Neptune Logitek Limited shareholders approved all four resolutions passed during its 14th Annual General Meeting held on September 21, 2026. The voting results, declared on September 23, 2026, show 100% support for the adoption of FY26 audited accounts and the appointment of a new independent director.

The meeting took place in Gandhidham, Gujarat, presided over by Chairman and Managing Director Ankit Devidas Shah. Remote e-voting was conducted from September 17 to September 20, 2026, with the poll concluded on the day of the AGM. M/s. Dixit Shah and Associates served as the scrutinizer for the process under Section 109 of the Companies Act, 2013.

Resolution Voting Breakdown

Shareholders voted on two ordinary and two special business items. All resolutions were passed with no votes cast against them. The table below summarizes the voting outcomes:

The reappointment of Ankit Devidas Shah as a director liable to retire by rotation received 36,92,005 votes in favour from 16 members. The appointment of Rushabh Anilkumar Shah as a Non-Executive Independent Director secured 1,01,07,000 votes in favour from 17 members.

Procedural Details and Audit Observations

The company utilized CDSL’s remote e-voting facility, where votes cast electronically took precedence over polling paper votes if both were submitted by the same member. The scrutinizer reported that there were no incomplete or defective poll papers. Invalid votes were minimal, totaling 1,000 votes for three resolutions and 64,15,995 votes for the director reappointment resolution, likely due to procedural errors or ineligible shares.

Ankit Devidas Shah informed members that the Statutory Auditor provided no qualifications or modified opinions on the financial statements for the fiscal year ended March 31, 2026. However, observations from the Secretarial Auditor were read out, along with the Board’s comments regarding their implications. 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.