Notice of EGM to be held on 20.06.2026
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Popular Foundations Ltd, a Chennai-based civil construction company, has called an EGM on June 20, 2026 to seek shareholder approval for three director appointments. First, Ms Umaa Sharvani (a Chartered Accountant with 15+ years experience) is being appointed as an Independent Director for 5 years from March 23, 2026. Second, Mr A S Venkatesh is being re-appointed as Managing Director for 3 years at a monthly salary of Rs. 7.5 lakhs plus performance allowance up to Rs. 15 lakhs annually. Third, Mrs Vinita Venkatesh is being re-appointed as Whole Time Director for 3 years at a monthly salary of Rs. 4 lakhs plus performance allowance up to Rs. 7.5 lakhs annually. Financials show revenue of Rs. 61.79 crore in FY26 (vs Rs. 58.68 crore in FY25), with PAT dropping significantly to Rs. 1.01 crore from Rs. 3.81 crore due to input cost escalation and stiff competition.
The company is continuing with its existing leadership structure under the Venkatesh family while adding an experienced Independent Director. The sharp decline in profits despite higher revenue may raise concerns, though management remains stable with these re-appointments.