Veto Switchgears Approves FY26 Annual Report, 19th AGM on Sep 28
Veto Switchgears' Board approved the FY26 Annual Report and set the 19th AGM for September 28, 2026. Key management remuneration was revised effective October 1, 2026: MD & CEO's salary increased to ₹4 lakh/month, CFO's to ₹1.3 lakh/month, and Non-Executive Director's to ₹70,000/month.
The approval of the annual report and the scheduling of the AGM are routine corporate governance activities. However, the revision in remuneration for key management personnel, particularly the MD & CEO, could have a moderate impact on operational costs and investor perception.
The announcement primarily details the outcome of a board meeting, including approval of annual reports and scheduling of the AGM. While management remuneration has been revised, there are no significant financial performance indicators or strategic shifts that would strongly influence sentiment.
Veto Switchgears and Cables Limited announced the outcome of its Board Meeting held on September 4, 2026. The board discussed and approved the Annual Report for the financial year 2025-26, which includes the Directors' Report, Audited Financial Statements (Consolidated & Standalone) for the year ended March 31, 2026, and the Auditors' Report.
The company also approved the Notice for its 19th Annual General Meeting (AGM), scheduled for Monday, September 28, 2026, to be conducted through Video Conferencing (VC) or other audio-visual mode (OAVM). The Notice and Annual Report will be dispatched to shareholders whose names appear on the register as of August 29, 2026.
Furthermore, the Register of Members and Share Transfer Books will be closed from September 22, 2026, to September 28, 2026, inclusive, for the purpose of the AGM. E-voting facilities will be provided by CDSL, with the cut-off date for eligibility being September 21, 2026. The remote e-voting period will run from September 25, 2026, 9:00 AM to September 27, 2026, 5:00 PM. Mr. Govind Jaiswal has been appointed as the scrutinizer.
The board also approved revisions in the remuneration for key management personnel, effective October 1, 2026. Mr. Akshay Kumar Gurnani, Managing Director & CEO, will see his monthly remuneration increase from ₹3,00,000 to ₹4,00,000. Mr. Narain Das Gurnani, Whole-time Director & CFO, will have his remuneration revised from ₹1,00,900 to ₹1,30,000 per month. Ms. Jyoti Gurnani, Non-Executive Director, will have her monthly remuneration increased from ₹50,000 to ₹70,000.
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Veto Switchgears And Cables Limited filed this with the NSE as a statutory disclosure, categorised under board meeting. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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