Khaitan (India) Limited , a prominent player in the Indian consumer durables sector, has received shareholder approval for several significant board appointments and remuneration packages at its 88th Annual General Meeting (AGM) held on September 25, 2025. The meeting, conducted through video conferencing, saw the passage of all seven resolutions put forth by the company's management.

New Independent Directors Join the Board

In a move to strengthen its corporate governance, Khaitan (India) Limited has brought on board two new Independent Directors:

• Ms. Pooja Kalanouria: A qualified Company Secretary with over 5 years of experience in compliance and governance.
• Ms. Ayushi Khaitan: A Company Secretary and Commerce postgraduate with more than 8 years of corporate governance expertise.

Both directors have been appointed to serve 5-year terms starting October 1, 2025.

Ms. Kalanouria brings valuable experience in company secretarial functions, SEBI (LODR) compliance, and governance practices. Her background includes serving as an Independent Director in listed entities and holding positions in NBFCs and real estate companies.

Ms. Ayushi Khaitan, with her extensive exposure to company law, SEBI regulations, and stock exchange compliance, is expected to contribute significantly to the company's regulatory adherence and corporate governance standards.

Whole-time Director Reappointment

The shareholders also approved the reappointment of Mr. Sunay Krishna Khaitan as Whole-time Director for a three-year term, effective October 1, 2025. Mr. Khaitan, who has been with the company as Executive Director since November 2016, brings nearly 15 years of experience in marketing fans and electrical appliances. His reappointment and remuneration package received overwhelming support from the non-promoter shareholders.

Other Key Resolutions

The AGM also saw the approval of other important resolutions, including:

1. Adoption of the audited financial statements for the year ended March 31, 2025.
2. Reappointment of the statutory auditors.
3. Appointment of a secretarial auditor for a five-year term.
4. Approval of material related party transactions with Ms. Vidita Khaitan.

Voting Results

All resolutions were passed with a significant majority. Notably, for the resolutions concerning related party transactions and the reappointment of Mr. Sunay Krishna Khaitan, the promoter group's votes were not considered to ensure fair and independent decision-making by public shareholders.

The strong shareholder support for these appointments and resolutions reflects confidence in the company's governance and future direction. As Khaitan (India) Limited moves forward with its refreshed board, the company appears well-positioned to leverage the diverse expertise of its leadership team in navigating the competitive consumer durables market.

Khaitan , a prominent player in the Indian spirits industry, saw its shares climb 2.17% to ₹2,933.30 following two significant developments: the launch of a luxury vodka brand and a bullish initiation by Jefferies.

Market Performance

The stock opened at ₹2,904.00, up from its previous close of ₹2,870.90, and reached an intraday high of ₹2,947.00. Trading was robust, with volumes reaching 1.10 lakh shares, amounting to ₹32.31 crore in value.

Luxury Vodka Launch

Khaitan introduced 'The Spirit of Kashmyr', India's first homegrown luxury vodka, in the Maharashtra and Goa markets. This premium offering is priced between ₹2,800.00 and ₹4,000.00, positioning it in the high-end segment of the spirits market. The brand has already gained recognition, winning the 'Best Luxury Vodka' award within a month of its launch in Uttar Pradesh.

Jefferies' Bullish Stance

Adding to the positive sentiment, Jefferies initiated coverage on Khaitan with a 'Buy' rating. The brokerage set a target price of ₹3,500.00, suggesting a potential upside of 19% from current levels. Jefferies named Khaitan as its top pick among spirits companies, projecting a compound annual growth rate of over 35% in earnings per share.

Broader Sector Outlook

Jefferies' optimism extends to the wider spirits sector. The brokerage also initiated 'Buy' ratings on United Spirits with a target price of ₹1,570.00 and Allied Blenders with a target of ₹620.00.

Growth Prospects and Risks

The brokerage anticipates double-digit revenue growth and margin expansion in the spirits category. However, it also highlighted potential risks, including regulatory challenges in key states and possible commodity inflation, particularly in ethanol and glass packaging.

Conclusion

The combination of a successful product launch and positive analyst coverage has boosted investor confidence in Khaitan. As the company continues to expand its premium offerings and capitalize on market opportunities, it remains to be seen how these developments will translate into long-term financial performance.