Mawana Sugars Limited has issued a Postal Ballot Notice to seek shareholder approval for two special resolutions through electronic voting. The notice was issued pursuant to Regulation 30 read with Schedule III of SEBI Listing Regulations and SEBI Master Circular No. HO/49/14/14(7)2025-CFDPOD2/I/3762/2026 dated January 30, 2026.

Resolution Details

Resolution 1: Re-appointment of Mr. Satish Agrawal as Non-Executive Independent Director

  • Mr. Satish Agrawal (DIN: 00167589) proposed for re-appointment as Non-Executive Independent Director
  • Second term of five consecutive years from November 3, 2026 to November 2, 2031
  • Currently serving his first term since November 3, 2021 (approved by shareholders on September 29, 2022)
  • 44 years old, Chartered Accountant, Managing Partner at S.R.K.A. & Co., Chartered Accountants
  • Receives only sitting fees for board meetings
  • Not related to any other existing directors

Resolution 2: Approval of remuneration to Mr. Rakesh Kumar Gangwar, Managing Director

  • Proposed remuneration: ₹2,63,02,385/- fixed per annum plus ₹10,00,000/- variable pay
  • Period: August 13, 2026 to August 12, 2027
  • Leave facility as per company rules
  • Mr. Gangwar was appointed as Managing Director on August 13, 2024 for 5 years
  • 55 years old, Graduate in Agriculture & Animal Husbandry from G.B. Pant University
  • 34 years experience in sugar industry, 17 years with Mawana Sugars
  • Current CTC: ₹2,30,72,268/- per annum
  • Also serves as Managing Director of Mawana Foods Pvt. Ltd.

Voting Process

  • Remote e-voting through NSDL
  • Voting period: August 19, 2026 (9:00 AM IST) to September 17, 2026 (5:00 PM IST)
  • Cut-off date for eligibility: August 14, 2026
  • Results to be announced by September 19, 2026
  • Scrutinizer: M/s Nirbhay Kumar & Associates (Peer Review Certificate No. 2441/2022)
  • Notice sent only electronically to registered email addresses

Financial Performance

The explanatory statement provides financial performance data for the last three years:

| Particulars | FY2026 (₹ Cr) | FY2025 (₹ Cr) | FY2024 (₹ Cr) |

| Total Revenue | 1567.49 | 1455.02 | 1384.39 |

| Net Profit/(Loss) | 36.72 | 71.40 | 42.59 |

| Effective Capital | 520.80 | 488.41 | 363.05 |

Business Context

  • Company engaged in manufacturing and marketing of Sugar, Ethanol and Cogeneration of Power
  • Operations at Mawana Sugar Works, Mawana, Distt. Meerut (U.P.) and Nanglamal Sugar Complex, Nanglamal, Distt. Meerut (U.P.)
  • No foreign investments or collaborators
  • Company states it has been consistently profitable except in FY2020 due to deferred tax expense of ₹26.88 crore and MAT asset write-off of ₹44.45 crore under Section 115BAA of Income-tax Act