Mawana Sugars has completed the dispatch of its postal ballot notice, seeking shareholder approval for key governance resolutions including the re-appointment of an independent director and the approval of managing director remuneration.

The company sent the notice electronically on August 18, 2026, to all members whose email addresses were registered with the company or depository participants as of the cut-off date of August 14, 2026. In compliance with Ministry of Corporate Affairs (MCA) circulars, physical copies of the notice and postal ballot form were not dispatched.

Key Resolutions

The postal ballot covers two special business items:

• Re-appointment of Mr. Satish Agrawal (DIN: 00167589) as Non-Executive Independent Director for his second term.
• Approval of remuneration payment to Mr. Rakesh Kumar Gangwar (DIN: 09485856), Managing Director, for one year from August 13, 2026, to August 12, 2027.

Voting Process

Shareholders will cast their votes via remote e-voting facilitated by National Securities Depository Limited (NSDL). The Board appointed M/s Nirbhay Kumar & Associates as the scrutinizer to ensure a fair and transparent process.

Once a vote is cast, it cannot be changed. Only members recorded in the Register of Members or Register of Beneficial Owners as of the cut-off date are eligible to vote.

Compliance Updates

The company advised members to update their PAN, KYC details, and nomination information as mandated by recent SEBI circulars issued in May, September, and November 2023. Physical shareholders must submit Form ISR-1 to the Registrar and Transfer Agent, while demat holders must update details with their respective depository participants.

Mawana Sugars Limited has issued a postal ballot notice seeking shareholder approval for two key governance resolutions: the re-appointment of a non-executive independent director and the approval of remuneration for its managing director for the period from August 13, 2026 to August 12, 2027.

The company, engaged in sugar, ethanol, and power cogeneration, is seeking member approval via electronic voting through National Securities Depository Limited (NSDL). The remote e-voting window opens on August 19, 2026 at 9:00 am and closes on September 17, 2026 at 5:00 pm. Shareholders on record as of the cut-off date, August 14, 2026, are eligible to vote.

Key Resolutions

The postal ballot notice outlines two special resolutions:

• Re-appointment of Independent Director: Shareholders are asked to approve the re-appointment of Mr. Satish Agrawal (DIN: 00167589) as a Non-Executive Independent Director for a second term of five years, from November 3, 2026 to November 2, 2031. Mr. Agrawal, a Chartered Accountant and Managing Partner at S.R.K.A. & Co., was first appointed in November 2021.

• Managing Director Remuneration: The second resolution seeks approval to pay Mr. Rakesh Kumar Gangwar (DIN: 09485856), Managing Director, an annual cost to company (CTC) of ₹2.63 crore (₹2,63,02,385) plus a variable pay of ₹10 lakh (₹10,00,000) for the one-year period commencing August 13, 2026.

Mr. Gangwar, who has over 34 years of experience in the sugar industry, was initially appointed as Managing Director for a five-year term starting August 13, 2024. His previous annual CTC for the period ending August 12, 2026, was ₹2.30 crore.

Financial Context

The explanatory statement accompanying the notice provides financial performance data for the last three fiscal years. Mawana Sugars reported total revenue of ₹1,567.49 crore for FY26, up from ₹1,455.02 crore in FY25 and ₹1,384.39 crore in FY24.

Net profit for FY26 stood at ₹36.72 crore, down significantly from ₹71.40 crore in FY25 but higher than the ₹42.59 crore reported in FY24. Effective capital increased to ₹520.80 crore as of March 31, 2026, from ₹488.41 crore in the previous year.

The company noted that while it remained profitable in FY26, it recorded losses or inadequate profits under Section 198 of the Companies Act due to prior period losses. It highlighted efforts to optimize costs and improve plant efficiency to enhance sugar recovery and profitability.

Voting Process

M/s Nirbhay Kumar & Associates has been appointed as the scrutinizer for the postal ballot process. Results will be announced within two working days of the e-voting conclusion, expected by September 19, 2026. Institutional shareholders must submit scanned copies of board resolutions or authority letters to the scrutinizer.