Abate AS Industries shareholders approve MOA change for healthcare expansion
- Shareholders passed all eight resolutions with 100% support from valid votes
- 28 shareholders representing 107.96 million shares participated in e-voting
- MOA alteration approved to expand operations into healthcare and digital health
- Promoter group polled 32.84 million votes, accounting for 64.27% of their holdings
*this image is generated using AI for illustrative purposes only.
Abate AS Industries shareholders approved a strategic alteration to the company’s Memorandum of Association during its 35th Annual General Meeting held on September 16, 2026. The resolution aims to expand the firm’s operational scope to include advanced healthcare services and digital health systems.
The meeting was conducted via video conferencing, commencing at 3:00 pm and concluding at 3:20 pm. A total of 20 members attended, satisfying the quorum requirements under Section 103 of the Companies Act, 2013. Dr. Adv. A. Samsudeen, Chairman and Non-Executive Director, presided over the proceedings.
Voting Results
The consolidated scrutinizer’s report from Lakshmi Subramanian & Associates confirmed that all eight resolutions were passed with requisite majorities. Remote e-voting was facilitated by Central Depository Services (India) Limited from September 13 to September 15, 2026.
A total of 28 shareholders participated in the e-voting process, representing 107,962,272 shares. This accounted for 68.50% of the total votes polled on outstanding shares. All valid votes cast were in favour of every resolution, resulting in a 100% approval rate across the board.
| Category | Shares Held | Votes Polled | % of Votes Polled |
|---|---|---|---|
| Promoter and Promoter Group | 51,089,000 | 32,836,187 | 64.27% |
| Public - Non Institutions | 106,517,456 | 75,126,085 | 70.53% |
| Total | 157,606,456 | 107,962,272 | 68.50% |
One invalid vote comprising 1,625,272 shares was recorded against the special resolution for the reappointment of Dr. Muhammed Swadique as Executive Director. This vote originated from the promoter group but did not affect the final outcome, as the resolution still secured unanimous support among valid votes.
Key Resolutions Passed
Shareholders approved several ordinary and special resolutions. The board highlighted robust operational turnover and the expansion of its super-speciality eye hospital chain as key performance drivers for FY26. The statutory and secretarial auditor reports contained no adverse qualifications.
| Resolution Type | Description | Status |
|---|---|---|
| Ordinary | Adoption of Audited Standalone and Consolidated Financial Statements for FY26 | Passed |
| Ordinary | Reappointment of Mr. Rajesh Puthussery as Director | Passed |
| Ordinary | Reappointment of Mr. Abdul Nazar Jamal Kizhisseri Muhammed as Director | Passed |
| Special | Reappointment of Dr. Muhammed Swadique as Executive Director for five years | Passed |
| Special | Reappointment of Ms. Julie G Varghese as Independent Director for second term | Passed |
| Special | Reappointment of Ms. Indu Kamala Ravindran as Independent Director for second term | Passed |
| Special | Regularization of appointment of Mr. Aboobaker Vattamkandathil as Independent Director | Passed |
| Special | Alteration of Main Object Clause in MOA to include healthcare and digital health activities | Passed |
Governance and Compliance
The Company Secretary and Compliance Officer confirmed that M/s. Mah.esh C. Solanki & Co. served as statutory auditors, while M/s. Lakshmi Subramanian & Associates acted as secretarial auditors and scrutinizers.
Dr. Rajesh Puthussery, Mr. Abdul Nazar Jamal Kizhisseri Muhammed, Mr. Pattassery Alavi Haji, Mr. Eramangalath Gopalakrishna Panicker Mohankumar, and Mr. Sivadas Chettoor were unable to attend due to prior engagements. The register of directors’ shareholdings and contracts was available for electronic inspection during the meeting.
Historical Stock Returns for Abate AS Industries
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.36% | -4.95% | -7.30% | -28.63% | -53.36% | -14.60% |
What specific capital allocation or M&A strategy will Abate AS Industries employ to fund its entry into the advanced healthcare and digital health sectors?
How does the company plan to leverage its existing super-speciality eye hospital chain to cross-sell or integrate new digital health services?
Will the expansion into digital health systems require new regulatory approvals or partnerships with established tech firms, and what are the associated timelines?
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