Key Quantitative Figures

  • FY 2025-26 Financial Performance (Standalone): Total Income: ₹37,262.78 lakhs (₹372.63 crore), Profit/(Loss) Before Tax: (₹613.92) lakhs (₹6.14 crore loss)
  • Munjal M. Jaykrishna Past Remuneration: ₹76.80 lakhs during FY 2025-2026
  • Sachin M. Jaykrishna Past Remuneration: ₹32.40 lakhs during FY 2025-2026
  • Munjal M. Jaykrishna Proposed Basic Salary: ₹4,00,000 per month effective October 19, 2026
  • Sachin M. Jaykrishna Proposed Basic Salary: Not to exceed ₹6,00,000 per month effective October 19, 2026 (Revision) and August 02, 2027 (Re-appointment)
  • Commission Cap: Not to exceed 2% of the company's net profit for each financial year for both directors

Dates of Action

  • Cut-off Date for Shareholder Eligibility: October 23, 2026
  • Remote E-voting Period: October 29, 2026 (09:00 AM) to November 27, 2026 (05:00 PM)
  • Munjal M. Jaykrishna Proposed Term: October 19, 2026 to October 18, 2029 (3 years)
  • Sachin M. Jaykrishna Current Term: August 02, 2024 to August 01, 2027
  • Sachin M. Jaykrishna Proposed New Term: August 02, 2027 to August 01, 2030 (3 years)
  • Board Meeting Date: October 19, 2026

Parties Involved

  • Directors: Mr. Munjal M. Jaykrishna (DIN: 00671693), Mr. Sachin M. Jaykrishna (DIN: 10712990), Mrs. Paru M. Jaykrishna (DIN: 00671721)
  • Scrutinizer: Mr. Bipin L. Makwana (Practicing Company Secretary, Membership No. A15650)
  • E-voting Service Provider: National Securities Depository Limited (NSDL)
  • Registrar and Transfer Agent: MUFG Intime India Private Limited

Proposed Resolutions Details

Item No. 1: Change in Designation and Re-Appointment of Mr. Munjal M. Jaykrishna as Managing Director & CEO

  • Resolution Type: Special Resolution
  • Current Designation: Joint Managing Director & CEO
  • Proposed Designation: Managing Director & CEO
  • Term: 3 years from October 19, 2026 to October 18, 2029
  • Remuneration Components:
  • Basic Salary: ₹4,00,000 per month (with revision authority to Board)
  • Commission: Up to 2% of net profits
  • Perquisites: Housing (60% of salary ceiling), medical reimbursement (1 month salary/year), leave travel, insurance, club fees (max 5 clubs), entertainment expenses
  • Company-provided car with driver, telephone at residence, mobile phone for official use
  • Minimum Remuneration: Governed by Schedule V limits in case of loss or inadequacy of profits

Item No. 2: Revision in Remuneration of Mr. Sachin M. Jaykrishna, Whole Time Director (Executive Director)

  • Resolution Type: Special Resolution
  • Effective Date: October 19, 2026 to August 01, 2027 (remaining tenure)
  • Remuneration Components:
  • Basic Salary: Not to exceed ₹6,00,000 per month
  • Variable Performance Pay: Up to 100% of annual base pay
  • Commission: Up to 2% of net profits
  • Perquisites: Similar structure as Item No. 1 (housing, medical, travel, insurance, club fees, entertainment)
  • Company-provided car with driver, telephone at residence, mobile phone for official use

Item No. 3: Re-Appointment of Mr. Sachin M. Jaykrishna as Whole Time Director (Executive Director)

  • Resolution Type: Special Resolution
  • Term: 3 years from August 02, 2027 to August 01, 2030
  • Remuneration Components: Identical to Item No. 2 structure
  • Subject to: Approval of the Central Government

Background Information on Appointees

Mr. Munjal M. Jaykrishna

  • Age: 56 years (Date of Birth: April 8, 1970)
  • Initial Appointment: June 28, 1995
  • Qualifications: Graduated from Lehigh University, USA with major in Finance and Marketing
  • Experience: Former Financial Analyst at Bank of California, associated with Aksharchem since 1994
  • Current Shareholding: 15,96,532 Equity Shares held as trustee of Munjal M. Jaykrishna Family Trust
  • Board Meeting Attendance: 4 out of 4 during FY 2025-26

Mr. Sachin M. Jaykrishna

  • Age: 28 years (Date of Birth: March 20, 1998)
  • Initial Appointment: August 02, 2024
  • Qualifications: Bachelor of Arts in International Relations from Lehigh University, USA
  • Experience: Leads marketing function across organic and inorganic chemicals businesses
  • Current Shareholding: None
  • Board Meeting Attendance: 4 out of 4 during FY 2025-26

Family Relationships

  • Mr. Munjal M. Jaykrishna is son of Mrs. Paru M. Jaykrishna (Chairperson & Managing Director) and father of Mr. Sachin M. Jaykrishna
  • Mr. Sachin M. Jaykrishna is son of Mr. Munjal M. Jaykrishna and grandson of Mrs. Paru M. Jaykrishna

Reasons for Inadequate Profits (FY 2025-26)

1. Accumulated consumer demand, persistent supply interruptions and significant increases in commodity prices

2. Consumer destocking in response to uncertain economic environment in overseas market, leading to decreased demand and lower realizations

E-voting Procedure

  • Service Provider: NSDL (www.evoting.nsdl.com)
  • Voting Methods:
  • Individual shareholders in demat mode: Login through DP account or NSDL/CDSL portals
  • Other shareholders: Login through NSDL e-voting website using DP ID+Client ID (NSDL), Beneficiary ID (CDSL), or EVEN+Folio Number (physical shares)
  • Scrutinizer: Mr. Bipin L. Makwana will submit report to Chairperson
  • Result Declaration: Within statutory timelines on company website (www.aksharchemindia.com) and stock exchange websites

Documents Availability

All documents referred to in the Explanatory Statement are available for electronic inspection between 10:00 AM to 06:00 PM on all working days from the commencement date of e-voting until the last day of e-voting period.