V-Mart Retail Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on July 29, 2025
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V-Mart Retail has notified the exchanges of its 23rd AGM scheduled for Tuesday, July 29, 2025 at 11:00 AM, to be held via video conferencing. The cut-off date for eligibility is July 22, 2025, and remote e-voting runs from July 25 to July 28, 2025. Shareholders will vote on adopting FY25 audited financials, re-appointing Managing Director Lalit Agarwal (who retires by rotation), and revising remuneration packages for several directors. Key proposals include raising MD Lalit Agarwal's basic salary to Rs. 142 lakh p.a. for FY26 (with up to 25% annual hikes), plus commission of up to 1% of net profits capped at Rs. 300 lakh p.a. and perquisites up to Rs. 149 lakh p.a. Whole-time Director Madan Gopal Agarwal's basic pay is set at Rs. 47 lakh p.a. with up to 0.33% commission (max Rs. 100 lakh p.a.). Varin Agarwal, son of the MD, will receive up to Rs. 60 lakh p.a. for holding an office of profit. Non-executive directors will be eligible for commission up to 1% of net profits, capped at Rs. 37.5 lakh per director per year for three years. The notice also seeks approval to appoint M/s Agarwal S. & Associates as secretarial auditors for five years (FY26 to FY30).
The AGM is largely procedural, but the sizeable pay hikes for promoter-family directors and the commission pool for non-executive directors may draw scrutiny from institutional shareholders and proxy advisory firms. Shareholders should review the remuneration resolutions carefully before voting, as they will set executive pay levels through FY27-FY28.