News Stocks Mangalam Cement Issues Postal Ballot Notice for Director Re-appointment with Enhanced RemunerationMangalam Cement Issues Postal Ballot Notice for Director Re-appointment with Enhanced Remuneration
Mangalam Cement Limited issued a postal ballot notice on March 6, 2026, for re-appointing Shri Anshuman Vikram Jalan as Whole Time Director for three years (April 1, 2026 to March 31, 2029) with enhanced remuneration including basic salary of Rs. 18,50,000 to Rs. 28,00,000 per month and special allowance of Rs. 15,50,000 to Rs. 20,00,000 per month. E-voting is scheduled from March 7 to April 5, 2026, with results by April 7, 2026. The company reported declining financial performance with net revenue of Rs. 1,68,098.78 lakh in FY 2024-25 versus Rs. 1,72,548.09 lakh in FY 2023-24.
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Mangalam Cement Limited has issued a postal ballot notice seeking shareholder approval for the re-appointment of its Whole Time Director. The company's board has proposed enhanced remuneration terms as part of the three-year extension.
Re-appointment Proposal Details
The company seeks approval for re-appointing Shri Anshuman Vikram Jalan (DIN: 01455782) as Whole Time Director for a further period of three years from April 1, 2026 to March 31, 2029. The Board of Directors and Nomination & Remuneration Committee approved this proposal at their meeting held on February 6, 2026.
| Parameter | Details |
|---|---|
| Tenure | April 1, 2026 to March 31, 2029 |
| Board Approval Date | February 6, 2026 |
| Current Shareholding | 2,85,236 (1.04%) Equity Shares |
| Previous Remuneration (FY 2024-25) | Rs. 4.70 Crore |
Proposed Remuneration Structure
The remuneration package includes multiple components with provision for periodic increases:
Salary and Allowances
| Component | Range | First Increase |
|---|---|---|
| Basic Salary | Rs. 18,50,000 to Rs. 28,00,000 per month | April 1, 2027 |
| Special Allowance | Rs. 15,50,000 to Rs. 20,00,000 per month | April 1, 2027 |
| Commission | Not exceeding 1% of net profit | As determined by Board |
Perquisites and Benefits
The package includes comprehensive benefits covering:
- Provident Fund and Superannuation Fund contributions
- Gratuity as per Payment of Gratuity Act
- Leave entitlements and encashment facilities
- Leave Travel Concession up to one month basic salary
- Medical expenses and insurance coverage
- Personal accident policy reimbursement
- Three club facility memberships including admission fees
- Company car with chauffeur
- Reimbursement of business-related expenses
Voting Process and Timeline
The company has established a comprehensive e-voting framework for shareholder participation:
| Event | Date/Period |
|---|---|
| Cut-off Date | Friday, February 27, 2026 |
| E-voting Period | March 7, 2026 (9:00 AM) to April 5, 2026 (5:00 PM) |
| Result Declaration | On or before Tuesday, April 7, 2026 |
| Scrutinizer | CS Akshit Kumar Jangid (FCS 11285) |
The postal ballot notice is being sent electronically to shareholders whose email addresses are registered with the company or depositories. NSDL has been engaged to facilitate the e-voting process.
Company Financial Performance
The company's recent financial performance provides context for the remuneration proposal:
| Financial Metric | FY 2024-25 (Rs. in Lakh) | FY 2023-24 (Rs. in Lakh) | Change |
|---|---|---|---|
| Net Revenue from Operations | 1,68,098.78 | 1,72,548.09 | Decline |
| Profit Before Tax | 6,998.90 | 9,911.05 | Lower |
| Net Profit After Tax | 4,506.31 | 5,971.66 | Reduced |
| Earnings Per Share | Rs. 16.39 | Rs. 21.72 | Decreased |
Director Profile and Experience
Shri Anshuman Vikram Jalan, aged 49 years, serves as Chairman and has been associated with the company since his first appointment as Whole Time Director on July 30, 2009. He holds a B.Com (Honours) degree from St. Xavier's College, Kolkata, and completed management courses in marketing and corporate finance from London School of Economics, UK.
His experience spans over two decades in manufacturing company management since 1998, providing expertise in business administration. During FY 2024-25, he attended all five Board meetings, and four out of four meetings held during FY 2025-26 until February 2026.
Regulatory Compliance
The proposal complies with various regulatory requirements including Sections 196, 197, 198, and 203 of the Companies Act, 2013, along with Schedule V provisions. The appointment also adheres to SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.
The overall remuneration structure ensures compliance with prescribed limits under the Companies Act, 2013, with provisions for minimum remuneration during periods of inadequate profits. The company has appointed practicing company secretaries as scrutinizers to ensure transparent voting processes.
Historical Stock Returns for Mangalam Cement
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.10% | -6.75% | +9.21% | +10.88% | +19.38% | +199.35% |
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