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Damodar Industries Proposes MD Salary Revision to ₹7.5 Lakh/Month and Chairman Re-appointment
Damodar Industries has initiated a postal ballot to seek shareholder approval for the revision of remuneration for its top management. The company proposes a base salary of ₹7.5 lakh per month for Managing Director Aman Arun Biyani, effective April 1, 2026, along with performance-linked incentives. Additionally, the board seeks to re-appoint Arunkumar Biyani as Chairman and Whole-time Director for a three-year term, necessitating a special resolution due to him being over 70 years of age. Shareholders can participate in the e-voting process from March 2 to March 31, 2026.
Key Highlights
Proposed revision of MD Aman Arun Biyani's base salary to ₹7,50,000 per month effective April 2026
Performance-based annual incentive for the MD capped at 50% of the base salary
Re-appointment of Arunkumar Biyani as Chairman and Whole-time Director for a further 3-year term
Fixed annual salary increment of ₹25,000 per month for the Managing Director
E-voting period for shareholders scheduled from March 2, 2026, to March 31, 2026
💼 Action for Investors
Investors should evaluate whether the proposed compensation increases are commensurate with the company's financial performance and industry standards. Shareholders are encouraged to exercise their voting rights via the electronic postal ballot system.
Damodar Industries Shareholders Reject Remuneration Hikes and Chairman Re-appointment
In a significant move, shareholders of Damodar Industries have rejected three out of four special resolutions proposed via postal ballot. The rejected proposals included salary revisions for Managing Director Aman Arun Biyani and Director Aditya A Biyani. Most notably, the re-appointment and remuneration of Arunkumar Biyani as Chairman and Whole-time Director for a three-year term was also voted down. Only the re-appointment of Mrs. Mamta Biyani as an Independent Director was approved by the shareholders.
Key Highlights
Shareholders rejected the revision of remuneration for Managing Director Aman Arun Biyani.
The proposal to fix remuneration and re-appoint Arunkumar Biyani as Chairman for 3 years failed to pass.
A resolution to revise the remuneration of Director Aditya A Biyani was also defeated.
Only 1 out of 4 special resolutions, the re-appointment of an Independent Director, was successful.
The postal ballot voting period concluded on January 22, 2026.
💼 Action for Investors
Investors should exercise caution as the rejection of the Chairman's re-appointment and executive pay hikes suggests significant shareholder dissatisfaction with current management or governance. Monitor the company's next steps regarding leadership continuity and board composition.
Damodar Industries Shareholders Reject Remuneration and Chairman Re-appointment Resolutions
Damodar Industries Limited reported the outcome of its postal ballot process conducted from December 2024 to January 2026. Shareholders rejected three out of four special resolutions, including the revision of remuneration for the Managing Director and another Director. Significantly, the resolution to re-appoint Mr. Arunkumar Biyani as Chairman and Whole-time Director for a three-year term was also defeated. Only the re-appointment of Mrs. Mamta Biyani as an Independent Director was approved by the shareholders.
Key Highlights
Shareholders rejected the revision of remuneration for Managing Director Mr. Aman Arun Biyani.
Resolution for the revision of remuneration for Director Mr. Aditya A Biyani was not passed.
The re-appointment and remuneration fix for Chairman Arunkumar Biyani (aged 70) for a 3-year term was rejected.
Only 1 out of 4 proposed special resolutions was passed: the re-appointment of Mrs. Mamta Biyani as Independent Director.
💼 Action for Investors
Investors should view the rejection of the Chairman's re-appointment and executive pay as a sign of significant shareholder activism or dissatisfaction with governance. Monitor for management's response and potential leadership transitions or revised compensation structures.
Damodar Industries Q3 Net Profit Drops 38% YoY to ₹98.88 Lacs; Revenue Down 22%
Damodar Industries reported a weak set of numbers for Q3 FY26, with revenue from operations falling 22.4% YoY to ₹9,328.91 Lacs. Net profit for the quarter declined by 38.4% YoY to ₹98.88 Lacs, down from ₹160.54 Lacs in the year-ago period. While the quarterly performance was sluggish both YoY and QoQ, the nine-month (9M) cumulative net profit remains significantly higher at ₹445.74 Lacs compared to ₹83.79 Lacs in the previous year. The board also noted the resignation of Independent Director Mr. Pankaj Srivastava.
Key Highlights
Revenue from operations decreased to ₹9,328.91 Lacs in Q3 FY26 compared to ₹12,026.57 Lacs in Q3 FY25.
Net Profit for the quarter stood at ₹98.88 Lacs, a decline from ₹114.68 Lacs in the preceding quarter (Q2 FY26).
9M FY26 net profit improved substantially to ₹445.74 Lacs from ₹83.79 Lacs in 9M FY25.
Total expenditure for the quarter was ₹9,274.00 Lacs, down from ₹12,086.86 Lacs YoY, primarily due to lower trading activity.
Independent Director Mr. Pankaj Srivastava resigned from the board effective January 16, 2026.
💼 Action for Investors
The sharp decline in quarterly revenue and profitability indicates immediate operational pressure, making the stock's short-term outlook cautious. Investors should weigh the weak Q3 results against the improved 9-month cumulative performance to determine if the current slowdown is cyclical or structural.
Damodar Industries Q3 Net Profit Drops 38% YoY to ₹98.88 Lakhs; Revenue Down 22%
Damodar Industries reported a weak performance for the quarter ended December 31, 2025, with net profit declining 38.4% year-on-year to ₹98.88 lakhs. Revenue from operations saw a significant contraction of 22.4%, falling to ₹9,328.91 lakhs compared to ₹12,026.57 lakhs in the same period last year. Sequentially, the company also faced pressure, with revenue and profit declining by 23.5% and 13.8% respectively compared to Q2 FY26. Additionally, the company noted the resignation of Independent Director Mr. Pankaj Srivastava.
Key Highlights
Net Sales for Q3 FY26 fell to ₹9,328.91 lakhs from ₹12,026.57 lakhs in Q3 FY25
Net Profit after tax decreased to ₹98.88 lakhs, down from ₹160.54 lakhs in the previous year's corresponding quarter
Earnings Per Share (EPS) for the quarter stood at ₹0.42, compared to ₹0.69 in Q3 FY25
Total expenses for the quarter were ₹9,274.00 lakhs, with raw material consumption accounting for ₹5,349.28 lakhs
Independent Director Mr. Pankaj Srivastava resigned from the board effective January 16, 2026
💼 Action for Investors
Investors should exercise caution as the company shows a significant decline in both top-line and bottom-line performance on a YoY and QoQ basis. Monitor the management's commentary regarding demand recovery and margin pressure in the textile sector.
Damodar Industries Proposes MD Salary Revision and Board Re-appointments via Postal Ballot
Damodar Industries has issued a postal ballot notice seeking shareholder approval for the revision of remuneration for Managing Director Aman Arun Biyani and Director Aditya A Biyani. The proposed base salary for the MD is set at ₹7.5 lakh per month with annual increments and performance-linked incentives up to 50%. Additionally, the company seeks to re-appoint Arunkumar Biyani as Chairman for a three-year term and Mrs. Mamta Biyani as an Independent Director. The e-voting period for these special resolutions is scheduled from December 24, 2025, to January 22, 2026.
Key Highlights
Proposed revision of MD Aman Arun Biyani's base salary to ₹7.5 lakh per month with ₹25,000 annual increments.
Performance-based incentive for the Managing Director capped at 50% of the base salary.
Re-appointment of Arunkumar Biyani as Chairman and Whole-time Director for a 3-year term despite being over 70 years old.
E-voting period spans from December 24, 2025, to January 22, 2026, with results expected by January 24, 2026.
Re-appointment of Mrs. Mamta Biyani as a Non-Executive Independent Director of the company.
💼 Action for Investors
Investors should assess whether the proposed executive compensation is commensurate with the company's financial performance and scale. Monitor the voting results on January 24, 2026, to confirm management stability and governance alignment.