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.

Eveready Industries India Ltd. , a leading manufacturer of batteries and flashlights, is set to embark on a strategic initiative to unlock value from its underutilized resources. The company's Managing Director has announced plans to initiate preliminary discussions for monetizing unused land and idle assets.

Strategic Move to Optimize Resources

The decision to explore the monetization of unused land and idle assets represents a significant step for Eveready Industries. This move is aimed at:

1. Unlocking Hidden Value: By identifying and potentially selling or leasing unused land and idle assets, the company could generate additional revenue streams.

2. Improving Asset Utilization: The initiative demonstrates a proactive approach to optimizing the company's asset portfolio.

3. Enhancing Shareholder Value: Successful monetization could potentially boost the company's financial position and, in turn, benefit shareholders.

Initial Discussions Underway

According to the announcement, Eveready Industries is in the early stages of this process. The Managing Director stated that the company will begin initial discussions to explore various options for monetizing these underutilized resources.

Potential Impact

While specific details about the unused land and idle assets have not been disclosed, this strategic move could have several implications:

• Financial Benefits: Monetization could lead to an influx of cash or recurring revenue, depending on the chosen approach (sale, lease, or other arrangements).
• Operational Efficiency: By divesting non-core or unused assets, the company may streamline its operations and focus on its primary business activities.
• Future Growth: The proceeds from asset monetization could potentially be reinvested in core business areas or used to fund expansion plans.

As Eveready Industries moves forward with these discussions, stakeholders will be keen to learn more about the extent of the unused land and idle assets, as well as the potential value that could be unlocked through this initiative.

The company has not provided a timeline for the completion of these discussions or any potential transactions. Investors and industry observers will likely watch closely for further updates on this strategic move by Eveready Industries.