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Windsor Machines Limited Announces Reappointment of CEO Vinay Bansod

Windsor Machines Limited Reappoints Vinay Bansod as CEO

Mumbai, India - Windsor Machines Limited has announced the reappointment of Mr. Vinay Bansod as the Executive Director and Chief Executive Officer (CEO) of the company. The decision was made during the board meeting held on July 30, 2024. Mr. Bansod will continue to lead the company for an additional three years, from May 13, 2024, to May 12, 2027.

Key Details of the Reappointment

Board Meeting Outcome

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the board of directors of Windsor Machines Limited has approved the reappointment of Mr. Vinay Bansod. This decision was based on the recommendation of the Nomination and Remuneration Committee.

Key Points:

  • Position: Whole-Time Director and CEO
  • Term: May 13, 2024, to May 12, 2027
  • Remuneration: The same as the previous term, with a CTC of Rs. 92.50 lakhs per annum

E-Voting and Postal Ballot

The reappointment of Mr. Bansod is subject to approval through a postal ballot process, with voting conducted electronically. The e-voting period will commence on July 31, 2024, at 9:00 AM IST and end on August 30, 2024, at 5:00 PM IST.

Background of Mr. Vinay Bansod

Professional Experience

Mr. Vinay Bansod, a seasoned professional with over 29 years of experience, has been instrumental in strategic planning and execution, cost optimization, technology transfers, and development within the company. He has been associated with Windsor Machines Limited since February 2011.

Educational Background:

  • Degree: Bachelor of Engineering (Electrical) from Govt. College of Engineering, Amravati, Maharashtra

Previous Performance

During his tenure as the CEO, Mr. Bansod has contributed significantly to the company’s growth. Under his leadership, the company reported a net profit of Rs. 3.42 crore for the financial year ended March 31, 2024.

Financial Performance

Standalone Audited Accounts (Rs. in Crore)

ParticularsMarch 31, 2024March 31, 2023March 31, 2022
Gross Turnover & Other Income342.56353.11339.35
Net profit/(loss) after tax3.4216.8413.78
Net Worth295.98299.42289.54

Voting Instructions

E-Voting Details:

  • Start Date and Time: July 31, 2024, at 9:00 AM IST
  • End Date and Time: August 30, 2024, at 5:00 PM IST

The company has appointed Ms. Rama Subramanian, a Company Secretary in Practice, to scrutinize the postal ballot and e-voting process.

Steps for E-Voting:

  1. Visit the e-voting website: www.evotingindia.com
  2. Log in using your credentials.
  3. Follow the instructions to cast your vote.

Conclusion

The reappointment of Mr. Vinay Bansod is a strategic move by Windsor Machines Limited to ensure continued leadership and growth. Shareholders are encouraged to participate in the e-voting process to approve the reappointment and support the company's ongoing success.

For further information, visit the company’s website at www.windsormachines.com.

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