Veejay Lakshmi Engineering Works Appoints Three New Directors in Board Meeting
Veejay Lakshmi Engineering Works announced the appointment of three new directors following a board meeting on 2nd March 2026. The appointments include Mr. Sargunam Ranganathan as Whole-time Director and Mr. Sanjay Dharamsi Shah and Ms. Indira Veeraraghavan as Additional Non-Executive Independent Directors, all for 5-year terms subject to shareholder approval.
*this image is generated using AI for illustrative purposes only.
Veejay Lakshmi Engineering Works announced significant board changes following its meeting held on 2nd March 2026, approving the appointment of three new directors to strengthen its leadership structure. The board meeting, which commenced at 4.00 PM and concluded at 8.00 PM, resulted in key appointments that will shape the company's future direction.
Board Appointments Overview
The board approved three strategic appointments based on recommendations from the Nomination and Remuneration Committee. All appointments are effective from 2nd March 2026 and require shareholder approval through special resolutions.
| Position: | Director Name | DIN | Term Duration | Category |
|---|---|---|---|---|
| Whole-time Director | Mr. Sargunam Ranganathan | 05349896 | 5 years | Executive |
| Additional Director | Mr. Sanjay Dharamsi Shah | 11505021 | 5 consecutive years | Non-Executive Independent |
| Additional Director | Ms. Indira Veeraraghavan | 11504997 | 5 consecutive years | Non-Executive Independent |
Director Profiles and Qualifications
Mr. Sargunam Ranganathan, appointed as Whole-time Director, brings extensive expertise in Human Resources and Administration. Despite being 72 years old, his appointment demonstrates the board's confidence in his capabilities. He holds qualifications including B.A., PGDM., and DIL, making him well-suited for the executive role.
Mr. Sanjay Dharamsi Shah joins as an Additional Director in the Non-Executive Independent category. As a Chartered Accountant, he possesses significant expertise in finance, accounts, and taxation, which will strengthen the board's financial oversight capabilities.
Ms. Indira Veeraraghavan also appointed as an Additional Director under the Non-Executive Independent category, is a Chartered Accountant with substantial experience in finance, accounts, and taxation. Her appointment enhances the board's diversity and financial expertise.
Compliance and Governance
All three appointees have been confirmed as not being debarred from holding director positions by SEBI or any other statutory authority. None of the new directors are related to existing directors or Key Managerial Personnel of the company, ensuring independence and good governance practices.
Postal Ballot Process
The board has proposed conducting a postal ballot to obtain shareholder approval for these appointments. Mr. M. D. Selvaraj, Managing Partner of MDS & Associates LLP, Company Secretaries, Coimbatore, has been appointed as the Scrutinizer to ensure a fair and transparent voting process. The postal ballot notice will be submitted to the stock exchange in due course.
Regulatory Compliance
The appointments comply with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. Complete disclosure details have been provided to BSE Limited as required under the regulatory framework.
Historical Stock Returns for Veejay Lakshmi Engineering Works
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -6.02% | -2.67% | -17.02% | -39.04% | -35.86% | +57.89% |
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