Shree Renuka Sugars Limited has announced a postal ballot notice seeking shareholder approval for material related party transactions (RPTs) worth Rs. 25,627 crores with three Wilmar group entities for the financial year 2026-27. The company has scheduled e-voting from March 10, 2026 to April 8, 2026, with results expected by April 10, 2026.

Postal Ballot Schedule and Process

The company has established a comprehensive timeline for the postal ballot process, with all communications being conducted electronically in compliance with Ministry of Corporate Affairs circulars.

The postal ballot notice has been sent electronically to shareholders whose email addresses are registered with the company's registrar KFin Technologies Limited or depositories. CS Gaurav Kulkarni of SKGK Associates LLP has been appointed as the scrutinizer to monitor the e-voting process.

Material Related Party Transactions Overview

The company is seeking approval for three significant related party transactions, all with entities under the Wilmar group umbrella. These transactions are considered material as they exceed 10% of the company's annual consolidated turnover of Rs. 10,914 crores for FY 2024-25.

Transaction Details with Wilmar Sugar Pte. Ltd.

The largest transaction involves Wilmar Sugar Pte. Ltd. (WSPL), valued at Rs. 20,625 crores, representing 189% of the company's annual consolidated turnover. This comprehensive arrangement includes multiple components:

Purchase of Raw Sugar (Rs. 11,720 crores): The transaction involves purchasing raw sugar with pricing indexed to the Intercontinental Exchange (ICE) New York Sugar No. 11 contract. Payment terms include a maximum credit period of 180 days with interest applicable at SOFR + 250 basis points.

Sale of Sugar Products (Rs. 6,280 crores): The company will sell both raw and white sugar along with other sugar-related products, with pricing linked to ICE London Sugar No. 5 contract on a cash-against-documents basis.

OTC Commodity Derivatives (Rs. 2,625 crores): The arrangement includes over-the-counter commodity derivative products and futures derivatives to hedge commodity price risks, indexed to ICE New York No. 11 or London No. 5 contracts.

Wilmar Sugar India Private Limited Transactions

The second major transaction involves Wilmar Sugar India Private Limited (WSIPL) for Rs. 3,002 crores, comprising three distinct elements:

• Sugar Purchases (Rs. 3,000 crores): Procurement of both raw and white sugar and related products covered under chapter 17 of HS Code
• RoDTEP Scrips Purchase (Rs. 1 crore): Acquisition of Refund of Duties and Taxes on Exported Products scrips at competitive market rates
• Employee Cost Reimbursement (Rs. 1 crore): Charging salary costs of a company employee providing services to WSIPL

Wilmar Agri Trading DMCC Agreement

The third transaction with Wilmar Agri Trading DMCC involves sugar sales worth Rs. 2,000 crores, representing 18.32% of the company's annual consolidated turnover. This arrangement focuses on exporting sugar products to Middle East and North Africa markets, with pricing indexed to London Sugar No. 5 or New York Sugar No. 11 contracts.

Strategic Rationale and Compliance

The company has justified these transactions based on operational efficiency, supply chain reliability, and strategic advantages within the Wilmar group's global network. All transactions are structured to be conducted at arm's length basis, except for the employee cost reimbursement arrangement.

The Audit Committee, comprising independent directors, approved these transactions on February 4, 2026, followed by Board approval on February 5, 2026. The committee confirmed that promoters will not benefit from these transactions at the expense of public shareholders.

Voting and Regulatory Framework

Shareholders as of the March 6, 2026 cut-off date are eligible to participate in the e-voting process. The transactions require approval through ordinary resolutions, with related parties restricted from voting on these proposals as per SEBI Listing Regulations.

The company has made the postal ballot notice available on its website, stock exchange platforms, and KFin Technologies' e-voting portal. Technical support for e-voting is available through both NSDL and CDSL platforms for demat account holders.

Shree Renuka Sugars Limited has announced the appointment of Mr. Vishesh Kathuria as an Alternate Director, marking a strategic addition to its board structure. The appointment was formalized through a resolution passed by circulation on March 3rd, 2026, following approval by the Board of Directors and recommendation from the Nomination and Remuneration Committee.

Appointment Details

The company has appointed Mr. Vishesh Kathuria (DIN: 08477542) as an Alternate Director to Mr. Charles Cheau Leong Loo (DIN: 08737827), who serves as a Non-Executive & Non-Independent Director. The appointment complies with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Professional Background

Mr. Kathuria brings substantial expertise to the role, with close to 20 years of leadership experience across multiple domains. He holds a B. Tech (ICT) engineering degree and is a postgraduate in Finance Management. His professional experience spans corporate strategy, investment banking, business development, and trade finance operations.

His areas of expertise include:

• P&L ownership and capital allocation
• Cross-border M&A transactions
• Structured fundraising initiatives
• Portfolio optimization
• Complex banking negotiations across Asia, the GCC, and the Americas

Career Experience

Mr. Kathuria has previously held key positions at IMAP India and Shree Renuka Sugars Limited, where he was responsible for driving end-to-end transaction execution, investor engagement, and value creation initiatives. He is currently associated with Wilmar Agri Trading DMCC in Dubai, bringing international market experience to his new role.

Terms of Appointment

The appointment follows specific terms outlined by the company. Mr. Kathuria will continue as an alternate director as long as Mr. Charles Cheau Leong Loo remains a Director of the Company. His tenure will automatically cease when Mr. Charles ceases to be a Director, whether due to retirement by rotation or other circumstances. The provision for automatic re-appointment on retirement by rotation applies exclusively to Mr. Charles.

Regulatory Compliance

The Board of Directors and the Nomination and Remuneration Committee have confirmed that Mr. Kathuria is not debarred from holding the office of Director pursuant to any SEBI order or other regulatory authority. The company has disclosed that Mr. Kathuria is not related to any of the Directors or Key Managerial Personnel of the Company, ensuring independence in governance structure.