Windsor Machines Limited shareholders have approved the sale of its industrial property in Thane, Maharashtra, alongside key managerial appointments and remuneration revisions. The resolutions were passed via a remote e-voting process that concluded on June 27, 2026, as detailed in the scrutinizer's report submitted to the stock exchanges.

The company sought approval to sell, transfer, or otherwise dispose of immovable properties, specifically Industrial Plots along with Building Construction and fixed assets located at Plots No. E-6 and E-6(A) in the Wagale (Thane) Industrial Area. This proposal was approved under Section 180(1)(a) of the Companies Act, 2013. Additionally, shareholders sanctioned an increase in the limit of managerial remuneration payable to Mr. Vinay Bansod, Whole-time Director and Chief Executive Officer.

In a significant governance development, the postal ballot also approved the appointment of Mr. Dharmendra Becharbhai Varasada as an Executive Director of the company for a term of three consecutive years. All three proposals were passed as special resolutions, requiring a higher threshold of shareholder approval.

Voting Results

The remote e-voting was conducted by Central Depository Services (India) Limited (CDSL), with Ms. Rama Subramanian, Company Secretary in Practice, serving as the Scrutinizer. The voting period commenced on May 29, 2026, and concluded on June 27, 2026. A total of 60 members participated in the process, representing 48,084,454 shares.

The Scrutinizer certified that the special resolutions were passed with the requisite majority. The record date for determining eligibility was May 22, 2026. The results were declared to BSE Limited and National Stock Exchange of India Limited on June 29, 2026.

Windsor Machines Limited has scheduled a remote e-voting process from May 29, 2026, to June 27, 2026, seeking shareholder approval for the sale of its immovable property in Thane and alterations to managerial remuneration. The company aims to monetize non-operational assets to fund expansion, while also seeking to increase the compensation cap for its Chief Executive Officer and appoint a new Executive Director. The company reported a net loss of ₹4.43 crore for the year ended March 31, 2026, attributed to exceptional one-time settlement costs for workmen, and expects improved profitability following the consolidation of operations at Chibhda, Rajkot.

The Board has identified the industrial plots located at Plots No. E-6 and E-6(A) in the Wagale (Thane) Industrial Area, Maharashtra, as non-operational and no longer required for business purposes. The proposed sale involves land admeasuring approximately 21,912 square meters along with building construction and fixed assets. The consideration received from the disposal is intended to be utilized towards the expansion of the company's operations.

Special Resolutions

Shareholders will vote on three special resolutions during the postal ballot period. The first resolution seeks approval to sell, transfer, or otherwise dispose of the Thane property under Section 180(1)(a) of the Companies Act, 2013. The second resolution proposes increasing the limit of managerial remuneration payable to Mr. Vinay Bansod, Whole Time Director and Chief Executive Officer. The third resolution seeks approval for the appointment of Mr. Dharmendra Becharbhai Varasada as an Executive Director for a term of three consecutive years.

Remuneration and Appointments

The company proposes to increase the remuneration limit for Mr. Vinay Bansod from ₹92,50,009 per annum to ₹1,00,00,000 per annum as fixed remuneration, with an additional ₹45,00,000 per annum as variable performance pay. This adjustment is effective from April 01, 2026, until the conclusion of his tenure on May 12, 2027. Additionally, the Board has appointed Mr. Dharmendra Becharbhai Varasada as an Additional Director designated as Executive Director, effective May 09, 2026, subject to shareholder approval. His proposed remuneration is not exceeding ₹96,00,004 per annum.

E-Voting Details

The remote e-voting facility will be available from 9.00 A.M. (IST) on Friday, May 29, 2026, until 5.00 P.M. (IST) on Saturday, June 27, 2026. Members whose names appear in the Register of Members or List of Beneficial Owners as of the cut-off date, Friday, May 22, 2026, are eligible to vote. The results of the postal ballot are expected to be declared on or before Monday, June 29, 2026.