Eveready Industries India Limited has successfully concluded its postal ballot process, with shareholders overwhelmingly approving all three proposed resolutions on March 18, 2026. The company announced the voting results through a regulatory filing, demonstrating strong shareholder confidence across key corporate governance and strategic initiatives.

Postal Ballot Process Overview

The postal ballot was conducted entirely through electronic voting via the NSDL platform, following MCA circulars and regulatory requirements. The e-voting period remained open from 09:00 A.M. IST on February 17, 2026, to 5:00 P.M. IST on March 18, 2026. Shareholders holding shares as of the cut-off date of February 6, 2026, were eligible to participate in the voting process.

Resolution Results and Shareholder Response

All three resolutions received exceptional shareholder support, reflecting confidence in the company's strategic direction and governance practices.

Resolution 1: Articles of Association Amendment

The special resolution for amending the company's Articles of Association received the highest approval rate among all resolutions.

Resolution 2: Employee Stock Option Plan 2026

The special resolution approving the Employee Stock Option Plan 2026 garnered strong support from shareholders across all categories.

Resolution 3: Executive Remuneration Revision

The ordinary resolution for revising the remuneration of Executive Director and CFO Bibek Agarwala (DIN: 07267564) received overwhelming approval.

Scrutinizer Validation and Compliance

Practising Company Secretary Atul Kumar Labh, appointed as the scrutinizer, conducted the voting process oversight in accordance with the Companies Act, 2013, and SEBI regulations. The scrutinizer's report, dated March 19, 2026, confirmed the validity of all votes cast and the transparent conduct of the e-voting process. The results were unblocked in the presence of two independent witnesses, ensuring complete transparency and compliance with regulatory requirements.

The voting results and scrutinizer's report have been made available on the company's website at www.evereadyindia.com and the NSDL e-voting portal at www.evoting.nsdl.com , maintaining full disclosure standards for shareholders and regulatory authorities.

Eveready Industries India Limited has announced a comprehensive postal ballot notice seeking shareholder approval for strategic employee compensation initiatives and corporate governance amendments. The company has issued the notice dated February 5, 2026, addressing three significant resolutions that will shape its employee engagement and organizational structure.

Key Resolutions for Shareholder Approval

The postal ballot encompasses three critical resolutions requiring shareholder consent through remote e-voting. The company has structured these proposals to enhance employee participation and align organizational objectives with individual performance metrics.

Employee Stock Option Plan 2026 Details

The proposed 'Eveready Industries India Limited Employee Stock Option Plan 2026' represents a significant initiative to reward and retain talent. The plan offers substantial benefits to eligible employees and directors while maintaining regulatory compliance.

ESOP Plan Specifications

The plan targets specific employee categories including designated employees working in India or abroad, directors (excluding promoters), and employees of group companies. The Committee will determine eligibility based on performance appraisal, seniority, service period, and potential contribution to company growth.

Articles of Association Amendment

The first resolution proposes inserting Article 11A to enable the company to issue equity shares for employee stock options and share-based benefits. This amendment provides necessary flexibility to implement employee compensation schemes in compliance with the Companies Act, 2013 and SEBI regulations.

The proposed article authorizes directors to issue equity shares to officers, employees, workers, and directors as determined by the Board or designated committee. The amendment ensures regulatory compliance while enabling future employee benefit programs.

Executive Director Remuneration Revision

The third resolution addresses the remuneration structure of Mr. Bibek Agarwala, Executive Director and Chief Financial Officer. The proposal includes stock options in his compensation package for the remaining tenure from April 1, 2026 to August 4, 2029.

Current Remuneration Structure

Mr. Agarwala brings over 25 years of experience in business and finance transformation, having worked with prominent corporate houses including Essel Group, Raymond Lifestyle, and Dabur Group.

Voting Process and Timeline

The company has established a comprehensive remote e-voting framework to facilitate shareholder participation. Members whose names appear in the Register of Members as of February 6, 2026 (cut-off date) are eligible to vote.

E-Voting Schedule

The company has engaged National Securities Depository Limited (NSDL) to provide remote e-voting facilities. Shareholders can access the voting platform through the NSDL website at www.evoting.nsdl.com or through their respective depository participant portals.

Regulatory Compliance and Documentation

All proposed resolutions comply with applicable provisions of the Companies Act, 2013, SEBI regulations, and listing requirements. The company has made relevant documents available for inspection at its registered office between 10:00 AM and 12:00 Noon on working days until the last date of remote e-voting.

The postal ballot notice is available on the company's website at www.evereadyindia.com and on stock exchange websites where the company's shares are listed. The initiative demonstrates Eveready Industries' commitment to enhancing employee engagement while maintaining transparent corporate governance practices.

Source: