Eveready Industries India Limited has announced a comprehensive postal ballot process to seek shareholder approval for critical board governance matters. The company issued the postal ballot notice on November 5, 2025, with the cut-off date set for December 5, 2025.

Key Resolutions for Shareholder Approval

The postal ballot encompasses four significant resolutions that will shape the company's board structure and leadership composition.

Director Appointments and Re-appointments

The company seeks approval for multiple director-related matters through both ordinary and special resolutions:

Mr. Aditya Chand Burman (DIN: 00042277) has been proposed for appointment as Non-Executive Non-Independent Director, effective November 5, 2025. He currently serves as Director on the board of Dabur India Ltd and brings extensive experience from the consumer goods sector. A Chemistry Graduate from the University of Kansas, Mr. Burman is part of the strategic leadership team at Dabur, which operates across 120 countries.

Independent Director Re-appointments

Mr. Sourav Bhagat (DIN: 09040237), currently serving his first term as Independent Director since January 28, 2021, is proposed for re-appointment for a second term of three consecutive years from January 28, 2026, to January 27, 2029. Mr. Bhagat is a Partner at Fox Mandal law firm with nearly two decades of experience in corporate law and regulatory matters.

Mr. Sunil Sikka (DIN: 08063385), whose current term expires on April 20, 2026, is proposed for re-appointment as Independent Director for three consecutive years from April 21, 2026, to April 20, 2029. With over 40 years of experience in consumer electricals and lighting industry, he previously served as President of Havells India Ltd.

Board Expansion Initiative

The company proposes to increase the maximum number of directors from fifteen to sixteen. The current board strength stands at fourteen directors. This expansion aims to strengthen the board's collective capabilities and enhance governance standards by inducting additional seasoned professionals with specialized knowledge.

Voting Process and Timeline

The remote e-voting process will be conducted exclusively through electronic means via NSDL's platform:

Shareholders whose names appear in the Register of Members or List of Beneficial Owners as of the cut-off date are entitled to vote. The company has engaged National Securities Depository Limited (NSDL) to provide the remote e-voting facility.

Compliance and Governance

The postal ballot process complies with Sections 108 and 110 of the Companies Act, 2013, and Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The notice has been sent electronically to shareholders whose email addresses are registered with the company, its Registrar and Transfer Agent (Maheshwari Datamatics Private Limited), or depositories.

The resolutions, if passed by requisite majority, will be deemed to have been passed on the last date of voting, January 12, 2026. Results will be communicated to stock exchanges and made available on the company's website and NSDL's e-voting portal within statutory timelines.

Eveready Industries India , a leading battery and flashlight manufacturer, reported a 6.7% year-on-year revenue growth in the second quarter of fiscal year 2026 (Q2FY26). However, the company faced challenges due to one-time charges, resulting in a net loss for the quarter.

Financial Performance

The company's EBITDA margins remained healthy at 12.70%, reflecting strong underlying operating performance. However, Eveready incurred one-time charges totaling INR 37.70 crore, which significantly impacted its bottom line.

One-Time Charges

The one-time charges included:

1. INR 15.00 crore for arbitration settlement with Real Touch
2. INR 22.70 crore for strategic ex-gratia payments to 160 workers as part of manufacturing realignment

These charges resulted in a net loss of INR 7.90 crore for the quarter.

Segment Performance

Batteries

• Alkaline battery segment showed strong momentum with 60% growth
• Alkaline market share expanded to 16.30% from 15.30%
• Carbon zinc batteries maintained leadership with 59% market share across 4.5 million outlets

Flashlights

• Rechargeable flashlights delivered double-digit growth
• Battery-operated segment declined

LED Lighting

• Achieved healthy volume growth with 10.60% revenue increase

Strategic Developments

1. The Jammu alkaline battery facility, with a 360 million unit capacity, remains on track for completion by the end of FY26.
2. The arbitration settlement removes all capital structure restrictions, allowing the company freedom to manage assets and raise capital if needed.

Future Outlook

Eveready Industries is focusing on innovation, efficiency, and consumer engagement to navigate opportunities and deliver steady profitable growth. The company's strong distribution network of over 4.5 million outlets and strengthened digital route-to-market backbone continue to enhance market reach and channel efficiency.

The implementation of mandatory BIS certification for flashlights by January 2026 is expected to benefit organized players like Eveready, potentially leading to market consolidation.

While the company faces challenges in the short term due to one-time charges, its strong market position in batteries and growth in the alkaline and LED lighting segments suggest potential for recovery and growth in the coming quarters.