De Nora India Shareholders Approve Board Changes with 99.9998% Majority
De Nora India Limited successfully completed its postal ballot process with shareholders approving all three resolutions with 99.9998% majority. The approved resolutions include appointment of Mr. Deepak Nagvekar as Whole-time Director, Mr. Guido Picari as Non-Executive Director, and re-appointment of Mr. Purushottam Mantri as Independent Director. The company also reported strong Q2 2025 financial performance with revenue growth of 20.45% and profit growth of 18.01% compared to the previous year.
*this image is generated using AI for illustrative purposes only.
De Nora India Limited , a leading company in electrode technologies, has successfully completed its postal ballot process with shareholders overwhelmingly approving all proposed resolutions. The company earlier announced its strong Q2 2025 financial results alongside significant board changes.
Postal Ballot Results
The company declared the results of its postal ballot conducted through remote e-voting on December 16, 2025. All three resolutions were approved with requisite majority:
| Resolution: | Votes in Favour | Votes Against | Approval Rate |
|---|---|---|---|
| Appointment of Mr. Deepak Nagvekar as Whole-time Director | 2,889,148 | 7 | 99.9998% |
| Appointment of Mr. Guido Picari as Non-Executive Director | 2,889,148 | 7 | 99.9998% |
| Re-appointment of Mr. Purushottam Mantri as Independent Director | 2,889,148 | 7 | 99.9998% |
The remote e-voting process commenced on November 16, 2025, and concluded on December 15, 2025. Ms. Rakhee Raghunath Malkarnekar, Practicing Company Secretary, served as the scrutinizer for the postal ballot process.
Financial Performance Highlights
The company reported strong financial performance for Q2 2025:
| Particulars (in ₹ Lakhs): | Q2 2025 | Q2 2024 | H1 2025 | H1 2024 |
|---|---|---|---|---|
| Revenue from Operations | 2,184.41 | 1,813.45 | 6,381.34 | 3,089.27 |
| Total Income | 2,354.28 | 1,978.09 | 6,786.91 | 3,388.18 |
| Profit Before Tax | 520.51 | 444.38 | 954.72 | 832.43 |
| Profit for the Period | 387.20 | 328.12 | 712.42 | 616.30 |
| EPS (Basic and Diluted) | 7.29 | 6.18 | 13.41 | 11.61 |
The company's revenue from operations for Q2 2025 increased by 20.45% compared to Q2 2024, while the profit for the period grew by 18.01%. For the half-year, revenue from operations saw a significant jump of 106.56%, with profit increasing by 15.59%.
Board Composition Changes
With shareholder approval now secured, the following board changes are effective:
| Position: | Director | Status |
|---|---|---|
| Whole-time Director | Mr. Deepak Nagvekar | Approved appointment |
| Non-Executive Director | Mr. Guido Picari | Approved appointment (effective November 5, 2025) |
| Independent Director | Mr. Purushottam Mantri | Approved re-appointment for 5-year term |
| Non-Executive Director | Mr. Robert Scannell | Resigned (November 5, 2025) |
Mr. Guido Picari brings over 15 years of international experience in finance and treasury management, while Mr. Purushottam Mantri continues his association with over four decades of experience in corporate law and compliance. Mr. Robert Scannell resigned citing his superannuation from the De Nora Group.
Corporate Governance
During Q2 2025, the company recognized provisions of ₹427.15 lakhs relating to warranty, based on past warranty claims and other relevant factors. The voting results and scrutinizer's report are hosted on the company's website and the Central Depository Services platform.
These developments reflect De Nora India's commitment to strong corporate governance and strategic growth, with the overwhelming shareholder support demonstrating confidence in the company's leadership decisions.
Historical Stock Returns for De Nora
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.35% | -1.18% | -16.16% | -36.74% | -44.33% | +130.68% |
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