Vandan Foods Limited Announces Postal Ballot for Managing Director Appointment
Vandan Foods Limited has issued a postal ballot notice seeking shareholder approval for appointing Mr. Rakeshkumar Rameshbhai Patel as Managing Director for five years from February 12, 2026, with remuneration capped at ₹1,20,00,000 per annum. The e-voting period runs from February 26 to March 27, 2026, with NSDL providing remote voting facility. Mr. Patel, currently holding 11.54% shareholding, will transition from Non-Executive Director and Chairman to Managing Director, relinquishing his Chairman position effective February 11, 2026.
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Vandan Foods Limited has announced a postal ballot notice for seeking shareholder approval on the appointment of Mr. Rakeshkumar Rameshbhai Patel as Managing Director of the company. The notice, dated February 25, 2026, outlines the e-voting process and key details of the proposed appointment.
E-Voting Schedule and Process
The company has established a comprehensive e-voting framework for shareholders to participate in the decision-making process. The remote e-voting facility will be available through National Security Depository Limited (NSDL) services.
| Parameter | Details |
|---|---|
| E-voting Commencement | February 26, 2026 (9:00 a.m. IST) |
| E-voting Conclusion | March 27, 2026 (5:00 p.m. IST) |
| Cut-off Date | February 20, 2026 |
| Service Provider | National Security Depository Limited (NSDL) |
| Result Announcement | On or before March 29, 2026 |
The postal ballot notice is being circulated electronically to members who have registered their email addresses with their depository participants or the company's Registrar and Share Transfer Agent. M/s. B. S. Vyas & Associates (COP: 26078), Practicing Company Secretaries, have been appointed as the Scrutinizer for conducting the postal ballot process.
Proposed Managing Director Appointment
The special resolution seeks approval for the change in designation of Mr. Rakeshkumar Rameshbhai Patel (DIN: 10141844) from Non-Executive Director and Chairman to Managing Director. The appointment represents a significant leadership transition for the company.
| Appointment Details | Specifications |
|---|---|
| Appointee | Mr. Rakeshkumar Rameshbhai Patel (DIN: 10141844) |
| Current Position | Non-Executive Director and Chairman |
| Proposed Position | Managing Director |
| Term Duration | 5 years from February 12, 2026 |
| Remuneration Period | 3 years (February 12, 2026 to February 11, 2029) |
| Maximum Annual Remuneration | ₹1,20,00,000 |
Consequent to his appointment as Managing Director, Mr. Patel has relinquished his position as Chairman of the Board of Directors with effect from the close of business hours on February 11, 2026.
Director Profile and Shareholding
Mr. Rakeshkumar Rameshbhai Patel brings significant experience to the Managing Director role. As the founder and promoter of the business, he has been instrumental in the company's operations since incorporation.
| Director Information | Details |
|---|---|
| Age | 41 years |
| Experience | Over 3 years in Agriculture Industry |
| First Appointment Date | April 15, 2023 |
| Current Shareholding | 9,68,000 equity shares (11.54% of share capital) |
| Relationship | Brother of Mr. Jitendra Rameshbhai Patel (Director) |
The Board considers the proposed appointment and remuneration structure essential for the company's strategic growth and operational efficiency.
Company Performance Context
The appointment comes against the backdrop of strong financial performance. For the financial year ended March 31, 2025, the company achieved total revenue of ₹10819.77 Lakhs compared to ₹4873.04 Lakhs in the previous year. Profit after tax stood at ₹690.70 Lakhs, demonstrating sound financial management and operational efficiency.
Regulatory Compliance
The postal ballot process complies with Section 110 of the Companies Act, 2013, and related rules, along with SEBI Listing Regulations. The resolution requires approval as a special resolution due to the related party transaction nature of the appointment and potential remuneration exceeding Schedule V limits during periods of inadequate profits.
Shareholders can access the complete postal ballot notice on the company's website, BSE website, and Bigshare Services Limited platform. The voting process is restricted to electronic voting only, with no physical postal ballot forms being distributed.
Historical Stock Returns for Vandan Foods
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.39% | -4.31% | -9.78% | -3.56% | -67.82% | -67.82% |
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