News Stocks Polycab India Limited Shareholders Approve Leadership Restructuring Through Postal BallotPolycab India Limited Shareholders Approve Leadership Restructuring Through Postal Ballot
Polycab India Limited successfully completed its postal ballot process on February 23, 2026, with shareholders approving all five resolutions through electronic voting. Key approvals included re-appointment of Mrs. Manju Agarwal as Independent Director and elevation of Mr. Bharat A. Jaisinghani and Mr. Nikhil R. Jaisinghani to Joint Managing Director positions. The e-voting process saw strong participation with over 86.90% of outstanding shares voting, demonstrating robust shareholder engagement in the company's governance decisions.
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Polycab India Limited has successfully concluded its postal ballot process, with shareholders approving all five proposed resolutions through electronic voting. The company announced the results on February 23, 2026, following the completion of the e-voting period that concluded on February 22, 2026.
Approved Resolutions and Voting Results
The postal ballot covered five key corporate governance and leadership matters, all of which received strong shareholder support. The resolutions addressed independent director re-appointment and significant changes in executive leadership structure.
| Resolution | Type | Description | Votes in Favour | Approval Rate |
|---|---|---|---|---|
| 1 | Special | Re-appointment of Mrs. Manju Agarwal as Independent Director | 12,12,86,845 | 92.704% |
| 2 | Ordinary | Change in designation of Mr. Bharat A. Jaisinghani to Joint Managing Director | 13,08,89,359 | 99.999% |
| 3 | Ordinary | Re-appointment of Mr. Bharat A. Jaisinghani as Whole-time Director for five years | 13,04,58,489 | 99.665% |
| 4 | Ordinary | Change in designation of Mr. Nikhil R. Jaisinghani to Joint Managing Director | 13,08,89,339 | 99.999% |
| 5 | Ordinary | Re-appointment of Mr. Nikhil R. Jaisinghani as Whole-time Director for five years | 13,04,58,473 | 99.665% |
Leadership Restructuring Details
The most significant changes involve the elevation of two executive directors to joint managing director positions. Mr. Bharat A. Jaisinghani (DIN: 00742995) and Mr. Nikhil R. Jaisinghani (DIN: 00742771) both had their designations changed from Executive Director to Joint Managing Director effective January 16, 2026. Additionally, both executives were re-appointed as Whole-time Directors for five-year terms beginning May 13, 2026, maintaining their Joint Managing Director designations.
Shareholder Participation Analysis
The e-voting process demonstrated strong shareholder engagement across different categories:
| Shareholder Category | Total Shares Held | Participation Rate |
|---|---|---|
| Promoter and Promoter Group | 9,25,82,842 | 100.000% |
| Public Institutions | 3,91,20,304 | 84.02% - 84.19% |
| Public Non-Institutions | 1,88,35,327 | 28.563% |
| Total Outstanding Shares | 15,05,38,473 | 86.91% - 86.95% |
E-Voting Process and Compliance
The postal ballot notice was issued on January 16, 2026, with the e-voting period commencing January 24, 2026, at 9:00 AM IST and concluding February 22, 2026, at 5:00 PM IST. National Securities Depository Limited served as the Electronic Voting Service Provider, facilitating the voting process through their platform at www.evoting.nsdl.com .
The company sent the postal ballot notice electronically to 3,57,394 members who had registered email addresses, out of a total 3,71,248 shareholders as of the record date January 16, 2026. For members without registered email addresses, public notices were published in Financial Express (English) and Gujarat Samachar (Gujarati) newspapers on January 24, 2026.
Scrutinizer's Certification
Mr. Avinash Bagul (Membership No. F5578/CP No. 19862), Partner of M/s. BNP & Associates, served as the appointed scrutinizer for the postal ballot process. The scrutinizer's report confirmed compliance with all regulatory requirements under the Companies Act, 2013, and SEBI Listing Regulations, certifying that all resolutions were passed with requisite majority.
The voting results and scrutinizer's report have been made available on the company's website at www.polycab.com and on the NSDL website, ensuring transparency and regulatory compliance. All resolutions are deemed to have been passed on February 22, 2026, the last date of the e-voting period.
Historical Stock Returns for Polycab
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.84% | +6.34% | +20.80% | +14.37% | +39.02% | +503.13% |
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