Ucal Limited has confirmed the dispatch of its postal ballot notice to seek shareholder approval for the re-appointment of its Managing Director and other key directors. The company has completed the dispatch of the notice by electronic means only to members whose names appeared in the Register of Members as on July 3, 2026. The voting process will be conducted exclusively through remote e-voting from July 15, 2026, to August 13, 2026.

The Board of Directors has recommended the re-appointment of Mr. Jayakar Krishnamurthy as Chairman and Managing Director for a term of five years from September 1, 2026, to August 31, 2031. His remuneration will be denominated in USD, comprising a basic salary of USD 13,750 per month, a special allowance of USD 13,750 per month, and a house rent allowance of USD 5,500 per month, among other perquisites. The Board also seeks approval for the continuance of his employment beyond the age of 70 years.

Shareholders are also requested to approve an increase in the managerial remuneration of Mr. Adithya Srivatsa Jayakar, Deputy Managing Director, effective from July 1, 2026. The revised remuneration includes a basic salary of ₹3,30,000 per month and allowances of ₹3,15,601 per month. Additionally, the re-appointment of Mr. Ram Ramamurthy as Whole-time Director for two years from September 4, 2026, to September 3, 2028, has been proposed, with a basic salary of ₹4,25,000 per month.

The notice includes resolutions for the re-appointment of Mr. Ramachandran Sundar as Non-Executive and Independent Director for a second term of five years from November 13, 2026, to November 12, 2031. Mr. Abhaya Shankar has been proposed for re-appointment as Non-Executive and Non-Independent Director for two years from November 14, 2026, to November 13, 2028, with a monthly remuneration of ₹2,00,000.

Director Profiles and Tenures

Regulatory Disclosures

The postal ballot notice is issued pursuant to Section 110 of the Companies Act, 2013, and Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Mr. P. Muthukumaran of M/s P Muthukumaran & Associates has been appointed as the Scrutinizer for the e-voting process. The results of the postal ballot will be announced on or before August 17, 2026.

Ucal Ltd has accepted the resignation of T. Jaisankar from the position of Chief Executive Officer and Key Managerial Personnel effective June 30, 2026, due to health reasons. The company disclosed that Jaisankar will continue to be associated with Ucal Ltd as an employee, with his specific role and capacity to be determined by the Nomination and Remuneration Committee and the Board of Directors. Consequently, the resignation applies only to the office of Chief Executive Officer and does not result in the cessation of his employment with the company.

The intimation was made to the exchanges in compliance with Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was also submitted in accordance with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015, which outlines the requirements for Key Managerial Personnel changes.

In his resignation letter addressed to the Chairman and Managing Director, Jaisankar confirmed his decision to step down from the CEO role at the close of business hours on June 30, 2026. He reiterated his intention to continue serving the company as an employee under terms and responsibilities determined by the management. Jaisankar expressed gratitude to the Board of Directors, management, and colleagues for their support during his tenure as Chief Executive Officer.

The following table details the regulatory disclosure regarding the change in Key Managerial Personnel:

The filing was signed by S. Narayan, Company Secretary of Ucal Limited, on June 30, 2026.