ZUARI INDUSTRIES LIMITED has informed the Exchange regarding Notice of Postal Ballot
ZUARIIND · price
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Zuari Industries Limited (ZIL) has issued a Postal Ballot Notice seeking shareholder approval for material related party transactions (RPTs) between its wholly-owned subsidiary Simon India Limited (SIL) and Paradeep Phosphates Limited (PPL) for Financial Year 2026-27. The aggregate value of the proposed transactions (EPC services, manpower deputation, and resource transfers) is capped at Rs. 500 Crore, which represents about 51.53% of ZIL's annual consolidated turnover of Rs. 970.33 Crore (FY25). Promoters Saroj Kumar Poddar and Akshay Poddar, who are also directors of PPL and hold around 7.48% in PPL, are interested in the resolution. E-voting runs from March 6, 2026 to April 4, 2026, with results to be announced on or before April 7, 2026. Related parties cannot vote on this resolution per SEBI rules.
This is a routine compliance item under SEBI's related party transaction rules since the proposed value exceeds 10% of ZIL's consolidated turnover. Approval is largely procedural, but shareholders should note the significant promoter interest in both entities and the large size of the transaction relative to ZIL's own turnover (about 3,249% of SIL's standalone turnover).