Mayur Uniquoters Limited has initiated a postal ballot to seek shareholder approval for a related party transaction concerning the remuneration of Mrs. Puja Poddar, who serves as President-HR and Administration. The move aims to formalize her compensation structure under the Companies Act, 2013, given her status as a related party through familial ties to the company’s promoter.

The Board of Directors recommends the resolution as an Ordinary Resolution pursuant to Section 188(1)(f) of the Companies Act, 2013 and Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Shareholders holding shares as of the cut-off date, Friday, July 31, 2026, are eligible to vote. The remote e-voting period begins on Saturday, August 08, 2026, at 9:00 A.M. IST and ends on Sunday, September 06, 2026, at 5:00 P.M. IST. Results will be declared on or before Tuesday, September 08, 2026.

Transaction Details

Mrs. Puja Poddar is the daughter-in-law of Mr. Suresh Kumar Poddar, Chairman and Managing Director & CEO (DIN: 00022395) and a promoter of the company, thereby classifying her as a related party under Section 2(76) of the Act. Her appointment to the senior management role was approved by the Board on March 02, 2026, following recommendations from the Nomination and Remuneration Committee and the Audit Committee.

The proposed remuneration cap of ₹5 lakh per month exceeds the threshold of ₹2.5 lakh specified in Rule 15(3)(b) of the Companies (Meetings of Board and its Powers) Rules, 2014, mandating prior shareholder consent. The Board authorized the payment subject to this approval, with the flexibility to vary terms within the stipulated limit.

Governance and Voting Process

The company engaged Central Depository Services (India) Limited (CDSL) to facilitate the e-voting process. CS Manoj Maheshwari (FCS: 3355) has been appointed as Scrutinizer, with CS Priyanka Agarwal (FCS: 11138) as Alternate Scrutinizer, to ensure transparency. The notice was dispatched via email in compliance with Ministry of Corporate Affairs circulars; hard copies were not sent.

Directors interested in the resolution include Mr. Suresh Kumar Poddar and Mr. Arun Bagaria (DIN: 00373862), Whole Time Director, along with their relatives. Other directors and key managerial personnel have no financial interest in the transaction. The explanatory statement cites the need for gender diversity and stable leadership in the Human Resources department as rationale for the appointment.

Mayur Uniquoters has announced plans to commission a new production line by February-March 2027, marking a significant step in its capacity expansion strategy. The new line is expected to add 5 lakh meters of capacity, with the incremental addition projected to generate approximately INR 150 crores in additional annual revenue. The company's broader expansion initiatives, when combined, are anticipated to contribute between INR 250 crores to INR 400 crores in revenue, depending on the product mix.

Capacity Expansion Details

The upcoming production line represents a key milestone in Mayur Uniquoters' growth roadmap. The following table summarizes the key parameters of the planned expansion:

The range of INR 250 crores to INR 400 crores from total new expansions reflects the variability in revenue outcomes based on the specific product mix that the company ultimately produces across its expanded facilities.

Export Growth and Automotive Business Outlook

Mayur Uniquoters has highlighted that U.S. supply orders are expected to provide a meaningful boost to its export revenue and profitability over a period of 2-3 years. A significant driver of this growth is the automotive segment, where the company's business is forecasted to grow by 60-70% through increased sales to Ford and Chrysler. These developments position the exports vertical as a critical pillar of the company's near-term growth strategy.

Revenue Growth Targets and Margin Sustainability

Looking ahead, Mayur Uniquoters expects to achieve revenue growth of 10% to 15% over the next three years, with exports serving as the primary focus area. On the margins front, Q1 FY '27 margins are viewed as sustainable, and the company has outlined plans to maintain year-end margins while targeting further improvement in future quarters. This dual focus on top-line growth and margin discipline underscores the company's approach to balancing expansion with profitability.

Key Highlights

• New production line targeted for commissioning by February-March 2027
• Capacity addition of 5 lakh meters from the new line
• New line expected to add approximately INR 150 crores in annual revenue
• Total new expansions projected to add INR 250 crores to INR 400 crores based on product mix
• U.S. supply orders to boost export revenue and profit for 2-3 years
• Automotive business forecasted to grow 60-70% via Ford and Chrysler
• Revenue growth target of 10% to 15% over the next three years
• Q1 FY '27 margins considered sustainable with plans for future improvement