Likhitha Infrastructure Limited has submitted the voting results and scrutinizer report for its 27th Annual General Meeting held on September 28, 2026. All resolutions proposed in the notice were passed with the requisite majority, confirming the adoption of FY26 financial statements and director re-appointments.

The meeting was conducted through Video Conferencing and Other Audio-Visual Means in compliance with regulatory guidelines. The submission to stock exchanges on September 30, 2026, details the specific vote counts for each agenda item, distinguishing between promoter and public shareholder participation.

Key Proceedings

The meeting commenced at 12:22 pm and concluded at 1:11 pm. It was attended by 38 members, both physically as panellists and through video conference. The requisite quorum was present, allowing the proceedings to proceed smoothly.

Directors Present

The following directors participated in person:

Directors participating via Video Conferencing included Chairman Sivasankara Parameswara Kurup Pillai, Non-Executive Director Sri Lakshmi Gaddipati, and Independent Director Jayashree Voruganty.

Voting Results Breakdown

The scrutinizer’s report confirms that all resolutions were passed. For Resolution 1, regarding the adoption of Audited Financial Statements (Standalone and Consolidated) for FY26, the resolution received overwhelming support.

Resolution 1: Adoption of FY26 Financial Statements

Note: Promoter votes are included in the total count for this resolution as they were not deemed interested parties for this specific item.

For Resolution 2, concerning the re-appointment of Sri Lakshmi Gaddipati (DIN: 02250598) who retired by rotation, the voting pattern differed due to interest restrictions.

Resolution 2: Re-appointment of Sri Lakshmi Gaddipati

Note: Votes cast by Promoter Shareholders were excluded from tabulation for this resolution as they are interested parties.

Governance and Compliance

The Company Secretary informed members that the AGM was held in accordance with the Companies Act, 2013, and circulars issued by the Ministry of Corporate Affairs and SEBI. Electronic voting facilities were provided through Bigshare Services Private Limited's Insta Poll system.

VCAN & Associates, Practicing Company Secretaries, served as the scrutinizer for the e-voting process. Santhosh Kumar Gunemoni, Partner at VCAN & Associates, signed the report confirming fair and transparent conduct. The Annual Report for FY26, including Board and Auditor reports, was taken as read during the session.

Likhitha Infrastructure Limited has approved the incorporation of a wholly owned subsidiary in Abu Dhabi, United Arab Emirates, alongside a strategic increase in its ownership stake in Likhitha HAK Arabia Contracting Company.

The board meeting held on September 28, 2026, authorized the acquisition of an additional 30% shareholding in Likhitha HAK Arabia from Arabian HAK Company Ltd. This transaction will raise the company's holding in the Saudi-based entity from 60% to 90%, consolidating control over its operations in the Kingdom of Saudi Arabia.

Strategic Expansion in the Middle East

The newly formed entity, tentatively named Likhitha Infrastructure Middle East LLC, will operate as a wholly owned subsidiary. It is slated to engage in oil and gas pipeline engineering, procurement, and construction (EPC) infrastructure contracting. The subscription to the share capital for this new entity will be made in cash.

Simultaneously, the acquisition of the additional 30% stake in Likhitha HAK Arabia is intended to strengthen the company's presence and business operations in Saudi Arabia. The deal involves the purchase of 150 equity shares, representing 30% of the paid-up equity share capital. The aggregate consideration for this acquisition is capped at SAR 525,000, subject to applicable valuation requirements and definitive contractual agreements.

Target Entity Financial Profile

Likhitha HAK Arabia Contracting Company was incorporated on December 10, 2022, in Al Khobar, Kingdom of Saudi Arabia. It is engaged in Oil & Gas EPC services, including pipelines, refineries, and oil wells. The following table details the financial and structural specifics of the target entity:

Regulatory and Transactional Details

The proposed acquisition does not constitute a related party transaction, as Arabian HAK Company Ltd is not a related party of Likhitha Infrastructure or its subsidiaries. The promoter group holds no interest in the target entity, and the transaction is being undertaken on an arm's length basis. No specific governmental or regulatory approvals are required beyond standard procedural compliances.

The indicative time period for the completion of the acquisition is six months. Upon completion, the company's shareholding in Likhitha HAK Arabia will stand at 90%, while the remaining 10% will be held by other shareholders.

What the Numbers Show

A notable divergence exists between the capital structure and the operational performance of Likhitha HAK Arabia. While the paid-up capital stands at SAR 500,000, the entity has reported nil turnover for the last three fiscal years (FY24, FY25, and FY26). This suggests that the acquisition of the additional 30% stake is likely a strategic move to secure future project execution capabilities or consolidate control over a dormant or early-stage vehicle rather than acquiring immediate revenue streams.