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Awaiting price reaction for this filing.
Sky Industries Limited has issued a Postal Ballot notice seeking shareholder approval for a Special Resolution to revise the remuneration of Mr. Gopalakrishnan Mani (DIN: 10324513), Whole Time Director of the company. His annual remuneration is proposed to be increased from Rs. 20 lakh to up to Rs. 30 lakh (a 50% hike), effective April 1, 2025, for his remaining tenure ending November 9, 2026. The resolution also allows payment of this remuneration even in years with no or inadequate profits, under Schedule V of the Companies Act. E-voting will run from December 7, 2025 to January 5, 2026, with results announced on January 7, 2026. Mr. Mani, who joined as WTD in November 2023, oversees the Vashi plant and has nearly three decades of textile industry experience.
This is a routine governance matter with no material impact on shareholders or the stock price. The 50% pay revision is modest and proportionate to the director's experience and industry benchmarks, and the company is profitable (FY25 PAT of Rs. 582 lakh on revenue of Rs. 8,549 lakh), so the cost is comfortably absorbable.