Mukand Limited has issued a comprehensive postal ballot notice to shareholders, seeking approval for critical corporate governance matters including director re-appointments and substantial related party transactions for the upcoming financial year.

Key Resolutions for Shareholder Approval

The company has proposed five resolutions through the postal ballot process, with voting scheduled exclusively through remote e-voting mechanism. The resolutions encompass leadership continuity and strategic business arrangements essential for the company's operations.

Leadership Appointments and Compensation

The postal ballot seeks re-appointment of Shri Niraj Bajaj as Chairman and Managing Director for a three-year term from July 05, 2026, to July 04, 2029. The 71-year-old leader, who holds 1,19,45,461 equity shares (8.27%) in the company, will receive annual remuneration comprising basic salary of ₹1,57,50,000, perquisites of ₹53,60,000, and provident fund contribution of ₹18,90,000, totaling ₹2,30,00,000.

Simultaneously, Shri Nirav Bajaj's re-appointment as Whole-time Director is proposed for May 16, 2026, to May 15, 2029. His compensation package includes basic salary of ₹16,95,153, special allowance of ₹7,74,927, and variable pay of ₹11,59,969, among other components, totaling ₹60,03,262 annually.

Substantial Related Party Transactions

The company seeks approval for material related party transactions totaling significant amounts for FY 2026-27. The proposed arrangements include transactions worth ₹3,150.00 crore with Mukand Sumi Special Steel Limited, covering sale of goods, services, rent arrangements, and trade advances. Additionally, transactions worth ₹2,075.00 crore with Jamnalal Sons Private Limited involve loans, corporate guarantees, and commission arrangements.

Subsidiary Company Arrangements

Mukand Heavy Engineering Limited, the company's wholly-owned subsidiary, requires approval for its own related party transactions. The subsidiary proposes transactions worth ₹60.00 crore with Mukand Sumi Special Steel Limited for purchase and sale of goods and services, and ₹20.50 crore with Jamnalal Sons Private Limited for corporate guarantee arrangements.

Voting Process and Timeline

The remote e-voting process will commence on Friday, February 20, 2026, at 09:00 a.m. (IST) and conclude on Saturday, March 21, 2026, at 05:00 p.m. (IST). Shareholders whose names appear in the register as of the cut-off date of February 13, 2026, are eligible to participate in the voting process. KFin Technologies Limited serves as the e-voting agency, with Anirudh Kumar Tanvar appointed as the scrutinizer for conducting the postal ballot process.

The postal ballot notice reflects the company's commitment to maintaining robust corporate governance while ensuring operational flexibility for its core business activities and subsidiary operations.

Mukand Limited has announced a significant leadership transition in its Machine Building Division, marking a strategic change in senior management personnel. The company disclosed this development in compliance with regulatory requirements under SEBI listing obligations.

Leadership Transition Details

The management change involves two key appointments effective February 16, 2026. The transition represents a planned succession as the outgoing executive retires from his position.

New CEO Profile and Experience

Shri Vidyakant S. Mirje brings substantial industry experience to his new role as Chief Executive Officer of the Machine Building Division. His professional background spans multiple critical business functions over three decades.

Professional Experience

• Total Experience: 31 years in various management roles
• Core Competencies: Sales Management, Product Management, P&L Management for Business Lines, Marketing & Communication, and Production Management

Educational Qualifications

• MBA in Marketing from Mumbai University
• BE in Mechanical Engineering from Karnataka University

Regulatory Compliance

The announcement was made in accordance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has provided comprehensive details as required under the amended regulations, ensuring full transparency regarding the senior management change.

The disclosure was signed by Rajendra Sawant, Company Secretary, and includes all necessary documentation as per regulatory requirements. This management transition reflects the company's commitment to maintaining operational continuity while bringing fresh leadership to the Machine Building Division.