Ishan Dyes & Chemicals Limited has successfully completed the dispatch of its postal ballot notice for seeking shareholder approval on the re-appointment of two key directors. The company issued the postal ballot notice dated March 21, 2026, in compliance with Regulation 30 of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Regulatory Compliance and Notice Dispatch

The company has fulfilled its regulatory obligations by completing the dispatch of the postal ballot notice on Monday, March 30, 2026, and publishing the required newspaper advertisements on Tuesday, March 31, 2026. The advertisements were published in Business Standard (English newspaper) and Jai Hind (vernacular newspaper), both having electronic editions, providing e-voting information and confirming completion of notice dispatch.

Postal Ballot Timeline and E-voting Process

The company has established a comprehensive timeline for the postal ballot process, with all voting to be conducted through remote e-voting only. The cut-off date for determining shareholder eligibility has been set as Friday, March 20, 2026.

Proposed Director Re-appointments

The postal ballot seeks approval for two special resolutions regarding director re-appointments:

Re-appointment of Mr. Shrinal P Patel as Whole Time Director

The company proposes to re-appoint Mr. Shrinal P Patel (DIN – 02992519) as Whole Time Director for a term of five consecutive years commencing from February 01, 2026 to January 31, 2031. His remuneration structure includes up to 5% of the company's net profit computed under Section 198 of the Companies Act, 2013, with a minimum remuneration of up to INR 4,00,000 per month in case of no profit or inadequacy of profit.

Re-appointment of Mr. Piyushbhai Natvarlal Patel as Managing Director

Mr. Piyushbhai Natvarlal Patel (DIN – 00450807) is proposed for re-appointment as Managing Director for five consecutive years from June 01, 2026 till May 31, 2031. His remuneration follows a similar structure with up to 5% of net profits and minimum monthly remuneration of up to INR 5,00,000 in cases of no profit or inadequacy of profit.

Company Performance and Justification

The explanatory statement reveals the company's financial performance over recent years:

For Mr. Piyushbhai Natvarlal Patel's re-appointment, the board has provided specific justification as he has attained 70 years of age. The board emphasizes his association with the company since incorporation, his role as a promoter, and his pivotal contribution to the company's growth, profitability, and strategic direction.

E-voting Process and Compliance

The company has engaged Central Depository Services (India) Limited (CDSL) to facilitate the remote e-voting process. CS Kunal Sharma, Proprietor of M/s Kunal Sharma & Associates, has been appointed as the Scrutinizer to conduct the postal ballot in a fair and transparent manner.

Shareholders whose email addresses are registered with the company, depositories, or the registrar and transfer agent will receive the postal ballot notice electronically. The voting process will be conducted exclusively through remote e-voting, with no physical ballot forms being dispatched. The advertisements may also be accessed on the company's website at www.ishandyes.com .

Source: None/Company/INE561M01018/9fef773f-799d-43be-910b-863476f96dd3.pdf

Ishan dyes & chemicals Limited has successfully completed the allotment of 7,40,700 fully paid-up equity shares following the conversion of convertible equity warrants by a promoter. The Board of Directors approved this allotment at their meeting held on Saturday, 28th March 2026, marking a significant step in the company's capital structure enhancement.

Warrant Conversion Details

The allotment follows the exercise of conversion rights by promoter Piyushbhai Natvarlal Patel, who converted 7,40,700 warrants into an equal number of equity shares. The conversion was executed at an issue price of ₹63 per share, with the warrant holder paying the balance 75% of the issue price amounting to ₹3,49,98,075.

Impact on Share Capital

The allotment has resulted in an increase in the company's paid-up equity share capital. The newly issued equity shares carry a face value of ₹10 each and will rank pari-passu with existing equity shares in all respects.

Outstanding Warrants Position

The company had originally allotted 45,84,872 convertible equity warrants on a preferential basis on 20th September 2025. Following this conversion, a substantial number of warrants remain available for future conversion by 20th March 2027.

The remaining warrant holders are entitled to convert their warrants into equity shares by paying the remaining 75% amount within 18 months from the original allotment date of 20th September 2025.

Regulatory Compliance and Board Meeting

The allotment was conducted in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company formally communicated the outcome to both BSE Limited (Scrip Code: 531109) and National Stock Exchange of India Limited (Symbol: ISHANCH) as required under regulatory guidelines.

The company will apply for listing and trading approval from stock exchanges for the newly allotted equity shares in due course. The Board meeting was conducted with proper regulatory disclosures being made to ensure transparency and compliance with listing obligations.