Ponni Sugars (Erode) Limited has successfully completed its postal ballot process for the reappointment of Managing Director Mr Ramanathan Narayanan, with shareholders demonstrating overwhelming support for the resolution. The company disclosed the voting results on 28th March 2026, following the conclusion of the remote e-voting period.

Voting Process and Timeline

The postal ballot notice was issued on 20th February 2026 and filed with stock exchanges on 25th February 2026. The remote e-voting facility commenced on 26th February 2026 at 10.00 AM and concluded on 27th March 2026 at 5.00 PM, providing shareholders with a month-long voting window.

Voting Results and Shareholder Participation

The resolution for the reappointment of Mr Ramanathan Narayanan as Managing Director received exceptional support from shareholders across all categories. The voting demonstrated strong confidence in the company's leadership.

Resolution Details and Approval

The special resolution sought approval for the reappointment of Mr Ramanathan Narayanan (DIN: 00001033) as Managing Director. The resolution was passed with the requisite majority, receiving 99.964% of votes cast in favour, with only 0.036% voting against.

Key highlights of the voting outcome include:

• Total valid votes: 40,94,893 representing 47.624% of outstanding shares
• Votes in favour: 40,93,407 (99.964%)
• Votes against: 1,486 (0.036%)
• Invalid votes: Nil
• Number of members who voted in favour: 73
• Number of members who voted against: 6

Scrutinizer's Oversight and Compliance

The postal ballot process was conducted under the supervision of Mr A.S. Kalyanaraman, Practicing Chartered Accountant (Membership No. 201149), who served as the appointed Scrutinizer. The scrutinizer confirmed that the e-voting process was carried out in a fair and transparent manner, complying with all regulatory requirements.

The company ensured full compliance with the Companies Act, 2013, SEBI (LODR) Regulations, 2015, and relevant MCA circulars. The postal ballot notice was distributed to shareholders via email on 25th February 2026, and requisite advertisements were published in Business Standard and Makkal Kural on 26th February 2026.

Corporate Governance and Transparency

The successful completion of this postal ballot demonstrates Ponni Sugars (Erode) Limited's commitment to transparent corporate governance practices. The company utilized Central Depository Services (India) Ltd (CDSL) as the authorized agency for providing e-voting facilities, ensuring secure and reliable voting infrastructure.

The voting process was witnessed by independent observers Mr S G Ravi and Mr G Swaminathan, who confirmed the unblocking and downloading of votes from the CDSL e-voting platform. This additional layer of oversight reinforces the integrity of the electoral process and shareholder confidence in the company's governance standards.

Ponni Sugars (Erode) Limited has issued a postal ballot notice seeking shareholder approval for the reappointment of its Managing Director through a special resolution. The company announced this development through a regulatory filing dated February 25, 2026.

Managing Director Reappointment Details

The postal ballot seeks approval for the reappointment of Mr. Ramanathan Narayanan (DIN: 00001033) as Managing Director for a three-year term. His current tenure expires on March 31, 2026, and the proposed reappointment would be effective from April 1, 2026, to March 31, 2029.

Mr. Ramanathan is a qualified Chartered Accountant, Company Secretary, and Cost Accountant with over three decades of experience in the sugar industry. He has been associated with the company since April 1, 2005, and currently holds 3,001 equity shares in the company.

Proposed Remuneration Structure

The Board of Directors, on the recommendation of the Nomination and Remuneration Committee, has approved a comprehensive remuneration package for the Managing Director.

The package also includes personal accident and medical insurance, leave benefits, provident fund contributions, pension system benefits, and gratuity as determined by the Board. In case of loss or inadequacy of profits, the Managing Director will receive the specified salary, perquisites, and retirement benefits, with incentive amounts to be decided by the Board.

E-Voting Process and Timeline

The company has set February 20, 2026, as the cut-off date for determining eligible shareholders. The postal ballot notice was dispatched via email to registered shareholders on February 25, 2026, in accordance with Ministry of Corporate Affairs circulars.

The company has engaged Central Depository Services Limited (CDSL) to provide the remote e-voting facility. Mr. A.S. Kalyanaraman, Practicing Chartered Accountant (Membership No. 201149), has been appointed as the Scrutinizer for the e-voting process.

Company Performance Context

The reappointment comes against the backdrop of the company's financial performance over recent years. The company operates in sugar manufacturing and power cogeneration, with commercial production at the Erode sugar mill having commenced on December 3, 1984.

The Managing Director's past remuneration was Rs. 173 lakhs in 2022-23 and Rs. 221 lakhs each in 2023-24 and 2024-25. The company has highlighted the cyclical nature of the sugar industry and various external challenges including regulatory controls, weather dependencies, and market volatility as factors requiring experienced leadership.

Regulatory Compliance and Governance

The reappointment requires special resolution approval as Mr. Ramanathan has attained 71 years of age, exceeding the 70-year threshold specified under Section 196 of the Companies Act, 2013. The company has provided detailed justification for continuing his employment, citing his extensive industry experience, leadership capabilities, and contribution to the company's performance.

Shareholders can access the complete postal ballot notice on the company's website at www.ponnisugars.com and cast their votes through the CDSL e-voting platform during the specified period.