NSE: EPACK
Mr. Bajrang Bothra
He oversees the business operations and management of our Company. He holds a master’s degree in commerce from Shri Ram College of Commerce, University of Delhi, and has approximately 27 years of experience in the electronics manufacturing sector. He is the chairman of the MSME council of the Consumer Electronics and Appliances Manufacturers Association (“CEAMA”) and a co-opted member of CEAMA’s executive committee.
Sanjay Singhania
He has earned a bachelor’s degree in commerce (with a major in accountancy) from Gauhati University, Guwahati, Assam, graduating with first-class honors. He also holds a master’s degree in business administration from Swinburne University of Technology, Victoria, Australia. With around 24 years of experience in the electronics manufacturing sector.
Ajay DD Singhania [Managing Director and Chief Executive Officer]
He holds a bachelor’s degree in technology (in electrical engineering) from Himachal Pradesh University Mr. Ajay DD Singhania has also completed a certificate course in ‘Executing Growth Strategies’ from the Wharton School, University of Pennsylvania. He has approximately 24 years of experience in the electronics manufacturing sector, he oversees the sales and marketing, production, supply chain management, and R&D departments of our company.
Nikhil Mohta [Nominee Director (Non-Executive Director)]
He is acting as investment manager, ICICI Venture Funds Management Company Limited) on the Board of our Company. He serves as the senior director of private equity at ICICI Venture Funds Management Company Limited. Previously, he has worked with McKinsey & Company and Carlyle India Advisors Private Limited.
Vibhav Niren Parikh [Nominee Director (Non-Executive Director)]
He represents Augusta Investments Zero Pte. Ltd. and is a Non-Executive Director on our company’s Board. He currently holds the position of Managing Director at Affirma Capital Investment Advisor India Private Limited. With 22 years of experience, His expertise lies in business leadership, client relationships, transaction execution, and investment management. He gained this experience from his tenure at companies like Standard Chartered Private Equity Advisory (India) Private Limited, TPG Growth Advisors (India) Private Limited.
Independent directors’ qualification:
• The Independent Directors at Epack Durables Ltd. bring diverse expertise in civil services, banking, management consultancy, engineering, and marketing, aligning with the company’s strategic goals. {27}
• Their qualifications include leadership roles in top institutions, entrepreneurial recognition, and technical expertise in precision manufacturing and white goods. This diverse skill set enhances governance, strategy, and market positioning.
• All directors meet independence criteria under Section 149(6) of the Companies Act and SEBI Listing Regulations, ensuring compliance and transparency. Their collective experience drives sustainable growth and strengthens corporate responsibility.
Board efficiency:
• The attendance of board members at the company meeting during FY24-25 shows a high level of commitment.
• The board meeting was held 13 times in FY24, and all the members maintained an average attendance of 82% {28}.
• Shows the efficiency of the board This strong attendance shows strong engagement by the board in corporate governance of the company
Relationships in the board {29} :
• Mr. Ajay DD Singhania (Managing Director and Chief Executive Officer) and Mr. Sanjay Singhania (Whole-time Director) are brothers.
• Mr. Bajrang Bothra(Chairman and Whole-time Director) is the brother of Mr. Laxmi Pat Bothra, one of the promoters of the Company (Mr. Laxmi Pat Bothra served as Non-Executive Director up to January 16, 2024).
Corporate transactions:
Company has demonstrated transparency in its handling of related party transactions for FY24. A detailed review of the financial statements shows the following outflows to managers and their relatives:
• Loans taken and repaid from EPACK Polymers Private Limited totaling ₹30.00 million in Fiscal 2022 and ₹81.00 million in Fiscal 2021.{30}
• Loans given to Epavo Electricals Private Limited totaling ₹46.13 million in Fiscal 2023. {31}
Composition of Audit, Remuneration, and Nomination Committee {32}:
• Audit Committee Composition: The Committee comprises six experienced members, providing a well-rounded team to oversee the company's financial reporting and governance processes. Ms. Priyanka Gulati serves as the committee’s Chairperson. The committee includes Mr. Kailash Chandra Jain, Mr. Sanjay Singhania, Mr. Vibhav Niren Parikh, Mr. Sameer Bhargava, and Mr. Shashank Agarwal as members.
• **It is important to note that Mr. Sanjay Singhania, who serves as a Whole-Time Director, and Mr. Vibhav Niren Parikh, a Nominee Director and Non-Executive Director, are part of the Audit Committee.
• The Nomination and Remuneration Committee: The committee is composed of 2 independent members: Ms. Priyanka Gulati, who serves as the Chairperson, along with Mr. Sameer Bhargava with Mr. Bajrang Bothra who is Chairman and Whole-Time Director of the company
• **Mr. Bajrang Bothra, the Chairman and Whole-Time Director of the company, holds significant influence over the organization’s strategic and operational matters, which may compromise the independence of the committee.
Managerial Remuneration Analysis
• This remuneration table shows that the remuneration increase was not linked to revenue performance as a 7.73% decline in sales (₹1,539 million in FY23 to ₹1,420 million in FY24), the MD’s remuneration grew by 37.93%.
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