Praj Industries Limited has informed the Exchange regarding Notice of Postal Ballot
PRAJIND · price
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Praj Industries Limited is seeking shareholder approval via postal ballot for the appointment of Mr. Sachin Raole as Joint Managing Director (JMD) and Chief Financial Officer (CFO) for a five-year term starting 30th April 2026. Raole, who currently serves as CFO and Director-Resources, will see his existing tenure superseded by this new elevated role. The proposed remuneration includes a monthly salary of ₹17.83 lakhs (basic ₹8.92 lakhs plus allowances ₹8.91 lakhs), performance bonus up to 75% of basic salary, and profit-based commission up to 0.30% of consolidated PAT. Total annual remuneration for FY 2026-27 is capped at ₹3.44 crores, rising to ₹6.03 crores by FY 2030-31. The appointment requires an Ordinary Resolution while remuneration terms require a Special Resolution. Voting ends on 16th June 2026.
This is a routine internal promotion of an existing executive to a higher leadership role. The company is expanding the CFO's responsibilities to include Joint Managing Director duties, reflecting growth in business complexity. Shareholders should note the higher remuneration ceiling but the appointment appears routine given the executive's long tenure since 2017.