AksharChem (India) Limited has initiated a postal ballot process to secure shareholder approval for the re-appointment and remuneration of its Managing Director, Munjal M. Jaykrishna, and Whole-Time Director, Sachin M. Jaykrishna. Voting opens on October 29, 2026, and concludes on November 27, 2026. The move comes as the company navigates a loss-making fiscal year impacted by global supply chain issues and sluggish consumer demand.
AksharChem India Seeks Shareholder Nod for Executive Appointments
Leadership terms and remuneration structures for top management are the focus of this postal ballot.
Shareholders are being asked to ratify changes in the terms of appointment for Munjal M. Jaykrishna and Sachin M. Jaykrishna.
Reader Takeaway: The company is formalizing long-term executive compensation plans despite recent financial losses driven by difficult market conditions.
What just happened
AksharChem (India) Limited has released a formal postal ballot notice to its shareholders. The process aims to finalize the re-appointment and remuneration packages for key leadership roles. Voting is scheduled to commence on October 29, 2026, and will remain open until 5:00 p.m. on November 27, 2026. The company has appointed Mr. Bipin L. Makwana as the scrutinizer for this exercise. Shareholders as of the cut-off date of October 23, 2026, are eligible to cast their votes.
Key Proposals
- Munjal M. Jaykrishna (MD & CEO): Proposed re-appointment for a three-year term starting October 19, 2026. Compensation includes a monthly basic salary of Rs 4 lakh, commission up to 2% of net profit, and standard perquisites.
- Sachin M. Jaykrishna (Whole-Time Director): Remuneration revision effective October 19, 2026, followed by a three-year re-appointment term from August 2, 2027, to August 1, 2030. The package includes a monthly salary of up to Rs 6 lakh, potential variable pay up to 100% of base salary, and 2% commission.
Financial Context
The management's proposals are being presented in the shadow of a challenging FY 2025-26. The company reported a standalone total income of Rs 372.63 crore, but recorded a loss before tax of Rs 6.14 crore. The management has attributed these losses to systemic headwinds, including rising commodity prices, supply chain interruptions, and destocking by consumers in international markets.
What to track next
Shareholders should monitor the outcome of the postal ballot and subsequent disclosures regarding the final approval of these remuneration packages. Given the loss-making performance in the previous fiscal year, investors may want to observe how management plans to navigate these stated macroeconomic pressures in the coming quarters.