On March 21, 2025, Ranjeet Mechatronics Ltd. concluded its postal ballot to approve various resolutions crucial for the company’s future growth. The postal ballot was held to seek shareholder approval for key matters including the issuance of bonus shares, a split of shares from a face value of Rs. 10 to Rs. 5 per share, as well as increased remuneration for the company's key executives. Shareholders were also asked to vote on the migration of the company from the SME board to the main board of the Bombay Stock Exchange (BSE), and an increase in the authorized share capital of the company.

The Postal Ballot Notice was sent out to all shareholders on February 19, 2025, with e-voting commencing on February 20, 2025, and concluding on March 21, 2025. The remote e-voting process was facilitated by National Securities Depository Limited (NSDL), ensuring all shareholders had the opportunity to participate electronically.

Resolutions Passed:

1. Bonus Share Issuance: The first resolution sought approval for the issuance of bonus shares. With overwhelming support from shareholders, the resolution was passed with 100% votes in favor, showcasing strong confidence in the company’s financial position and growth prospects.

2. Share Split: The second resolution proposed the split of shares from Rs. 10 to Rs. 5 per share. This split aims to increase liquidity and make shares more accessible to a broader investor base. The resolution passed successfully with a significant majority, with 99.96% votes in favor.

3. Remuneration Increases:

   • Mr. Rakesh Swadia, Chairman and Managing Director, and Mr. Devarshi Swadia, Whole-time Director, both had proposed remuneration increases. Shareholders expressed approval, with 99.94% voting in favor of the proposal for Mr. Rakesh Swadia and 99.81% in favor of Mr. Devarshi Swadia’s remuneration hike.

4. Migration to Main Board: The proposal for the migration from the SME board to the main board of the BSE was also approved. This move is expected to raise the company’s profile and provide greater visibility in the capital markets.

5. Increase in Authorized Share Capital: A resolution for an increase in the company’s authorized share capital was also passed. This change will provide the company with greater flexibility to issue new shares for future capital raising initiatives.

Scrutiny and Voting Process:

The voting process was meticulously scrutinized by Mr. Abhishek Prakashchand Chhajed, a partner at SCS AND Co. LLP, appointed as the scrutinizer. The scrutiny of the votes was completed on March 22, 2025, ensuring transparency and fairness in the results.

The final voting results indicate that all the resolutions, both ordinary and special, have been passed with overwhelming support from shareholders, reflecting their confidence in the company's future strategy and leadership.

Conclusion:

Ranjeet Mechatronics Ltd. is poised for significant strategic moves, including the issuance of bonus shares, a share split, and a migration to the main board, all of which are expected to enhance the company’s market presence and growth potential. The shareholders' resounding approval demonstrates their continued trust in the company’s management and vision for future expansion. With these resolutions in place, Ranjeet Mechatronics is ready to take the next steps in its growth journey.

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