The Company herewith submits the notice of Postal Ballot
RENUKA · price
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Shree Renuka Sugars has issued a Postal Ballot Notice seeking shareholder approval for three material related party transactions with Wilmar Group companies for FY 2026-27, to be voted on via e-voting from March 10, 2026 to April 8, 2026. The largest is with Wilmar Sugar Pte. Ltd. (Singapore) for Rs. 20,625 crore covering purchase of raw sugar, sale of sugar, and commodity derivatives, equal to about 189% of the company's FY25 consolidated turnover of Rs. 10,914 crore. The second is with Wilmar Sugar India Private Limited for Rs. 3,002 crore covering sugar purchases, RoDTEP scrip purchases, and employee cost allocation. The third is with Wilmar Agri Trading DMCC (Dubai) for Rs. 2,000 crore for sale of sugar. All three entities are subsidiaries of the common parent Wilmar Sugar and Energy Pte. Ltd., and three non-executive directors of SRSL hold indirect stakes in WSPL. Previous year transactions with WSPL alone totaled Rs. 9,552.79 crore.
The combined transaction value of ~Rs. 25,627 crore is more than double the company's annual turnover, highlighting deep operational dependence on the Wilmar group for raw sugar sourcing and sugar export markets. Shareholders should evaluate the arm's-length pricing, the company's ability to function independently, and any governance concerns from common directors and significant inter-group dealings, even though the company cites benefits in supply chain reliability and competitive pricing.