AGM approves 12-month re-appointment of Executive Director Ram Babu Verma; revised perquisites for Mayank Goenka

Shareholders at the AGM held on 24th September 2026 approved two management items.

Thu 24 Sep 2026

Ram Babu Verma Re-appointment Period

12 months, from 27th December 2026 to 26th December 2027

Ram Babu Verma Age and Experience

Aged 63 years, over 37 years of executive experience

Mayank Goenka HRA Revision

House Rent Allowance of 40% of basic salary per month, effective 09 May 2026

Mayank Goenka Age and Background

Aged 28 years, engineering graduate from University of Glasgow, son of Managing Director Amitaabh Goenka

AGM Date

24th September 2026, held from 12:15 P.M. to 12:39 P.M.

What was approved

The Members approved two items at the Annual General Meeting held on 24th September 2026, which began at 12:15 P.M. and concluded at 12:39 P.M.

• Re-appointment of Shri Ram Babu Verma as Executive Director for a period of 12 months with effect from 27th December 2026.
• Change in perquisites and other amenities payable to Shri Mayank Goenka, Executive Director, with effect from 09 May 2026.

Ram Babu Verma

He was earlier re-appointed by members on 24th September 2025 for one year, a term expiring on 26th December 2026. As the next AGM falls after that date, the Board, on the recommendation of the Nomination and Remuneration Committee, approved a further term from 27th December 2026 to 26th December 2027. He is aged 63 years, holds a Bachelor's degree in Science, a Master's in Economics and an MSW (HR & IR), with over 37 years of executive experience. No relation with other directors is disclosed, and he is not debarred from holding office of director.

Mayank Goenka's revised perquisites

From 09 May 2026, he is entitled to revised perquisites subject to the Companies Act, 2013 and Schedule V:

• House Rent Allowance of 40% of basic salary per month
• Free chauffeur-driven conveyance for official purposes and travel between residence and factory/office
• Reimbursement of actual medical expenses for self, family and parents, subject to applicable limits
• Leave Travel Assistance for self, spouse and unmarried children once in two years, capped at one month's consolidated salary
• Leave and leave encashment as per Company rules, gratuity as per law, and telephone/mobile expenses for official use
• Other benefits applicable to senior executives or as approved by the Board / Nomination and Remuneration Committee

He is aged 28 years, an engineering graduate from the University of Glasgow, a member of the Institute of Engineers (India), with over five years of experience in project management and execution. He is the son of Shri Amitaabh Goenka, Managing Director and CEO of the company.

How to read this

This is a routine governance intimation about continuity in the executive team and a revision in the benefits package of a Whole Time Director. There is no change in the company's business operations disclosed here.

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