Electrosteel Castings seeks nod for director re-appointment
Electrosteel Castings Limited has commenced a postal ballot and e-voting process from 15 July 2026 to 13 August 2026 to seek shareholder approval for the re-appointment of Mr. Uddhav Kejriwal and the revision of tenure for Mrs. Priya Manjari Todi as Whole-time Directors. The Board recommends Mr. Kejriwal's re-appointment for a five-year term effective 16 June 2026, with a detailed remuneration package, and seeks to extend Mrs. Todi's tenure to five years from 14 February 2025. Ms. Rashmi Bihani has been appointed as the Scrutinizer, and the results will be declared on or before 14 August 2026.
*this image is generated using AI for illustrative purposes only.
Electrosteel Castings Limited has commenced a postal ballot and e-voting process to seek shareholder approval for the re-appointment of Mr. Uddhav Kejriwal and the revision of tenure for Mrs. Priya Manjari Todi as Whole-time Directors. The remote e-voting period runs from 15 July 2026 to 13 August 2026, with the cut-off date for determining eligibility set as 10 July 2026. The company has engaged National Securities Depository Limited (NSDL) to facilitate the electronic voting process.
The Board of Directors recommends the re-appointment of Mr. Uddhav Kejriwal for a term of five years effective 16 June 2026. The resolution proposes a specific remuneration package including salary, special allowance, and perquisites for a three-year period within the five-year tenure. The remuneration details are outlined in the table below.
| Particulars | Details |
|---|---|
| Salary | Rs. 9,36,600 per month (16 June 2026 to 15 June 2027) Rs. 10,11,500 per month (16 June 2027 to 15 June 2028) Rs. 10,92,400 per month (16 June 2028 to 15 June 2029) |
| Special Allowance | Rs. 1,05,950 per month (16 June 2026 to 15 June 2027) Rs. 1,14,500 per month (16 June 2027 to 15 June 2028) Rs. 1,23,700 per month (16 June 2028 to 15 June 2029) |
| House Rent Allowance | Rs. 5,61,960 per month (16 June 2026 to 15 June 2027) Rs. 6,06,900 per month (16 June 2027 to 15 June 2028) Rs. 6,55,440 per month (16 June 2028 to 15 June 2029) |
Additionally, the company seeks approval to revise the tenure of Mrs. Priya Manjari Todi as Whole-time Director from three years to five years, with effect from 14 February 2025. This modification maintains the previously approved terms and conditions regarding remuneration. The Board states that the revision aligns with the maximum statutory limit prescribed under Section 196(2) of the Companies Act, 2013.
Ms. Rashmi Bihani of M/s. Bihani Rashmi & Co., Chartered Accountants, has been appointed as the Scrutinizer to oversee the postal ballot voting process. The results of the postal ballot will be declared on or before 14 August 2026 and will be communicated to the stock exchanges and posted on the company's website. The resolutions require a special majority to be passed.
Historical Stock Returns for Electrosteel Castings
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.22% | -6.27% | -12.30% | -2.05% | -37.35% | +103.15% |
How will the projected increase in directorial remuneration impact Electrosteel's overall operating expenses over the next three years?
What strategic initiatives does Mr. Uddhav Kejriwal's re-appointment prioritize for the company's growth during his five-year tenure?
Could the revision of Mrs. Priya Manjari Todi's tenure signal a broader shift in the company's long-term succession planning?
20
Create Custom Screeners 
Access 200+ Pre-built Filters 
Use 50+ Readymade Screener 
