Notice of Postal Ballot
WPIL · price
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Awaiting price reaction for this filing.
WPIL Limited has issued a Postal Ballot Notice seeking shareholder approval through remote e-voting (NSDL) from December 30, 2025 to January 28, 2026, with cut-off date of December 26, 2025. Six resolutions are proposed: (1) and (2) re-appointment of Mr. Prakash Agarwal as Managing Director and Mr. K.K. Ganeriwala as Executive Director for a further 3-year term (Nov 1, 2025 to Oct 31, 2028), with fixed salaries of Rs. 7,00,000/month and Rs. 5,00,000/month respectively, plus commission of 1.5% and 0.75% of net profits. (3) and (4) Reclassification and increase of Authorized Share Capital from Rs. 10.5 crore to Rs. 12 crore by cancelling 14,000 unissued preference shares of Rs. 100 each and converting them plus creating additional 1.5 crore fresh equity shares of Rs. 1 each. (5) and (6) Corresponding alterations to the Memorandum and Articles of Association. Financial context: FY25 revenue was Rs. 1,147.7 crore with PAT of Rs. 143.8 crore.
Routine governance matters — director re-appointments are largely procedural and continuing existing roles, so limited direct stock impact. The share capital restructuring (cancelling unissued preference shares and expanding authorised equity) creates headroom for potential future fundraising or stock splits/dividends but does not immediately dilute shareholders since no new shares are being issued yet. Shareholders should vote before January 28, 2026, especially if they have concerns about the executive remuneration package.