Jindal Steel e-voting starts May 20 for director appointments
Jindal Steel Limited has initiated the remote e-voting process for its postal ballot to approve the appointment of Mr. Debojyoti Roy and the re-appointment of Mr. Damodar Mittal as Wholetime Directors. The e-voting period runs from May 20, 2026, to June 18, 2026, and is the sole method for shareholders to cast votes. The company has also disclosed the detailed remuneration structure for the proposed appointees.
*this image is generated using AI for illustrative purposes only.
Jindal Steel Limited has commenced the remote e-voting process for its postal ballot, seeking shareholder approval for the appointment of Mr. Debojyoti Roy and the re-appointment of Mr. Damodar Mittal as Wholetime Directors. The company has engaged Central Depository Services (India) Limited (CDSL) to facilitate the e-voting facility, which is the sole method for members to cast their votes on the proposed resolutions. The company completed the dispatch of the Postal Ballot Notice on Tuesday, May 19, 2026. Additionally, the company informed the exchanges that a copy of the advertisement published in newspapers viz. Haribhoomi (Hindi) and Financial Express (English) regarding the postal ballot and e-voting information was enclosed.
E-Voting Schedule and Process
The remote e-voting facility began at 09:00 a.m. IST on Wednesday, May 20, 2026, and will conclude at 05:00 p.m. IST on Thursday, June 18, 2026. Shareholders holding shares in either dematerialized or physical form as of the cut-off date, Friday, May 15, 2026, are eligible to participate. The e-voting module will be disabled immediately after the deadline, and no votes will be accepted thereafter. Mr. Navneet Arora of M/s Navneet K. Arora & Co., LLP, has been appointed as the Scrutinizer to oversee the process.
Special Business: Director Appointments
The postal ballot notice outlines three special items for shareholder consideration. The first item seeks approval for the appointment of Mr. Debojyoti Roy (DIN: 08285494) as a Director of the Company. Mr. Roy was appointed as an Additional Director in the category of Executive Director effective March 27, 2026. The second item pertains to his appointment as a Wholetime Director for a period of three years commencing from March 27, 2026.
The third item proposes the re-appointment of Mr. Damodar Mittal (DIN: 00171650) as a Wholetime Director for another term of three years starting March 28, 2026. Mr. Mittal currently serves as a Wholetime Director designated as Executive Director, a role he has held since March 28, 2023.
Remuneration Details
The company has disclosed the proposed remuneration packages for both directors. For Mr. Debojyoti Roy, the annual remuneration includes a basic salary of Rs. 56,00,004, a Flexible Compensation Plan of Rs. 77,28,000, and a performance-based target variable pay of Rs. 90,00,000. He is also entitled to a total Long-Term Incentive of Rs. 90,00,000, payable in four equal installments over four years, along with standard perquisites and benefits.
| Component | Mr. Debojyoti Roy (per annum) | Mr. Damodar Mittal (per annum) |
|---|---|---|
| Basic Salary | Rs. 56,00,004 | Rs. 71,61,960 |
| Flexible Compensation Plan | Rs. 77,28,000 | Rs. 98,83,505 |
| Target Variable Pay | Rs. 90,00,000 | Rs. 1,19,36,604 |
| Long-Term Incentive | Rs. 90,00,000 | Not Applicable |
For Mr. Damodar Mittal, the proposed remuneration comprises a basic salary of Rs. 71,61,960, a Flexible Compensation Plan of Rs. 98,83,505, and a performance-based target variable pay of Rs. 1,19,36,604 per annum. He will also be entitled to various perquisites, including contributions to Provident Fund, gratuity, and medical insurance, but will not be entitled to sitting fees for board meetings.
Results and Declaration
The results of the postal ballot will be announced on or before Monday, June 22, 2026. Once declared, the results will be displayed on the notice boards of the company's Registered and Corporate offices and will be intimated to BSE Limited and the National Stock Exchange of India Limited. The information will also be available on the company's website and the CDSL e-voting portal.
How might the appointment of Mr. Debojyoti Roy as Wholetime Director influence Jindal Steel's strategic direction and operational priorities over his three-year tenure?
Could the significant performance-based variable pay components in both directors' remuneration packages signal specific growth targets or expansion plans that Jindal Steel is pursuing?
How is shareholder sentiment likely to shape the voting outcome, and could any institutional investor opposition impact the approval of these director appointments?
18
Access Market Heat-map & Insights 
Create, Save & Share your Screener 
Use 200+ Screening Filters 
