Lakshmi Mills has announced the launch of a special window facility to facilitate the transfer and dematerialisation of physical securities for its shareholders. The facility addresses pending share transfer requests and provides fresh lodgement opportunities for eligible securities.

Regulatory Framework and Timeline

The special window facility has been established pursuant to SEBI Circular No. HO/38/13/11(2)2026-MIRSD-POD/1/3750/2026 dated January 30, 2026. The facility will remain operational for a period of one year, commencing February 5, 2026 and concluding February 4, 2027.

Eligible Securities and Processing

The facility covers physical securities that were sold or purchased prior to April 1, 2019. It accommodates both fresh lodgement requests and previously submitted transfer requests that were rejected, returned, or not processed due to various deficiencies in documents, processes, or other issues.

All shares lodged for transfer through this facility will be processed exclusively in demat mode. Following successful registration of transfer, the securities will be subject to a lock-in period of one year from the date of registration.

Application Process and Documentation

Shareholders seeking to utilise this facility must submit the requisite documents to the company's designated Registrar and Share Transfer Agents. The appointed agents for this process are M/s. MUFG Intime India Private Ltd.

Public Communication

The company has fulfilled its disclosure obligations by publishing newspaper advertisements in both English and Tamil languages. The notice appeared in Business Line (English) and Dinamani (Tamil) on March 16, 2026, ensuring comprehensive communication to shareholders across different linguistic preferences.

The formal communication to BSE Ltd was executed on March 16, 2026, with the company secretary N. Singaravel signing the correspondence digitally. This initiative represents the company's commitment to facilitating seamless share transfer processes for its shareholders while ensuring compliance with regulatory requirements.

Lakshmi Mills has issued a postal ballot notice seeking shareholder approval for the re-appointment of its Managing Director through electronic voting. The company has engaged National Securities Depository Limited (NSDL) to facilitate the remote e-voting process for all shareholders.

Postal Ballot Details and Timeline

The postal ballot notice dated February 12, 2026, was dispatched to shareholders whose email addresses are registered with the company, depositories, or registrar and transfer agent as on the cut-off date of February 20, 2026. The company has appointed Sri B. Krishnamoorthi, Practicing Chartered Accountant from Coimbatore, as the scrutinizer to conduct the postal ballot process.

Managing Director Re-appointment Proposal

The special resolution seeks approval for the re-appointment of Sri Sundaram Pathy (DIN: 00013899) as Managing Director for a further period of five years with effect from April 24, 2026. His current tenure expires on April 23, 2026, following his initial appointment approved at the Annual General Meeting held on September 24, 2021.

The Nomination and Remuneration Committee and Audit Committee recommended the re-appointment at their respective meetings held on February 12, 2026. The proposal includes remuneration payment for a period of three years, despite the five-year appointment term.

Proposed Remuneration Structure

The remuneration package for Sri Sundaram Pathy includes multiple components structured to align with company performance and industry standards.

The perquisites include medical reimbursement, leave travel allowance, club fees, and medical insurance. In case of loss or inadequacy of profits, the remuneration (except commission) shall be payable as minimum remuneration in compliance with Schedule V of the Companies Act, 2013.

Director Profile and Experience

Sri Sundaram Pathy, aged 76 years, is a commerce graduate from the University of Madras with over five decades of experience in textile and textile machinery manufacturing industries. He has been associated with the company's board since September 27, 1995, and currently holds 1,13,570 equity shares, representing 16.33% of the paid-up capital.

He serves as Non-Executive Chairman of Lakshmi Engineering and Warehousing Limited and holds directorships in LMW Limited, where he is also a member of the Nomination & Remuneration Committee and Stakeholders Relationship Committee.

Company Financial Performance

The company operates in two reportable business segments: textiles and rental services. The textile segment involves manufacturing and sale of yarn and trading in cloth and garments, while rental services consist of letting out properties.

The company has manufacturing units at Palladam and Kovilpatti with an installed capacity of 1,44,432 ring spindles, and rental services at Lakshmi Mills Urban Centre in Coimbatore.

Voting Process and Results

Shareholders can cast their votes electronically through NSDL's e-voting platform using their demat account credentials or through the company's designated login process. The voting rights are proportional to shareholding as on the cut-off date. Results will be declared within two working days of the e-voting conclusion and will be available on the company's website, NSDL's website, and communicated to BSE Limited where the company's shares are listed.