Hexagon Nutrition has convened an Extra-Ordinary General Meeting (EGM) on October 28, 2026, following a shareholder requisition representing 45.81% of equity. The meeting seeks to finalize the appointment of Mr. Arun Purushottam Kelkar as Chairman & Executive Director and approve revised remuneration packages for him and Managing Director Vikram Kelkar. These proposals were previously put to a vote at the 33rd AGM but failed to secure the necessary majority. Shareholders will vote on the proposed CTC of Rs 1.82 crore for the Chairman and Rs 2.42 crore for the Managing Director.
Hexagon Nutrition Calls EGM to Resolve Board Leadership Pay
Executive remuneration proposals of Rs 1.82 crore and Rs 2.42 crore to be put to vote.
Reader Takeaway: Shareholders will revisit previously rejected proposals for leadership appointments and compensation to ensure strategic continuity.
What just happened
Hexagon Nutrition has scheduled an Extra-Ordinary General Meeting (EGM) for October 28, 2026, to be held via video conferencing. The meeting is triggered by a requisition from three major shareholders, Mrs. Anuradha Kelkar, Dr. Nikhil Arun Kelkar, and Mr. Vikram Arun Kelkar, who collectively hold 45.81% of the company's equity. The agenda focuses on the appointment of Mr. Arun Purushottam Kelkar as Chairman & Executive Director for a five-year term and the approval of specific remuneration packages for him and the current Managing Director, Mr. Vikram Kelkar.
Why this matters
This EGM acts as a follow-up to the company's 33rd Annual General Meeting. At that time, these specific business items—related to board leadership and executive compensation—failed to achieve the requisite majority from shareholders. The current meeting represents a strategic effort by the leadership to re-validate these appointments and pay structures, which the board maintains are essential for stability and future expansion. Failure to pass these resolutions could lead to continued uncertainty regarding the company's governance and leadership structure.
Key Proposals
The EGM will seek approval for:
- Appointment of Mr. Arun Purushottam Kelkar as Chairman & Executive Director, not liable to retire by rotation.
- Remuneration for the Chairman at a total CTC of up to Rs 1.82 crore per annum.
- Revised remuneration for Managing Director Vikram Kelkar at a total CTC of up to Rs 2.42 crore per annum, effective from April 1, 2026.
What to track next
Investors should monitor the outcome of the remote e-voting process, which runs from October 25 to October 27, 2026. The final tally will indicate whether the company has successfully addressed the concerns previously raised by shareholders during the 33rd AGM.