Meeting Details

  • Type of Meeting: Postal Ballot (Remote E-voting)
  • Notice Date: June 11, 2026
  • Cut-off Date (Record Date): June 19, 2026
  • Voting Period: June 24, 2026 (9:00 AM IST) to July 23, 2026 (5:00 PM IST)
  • Total Number of Shareholders as on cut-off date: 92,740

Proposed Resolution and Implications

The single resolution proposed was a Special Resolution for the appointment of Ms. Preeti Grover (DIN: 00128513) as a Non-Executive Independent Director of the Company. This resolution required shareholder approval to formalize her appointment to the company's board.

Voting Process and Methods

The voting was conducted entirely through remote e-voting facilitated by Central Depository Services (India) Limited (CDSL) via their platform www.evotingindia.com. No physical polling or postal ballot (paper) was used. The notice was dispatched via email to members whose email IDs were registered with the depositories or the RTA. It was also published on the company's website (www.hoec.com), the websites of BSE Limited (www.bseindia.com) and National Stock Exchange of India Limited (www.nseindia.com), and through newspaper advertisements in Business Line, Business Standard (Ahmedabad edition), and Loksatta (Vadodara edition) on June 24, 2026.

Key Voting Outcomes

  • Total Votes Cast: 15,237,772 shares
  • Percentage of Votes Polled on Outstanding Shares: 11.5225%
  • Votes in Favor: 15,226,988 shares (99.9292% of votes polled)
  • Votes Against: 10,784 shares (0.0708% of votes polled)
  • Result: The resolution was passed.

Participation Breakdown by Shareholder Category

  • Promoter and Promoter Group:
  • Shares Held: 0
  • Votes Polled: 0
  • % of Votes Polled: 0.0000%
  • Votes in Favor: 0
  • Votes Against: 0
  • Public Institutions:
  • Shares Held: 2,455,935
  • Votes Polled: 1,250,745
  • % of Votes Polled: 50.9274%
  • Votes in Favor: 1,250,745 (100.0000% of votes polled in this category)
  • Votes Against: 0 (0.0000% of votes polled in this category)
  • Public - Non-Institutions:
  • Shares Held: 129,787,354
  • Votes Polled: 13,987,027
  • % of Votes Polled: 10.7769%
  • Votes in Favor: 13,976,243 (99.9229% of votes polled in this category)
  • Votes Against: 10,784 (0.0771% of votes polled in this category)
  • Overall Total:
  • Total Shares Outstanding: 132,243,289
  • Total Votes Polled: 15,237,772
  • Total % Votes Polled: 11.5225%
  • Total Votes in Favor: 15,226,988 (99.9292%)
  • Total Votes Against: 10,784 (0.0708%)

Scrutinizer's Role, Findings, and Conclusions

Mr. S Sandeep, Managing Partner of M/s. S. Sandeep & Associates, Company Secretaries, was appointed as the Scrutinizer. His role was to scrutinize the postal ballot process conducted via electronic means in a fair and transparent manner, as per Section 110 of the Companies Act, 2013 and the Companies (Management and Administration) Rules, 2014.

He monitored the e-voting process through a secured link provided by CDSL. After the voting period ended, the votes were unblocked in the presence of two independent witnesses, Mr. Ragul and Ms. Novina Bertina. The results were reconciled with the records maintained by the Registrar and Share Transfer Agent (RTA).

Scrutinizer's Specific Findings for the Resolution:

  • Number of Voters: 240
  • Number of Votes: 15,237,772 shares
  • Votes in Favor (Assent): 15,226,988 shares (99.93%)
  • Votes Against (Dissent): 10,784 shares (0.07%)

Conclusion: The Scrutinizer reported that as the number of votes cast in favor was more than three times the votes cast against, the Special Resolution was passed with the requisite majority. The result is deemed to have been passed on July 23, 2026.

Compliance Confirmation

The disclosure confirms compliance with:

  • Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
  • Section 110 of the Companies Act, 2013 and the Companies (Management and Administration) Rules, 2014.
  • Relevant MCA General Circulars and SEBI Circulars governing the e-voting process.