Texmaco Infrastructure & Holdings Limited has informed the Exchange regarding Notice of Postal Ballot
TEXINFRA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Texmaco Infrastructure & Holdings is seeking shareholder approval via postal ballot to appoint Mr. Arvind Kumar Chaubey as Manager of the Company for a 3-year term effective 16th May 2025, by way of a Special Resolution. Mr. Chaubey (age 53) holds a Masters in Personnel Management and has over 25 years of HR experience, having previously worked with Larsen & Toubro, GET Power, Isolux Corsan and Continental Engineering. His proposed consolidated remuneration is ₹4,53,753 per month (about ₹54.5 lakh annually), compared to ₹0.48 crore drawn in FY25. The Company, engaged in real estate and hydro power generation, reported a net loss of ₹8.56 crore on a gross turnover of ₹9.16 crore for FY ending 31st March 2025. Remote e-voting runs from 1 July 2025 to 30 July 2025, with results to be announced on or before 1 August 2025.
This is a routine managerial-level appointment seeking shareholder approval and is unlikely to meaningfully impact the stock. Investors may, however, note the proposed pay hike against the backdrop of the Company's continued losses.