Minda Corporation Limited successfully concluded its postal ballot process on March 16, 2026, with shareholders demonstrating strong support for the company's Employee Stock Option Scheme initiatives. The company announced the results of e-voting for four special resolutions, all of which received the requisite majority approval from shareholders.

Postal Ballot Process and Timeline

The postal ballot notice was dispatched to shareholders on February 12, 2026, following the board resolution passed on February 05, 2026. The e-voting period commenced on February 14, 2026, at 9:00 AM IST and concluded on March 15, 2026, at 5:00 PM IST. The voting process was conducted entirely through electronic means, with National Securities Depository Limited (NSDL) serving as the e-voting service provider.

Resolution Details and Voting Results

Shareholders voted on four special resolutions, all related to Employee Stock Option Schemes. The voting participation was robust, with 90.3767% of outstanding shares participating in the e-voting process across all resolutions.

Resolution 1: Amendment of Existing ESOP Scheme

The first resolution sought approval for amending the Employee Stock Option Scheme 2017 and transferring unallocated equity shares to the new Minda Employee Stock Option Scheme 2025. This resolution received the highest approval rate among all four resolutions.

Resolution 2: New ESOP 2025 Scheme

The second resolution focused on considering and approving the new Minda Employee Stock Option Scheme 2025. Despite facing relatively higher opposition compared to the first resolution, it still achieved substantial majority approval.

Resolution 3: ESOP for Subsidiary Companies

The third resolution addressed granting Employee Stock Options to employees of subsidiary companies under the Minda Employee Stock Option Scheme 2025. The voting pattern closely mirrored that of Resolution 2.

Resolution 4: ESOP for Group and Associate Companies

The fourth resolution sought approval for granting Employee Stock Options to employees of group companies, including associate companies, under the new scheme. While it received the lowest approval percentage among the four resolutions, it still achieved a comfortable majority.

Shareholder Category Analysis

The voting results revealed strong support from the promoter and promoter group, who voted 100% in favour of all four resolutions. Public institutional investors showed varying levels of support across the resolutions, while public non-institutional investors demonstrated mixed voting patterns, particularly for the later resolutions.

Scrutinizer's Certification

Biswajit Ghosh, Designated Partner of BMP & Co. LLP, served as the scrutinizer for the postal ballot process. The scrutinizer's report confirmed that all four resolutions were passed with the requisite majority, and the voting process was conducted in a fair and transparent manner. The results and scrutinizer's report are available on the company's website at www.sparkminda.com .

Minda Corporation Limited has announced a revision in the maturity and record dates for its Commercial Paper due to a bank holiday falling on the originally scheduled redemption date. The company communicated this change to the National Stock Exchange and BSE Limited on March 13, 2026.

Reason for Date Revision

The revision stems from a bank holiday on March 19, 2026, on account of Gudhi Padwa. According to FIMMDA guidelines, when a bank holiday occurs on the scheduled maturity date, the Commercial Paper redemption must be completed one working day prior to avoid any settlement issues.

Revised Commercial Paper Details

The updated information for the Commercial Paper is as follows:

Regulatory Compliance

This revision has been made in accordance with SEBI Circular No. SEBI/HO/DDHS/PoD1/P/CIR/2024/54 dated May 22, 2024. The company had previously communicated the original dates through an intimation letter dated February 24, 2026.

Company Information

The communication was signed by Pardeep Mann, Company Secretary (Membership No. A13371), on behalf of Minda Corporation Limited. The company operates from its Group Corporate Office located at D-6-11, Sector 59, Noida, with its registered office at A-15, Ashok Vihar, Phase-I, Delhi.