Patels Airtemp (India) Limited has initiated a postal ballot process to seek shareholder approval for the re-appointment of its Managing Director. The company announced this development through a regulatory filing dated February 28, 2026, outlining the special resolution that requires shareholder consent.

Re-appointment Details

The postal ballot seeks approval for the re-appointment of Mr. Sanjivkumar N. Patel (DIN: 02794095) as Managing Director, designated as "Chairman & Managing Director," for a further period of three years. The proposed term extends from May 20, 2026, to May 19, 2029.

E-voting Schedule

The company has engaged Central Depository Services (India) Limited (CDSL) to provide remote e-voting facilities. All voting will be conducted electronically, with no physical postal ballot forms being distributed to shareholders.

Leadership Profile

Mr. Sanjivkumar N. Patel holds a B.E. (Chemical) degree and an MBA from the USA. He has been associated with the company since 2009, initially serving as Whole-time Director from 2009 to 2015 before being appointed as Managing Director in 2015. He assumed the Chairman designation on November 9, 2023.

The Managing Director brings over 29 years of experience across different areas, including work as a Business Consultant in Management Information Systems (MIS) and as a Business Analyst. He holds 4,11,276 equity shares representing 7.52% of the company's share capital.

Company Performance

The company has demonstrated consistent growth over the past three financial years:

Remuneration Structure

The proposed remuneration package includes a monthly salary of ₹5,50,000 plus various perquisites and allowances. Additional benefits encompass:

• Medical expense reimbursements for family members
• Personal accident and mediclaim insurance premiums
• Company car and telephone facilities
• Provident fund contributions
• Electricity expense reimbursements
• Gratuity as per company rules

In case of loss or inadequacy of profits, the remuneration will serve as minimum remuneration subject to limits prescribed in Schedule V of the Companies Act, 2013.

Voting Process

Shareholders whose email addresses are registered with the company, depositories, or depository participants as of the cut-off date will receive the postal ballot notice electronically. The company has appointed CS Punit Lath as the Scrutinizer to conduct the postal ballot process in a fair and transparent manner.

The resolution requires approval through a special resolution, and if passed, it will be deemed effective from the last date of e-voting, April 7, 2026. The results will be displayed at the registered office, communicated to BSE Limited, and uploaded on the company's website and CDSL's platform.

Patels Airtemp (India) Limited has announced its unaudited financial results for the third quarter of FY26 ended December 31, 2025, alongside significant corporate governance developments. The company reported mixed performance with changes in profitability while maintaining operational stability.

Financial Performance Overview

The company's Q3FY26 financial results show varied performance across key metrics compared to the corresponding period last year.

Total expenses for the quarter stood at ₹5,675.74 lakhs compared to ₹8,401.19 lakhs in Q3FY25. The company maintained its equity share capital at ₹547.02 lakhs throughout the reporting periods.

Nine-Month Performance Analysis

For the nine-month period ended December 31, 2025, Patels Airtemp demonstrated performance metrics across various parameters.

The company's cost structure included materials consumed at ₹8,890.65 lakhs, employee benefits expense of ₹1,170.99 lakhs, and other expenses totaling ₹4,496.27 lakhs for the nine-month period.

Leadership Re-appointment

The Board of Directors approved the re-appointment of Mr. Sanjivkumar N. Patel as Managing Director, designated as Chairman & Managing Director, for a three-year term from May 20, 2026, to May 19, 2029.

Mr. Patel holds an Engineering degree in Chemical Engineering and an MBA from the USA. He has been associated with the company since 2009, serving as Whole-time Director from 2009 to 2015 and as Managing Director since 2015. He became Chairman of the company on November 9, 2023. His appointment is subject to shareholder approval through a special resolution via postal ballot.

Corporate Compliance and Governance

The financial results were reviewed by the Audit Committee and approved by the Board of Directors in their meeting held on February 14, 2026. The statutory auditors conducted a limited review of the unaudited financial results. The company operates with one reportable segment and has prepared its results in accordance with Indian Accounting Standards (Ind AS) as prescribed under the Companies Act, 2013.

The company has considered the impact of new labor codes implemented from November 21, 2025, recognizing appropriate expenses in the current quarter. Further assessment of impacts from the new labor codes will be undertaken upon notification of rules by appropriate authorities.