Vesuvius India Shareholders Approve Three New Directors in Postal Ballot

Vesuvius India Limited, a prominent player in the industrial sector, has successfully concluded its postal ballot voting, resulting in the appointment of three new directors to its board. The voting, which took place from October 9 to November 7, saw strong shareholder participation and approval for all three special resolutions.

Key Appointments

The postal ballot resulted in the following appointments:

Director	Position	Term	Votes in Favor
Ms. Rashmi Joshi	Independent Director	5 years from Sept 24	99.99%
Mr. Sridhar Gorthi	Independent Director	5 years from Sept 24	84.87%
Mr. Biswadip Gupta	Non-Executive Non-Independent Director	Liable to retire by rotation	99.45%

Voting Process and Results

The voting process was conducted through remote e-voting, overseen by scrutinizer Amber Ahmad. The results demonstrate strong shareholder support for the new appointments:

Ms. Rashmi Joshi: Received near-unanimous approval with 99.99% votes in favor.
Mr. Sridhar Gorthi: Secured a solid majority with 84.87% votes in support.
Mr. Biswadip Gupta: Gained overwhelming acceptance with 99.45% votes in favor.

Shareholder Participation

The postal ballot saw active participation from shareholders across different categories:

Promoter and Promoter Group: 100% participation with all votes in favor of all resolutions.
Public Institutions: 97.46% of shares voted, with varying support across resolutions.
Public Non-Institutions: Approximately 14.98% of shares participated in the voting.

Compliance and Transparency

Vesuvius India Limited has demonstrated its commitment to corporate governance by conducting this postal ballot in accordance with the Companies Act, 2013, and SEBI regulations. The company promptly disclosed the voting results and the scrutinizer's report to the stock exchanges, ensuring transparency in the process.

Looking Ahead

With these new appointments, Vesuvius India Limited has strengthened its board composition. The high approval rates for Ms. Rashmi Joshi and Mr. Biswadip Gupta suggest strong shareholder confidence in their potential contributions. While Mr. Sridhar Gorthi's appointment also received a clear majority, the slightly lower approval rate may indicate some diversity in shareholder perspectives regarding his role.

All three appointments have taken effect from September 24, marking a significant step in enhancing the company's leadership structure. As these directors assume their positions, stakeholders will be keen to observe how their expertise and insights contribute to Vesuvius India's strategic direction and governance in the coming years.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.23%	+0.66%	-4.60%	-18.89%	-8.44%	+392.47%

Vesuvius India Limited, a key player in the manufacturing sector, has announced the closure of its plant in Visakhapatnam, marking a significant shift in its operational strategy. The company has ceased operations at its facility located at Plot Nos. 13-15, Block E, IDA, Visakhapatnam, effective October 13, 2025. This move follows the commencement of commercial operations at the company's new state-of-the-art Al-Si Monolithic Plant in Parawada Industrial Area, Anakapalli.

Financial Impact

The closure of the Visakhapatnam plant, known as the VS Plant, is noteworthy given its substantial contribution to the company's financial performance. Key financial details related to the closed plant are as follows:

Metric	Value
Turnover Contribution	INR 337.92 crores
Percentage of Total Revenue	18.08%
Estimated Net Worth	INR 258.72 lakhs

Despite the significant revenue contribution of the VS Plant, Vesuvius India has stated that the closure is not expected to have any adverse material impact on its business operations or revenue. This confidence stems from the new facility in Parawada Industrial Area becoming fully operational.

Strategic Shift

The decision to close the VS Plant is part of Vesuvius India's strategic move to enhance its manufacturing capabilities. The new Al-Si Monolithic Plant, located at Plot Nos. 70, 71, 72 & 74, E-Bhonangi, Parawada Industrial Area, Lankelapalem, Anakapalli, is described as a state-of-the-art facility. This transition suggests that the company is focusing on modernizing its production processes and potentially improving efficiency.

Regulatory Compliance

In compliance with regulatory requirements, Vesuvius India has made the necessary disclosures under Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015. The company has informed the BSE Limited and the National Stock Exchange of India Ltd about this development, ensuring transparency with its stakeholders.

Looking Ahead

While the closure of a significant revenue-generating plant could typically raise concerns, Vesuvius India's assurance regarding no adverse impact on business operations or revenue is noteworthy. The company's confidence suggests that the new Al-Si Monolithic Plant is expected to not only replace but potentially enhance the production capabilities previously held by the VS Plant.

As Vesuvius India navigates this transition, stakeholders will likely be keen to observe how the new facility performs and whether it can effectively maintain or improve upon the revenue contribution of the closed Visakhapatnam plant. The coming months will be crucial in determining the success of this strategic move and its impact on Vesuvius India's overall performance in the manufacturing sector.