Vikram Solar Completes Management Changes Through Postal Ballot Process
Vikram Solar Limited concluded its postal ballot process for management changes with shareholders approving all three director appointments. The company appointed Mr. Suresh Gopinathan Menon as Non-Executive Non-Independent Director and Mr. Joginder Pal Dua as Independent Director, while re-appointing Ms. Neha Agrawal as Whole-Time Director, all with overwhelming shareholder support exceeding 99% approval rates.
*this image is generated using AI for illustrative purposes only.
Vikram Solar Limited has successfully concluded its postal ballot process for management changes, with shareholders approving all three proposed director appointments through remote e-voting. The company formally notified stock exchanges on February 24, 2026, confirming the completion of the postal ballot process that concluded on February 20, 2026.
Postal Ballot Results and Approvals
The remote e-voting process commenced on January 22, 2026 at 9:00 a.m. IST and concluded on February 20, 2026 at 5:00 p.m. IST. All three resolutions were passed with overwhelming shareholder support, demonstrating strong confidence in the proposed management changes:
| Resolution | Director | Position | Approval Rate | Status |
|---|---|---|---|---|
| Resolution 1: | Mr. Suresh Gopinathan Menon | Non-Executive Non-Independent Director | 99.89% | Passed |
| Resolution 2: | Mr. Joginder Pal Dua | Independent Director | 99.99% | Passed |
| Resolution 3: | Ms. Neha Agrawal | Whole-Time Director (Re-appointment) | 99.99% | Passed |
Director Appointment Details
Mr. Suresh Gopinathan Menon (DIN: 09721950) was appointed as a Non-Executive Non-Independent Director effective December 1, 2025. He holds a Master of Science degree in Physics from the University of Poona and a Master of Technology degree in Computer Science from IIT Madras. After a successful 36-year executive career with Tata Consultancy Services Ltd., he superannuated in May 2022 as Senior Vice President.
Mr. Joginder Pal Dua (DIN: 02374358) was appointed as an Independent Director for a five-year term from December 1, 2025 to November 30, 2030. He holds a degree in Law from Meerut University and Masters in Economics from Punjab University. He served Oriental Bank of Commerce for over 30 years and later served as Chairman & Managing Director of Allahabad Bank.
Ms. Neha Agrawal (DIN: 05321461) was re-appointed as Whole-Time Director for three consecutive years from March 22, 2026 to March 21, 2029. She brings over 14 years of experience in solar module manufacturing and currently heads strategy and international business operations for the company.
Shareholder Participation Analysis
The voting results demonstrated strong participation across shareholder categories with a total of 241,027,691 votes polled representing 66.52% of outstanding shares:
| Category | Shares Held | Votes Polled | Participation Rate |
|---|---|---|---|
| Promoter and Promoter Group: | 228,318,938 | 216,979,792 | 95.03% |
| Public Institutions: | 23,386,349 | 17,549,265 | 75.04% |
| Public Non-Institutions: | 110,624,894 | 6,498,634 | 5.87% |
| Total: | 362,330,181 | 241,027,691 | 66.52% |
Regulatory Compliance and Disclosure
The postal ballot process was conducted in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Mr. A. K. Labh, Practicing Company Secretary (Membership No: FCS 4848/ CP-3238), served as the scrutinizer for the voting process and submitted his report on February 23, 2026. The company has made the voting results available on its website and stock exchange platforms as per regulatory requirements.
Historical Stock Returns for Vikram Solar
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.89% | -17.46% | -5.46% | -47.98% | -47.98% | -47.98% |
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