Manoj Ceramic Limited has scheduled a board meeting for September 16, 2026, to consider the conversion of its outstanding preference shares into equity shares. The move involves varying the terms of issued fully paid 15% Non-Cumulative Redeemable Preference Shares into 15% Compulsory Convertible Preference Shares.

Board Agenda Details

The company’s Board of Directors will convene to approve the allotment of equity shares upon conversion, in compliance with the Companies Act, 2013 and SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. This corporate action aims to streamline the capital structure by converting debt-like instruments into permanent equity capital.

Trading Window Closure

In accordance with insider trading regulations, the trading window for directors, promoters, designated persons, connected persons, and their immediate relatives remains closed. The restriction is effective from September 10, 2026, until 48 hours after the conclusion of the board meeting on September 18, 2026.

This disclosure was made pursuant to Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The notice is available on the company’s website and the BSE platform.

Manoj Ceramic has scheduled its 20th Annual General Meeting for September 22, 2026, to approve the remuneration of three directors and adopt the audited financial statements for the fiscal year ended March 31, 2026. The meeting will be held via video conference.

The Board of Directors seeks shareholder approval through special resolutions to pay remuneration to Executive Directors Manoj Dharamshi Rakhasiya and Aakash Manoj Rakhasiya, as well as Non-Executive Director Mrs. Anjana Manoj Rakhasiya. The proposed payments exceed the limits prescribed under Section 197 of the Companies Act, 2013.

Remuneration Details

The approved remuneration caps are set for a period commencing April 1, 2026, and ending June 7, 2028. The specific annual limits are as follows:

In the event of absence or inadequacy of profits during this period, the approved amounts will be payable as minimum remuneration, subject to applicable provisions of the Act.

Other Business Items

Shareholders will also vote on the reappointment of Mr. Dhruv Rakhasiya as a Managing Director, who retires by rotation. Additionally, the meeting will transact ordinary business including the adoption of standalone and consolidated financial statements for FY26.

What the Numbers Show

The proposed remuneration represents an increase from the previous year's payouts. In FY25-26, Mr. Manoj Dharamshi Rakhasiya drew ₹15 lakh, while Mr. Aakash Manoj Rakhasiya drew ₹12 lakh. The new cap for Mr. Aakash Rakhasiya marks a significant step-up from his prior compensation, aligning with his expanded role in managing export business operations.