Pradeep Metals Limited has successfully concluded its postal ballot process, announcing the voting results for two critical special resolutions on March 23, 2026. The company, a manufacturer of precision closed die forgings, conducted the entire voting process through remote e-voting in compliance with regulatory requirements under Regulation 30 & 44(3) of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015.

Postal Ballot Overview

The postal ballot notice was dated February 7, 2026, with the record date set for February 13, 2026. The remote e-voting period commenced on February 20, 2026, at 9:00 AM and concluded on March 21, 2026, at 5:00 PM. The company had 5,960 total shareholders on the record date, with the postal ballot notice dispatched to 4,922 members who had registered their email addresses.

Special Resolutions and Voting Results

The company sought shareholder approval for two special resolutions, both related to financial restructuring and expansion capabilities. The first resolution concerned authority for borrowing monies in excess of paid-up capital and free reserves up to Rs. 350 crores. The second resolution sought authority for creation of charges/mortgages on company properties for an amount not exceeding Rs. 350 crores.

Shareholder Participation Analysis

The voting results demonstrated strong participation across different shareholder categories. Out of the total 1,72,70,000 shares, 1,36,24,971 shares participated in the voting process, representing 78.89% of the outstanding shares. The promoter and promoter group showed complete participation with 100% of their 1,26,90,783 shares being voted, all in favor of both resolutions.

Public non-institutional shareholders held 45,79,217 shares, with 9,34,188 shares participating in the voting process, representing 20.40% participation from this category. Notably, 9,33,946 shares from this category voted in favor while only 242 shares voted against both resolutions.

Scrutinizer's Report and Compliance

Shweta Gokarn & Co., Company Secretaries, served as the scrutinizer for the postal ballot process. The scrutinizer confirmed that the voting process was conducted in a fair and transparent manner, with all regulatory requirements under the Companies Act, 2013, and SEBI regulations being properly followed. The company utilized National Securities Depository Limited (NSDL) as the agency for providing the remote e-voting platform.

The scrutinizer's report highlighted that the entire voting process was conducted electronically, with no physical postal ballot forms being dispatched in accordance with MCA circulars. The results were generated from NSDL's e-voting website and verified in the presence of independent witnesses including Ms. Tanya Vaz, Ms. Sakshee Tarade, and Mr. Pradeep Goyal, Chairman.

Strategic Implications

The overwhelming approval of both resolutions provides Pradeep Metals Limited with enhanced financial flexibility for its business operations and expansion plans. The authority to borrow up to Rs. 350 crores beyond paid-up capital and free reserves, coupled with the ability to create charges on company properties for the same amount, positions the company to pursue growth opportunities and meet working capital requirements more effectively.

The high approval rate of 99.99% for both resolutions reflects strong shareholder confidence in the company's management and strategic direction. Company Secretary Abhishek Joshi confirmed that the results and scrutinizer's report have been uploaded on both the company's website and NSDL's platform for transparency and regulatory compliance.

Pradeep Metals Limited, a manufacturer of precision closed die forgings, has announced a postal ballot seeking shareholder approval to significantly enhance its borrowing capacity and charge creation authority. The company issued the postal ballot notice on February 7, 2026, proposing to increase these financial powers from ₹180 crores to ₹350 crores.

Key Resolutions for Shareholder Approval

The postal ballot encompasses two critical special resolutions that require shareholder consent:

These resolutions represent a substantial increase from the existing borrowing limits of ₹180 crores, which were previously approved by shareholders through postal ballot on September 14, 2015.

E-Voting Timeline and Process

The company has established a comprehensive timeline for the postal ballot process, utilizing electronic voting exclusively:

The postal ballot notice is being distributed exclusively through electronic mode to shareholders whose email addresses are registered with the company, registrar and transfer agent, or depositories as of the cut-off date.

Board Approval and Business Rationale

The Board of Directors approved this proposal during their meeting held on January 30, 2026. The explanatory statement accompanying the postal ballot indicates that this increase in borrowing powers is intended to meet the growing business needs of the company. The enhanced financial flexibility will enable the board to borrow funds from time to time, subject to the maximum limit of ₹350 crores at any given time.

Regulatory Compliance and Disclosure

The postal ballot has been issued in compliance with Section 108, 110 and other applicable provisions of the Companies Act, 2013, along with the Companies (Management and Administration) Rules, 2014, and SEBI Listing Regulations. The company has engaged National Securities Depository Limited (NSDL) as the agency to provide e-voting facility to shareholders.

The company will publish details of this postal ballot in "Financial Express" and "Lakshdeep" newspapers in English and Marathi languages respectively on February 19, 2026, as required by regulatory provisions.

Voting Rights and Eligibility

Voting rights will be calculated based on the paid-up value of shares registered in shareholders' names as on February 13, 2026. The results will be displayed on the company's website at www.pradeepmetals.com and communicated to stock exchanges and depositories. Corporate and institutional members are required to submit relevant board resolutions or authorization documents to participate in the voting process.