Gland Pharma Limited announced on May 14, 2026, that its shareholders have reappointed Ms. Naina Lal Kidwai (DIN: 00017806) as an Independent Director for a second consecutive term. The appointment is effective for five years from May 17, 2026, to May 16, 2031. Shareholders also approved the payment of commission on profits as remuneration to her. The decision was ratified through a remote e-voting process conducted as a postal ballot, with results verified by Scrutinizer D Soumya, Associate Partner of RVR & Associates (FCS No.: 11754; C.P No: 13199), confirming the Special Resolution was passed with the requisite majority in compliance with the Companies Act, 2013, and SEBI regulations.

Postal Ballot Overview

The Special Resolution was passed pursuant to a postal ballot notice dated April 09, 2026. The remote e-voting facility was open from April 14, 2026, to May 13, 2026, with the cut-off date for eligible shareholders set as April 10, 2026. The e-voting platform was provided by MUFG Intime India Private Limited (formerly Link Intime India Private Limited). Physical copies of the postal ballot notice and forms were not dispatched to members, in line with applicable MCA circulars permitting electronic-only communication. The Company also issued a newspaper advertisement on April 04, 2026, to facilitate members who had not yet registered their email addresses.

Voting Results

The resolution received strong shareholder support. A total of 14,94,37,703 votes were polled, representing 90.70% of the total outstanding shares. Of the votes cast, 94.18% were in favour of the reappointment, while 5.82% were against it. No invalid votes were recorded.

Category-Wise Breakdown

The Promoter and Promoter Group cast 100% of their votes in favour of the resolution. Public Institutions participated at a rate of 95.55%, with 86.42% of polled votes supporting the resolution. Public Non-Institutions had a lower participation rate of 0.06%, with 68.17% of votes in favour. The detailed category-wise breakdown is presented below.

The Scrutinizer's Report was submitted by D Soumya, Associate Partner, RVR & Associates (FCS No.: 11754; C.P No: 13199; UDIN: F011754H000363248), confirming that the Special Resolution was passed with the requisite majority. All electronic data and relevant records relating to the remote e-voting are held under the scrutinizer's custody until the Chairman approves and signs the Minutes of the Postal Ballot, after which they will be handed over to the Company Secretary for preservation.

Gland Pharma witnessed a notable block trade on the National Stock Exchange (NSE), with approximately 1,52,565 shares transacted at a price of ₹1805.90 per share, aggregating to a total deal value of ₹27.55 crores. Block trades of this magnitude are typically executed by institutional participants and are closely tracked by market observers as they reflect significant large-scale investor activity in the stock.

Block Trade Details

The following table summarises the key parameters of the block trade recorded on the NSE:

Block deals are executed through a separate trading window and involve a single transaction of shares meeting a minimum threshold, making them a key indicator of institutional interest in a particular stock.