Modulex Construction Technologies Limited has successfully completed its postal ballot process, with shareholders providing overwhelming approval for a key leadership designation change. The company announced the voting results on 16th March, 2026, following the conclusion of the remote e-voting period.

Designation Change Details

The postal ballot sought shareholder approval for the change in designation of Mr. Jayesh Sheth (DIN: 03506031) from Executive Director - Finance to Joint Managing Director of the company. The designation change became effective from 11th February, 2026, as disclosed in the company's regulatory filing to BSE Limited.

Postal Ballot Process Overview

The postal ballot, dated 11th February, 2026, was conducted entirely through electronic means. The remote e-voting period commenced at 09.00 a.m. (IST) on Saturday, 14th February, 2026 and concluded at 05.00 p.m. (IST) on Sunday, 15th March, 2026.

Voting Results and Shareholder Participation

The special resolution received exceptional support from shareholders across all categories. The voting results demonstrate strong confidence in the proposed leadership change.

Resolution Details and Compliance

The resolution for Mr. Jayesh Sheth's designation change was classified as a special resolution under Section 152 and other applicable provisions of the Companies Act, 2013. The company had initially disclosed the relevant details at the Board Meeting held on 11th February, 2026, as required under Regulation 30 of SEBI Listing Regulations.

Regulatory Disclosure and Transparency

CS Dharmesh M. Zaveri, the appointed scrutinizer, confirmed that the resolution was passed with the requisite majority as per the Companies Act, 2013 provisions. The company has disclosed the voting results and scrutinizer's report to BSE Limited under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The voting results and scrutinizer's report have been made available on the company's website at www.modulex.in and on CDSL's e-voting portal at www.evotingindia.com , ensuring transparency and accessibility for all stakeholders.

Modulex Construction Technologies Limited has issued a postal ballot notice seeking shareholder approval for a key leadership appointment, with electronic voting scheduled to commence shortly.

Postal Ballot Details and Timeline

The company issued the postal ballot notice on February 11, 2026, pursuant to Regulation 30 of the SEBI Listing Regulations. The notice has been sent electronically to members whose names appear in the Register of Members as on the cut-off date of February 6, 2026.

Proposed Appointment of Joint Managing Director

The special resolution seeks approval for the change in designation of Mr. Jayesh Sheth (DIN: 03506031) from Executive Director-Finance to Joint Managing Director. The Board of Directors, based on the recommendation of the Nomination and Remuneration Committee, approved this change at their meeting held on February 11, 2026.

Key Appointment Details

Professional Background and Experience

Mr. Jayesh Sheth is a Chartered Accountant with 39 years of extensive experience across multiple industries. His expertise spans Manufacturing, Marketing, Trading, and Service-oriented companies, with particular strength in heading Profit Center operations with ROI accountability.

Industry Experience:

• Construction, FMCG, Pharmaceuticals
• Computer Peripherals & Microchip dealings
• Retail, Media, Textiles, E-commerce
• Chemicals and Material Handling & Storage Systems

Core Competencies:

• International & Domestic Business Development
• New Project conceptualizing and Implementation
• Group Planning and Strategy
• Team building and organizational development

Remuneration and Benefits Structure

The proposed remuneration package includes a comprehensive benefits structure designed to align with industry standards and the company's operational requirements.

Financial Compensation:

• Base salary: Rs. 72,00,000 per annum
• Previous remuneration (April 15, 2025 to January 31, 2026): Rs. 47,66,667

Additional Benefits:

• Transportation and conveyance facilities
• Telecommunication facilities
• Leave encashment and gratuity as per company rules
• Medical expenses reimbursement for self and family
• Personal accident and medical insurance
• Business-related expense reimbursements

Company Financial Performance

The explanatory statement provides context regarding the company's recent financial performance, highlighting the nature of the modular construction business.

E-voting Process and Shareholder Information

The company has made arrangements with CDSL to facilitate remote e-voting for all eligible shareholders. Members holding shares in both physical and demat mode can participate in the voting process through the designated e-voting platform.

Voting Eligibility:

• Members registered as on cut-off date: February 6, 2026
• Electronic voting only through CDSL platform
• Results to be displayed on company website and CDSL portal

The postal ballot notice emphasizes that this appointment requires special resolution approval from shareholders, reflecting the significance of the leadership change for the company's strategic direction in the modular construction sector.