West Coast Paper Mills Limited has informed the Exchange regarding Notice of Postal Ballot
WSTCSTPAPR · price
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Awaiting price reaction for this filing.
West Coast Paper Mills has sent out a Postal Ballot notice seeking shareholder approval via remote e-voting for two special resolutions. The first is the re-appointment of Smt. Sudha Bhushan as Non-Executive Independent Director for a second 3-year term from May 19, 2026 to May 18, 2029. The second is the re-appointment of Shri S. K. Bangur, a promoter, as Chairman and Managing Director for 5 years from May 1, 2026 to April 30, 2031, with a proposed monthly salary of Rs. 21.20 lakh plus total remuneration capped at 4% of net profits. He earned Rs. 1,532.11 lakhs in FY25 and is 76 years old, with his remuneration exceeding the Rs. 5 crore SEBI threshold for promoter executive directors, which is why this shareholder approval is required. Voting runs from March 9, 2026 to April 7, 2026, with the cut-off date set as February 27, 2026.
This is a routine governance action ensuring leadership continuity, and approval is likely given the promoter's family control. Investors should note the high promoter compensation and the senior leadership's age, but the re-appointments are not expected to materially impact the stock price.