Cravatex shareholders vote on CFO Kamath's 3-year term, ₹42.7 lakh pay

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AuthorIshaan Verma|Published at:
Cravatex shareholders vote on CFO Kamath's 3-year term, ₹42.7 lakh pay
Overview

Cravatex Limited is asking shareholders to vote on re-appointing Divakar G. Kamath as its Executive Director and Chief Financial Officer. The new three-year term would run from April 1, 2026, to March 31, 2029. Shareholders are voting via postal ballot or e-voting for a proposed annual pay of up to ₹42.70 lakh, aiming to keep financial leadership stable.

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Cravatex Limited has begun a postal ballot, including remote e-voting, for shareholders to approve the re-appointment of Divakar G. Kamath as Executive Director and Chief Financial Officer.

This proposed new term for Mr. Kamath will run for three years, starting April 1, 2026, and ending March 31, 2029. The annual remuneration package is set at a maximum of ₹42.70 lakh. This is an increase from the ₹39.53 lakh he earned in FY 2025-26. The move is intended to ensure continuity in key financial leadership.

Shareholder approval is vital for maintaining the current leadership structure within Cravatex's finance department. This continuity can boost investor confidence in the company's financial strategy and management.

Shareholders can cast their votes via remote e-voting. The voting period is from April 29 to May 28, 2026.

The primary risk is shareholders not approving the appointment, which could force the company to search for a new CFO. A change in CFO can create uncertainty about financial strategy and operations.

Annual pay increases for the CFO will follow regulatory rules and are permissible within stipulated limits.

Shareholders must cast their votes no later than May 28, 2026. Results of the ballot, along with the scrutinizer's report, will be announced on May 29, 2026.

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