Magadh Sugar Energy Shareholders Approve Director Appointment via Postal Ballot

Magadh Sugar & Energy Limited , a key player in the Indian sugar industry, has successfully completed a postal ballot process for the appointment of Mrs. Shalini Nopany as Non-Executive Director. The company had earlier reported challenging Q2 financial results with wider net losses and declining EBITDA performance.

Postal Ballot Results

The company announced the results of its postal ballot conducted under Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The voting process concluded on December 18, 2025, with overwhelming shareholder support for the proposed resolution.

Voting Details:	Results
Total Votes Polled:	87,98,225
Votes in Favor:	87,88,840
Votes Against:	9,385
Approval Percentage:	99.89%
Cut-off Date:	November 14, 2025

Director Appointment Details

The ordinary resolution for the appointment of Mrs. Shalini Nopany (DIN: 00077299) as Non-Executive Director received requisite majority approval from shareholders. The appointment is effective from November 12, 2025, as previously announced by the company.

Appointment Details:	Information
Director Name:	Mrs. Shalini Nopany
DIN Number:	00077299
Position:	Non-Executive Director
Effective Date:	November 12, 2025
Educational Background:	Honours Degree in Commerce (University of Delhi), MBA (University of Pittsburgh, USA)

Voting Process and Compliance

The postal ballot process was conducted through remote e-voting platform provided by National Securities Depository Limited (NSDL). Mr. Mohan Ram Goenka, Practicing Company Secretary (FCS No. 4515), served as the Scrutinizer for the voting process.

The e-voting period commenced on November 19, 2025, at 9:00 AM IST and concluded on December 18, 2025, at 5:00 PM IST. A total of 103 members participated in the voting process through the remote e-voting platform.

Recent Financial Performance Context

This corporate governance development comes after the company reported challenging Q2 results earlier. The company had faced significant financial strain with net loss widening to ₹104.00 crore from ₹54.00 crore in the corresponding quarter of the previous year, representing a 92.6% increase.

Q2 Financial Highlights:	Current Quarter	Previous Year Quarter	Change
Net Loss:	₹104.00 crore	₹54.00 crore	+92.6%
Revenue:	₹324.41 crore	₹323.85 crore	+0.17%
EBITDA:	₹1.80 crore	₹20.90 crore	-91.4%
EBITDA Margin:	0.55%	6.44%	-589 bps

Board Composition and Governance

With Mrs. Shalini Nopany's appointment, the company strengthens its board composition under the leadership of Chairperson Chandra Shekhar Nopany. The appointment reflects the company's commitment to enhancing corporate governance practices.

Interested parties including Mr. Chandra Shekhar Nopany, Mrs. Urvi Mittal, and Mr. Arhant Vikram Nopany abstained from participating or voting on this resolution due to their interest in the matter, ensuring proper governance protocols were followed.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.31%	-8.09%	-10.91%	-30.83%	-17.68%	+289.17%

Magadh Sugar & Energy Limited , a prominent player in the sugar industry, has announced significant changes in its leadership team along with the release of its Q1 financial results.

Leadership Transition

The company's Board of Directors, in a meeting held on August 5, approved several key changes in its top management:

CFO Resignation: Mr. Manoj Prasad has stepped down from his position as Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) of the company, effective from the close of business hours on August 5. Mr. Prasad's decision to resign stems from his desire to focus more on operational financial matters of the company's Hasanpur unit.
New Role for Mr. Prasad: While relinquishing his CFO duties, Mr. Prasad will continue to serve the company as Vice President (Finance) of the Hasanpur Unit, ensuring a smooth transition and maintaining his valuable expertise within the organization.
New CFO Appointment: Mr. Aditya Baheti has been appointed as the new Chief Financial Officer and Key Managerial Personnel, effective August 6. Mr. Baheti brings with him over 15 years of post-qualification experience in Accounting and Finance functions, and is a qualified Chartered Accountant.

Revised Key Managerial Personnel

Following these changes, the company's updated list of Key Managerial Personnel, effective August 6, is as follows:

Designation	Name
Whole-time Director	Mr. Pankaj Singh
Chief Financial Officer	Mr. Aditya Baheti
Company Secretary	Mr. S Subramanian

Q1 Financial Results

In the same board meeting, Magadh Sugar & Energy Limited also approved the unaudited financial results for the quarter ended June 30. The company has stated that these results, along with the Auditors' Limited Review Report, will be made available on their official website at www.magadhsugar.com .

Regulatory Compliance

In compliance with SEBI regulations, the company has authorized its Key Managerial Personnel to determine the materiality of events or information and make necessary disclosures to stock exchanges. This authorization is effective from August 6, and includes Mr. Pankaj Singh (Whole-time Director), Mr. Aditya Baheti (Chief Financial Officer), and Mr. S Subramanian (Company Secretary).

The management changes and financial results announcement demonstrate Magadh Sugar & Energy Limited's commitment to strategic growth and transparent corporate governance. As the company moves forward with its new financial leadership, stakeholders will be keen to observe the impact on its operational and financial performance in the coming quarters.