Valor Estate shareholders approve pay revisions for top executives

Valor Estate Ltd shareholders have approved the revision of remuneration for its top executives, Mr. Vinod K. Goenka and Mr. Shahid Balwa, through a postal ballot process that concluded on July 9, 2026. The special resolutions were passed with the requisite majority, securing over 89% assent from the votes polled. The voting was conducted via remote e-voting from June 10, 2026, to July 9, 2026, under the supervision of scrutinizer Mr. Vicky Kundaliya of M/s. V. M. Kundaliya & Associates.

Postal Ballot Results

The company sought shareholder approval for two special resolutions regarding the remuneration of its Executive Chairman cum Managing Director, Mr. Vinod K. Goenka (DIN: 00029033), and Executive Vice Chairman cum Managing Director, Mr. Shahid Balwa (DIN: 00016839). The total number of valid votes polled for the resolution regarding Mr. Goenka was 187,837,293, representing 34.63% of the total outstanding shares. For the resolution regarding Mr. Balwa, 160,285,068 valid votes were polled, representing 29.55% of the total outstanding shares.

Voting Breakdown

The resolutions received mixed responses across different shareholder categories. While the promoter group voted entirely in favour of both resolutions, public institutions largely voted against them. Public non-institutions overwhelmingly supported the proposals.

Resolution 1: Mr. Vinod K. Goenka

Category	Votes For	Votes Against	% For	% Against
Promoter and Promoter Group	125,734,669	0	100.00	0.00
Public Institutions	3,847,970	17,061,379	18.40	81.60
Public Non-Institutions	40,875,444	317,831	99.23	0.77
Total	170,458,083	17,379,210	90.75	9.25

Resolution 2: Mr. Shahid Balwa

Category	Votes For	Votes Against	% For	% Against
Promoter and Promoter Group	98,188,244	0	100.00	0.00
Public Institutions	3,847,970	17,061,379	18.40	81.60
Public Non-Institutions	40,872,039	315,436	99.23	0.77
Total	142,908,253	17,376,815	89.16	10.84

Procedural Details

The postal ballot notice was dated May 29, 2026, with the record date fixed as June 5, 2026. A total of 89,820 shareholders were eligible to vote. The scrutinizer's report confirmed that the results were declared on July 10, 2026, and the resolutions were deemed to have been passed on the last day of voting. The company has made the detailed results available on its website and the National Securities Depository Limited (NSDL) e-voting portal.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+2.16%	+6.38%	+6.12%	+11.37%	-43.35%	+333.39%

Valor has been ranked No. 57 on the 2026 Fortune Best Workplaces in Texas list for small and medium-sized businesses. This marks the second time the Fort Worth-based specialty asset management company has appeared on the prestigious list. The recognition, determined by Great Place To Work and Fortune magazine, is based on employee survey data that assesses the consistency of positive workplace experiences and trust within organizations.

To determine the rankings, Great Place To Work surveyed nearly 100,000 employees at eligible companies via its proprietary platform. Companies were evaluated on their ability to create a great workplace culture for all employees. Valor surpassed rigorous benchmarks to secure its position among the top companies headquartered in Texas.

Joseph DeWoody, CEO & Co-founder of Valor, attributed the recognition to the company's workforce. He stated that the company remains proud to call Texas home and is grateful for the employees whose feedback and dedication make the company an exceptional place to work. Michael C. Bush, CEO of Great Place To Work, noted that companies focusing on people are more resilient and effective in demanding business environments.

Valor Service Lines

Valor provides specialty asset management services, focusing on mineral management and oil and gas outsourcing. Since its founding in 2018, the company has established itself as a provider of back-office operations for operators and investors.

Service Category	Specific Offerings
Mineral Management	Mineral rights management, oil and gas consulting, mineral management software (mineral.tech®)
Outsourcing Services	Owner relations support, oil and gas accounting, regulatory compliance

The company utilizes its proprietary mineral.tech® software to map, visualize, and report on oil and gas assets for individual and institutional clients. Valor has previously been recognized on the Inc. 5000 list and Fort Worth Inc.'s Best Companies to Work For list.