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Awaiting price reaction for this filing.
Williamson Financial Services Ltd has issued a Postal Ballot Notice seeking shareholder approval for the re-appointment of Mr. Shyam Ratan Mundhra as Manager of the Company for a further two-year period, from 1st April 2026 to 31st March 2028, along with payment of remuneration. Mr. Mundhra, who is also the Chief Financial Officer (CFO) since April 2015, will receive a consolidated salary of Rs. 60,000 per month, with his past remuneration being Rs. 7.20 lakhs per year. E-voting will commence on 6th March 2026 and conclude on 4th April 2026, with results announced by 6th April 2026. The company, an NBFC focused on investments, reported a significant loss after tax of Rs. 44,474 lakhs in FY24-25 against total revenue of just Rs. 93 lakhs, resulting in EPS of Rs. (5.32). The remuneration is proposed as minimum remuneration under Schedule V given the company's inadequate profits.
This is a routine re-appointment of the existing Manager/CFO and is unlikely to materially affect shareholders. The proposed remuneration of Rs. 60,000 per month appears modest. However, the company's massive losses (Rs. 44,474 lakhs in FY25) raise concerns about its financial health, though the re-appointment itself is not expected to move the stock price significantly.