Notice of Postal Ballot for seeking approval from shareholders by way of Special Resolution through remote e-voting for Re-appointment of Mr. Parthiv T Kilachand (DIN 00005516) as Managing ....
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Awaiting price reaction for this filing.
Polychem Ltd has sent out a Postal Ballot Notice to shareholders seeking approval (by Special Resolution) for the re-appointment of Mr. Parthiv T. Kilachand as Managing Director for a 3-year term starting April 1, 2026. Mr. Kilachand has been with the company since 1988 and has served as MD since July 2012. He is a promoter holding 52.09% of paid-up capital, and the Kilachand family (father Tanil R. Kilachand as Chairman and brother Nandish T. Kilachand as Director) controls the board. His current annual remuneration is Rs. 57.55 lakhs. Voting opens February 17, 2026 and closes March 18, 2026. Notably, the company's sales fell about 35% from Rs. 36.87 crore in FY24 to Rs. 23.81 crore in FY25, with profit before tax dropping nearly 49% to Rs. 3.94 crore.
Routine re-appointment of a long-serving promoter MD with no change at the helm. Given the family controls over 52% of shares, shareholder approval is practically assured and there is no governance change to act as a stock catalyst. The weak FY25 numbers may attract some questions from minority shareholders during the voting period.