Fine Organic Industries has scheduled its 24th Annual General Meeting (AGM) for Tuesday, August 18, 2026, to seek shareholder approval for a final dividend of ₹11 per equity share for FY26 and significant remuneration revisions for five key executives. The meeting will also approve the appointment of Shailendra Nadkarni as a Non-Executive Independent Director and the re-appointment of Nikhil Kamat by rotation. These resolutions aim to align executive compensation with industry benchmarks while ensuring robust governance through fresh board appointments.

The company dispatched the AGM notice and Annual Report on July 27, 2026, complying with Regulation 30 and Regulation 47 of the SEBI Listing Regulations, 2015. Pooja Lohor, Company Secretary and Compliance Officer, signed the submission to BSE Limited and National Stock Exchange of India Limited. The filing references Section 108 of the Companies Act, 2013, and Rule 20 of the Companies (Management and Administration) Rules, 2014, mandating electronic voting facilities for all shareholders.

Key Dates and Dividend Details

Shareholders must note specific deadlines for voting and dividend entitlement. The record date for the final dividend is Friday, July 31, 2026. If approved, the dividend will be paid electronically from the sixth day after the AGM concludes. Members without updated bank details will receive warrants or demand drafts, though SEBI mandates electronic payments only for listed entities.

Board Appointments and Remuneration Revisions

The AGM agenda includes special resolutions to revise the maximum monthly salary limits for four Whole-Time Directors and one Managing Director, effective April 01, 2026. Mukesh Shah (Chairman), Jayen Shah (Managing Director), Tushar Shah (CEO), and Bimal Shah (Whole-Time Director) each seek an increase in their upper salary limit from ₹50,00,000 to ₹75,00,000 per month. Nikhil Kamat (Whole-Time Director) seeks an increase from ₹30,00,000 to ₹40,00,000 per month. These revisions are subject to performance evaluation and remain within Section 197 limits of the Companies Act, 2013.

Additionally, shareholders will appoint Shailendra Nadkarni as a Non-Executive Independent Director for a five-year term ending May 18, 2031. Nadkarni, a former Executive Director of IDBI Bank with over 31 years of experience in corporate banking and risk management, was initially appointed as an Additional Director on May 19, 2026. Nikhil Kamat, who retires by rotation, offers himself for re-appointment.

Cost Auditor Ratification

The Board also seeks ratification of the remuneration payable to M/s. Y. R. Doshi & Associates, Cost Accountants, for conducting the cost audit for FY27. The proposed fee is ₹4,00,000 excluding taxes and out-of-pocket expenses, based on the Audit Committee’s recommendation.

Voting Process and Scrutiny

KFin Technologies Limited facilitates remote e-voting and on-site electronic voting via Video Conferencing (VC) or Other Audio-Visual Means (OAVM). Only members holding shares as of the cut-off date, Tuesday, August 11, 2026, are eligible to vote. M/s. K S & Associates, Practising Company Secretaries, have been appointed as Scrutinizer to ensure a fair process. Results will be declared within two working days of the AGM’s conclusion.

What the Numbers Show

The proposed salary caps represent a 50% increase for four senior executives and a 33% increase for Nikhil Kamat, reflecting the Board’s view that previous limits were inadequate for the current scale of operations. This move coincides with the appointment of an independent director with deep banking expertise, suggesting a strategic focus on strengthening financial oversight and governance structures alongside executive compensation adjustments.

fine organic industries announced the retirement of two senior executives, Dr. Vijay Prabhu and Dr. Mayukh Warawdekar, effective from the close of business hours on July 10, 2026. Dr. Prabhu served as the Senior Vice President – Quality Assurance, while Dr. Warawdekar held the position of Senior Vice President – Research and Development. Their departures mark a significant change in the company's senior management structure as both individuals cease to be Senior Management Personnel of the company from the stated date.

The company disclosed that the cessation of these roles was pursuant to retirement, and therefore, the requirement for resignation letters was not applicable. The intimation was filed under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure referenced SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026, updated on January 30, 2026.

Details of Cessation

The following table summarizes the details regarding the changes in senior management personnel:

The filing was submitted by Pooja Lohor, Company Secretary and Compliance Officer of Fine Organic Industries Limited. The company has provided the necessary details to the stock exchanges for information and records.