Shilp Gravures Limited shareholders have approved the re-designation of two Executive Directors to Whole-Time Directors and sanctioned an increase in the overall managerial remuneration limit. The resolutions were passed via a postal ballot process concluding on July 7, 2026, with requisite majorities.

Postal Ballot Outcomes

The company sought shareholder approval for three special resolutions. The first two resolutions concerned the change in designation of Mr. Pranav Bhalara (DIN: 03299470) and Mr. Kishor Nanalal Doshi (DIN: 07846262) from Executive Director to Whole-Time Director. Both appointments are for a five-year term from May 23, 2026, to May 22, 2031, and include a revision in remuneration. The third resolution sought approval to increase the overall limit of managerial remuneration payable to all Executive Directors of the company.

Voting Results

The postal ballot process, conducted through remote e-voting, saw strong participation from shareholders. A total of 3,784,100 votes were polled across all resolutions. The scrutinizer for the process was CS Janvi N. Davda, a Practicing Company Secretary.

Remuneration Details

The approvals authorize the Board to alter and vary the terms and conditions of the appointments and remuneration based on the recommendations of the Nomination & Remuneration Committee. The resolutions also provide consent for the payment of remuneration even if the total managerial remuneration exceeds the overall limit specified in Section 197 read with Schedule V of the Companies Act, 2013. The remuneration for the newly designated Whole-Time Directors is capped at ₹2 crore per annum, subject to revision every three financial years.

Shilp Gravures Ltd has appointed Manish Vasavada as Deputy Chief Executive Officer (Deputy CEO) effective June 15, 2026, strengthening its senior management leadership. The appointment is part of a strategic move to leverage his extensive operational experience to drive the company's future growth and business objectives. Vasavada brings nearly two decades of rich experience in the capital goods industry, having served as the Chief Operating Officer (COO) since April 2025.

The company disclosed the appointment details in a regulatory filing submitted under Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015. The terms of the appointment specify a full-time employment role. Vasavada is a qualified Mechanical Engineer with comprehensive exposure across the manufacturing value chain, including production, operations, planning, supply chain management, procurement, and sales.

Professional Background and Role

Vasavada has demonstrated strong leadership and strategic acumen in driving business growth, market development, and operational excellence throughout his career. His systematic and result-oriented approach to marketing has enabled organizations to strengthen their market presence and achieve sustainable growth. During his tenure as COO, he played a significant role in improving operational efficiencies, strengthening business processes, and supporting the company's growth initiatives.

The company highlighted that his hands-on leadership style, coupled with close monitoring of sales and operational functions, has contributed meaningfully to its performance. With his deep operational knowledge and customer-centric approach, the management believes he is well-positioned to support the company's strategic objectives in his new capacity as Deputy CEO.

Appointment Details