Onward Technologies Ltd Announces 35th Annual General Meeting and Key Board Appointments

Onward Technologies Ltd Announces 35th Annual General Meeting and Key Board Appointments​

Onward Technologies Limited has scheduled its 35th Annual General Meeting (AGM) for July 16, 2026. The meeting will be held via Two-way Video Conferencing (VC) or Other Audio Visual Means (OAVM).

The AGM agenda includes the adoption of the company’s financial statements and a key focus on managerial appointments, dividend declaration, and director reappointments.

Key Dates for Shareholders​

The company has finalized several critical dates in relation to its 35th AGM and the payment of dividends for the Financial Year (FY) 2025-2026.

AGM Business and Financial Performance​

The Ordinary Business at the AGM includes receiving and considering the audited Standalone and Consolidated Financial Statements for the financial year ended March 31, 2026. The meeting will also address the declaration of a final dividend on Equity Shares. Furthermore, it is scheduled to appoint a director in place of Mr. Harsha Raghavan, who retires by rotation.

The Special Business items feature re-appointments and approval of remuneration for senior executives and Independent Directors.

Financial performance across both standalone and consolidated figures shows growth compared to the previous year:

Management and Director Appointments​

The AGM is set to approve the re-appointment of several senior personnel:

Executive Leadership Reappointments:

• Mr. Harish Mehta: Was proposed for re-appointment as a Whole-time Director designated as Executive Chairman for a five-year term, commencing from May 14, 2026 and ending on May 13, 2031.
• Mr. Jigar Mehta: Was proposed for re-appointment as Managing Director for a five-year period, starting May 14, 2026 until May 13, 2031.

Both Messrs. Mehta were approved for remuneration packages through the Special Resolution to be held at the AGM. Key elements of Mr. Harish Mehta's proposed remuneration package include:

• Fixed Salary of ₹ 1,42,00,000/- for FY 2026-27 (with a subsequent annual increment of 5%).
• Performance Incentive eligibility of 5% of Net Profit, capped at 150% of the Fixed salary.
• Insurance coverage including GMC (₹ 12 Lakhs per annum), GPA (₹ 50 Lakhs per annum), and D&O (₹ 25 crores).

For Mr. Jigar Mehta, the proposed remuneration includes:

• Fixed Salary of ₹ 2,00,00,000/- for FY 2026-27 (with a subsequent annual increment of 5%).
• Performance Incentive eligibility of 5% of Net Profit, capped at 150% of the Fixed salary.
• Insurance coverage including GMC (₹ 12 Lakhs per annum), GPA (₹ 50 Lakhs per annum), and Group Term Life Insurance (₹ 4 crores).

Independent Directors Reappointments:
Two Independent Directors were proposed for a second three-year term, beginning May 12, 2026:

• Mr. Dhanpal Jhaveri: Proposed for re-appointment as an Independent Director.
• Mr. Jai Diwanji: Proposed for re-appointment as an Independent Director.

Shareholding Details and Remuneration History​

The company’s executive directors hold significant equity shares:

The proposed remuneration packages are described by the company as reasonable and comparable to those paid to managerial personnel in similar positions within peer companies of the same industry size.

Prior remunerations for the two Mehta executives during the past three financial years were reported in ₹ lakhs:

ONWARDTEC Stock Price Movement​

As of 12:39 PM, Onward Technologies Limited shares are rallying to ₹260.65, gaining 1.50% in live trading. The equity saw brisk activity today, trading 49,399 shares and reaching an intraday high of ₹265.50.