Royal Orchid Hotels Limited has informed the Exchange regarding Notice of Postal Ballot
ROHLTD · price
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Awaiting price reaction for this filing.
Royal Orchid Hotels has issued a postal ballot notice to shareholders with two items to vote on through e-voting. The first is the appointment of Mr. Sunil Sikka (DIN 00083032), a promoter group member, as a Non-Executive Director effective September 15, 2025 — this is a re-attempt after his re-appointment was rejected at the September 2024 AGM. The second is a special resolution to raise the remuneration of Managing Director Mr. Chander K. Baljee, whose salary has been frozen at about Rs. 2.78 crore per year for the past six years. The new package proposes a 10% fixed pay increase, a 2% commission on net profits, and up to 8% annual increments, backed by a Deloitte benchmarking report that places his current pay at roughly 49% of the industry median. The company has grown from 54 properties in 2019 to over 117 in 2025, with revenue rising from Rs. 219 crore to Rs. 343 crore and market cap from Rs. 316 crore to Rs. 1,070 crore over the same period. Voting runs from August 13 to September 11, 2025, and results will be announced by September 13, 2025.
If approved, the MD's pay hike will lift compensation costs and tighten the link between his earnings and net profits, which could be positive for shareholder alignment if performance holds. The re-appointment of the promoter-linked director is governance-sensitive, especially since it was defeated once before — investors will watch whether retail and institutional holders back it this time.