Yuken India Limited has informed the Exchange about Shareholders meeting
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Yuken India Limited has issued a Postal Ballot notice seeking shareholder approval through remote e-voting (29th May to 27th June 2025) for two special resolutions. First, re-appointment of Mr. C P Rangachar (founder-promoter, aged 82) as Managing Director for 5 years from 1st May 2025 to 30th April 2030, with a basic salary scale of Rs. 7.5–10 lakh per month plus perquisites. Second, preferential allotment of 5,84,000 equity shares at Rs. 1,026 per share (Rs. 1,016 premium) to its Japanese promoter Yuken Kogyo Company Limited, which currently holds 44.62% stake (58 lakh shares), for a total consideration of Rs. 59.92 crores. The funds are intended for business expansion, including new product manufacturing for export to Yuken Group companies. The company reported FY24 revenue of Rs. 370.98 crores and profit after tax of Rs. 14.25 crores, up from Rs. 750.16 lakhs in FY23.
For existing shareholders, the preferential allotment to the existing promoter will dilute their holding slightly and further consolidate the Japanese promoter's stake beyond 44.62%. The promoter infusion signals confidence and provides growth capital, but minority shareholders should note that no open market issue is being made. The MD re-appointment ensures leadership continuity with the founder. Approval of both resolutions will be considered passed based on the e-voting outcome by 27th June 2025.