Sharda Motor Industries Limited has informed the Exchange regarding Notice of Postal Ballot
SHARDAMOTR · price
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Awaiting price reaction for this filing.
Sharda Motor Industries has sent a Postal Ballot notice to shareholders seeking approval through e-voting (from May 27, 2025 to June 25, 2025) for three special business items. The first is the re-appointment of Mrs. Sarita Dhuper (DIN: 08776286) as a Non-Executive Independent Director for a second 5-year term from June 29, 2025 to June 28, 2030. The second is approval to pay commission to Non-Executive Directors capped at 1% of net profits, with a specific provision of up to Rs. 20 Lakh for FY 2025-26 to Mr. Navin Paul. The third is a 1:1 bonus issue of equity shares, by capitalizing Rs. 5,74,07,706 from free reserves and capital redemption reserve, to issue up to 2,87,03,853 bonus shares of Rs. 2 each, which would double the paid-up equity share capital to Rs. 11,48,15,412 (5,74,07,706 shares). The cut-off date for eligibility is May 23, 2025, and results will be declared on or before June 27, 2025.
The bonus issue (1:1) is a significant positive for shareholders, effectively doubling their shareholding at no cost and improving stock liquidity, though the share price will likely adjust downward proportionally post-record date. The director re-appointment and commission proposals are routine governance matters with limited direct price impact, though approval of Mr. Paul's Rs. 20 Lakh compensation indicates rising non-executive director pay.