Eveready Industries' Managing Director Suvamoy Saha to Step Down in September 2025

1 min read     Updated on 24 Sept 2025, 06:28 PM
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Suketu GalaScanX News Team
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Overview

Eveready Industries India Limited has announced that Managing Director Suvamoy Saha will complete his tenure on September 30, 2025. Saha will also step down from the Board of Directors. The company expressed appreciation for Saha's services and guidance. This announcement was made in compliance with SEBI regulations and communicated to relevant stock exchanges.

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*this image is generated using AI for illustrative purposes only.

Eveready Industries India Limited , a prominent player in the battery and flashlight industry, has announced a significant change in its top leadership. Suvamoy Saha, the current Managing Director of the company, is set to complete his tenure on September 30, 2025.

Leadership Transition

According to a regulatory filing by Eveready Industries, Suvamoy Saha [DIN: 00112375] will conclude his term as the Managing Director at the close of business hours on September 30, 2025. Following this, he will also cease to be a member of the company's Board of Directors.

Company's Acknowledgment

In its official communication, Eveready Industries expressed its appreciation for Saha's contributions. The company stated, "The Company places on record its appreciation for the valuable services, guidance, and support rendered by Mr. Suvamoy Saha during his tenure with the Company."

Regulatory Compliance

The announcement was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Eveready Industries has duly informed the National Stock Exchange of India Ltd., BSE Limited, and The Calcutta Stock Exchange Limited about this development.

Looking Ahead

While the company has not yet announced a successor, this early notification provides Eveready Industries ample time to plan for a smooth leadership transition. The battery giant will likely keep shareholders and the market informed about its plans for the top management position in the coming months.

Eveready Industries' stock performance and future strategies will be closely watched by investors and industry analysts as the company prepares for this significant change in its executive leadership.

Historical Stock Returns for Eveready Industries

1 Day5 Days1 Month6 Months1 Year5 Years
-0.35%-2.41%-18.82%+19.88%-17.46%+158.03%
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Eveready Industries Seeks Shareholder Approval for Director Remuneration and Executive Pay Revision

2 min read     Updated on 15 Sept 2025, 01:24 PM
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Jubin VergheseScanX News Team
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Overview

Eveready Industries has initiated a postal ballot for two resolutions: 1) Proposing Rs 13.60 lakh remuneration for each of six Non-Executive Independent Directors, in addition to sitting fees. 2) Revising remuneration for Executive Director and CFO Bibek Agarwala, with a maximum limit of Rs 2.36 crore per annum plus performance awards up to Rs 25 lakh. E-voting will be open from September 17 to October 16, 2025, with results expected by October 18, 2025. The company reported revenue of Rs 1343.92 crore and profit of Rs 82.38 crore in the latest financial year.

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*this image is generated using AI for illustrative purposes only.

Eveready Industries India Limited , a leading player in the dry cell batteries, flashlights, and lighting products sector, has initiated a postal ballot to seek shareholder approval for two significant resolutions. The company aims to revise the remuneration structure for its non-executive independent directors and its Executive Director and CFO.

Non-Executive Independent Directors' Remuneration

The first resolution proposes a remuneration of Rs 13.60 lakh for each of the six Non-Executive Independent Directors based on the company's net profits for the financial year ended March 31, 2025. This remuneration would be in addition to the sitting fees and reimbursement of expenses for attending board and committee meetings.

The proposed remuneration is for the following Non-Executive Independent Directors:

  1. Mr. Roshan Louis Joseph
  2. Mr. Sunil Sikka
  3. Mr. Sunil Kumar Alagh
  4. Mr. Mahesh Shah
  5. Ms. Arundhuti Dhar
  6. Mr. Sourav Bhagat

The company's board believes this remuneration is justified given the directors' extensive experience, expertise, and the increasing demands of their roles in the evolving regulatory environment.

Executive Director and CFO Remuneration Revision

The second resolution seeks to revise the remuneration of Mr. Bibek Agarwala, the Executive Director and Chief Financial Officer. The proposed revision includes:

  • A maximum limit of Rs 2.36 crore per annum for basic salary, special pay allowances, other allowances, perquisites, benefits, and amenities.
  • Performance awards up to Rs 25 lakh per annum based on individual and company performance.

This revision, if approved, will be effective from April 1, 2025. The board has the authority to increase this remuneration annually, subject to a maximum overall limit of Rs 3.50 crore per annum.

E-Voting Details

Shareholders can cast their votes through e-voting, which will be open from September 17, 2025, to October 16, 2025. The results of the postal ballot are expected to be declared by October 18, 2025.

Company Performance

For context, Eveready Industries reported a revenue of Rs 1343.92 crore and a profit of Rs 82.38 crore for the latest financial year. This financial performance underscores the company's stable position in the market and provides a backdrop for the proposed remuneration changes.

The postal ballot notice emphasizes the critical role of Non-Executive Independent Directors in safeguarding the company's values, ensuring accountability, and strengthening governance practices. Similarly, the revision in Mr. Agarwala's remuneration is attributed to his significant contributions to the company's financial performance, strategic initiatives, and governance.

Shareholders will need to carefully consider these proposals in light of the company's performance and the evolving responsibilities of its leadership team.

Historical Stock Returns for Eveready Industries

1 Day5 Days1 Month6 Months1 Year5 Years
-0.35%-2.41%-18.82%+19.88%-17.46%+158.03%
Eveready Industries
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