Presstonic Engineering Limited has announced a postal ballot notice seeking shareholder consent for the re-appointment of its Managing Director and Joint Managing Director, along with the approval of their remuneration. The company published the advertisement in newspapers on May 27, 2026, complying with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The notice was published in “Business Standard” (English – All editions) and “Prajawani” (Kannada – Bangalore edition). The complete document has been made available on the company’s website at www.presstonic.com for shareholder reference.

Key Details of the Postal Ballot

The postal ballot process allows members to vote on the resolutions regarding the re-appointment of the senior management and their remuneration. This mechanism is used to obtain necessary approvals without convening a physical general meeting.

The submission was made by Herga Poornachandra Kedilaya, Managing Director of Presstonic Engineering Limited. The communication was addressed to the National Stock Exchange of India Limited to ensure regulatory compliance.

Presstonic Engineering Limited has appointed M/s. Paramkusum and Associates, Chartered Accountants, as its internal auditor for the financial year 2026-27. The Board of Directors approved the appointment at its meeting held on May 26, 2026. The firm, based in Bangalore, specializes in auditing, taxation, and management consultancy services with over three decades of experience.

Additionally, the Board approved a notice of postal ballot to seek shareholder consent for the re-appointment of Herga Poornachandra Kedilaya as Managing Director and Yermal Giridhar Rao as Joint Managing Director. The re-appointments are proposed for a five-year term commencing July 3, 2026, along with the approval of their remuneration. The company disclosed that current profits are insufficient to cover managerial remuneration within standard limits due to increased input costs and deferred deliveries, though it anticipates growth based on a confirmed order book of ₹150 crores.

Internal Auditor Details

Re-appointment and Remuneration Terms

The Board has proposed specific remuneration packages for both directors, subject to shareholder approval. The salary for FY 2026-27 is proposed at up to ₹36,00,000 per annum. For the financial years 2027-28 to 2028-29, the Board will determine the actual remuneration within an overall limit of up to ₹72,00,000 per annum, in accordance with Schedule V of the Companies Act, 2013. Additionally, both directors are entitled to perquisites including the free use of a company car with driver for business purposes. Neither director will receive sitting fees for attending Board or committee meetings.

Director Profiles and Financial Performance

Herga Poornachandra Kedilaya, aged 55, holds a Bachelor in Engineering and brings 29 years of industrial leadership experience. Yermal Giridhar Rao, aged 56, holds a Master of Technology and possesses 30 years of experience, particularly in the metro rail sector. Both directors were originally appointed on March 23, 2021, and re-designated to their current roles effective July 3, 2023. They attended 8 Board meetings during FY 2025-26 and hold 33,52,340 equity shares each in the company.

The company reported a total revenue of ₹4,080.31 lakh and a Profit After Tax of ₹259.74 lakh for FY 2025-26, compared to ₹2,144.07 lakh revenue and ₹86.40 lakh profit in the previous year. The Board noted that despite the current profit levels being inadequate for the prescribed remuneration limits, the strong order pipeline and strategic investments in advanced plant machinery are expected to drive future productivity and profitability.