Notice of Postal Ballot
STERTOOLS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Sterling Tools Limited is seeking shareholder approval via postal ballot for appointing Mr. Anish Agarwal (currently Non-Executive Director) as Whole Time Director for 5 years from 15th May 2026. Anish Agarwal, 36, is a third-generation entrepreneur with 16+ years of auto sector experience, holding an engineering degree from University of Warwick and MBA from Imperial College Business School, London. He is the son of Chairman Anil Aggarwal and brother of Whole Time Director Akhill Aggarwal. The proposed remuneration is ₹1 crore per annum (₹96 lakh basic salary + ₹4 lakh allowances) for 3 years starting July 2026. The company reported total income of ₹725.87 crore and net profit of ₹64.20 crore for FY 2025-26, up from ₹651.61 crore and ₹42.87 crore respectively in FY 2024-25.
Approval will formalize a leadership transition as a promoter family member moves into an executive role. The substantial remuneration (₹1 crore annually) reflects his significant equity stake (27.37 lakh shares) and growing company profits. Positive shareholder response to this succession planning could be supportive for the stock.