Rama Phosphates Limited has successfully completed a postal ballot process for the re-appointment of an Independent Director, demonstrating strong shareholder confidence in the company's governance structure. The fertilizer and chemical manufacturer announced the results on April 02, following the completion of remote e-voting process conducted in compliance with regulatory requirements.

Resolution Details and Approval

The company sought shareholder approval for the re-appointment of Mr. Ratneshwar Prasad (DIN - 10625105) as an Independent Director for a second term. The appointment covers five consecutive years commencing from May 30 up to May 29.

Voting Process and Timeline

The postal ballot was conducted entirely through remote e-voting, following regulatory guidelines and MCA circulars. The voting process was managed by Central Depository Services (India) Limited (CDSL) as the authorized agency.

Comprehensive Voting Results

The resolution received overwhelming support from shareholders across all categories. The detailed voting results demonstrate strong confidence in the proposed re-appointment with 99.99% approval.

Regulatory Disclosure and Compliance

The company has made comprehensive disclosures under Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015. The disclosure includes detailed information about Mr. Prasad's distinguished 38-year career in taxation, law, competition law and international taxation.

Director Profile and Background

Mr. Ratneshwar Prasad brings extensive experience to the board with his distinguished career spanning multiple domains. He joined the Indian Revenue Service (IRS) - Income Tax after clearing the Civil Services Examination and was promoted to the posts of Commissioner, Chief Commissioner and eventually, Chairman of Central Board of Direct Taxes (CBDT). During his service, he was involved in augmentation of revenue, policy planning, disposal of appeals, and disposed off 10,000 tax appeals while being involved in planning and execution of 200 groups searches. After retirement as Chairman of CBDT, he joined the Competition Commission of India (CCI) as a founding member.

Company Profile

Rama Phosphates Limited is an ISO 9001:2015 certified company engaged in manufacturing fertilizers and chemicals. The company produces SSP Fertilizer, Sulphuric Acid, Oleum, Chlorosulphonic Acid, Edible Soya Oil, and various other chemical products including micronutrients and specialty chemicals.

Rama Phosphates Limited has notified stock exchanges regarding a revision in its credit ratings by ICRA, with the rating agency placing all facilities on watch with negative implications. The company communicated this development to both BSE and NSE on March 26, 2026, in compliance with SEBI regulations.

Rating Revision Details

ICRA has taken rating actions across the company's entire credit portfolio worth Rs. 136.00 crore. The revision affects multiple facility categories, with all ratings being placed on watch with negative implications.

Company Background

Rama Phosphates Limited operates as a diversified chemical and fertilizer manufacturer. The company's product portfolio includes SSP fertilizer, sulphuric acid, oleum, chlorosulfonic acid, edible soya oil, soya de-oiled cake, lecithin, and various micronutrients. The company maintains operations across multiple locations including Indore, Udaipur, Nimbahera, Pune, and Dhule.

Regulatory Compliance

The rating revision intimation was submitted pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The communication was signed by Haresh D. Ramsinghani, Chairman & Managing Director, and addressed to both major stock exchanges where the company's shares are listed.

Financial Facilities Overview

The total rated amount of Rs. 136.00 crore remains unchanged from the previous assessment. However, the shift from stable outlook to negative watch represents a significant change in the rating agency's assessment. The long-term fund-based limits constitute the largest portion at Rs. 80.00 crore, followed by short-term non-fund based limits at Rs. 48.00 crore and term loan facilities at Rs. 8.00 crore.