Key Decisions and Approvals

1. Stock Split Approval

  • Approved sub-division (split) of 1 existing equity share of face value ₹10 each into 10 equity shares of face value ₹1 each
  • Subject to approval of shareholders and other regulatory/statutory approvals
  • Record date to be intimated after shareholder approval
  • Authorized share capital remains unchanged at ₹25,00,00,000 but now divided into 25,00,00,000 equity shares of ₹1 each instead of 2,50,00,000 shares of ₹10 each
  • Current issued, subscribed and paid-up capital: 1,87,13,600 shares of ₹10 each (₹18,71,36,000)
  • Post-split paid-up capital: 18,71,36,000 shares of ₹1 each (₹18,71,36,000)
  • Rationale: To make shares more affordable and attractive to retail investors, enhance liquidity
  • Expected completion: Within 2 months from receipt of all approvals

2. Promoter Reclassification Approval

  • Approved requests from promoter & promoter group for reclassification from 'Promoter and Promoter Group' to 'Public' category
  • Subject to receipt of 'No Objection Certificate' from BSE Limited
  • List of entities seeking reclassification:
  • Vinod Prabhulal Mehta (Promoter) - 4,17,620 shares (1.72%)
  • Amrish Vinod Mehta (Promoter Group) - 53,300 shares (0.28%)
  • Jyoti Vinodchandra Mehta (Promoter Group) - 30,500 shares (0.16%)
  • Piyush Chimanlal Vora (Promoter) - 10,010 shares (0.05%)
  • Purnimaben Piyushbhai Vora (Promoter Group) - 1,510 shares (0.01%)
  • Arvindbhai Kantilal Shah (Promoter Group) - 0 shares
  • Chintan Arvindbhai Shah (Promoter Group) - 0 shares
  • Parul Shah (Promoter Group) - 0 shares
  • Ranjanben Upendra Dholakia (Promoter Group) - 0 shares
  • Vinit Arvind Shah (Promoter Group) - 0 shares

3. Director Resignations

  • Mr. Priyansh Tejas Parekh (DIN: 10780868) resigned as Independent Director effective close of business hours on July 9, 2026
  • Ms. Neepa Praful Kothari (DIN: 02461588) resigned as Director effective close of business hours on July 9, 2026
  • Mr. Vinod Prabhulal Mehta (DIN: 00094718) resigned as Executive Director effective close of business hours on July 9, 2026
  • All resignations cited increased professional commitments and personal reasons
  • No material reasons other than those mentioned in resignation letters

4. New Director Appointments

  • Mr. Nitish Pratapray Mehta (DIN: 09555034) appointed as Additional Executive Director for 5 years from July 9, 2026

Profile: Experience in finance, accounting, corporate management, HR, strategic planning, business operations

  • Mr. Hiren Dhirajlal Shah (DIN: 09842161) appointed as Additional Executive Director for 5 years from July 9, 2026

Profile: BCA and LL.B. degrees, experience in finance, accounting, business administration, corporate management

  • Mr. Sandeep Mahadik (DIN: 11814050) appointed as Non-Executive Independent Director for 5 years from July 9, 2026 to June 8, 2031, subject to shareholder approval

Profile: Extensive experience in finance, accounting, business administration, corporate management, strategic planning

  • All new directors are not related to any existing directors/KMP and not debarred from directorship

5. Committee Reconstitution

Effective July 9, 2026:

Audit Committee

  • Chairperson: Kishan Kanjaria (Non-Executive Independent Director)
  • Member: Jyoti Jashvantray Kataria (Non-Executive Independent Director)
  • Member: Hiren Dhirajlal Shah (Additional Executive Director)

Nomination and Remuneration Committee

  • Chairperson: Jyoti Jashvantray Kataria (Non-Executive Independent Director)
  • Member: Kishan Kanjaria (Non-Executive Independent Director)
  • Member: Sandeep Mahadik (Additional Non-Executive Independent Director)

Stakeholders Relationship Committee

  • Chairperson: Jyoti Jashvantray Kataria (Non-Executive Independent Director)
  • Member: Kishan Kanjaria (Non-Executive Independent Director)
  • Member: Sandeep Mahadik (Additional Non-Executive Independent Director)

Financial Impact

Stock split will not change the total value of authorized or paid-up capital, only the number of shares and face value. Promoter reclassification may change ownership classification but not total outstanding shares.