UltraTech Cement Limited has issued a notice for a postal ballot to seek shareholder approval for the re-appointment of Mr. Vivek Agrawal (DIN: 10599212) as Whole-time Director and Chief Marketing Officer.

Key Proposal Details

Item No. 1: Re-appointment of Mr. Vivek Agrawal

The resolution seeks approval for his re-appointment for a period of two years, from 1st January, 2027 to 31st December, 2028. The appointment can be terminated by either party with three months' written notice.

Remuneration Terms

  • Basic Salary: ₹16,58,500 per month, with increments subject to a ceiling of ₹19,00,000 per month.
  • Special Allowance: ₹5,73,411 per month, with increments subject to a ceiling of ₹21,00,000 per month. This allowance is not considered for calculating Provident Fund, Gratuity, Superannuation, and Leave encashment.
  • Annual Incentive Pay: Performance-linked bonus, subject to a maximum of ₹5,00,00,000 per annum.
  • Long-term Incentive Compensation (LTIC): Including ESOPs/RSUs, with a maximum target opportunity of ₹5,00,00,000 per annum.

Perquisites and Benefits

  • Company-provided accommodation or HRA.
  • Reimbursement for house maintenance expenses (electricity, gas, water, telephone).
  • Medical expense reimbursement for self and family.
  • Life and accidental insurance cover.
  • Leave travel expenses for self and family.
  • Use of two cars for company business.
  • Retirement benefits (Provident Fund, Superannuation, NPS, Gratuity).
  • Fees for two corporate club memberships in India.
  • Other allowances and benefits as per company policy for senior executives.

Voting Process and Timeline

  • The company has engaged KFin Technologies Limited as the agency for remote e-voting.
  • Remote e-voting period: Commences on Saturday, 12th September, 2026 (9:00 a.m. IST) and ends on Sunday, 11th October, 2026 (5:00 p.m. IST).
  • Cut-off date for determining eligibility to vote: Friday, 4th September, 2026.
  • The notice is being sent only through electronic mode to members whose email addresses are registered.
  • Mr. Anish Gupta, Partner, VKMG & Associates LLP, has been appointed as the Scrutinizer.
  • The results of the postal ballot will be declared on or before Tuesday, 13th October, 2026 and will be displayed on the company's website, KFin's website, and intimated to the stock exchanges (BSE and NSE).
  • If passed, the resolution will be deemed passed on 11th October 2026.

Director Background

  • Mr. Vivek Agrawal was first appointed to the role on 9th June 2024 (until 31st Dec 2026).
  • He joined the Aditya Birla Group in 1993 and has held various positions within UltraTech's cement business.
  • Qualifications: B.E. (Hons.) from NIT Allahabad, MBA from FMS Delhi, and Advanced Management Program from Wharton Business School.
  • Remuneration for FY 2025-26: ₹11,74,49,367 was paid, with an additional ₹2,31,19,200 as a performance-linked incentive for FY 2024-25.
  • Shareholding: Holds 16,655 equity shares in the company.
  • He holds a directorship in The India Cements Limited and is a member of its Stakeholders Relationship Committee and Finance Committee.

Financial Impact

No specific financial impact on the company's capital structure or cash flows is quantified in the disclosure beyond the detailed remuneration package for the director.