Nelco Ltd shareholders have approved four resolutions through a remote e-voting process, including the creation of charges on assets, enhancement of borrowing limits, and the issuance of non-convertible debentures. The postal ballot, which concluded on June 13, 2026, also sanctioned material related party transactions with Tata Capital Limited. All resolutions were passed with the requisite majority, enabling the company to proceed with its proposed financial and structural changes.

The remote e-voting process commenced on May 15, 2026, and concluded on June 13, 2026, at 5:00 p.m. IST. A total of 73,864 shareholders were eligible to vote as on the cut-off date of May 1, 2026. The scrutinizer, Mitesh Dhaliwala of Parikh & Associates, verified the voting results submitted via the NSDL e-voting system.

Voting Results Summary

The resolutions sought approval for the creation of charges on assets under Section 180(1)(a) of the Companies Act, 2013, and the enhancement of overall borrowing limits under Section 180(1)(c). Additionally, shareholders voted on the issue of non-convertible debentures on a private placement basis and material related party transactions with Tata Capital Limited.

Detailed Voting Breakdown

For the special resolution regarding the creation of charges on assets, 413 members voted in favour, representing 12,511,751 shares, while 17 members voted against with 9,338 shares. The resolution to enhance borrowing limits saw 410 members vote in favour with 12,511,697 shares, against 19 members holding 9,092 shares.

The issuance of non-convertible debentures was approved by 407 members holding 12,510,894 shares, with 22 members opposing the resolution with 9,895 shares. The ordinary resolution for material related party transactions with Tata Capital Limited received approval from 414 members holding 1,100,643 shares, while 13 members voted against with 1,056 shares. There were 1,000 invalid votes recorded for this resolution.

The results were disclosed in compliance with Regulation 44 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015. The detailed scrutinizer's report and voting results are available on the company's website and the NSDL e-voting portal.

Nelco Limited will hold its 83rd Annual General Meeting (AGM) on Wednesday, 24 June 2026, at 3:30 p.m. IST via video conferencing. The meeting will transact ordinary business, including the adoption of audited financial statements for the financial year ended 31 March 2026 and the declaration of a dividend. Shareholders will also consider the ratification of the Cost Auditor's remuneration and the re-appointment of a director.

The Board of Directors has recommended a dividend of ₹1 per equity share of ₹10, subject to the deduction of tax at source. If declared at the AGM, the dividend will be paid on or after Friday, 26 June 2026. The Register of Members and Share Transfer Books will remain closed from Wednesday, 10 June 2026 to Tuesday, 16 June 2026, with the record date set for Tuesday, 9 June 2026.

Special Business

The AGM includes special business regarding the ratification of the Cost Auditor's remuneration. The Board has approved the appointment of P. D. Dani & Associates, Cost Accountants, to conduct the audit of cost records for FY2025-26. The remuneration proposed is ₹1,25,000 plus GST and reimbursement of out-of-pocket expenses on an actual basis.

Shareholders will also consider the re-appointment of Mr. A. S. Lakshminarayanan (DIN 08616830), who retires by rotation and is eligible for re-appointment. Mr. Lakshminarayanan serves as the Non-Executive Chairman of the company.

E-Voting and Participation

Remote e-voting facilities will be available to members from Friday, 19 June 2026 at 9:00 a.m. IST to Tuesday, 23 June 2026 at 5:00 p.m. IST. Members holding shares as on the cut-off date of Wednesday, 17 June 2026 are eligible to vote. The facility for remote e-voting during the AGM will also be available for members participating through video conferencing.

The following table outlines the key AGM dates: