Company Disclosure: Board Meeting Outcome

Board Meeting Details

The Board of Directors meeting was held on Monday, October 26, 2026, commencing at 05:00 PM and concluding at 05:30 PM.

Key Approvals and Decisions

1. Equity Share Sub-Division

The Board considered and approved the sub-division of the face value of each equity share of the Company from ₹5 (Rupees Five only) each to ₹1 (Rupees One Only) each. The specific ratio is:

  • Every 1 (one) existing equity share of face value ₹5 each fully paid-up will be subdivided into 5 (five) equity shares of face value ₹1 each fully paid-up

This approval is subject to the approval of the members of the Company.

2. Memorandum of Association Alteration

The Board approved consequential alteration of the Capital Clause (Clause V) of the Memorandum of Association of the Company, subject to shareholder approval.

3. Scrutinizer Appointment

The Board approved the appointment of CS Rupal Patel, Practising Company Secretary, as the Scrutinizer for conducting the postal ballot process in a fair and transparent manner.

4. Postal Ballot Approval

The Board approved conducting a postal ballot to seek member approval for:

  • Sub-division of equity shares from face value of ₹5 each to ₹1 each
  • Consequential alteration of Clause V (Capital Clause) of the Memorandum of Association
5. Documentation Approval

The Board approved the draft notice to be sent to shareholders and calendar of events pursuant to the proposed postal ballot.

Implementation Timeline and Process

The record date for determining entitlement of members to subdivided equity shares will be announced in due course after obtaining requisite approvals. The Company expects to complete the process within 2 months from the date of Board approval (October 26, 2026), subject to necessary approvals.

Share Capital Impact

Pre-Split Capital Structure:

  • Authorized Share Capital: 14,00,00,000 shares of ₹5 each = ₹70,00,00,000
  • Paid-up Share Capital: 13,79,22,800 shares of ₹5 each = ₹68,96,14,000
  • Subscribed Share Capital: 13,79,22,800 shares of ₹5 each = ₹68,96,14,000

Post-Split Capital Structure:

  • Authorized Share Capital: 70,00,00,000 shares of ₹1 each = ₹70,00,00,000
  • Paid-up Share Capital: 68,96,14,000 shares of ₹1 each = ₹68,96,14,000
  • Subscribed Share Capital: 68,96,14,000 shares of ₹1 each = ₹68,96,14,000

Rationale for Sub-Division

The proposed corporate action aims to enhance liquidity of the Company's equity shares and enable higher participation from public shareholders.

Share Class Information

The sub-division applies to equity shares only, as there is only one class of equity shares issued by the Company.