SKF India (Industrial) Limited shareholders have approved the appointment of Sujeeth Pai as Managing Director and Mukund Vasudevan as a Non-Executive, Non-Independent Director. The resolutions were passed through remote e-voting with overwhelming support from both promoter and public shareholders.

The postal ballot voting concluded on October 15, 2026. The e-voting period commenced on September 16, 2026, at 9:00 am and ended on October 15, 2026, at 5:00 pm. The results were scrutinized by Jayavant B. Bhave of J. B. Bhave & Co., Company Secretaries.

Resolution on Managing Director appointment

The first resolution sought approval for the change in designation of Sujeeth Pai from Whole-Time Director to Managing Director, effective September 1, 2026, for a consecutive term of five years. It also covered the remuneration payable to him. The resolution was passed as an Ordinary Resolution.

Profile of Sujeeth Pai

Sujeeth Pai holds a Mechanical Engineering degree from P.E.S.I.T, Bangalore, and an MBA from ISB, Hyderabad. He brings 20 years of multidimensional experience focused on driving growth and profitability through employee, partner, and customer success. His background includes building proof of concepts, providing technical support, and leading P&L across the region to deliver double-digit growth. He is not related to any Directors, Key Managerial Personnel, or Promoters of the company.

Resolution on Non-Executive Director appointment

The second resolution involved the resignation of Mukund Vasudevan as Managing Director and his subsequent appointment as a Non-Executive, Non-Independent Director. This resolution also secured the requisite majority and was passed as an Ordinary Resolution.

Profile of Mukund Vasudevan

Mukund Vasudevan holds a Bachelor of Technology from Indian Institute of Technology (IIT), Mumbai, and an MBA in Finance and Strategy from the University of Chicago. He is an entrepreneurial and result-oriented executive with over 25 years of experience in P&L management, strategy development, sales, and M&A in India, the Middle East, and USA. He possesses strong commercial and operational skills and is a collaborative leader with a track record of building high-performance teams. He is not related to any Directors, Key Managerial Personnel, or Promoters of the company.

What the Numbers Show

The voting data reveals a distinct pattern in shareholder engagement across different investor categories. While the Promoter group voted unanimously in favor of both resolutions, representing 100% of their holding, public institutional investors showed slightly higher dissent on the second resolution compared to the first. For the MD appointment, 0.67% of polled institutional votes were against, whereas this figure rose marginally to 0.68% for the Non-Executive Director appointment. This suggests that while the transition was broadly supported, there was a consistent, albeit small, level of skepticism among institutional holders regarding the board restructuring, which remained stable across both related resolutions.

SKF India (Industrial) skf india industrial has issued a postal ballot notice seeking shareholder approval for key board changes, including the appointment of a new managing director. The resolutions require member consent through remote e-voting.

The company is seeking approval to change the designation of Mr. Sujeeth Pai from Whole-Time Director to Managing Director, effective September 1, 2026. Additionally, shareholders will vote on the appointment of Mr. Mukund Vasudevan as a Non-Executive, Non-Independent Director.

Key Resolutions

The postal ballot notice outlines two ordinary resolutions for member consideration:

• Approval of Mr. Sujeeth Pai’s change in designation to Managing Director for a five-year term starting September 1, 2026.
• Appointment of Mr. Mukund Vasudevan as a Non-Executive Director, effective September 1, 2026.

Remuneration Structure

Mr. Pai’s compensation package includes a basic salary of INR 81,57,278 per annum and a Flexible Pay Plan worth INR 96,41,087 per annum. The total gross salary will be revised annually from April 1, 2027. The package also includes retirement benefits such as Provident Fund, Superannuation, and Gratuity contributions by the company.

Variable pay components include Short-Term Variable Salary (STVS) under the Group Bonus Plan and Long-Term Variable Salary (LTVS) under the Group LTVS program. Perquisites include a company car with driver, club membership, mobile reimbursement, and medical insurance coverage.

E-Voting Process

Shareholders holding shares as on the cut-off date of September 4, 2026, are eligible to vote. The remote e-voting period commences on September 16, 2026, at 9:00 am and ends on October 15, 2026, at 5:00 pm. NSDL has been appointed to facilitate the e-voting process. The scrutinizer for the process is Mr. Jayavant B Bhawe of M/s. J. B. Bhawe & Co., Company Secretaries.

Board Composition Changes

Mr. Mukund Vasudevan, who served as Managing Director since October 1, 2025, will step down from that role to join the board as a Non-Executive Director. This transition follows internal role changes within the SKF Group. Both directors do not hold any shares in the company.