Minal Industries Limited has announced a revision in the remuneration of its Managing Director, Mr. Shrikant Jesinglal Parikh. The proposal, approved by the Nomination and Remuneration Committee and the Board of Directors, seeks to revise the remuneration to ₹14,00,000/- per month, effective from January 1, 2026. This change is for the remaining period of his tenure, up to March 31, 2028, and requires member approval at the upcoming Annual General Meeting.
Proposed Remuneration Adjustment for Managing Director
Minal Industries Limited has put forth a proposal to revise the remuneration package for its Managing Director, Mr. Shrikant Jesinglal Parikh (DIN: 00112642). This proposal, already recommended by the Nomination and Remuneration Committee and approved by the Board of Directors, aims to adjust his compensation to ₹14,00,000/- (Rupees Fourteen Lakhs Only) per month. The revised remuneration is set to take effect from January 1, 2026, covering the remainder of his tenure through March 31, 2028.
Rationale and Member Approval
The decision to revise remuneration is attributed to Mr. Parikh’s continued contributions to the company’s management and the responsibilities entrusted to him. The company is seeking the consent and approval of its members for this revision at the 38th Annual General Meeting. All other terms and conditions of his appointment remain unchanged from the previous AGM approval dated September 30, 2024.
Company Performance and Outlook
Despite recent financial performance impacts from global macroeconomic factors, the company remains confident in its strategic oversight and expects improved performance. The management emphasizes that the proposed remuneration is justified and reasonable, considering the duties and responsibilities of the Managing Director in navigating market volatility and ensuring business continuity.
Source: BSE
