Key Resolutions Proposed

The company seeks shareholder approval through postal ballot for three ordinary resolutions:

1. Stock Split (1:5)

  • Sub-division of every 1 equity share of face value ₹10 into 5 equity shares of face value ₹2 each
  • Post-split capital structure:
  • Authorized Share Capital: ₹1,000 crore (500 crore shares of ₹2 each)
  • Paid-up Capital: ₹121.89 crore (60.945 crore shares of ₹2 each)
  • Subscribed Capital: ₹121.89 crore (60.945 crore shares of ₹2 each)
  • Total equity share capital remains unchanged at ₹1,000 crore authorized and ₹121.89 crore paid-up
  • Record date to be fixed by Board of Directors

2. Alteration of Capital Clause

  • Amendment to Clause V(a) of Memorandum of Association to reflect new face value of ₹2 per share
  • Authorized capital to be divided into 500 crore equity shares of ₹2 each instead of 100 crore shares of ₹10 each

3. Bonus Issue (1:2)

  • Issue of 1 bonus equity share for every 2 existing fully paid-up equity shares
  • Face value: ₹2 per bonus share
  • Maximum capitalization: ₹60.95 crore from securities premium and/or free reserves
  • Bonus shares to rank pari-passu with existing shares
  • Record date to be fixed by Board of Directors
  • Implementation within 2 months from June 3, 2026 (Board approval date)

Voting Details

  • Cut-off date: May 29, 2026 (for determining voting rights)
  • E-voting period: June 6, 2026 (9:00 AM IST) to July 5, 2026 (5:00 PM IST)
  • E-voting service provider: National Securities Depository Limited (NSDL)
  • Scrutinizer: Ms. Riddhi Shah, Practicing Company Secretary
  • Results announcement: By July 7, 2026 (within 2 working days of e-voting conclusion)

Capital Structure Impact

Pre and Post Stock Split Comparison:

| Capital Type | Pre-Split Shares | Face Value | Total Capital | Post-Split Shares | Face Value | Total Capital |

| Authorized | 100,000,000 | ₹10 | ₹1,000 crore | 500,000,000 | ₹2 | ₹1,000 crore |

| Paid-up | 12,189,000 | ₹10 | ₹121.89 crore | 60,945,000 | ₹2 | ₹121.89 crore |

| Subscribed | 12,189,000 | ₹10 | ₹121.89 crore | 60,945,000 | ₹2 | ₹121.89 crore |

Rationale and Purpose

  • Stock Split: Improve liquidity, enhance affordability for retail investors, broaden market participation
  • Bonus Issue: Reward shareholders for continued support, encourage investor participation
  • Both actions aim to make equity shares more accessible without diluting existing shareholdings

Shareholder Communication

  • Notice sent only through electronic mode to registered email addresses
  • Physical copies not being sent to shareholders
  • Advertisement in one English and one Gujarati newspaper
  • Documents available for inspection on company website during voting period

Important Dates

  • Cut-off Date: May 29, 2026
  • E-voting Start: June 6, 2026 (9:00 AM IST)
  • E-voting End: July 5, 2026 (5:00 PM IST)
  • Results Declaration: By July 7, 2026