Pidilite Industries Limited has successfully concluded its postal ballot process, with shareholders overwhelmingly approving the appointment of Dr. Naushad Forbes as an Independent Director. The company announced the results on March 13, 2026, following the completion of the e-voting period on March 12, 2026.

Postal Ballot Results Overview

The special resolution for Dr. Naushad Forbes' appointment (DIN: 00630825) received strong shareholder support across all categories. The voting process was conducted entirely through electronic means, with no physical postal ballots or poll voting.

Detailed Voting Results

The resolution achieved remarkable consensus among shareholders, with 98.40% voting in favor and only 1.60% against the appointment.

Category-wise Participation

The voting saw strong participation across different shareholder categories, with promoters showing complete support for the resolution.

Regulatory Compliance

The postal ballot process was conducted in accordance with Section 110 of the Companies Act, 2013, and Regulation 44 of the SEBI Listing Regulations. The company utilized the e-voting facility provided by National Securities Depository Limited (NSDL) for the remote voting process.

Scrutinizer Mitesh Dhabliwala of Parikh & Associates, Practising Company Secretaries, oversaw the entire process and submitted his report confirming the validity of the results. The voting results and scrutinizer's report have been made available on the company's website and NSDL's e-voting portal.

Process Timeline

The postal ballot notice was issued on February 9, 2026, with the e-voting period commencing on February 11, 2026, at 9:00 AM IST and concluding on March 12, 2026, at 5:00 PM IST. The resolution is deemed to have been approved on March 12, 2026, the last date of the e-voting period.

With this approval, Dr. Naushad Forbes will join the company's board as an Independent Director, subject to the completion of other regulatory formalities. The overwhelming shareholder support demonstrates confidence in the proposed appointment and the company's governance structure.

Pidilite Industries Limited has informed stock exchanges about receiving GST penalty orders from tax authorities, totaling ₹42.31 lakh for two financial years. The company disclosed this development through a regulatory filing under SEBI regulations on March 9, 2026.

GST Penalty Details

The company received Orders-in-Appeal dated March 5, 2026, which were received on the GST Portal on the same date from the Deputy Commissioner of State Tax, Appeal, MUM-APP-E-0401, Mazgaon Division Nodal-04, Mumbai. The penalties were imposed under applicable provisions of the Central Goods and Services Tax Act.

Company's Response and Next Steps

Pidilite Industries has clarified that the orders are appealable and the company is currently reviewing them to evaluate the next steps in the matter. The company stated it will make an assessment to exercise its right to appeal to the highest authority as permitted in law.

The company has emphasized that there is no material impact on its financials, operations, or other activities resulting from these penalty orders.

Regulatory Compliance

The disclosure was made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company filed the intimation at the earliest opportunity upon examining the orders and ascertaining full facts. The information has also been hosted on the company's website at www.pidilite.com for public access.