Date: May 22, 2026
Board Meeting Outcomes
The Company announces that it has received voluntary representations from its Promoter Directors to fix an upper cap limit for their cumulative remuneration.
- The cumulative remuneration payable to all Promoter Directors in a single financial year shall not exceed ₹12.00 crores in aggregate.
- This cap includes all perquisites and allowances.
- The cap is valid until the end of the financial year 2030 (March 31, 2030).
- The cap is subject to necessary approvals, whenever applicable.
The stated rationale for this measure is to adopt better corporate governance practices, moderate managerial remuneration, and enable better allocation of capital for the growth of the Company.
KMP / Board / Auditor Changes
The announcement involves the following Key Managerial Personnel (KMP) and Directors who are part of the Promoter Group:
- Mr. Ketankumar Chandulal Zota, Non-executive Chairman
- Mr. Himanshu Muktilal Zota, Whole-time Director
- Mr. Kamlesh Rajanikant Zota, Whole-time Director
- Mr. Viren Manukant Zota, Whole-time Director
- Mr. Moxesh Ketanbhai Zota, Managing Director
Type of change: Voluntary cap on remuneration structure.
Effective date: Immediately, for financial years until FY2030.
Other Operational / Legal / Strategic Disclosures
This is a disclosure made to The National Stock Exchange of India Limited regarding a voluntary governance measure.
The letter was signed by Mr. Ashvin Variya, Company Secretary & Compliance Officer, from the company's registered office in Surat.