Neptune Logitek Limited shareholders approved the company’s audited financial statements for the fiscal year ended March 31, 2026, during its 14th Annual General Meeting. The meeting, held in Gandhidham, Gujarat, also saw the appointment of a new independent director and amendments to the company’s memorandum of association.

The Neptune Logitek AGM commenced at 3:30 pm and concluded at 3:50 pm on September 21, 2026. Ankit Devidas Shah, Chairman and Managing Director, presided over the proceedings after confirming the requisite quorum.

Key Resolutions Passed

Shareholders passed four resolutions during the meeting. The ordinary business items included the adoption of the audited accounts for FY26 and the reappointment of Ankit Devidas Shah as a director liable to retire by rotation.

Under special business, members approved the appointment of Rushabh Anilkumar Shah as a Non-Executive Independent Director. Additionally, shareholders authorized an addition to the object clause of the Memorandum of Association.

Voting and Audit Observations

The company utilized CDSL’s remote e-voting facility from September 17 to September 20, 2026. Votes cast via remote e-voting took precedence over polling paper votes if both were submitted by the same member. M/s. Dixit Shah and Associates served as the scrutinizer for the voting process under Section 109 of the Companies Act, 2013.

Ankit Devidas Shah informed members that the Statutory Auditor provided no qualifications or modified opinions on the financial statements. However, observations from the Secretarial Auditor were read out, along with the Board’s comments and explanations regarding their implications on the financial statements.

The Chairman also elaborated on the company’s financial performance for the year, though specific revenue or profit figures were not detailed in the proceedings summary.

Neptune Logitek Ltd has acquired a 100% stake in Neptune Cargo Services Private Limited to expand its logistics operations. The transaction was completed on September 16, 2026.

Neptune Logitek acquired the target entity at face value. The company disclosed the acquisition under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Transaction Details

The listed entity acquired 1,00,000 equity shares of Rs. 10 each. This represents the entire paid-up equity share capital of the target company. The consideration was paid in cash or bank transfer.

Strategic Rationale

The acquisition aligns with the company's strategy to invest in the logistics business. Neptune Cargo Services is a newly incorporated entity. It will provide freight forwarding services through sea, rail, and road networks.

Corporate Governance

The transaction is classified as a related-party transaction. Neptune Cargo Services becomes a wholly owned subsidiary of the listed entity. The following directors of Neptune Logitek also serve as directors in the acquired company:

• Mr. Ankit Devidas Shah
• Mrs. Reema Ankit Shah
• Mr. Nikunj Dhansukhbhai Damani

The company stated that the transaction was conducted on an arm's length basis. No governmental or regulatory approvals were required for this acquisition.