News ArticleMilky Mist Dairy Food Limited Secures Shareholder Approval on Employee Stock Option Scheme Enhancements and Executive Pay
Special resolutions passed via postal ballot by November 6, 2026, including ratification of ESOP 2025 and remuneration approvals for Chairman and CEO
Milky Mist Dairy Food Limited conducted a postal ballot for special resolutions including ratification and modification of its Employee Stock Option Scheme 2025, amendments to Articles of Association, and approval of executive remuneration for fiscal year 2026. The resolutions passed with strong shareholder support, notably 100% promoter votes and major approval from public shareholders.
Milky Mist Dairy Food Limited
Corporate Action
Milky Mist Dairy Food Limited finalized the results of its postal ballot held via remote e-voting, where shareholders approved six key special resolutions including the ratification and modification of the Employee Stock Option Scheme 2025, amendments to the company's Articles of Association, and executive remunerations for top management.
The postal ballot voting took place from October 8, 2026, to November 6, 2026, allowing all shareholders to cast their votes remotely.
The six special resolutions included ratification of the Employee Stock Option Scheme (ESOS) 2025, modifications to existing grants under that scheme, amendments to the Articles of Association, and approvals for remuneration payable to Mr. Sathishkumar T, Chairman and Managing Director, and Dr. K Rathnam, Whole-time Director and CEO.
The results showed overwhelming shareholder support for ratifying and amending the ESOS 2025, with promoters voting 100% in favor and public non-institutions largely supportive.
Approval of remuneration for the Chairman and Managing Director was also secured with 99.46% votes in favor.
The company complied with SEBI regulations and appointed an independent scrutinizer to oversee the voting process.
Highlights
- Postal ballot conducted exclusively via remote e-voting from October 8 to November 6, 2026.
- Total shareholders as of October 2, 2026: 155,840.
- Ratification of ESOS 2025 passed with 96.73% overall voting in favor.
- Modification of ESOS grants approved with 95.04% vote in favor.
- Amendments to Articles of Association unanimously approved with 100% votes in favor.
- Remuneration for Chairman Sathishkumar T approved with 99.46% votes in favor despite promoter interest in the agenda.
Key Data Snapshot
What happened
- Milky Mist Dairy Food Limited held a postal ballot via remote e-voting from October 8 to November 6, 2026, to pass six special resolutions requiring shareholder approval.
- Resolutions concerned the Employee Stock Option Scheme 2025 ratification and modification, Articles of Association amendment, and approval of executive remunerations.
- Independent scrutiny was conducted by Ms. B Chandra, Company Secretary in Practice.
- All special resolutions were passed with requisite majority by shareholders.
Key details
- Promoter and promoter group shares constituted 612,129,506 of total shares outstanding.
- Public institutions held 68,011,234 shares, and public non-institutions held 89,702,671 shares as of the cut-off date.
- High voting participation of 85.35% of outstanding shares was recorded during the ballot.
- Voting outcomes showed near unanimity with promoter votes at 100% approval on resolutions and strong public shareholder support.
Regulatory and governance context
- The postal ballot process adhered to Section 110 of the Companies Act, 2013, and SEBI Listing Regulations.
- Remuneration approval to the Chairman was in compliance with Regulation 17(6)(e)(i) of SEBI Listing Regulations.
- Voting results and scrutinizer report were filed in accordance with SEBI disclosure requirements.
- The company’s disclosures are also available on their official website at https://www.milkymist.com.
Highlights
- Postal ballot conducted exclusively via remote e-voting from October 8 to November 6, 2026.
- Total shareholders as of October 2, 2026: 155,840.
- Ratification of ESOS 2025 passed with 96.73% overall voting in favor.
- Modification of ESOS grants approved with 95.04% vote in favor.
- Amendments to Articles of Association unanimously approved with 100% votes in favor.
- Remuneration for Chairman Sathishkumar T approved with 99.46% votes in favor despite promoter interest in the agenda.
Disclosures
- Section 110 of the Companies Act, 2013
- SEBI Listing Regulations 2015
- Regulation 17(6)(e)(i) of SEBI Listing Regulations
Promoter and promoter group were interested in the resolution approving remuneration payable to the Chairman and Managing Director.
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