Qualitek Labs Limited shareholders adopted the audited standalone and consolidated financial statements for FY26 during the company's 8th Annual General Meeting held on September 25, 2026.

The meeting, chaired by Managing Director and CEO Antaryami Nayak, also saw the re-appointment of Nayak, who retired by rotation and was eligible for re-election. The proceedings took place at Avanta Business Centre in New Delhi, with remote e-voting facilities provided to eligible members between September 22 and September 24, 2026.

Key resolutions passed

The members considered and passed three primary items of business as ordinary resolutions. The scrutinizer's report confirmed that all resolutions were passed with requisite majority.

Meeting details and governance

The AGM commenced at 11:30 am and concluded at 1:30 pm. CS Ronak Jhuthawat of M/s Ronak Jhuthawat & Co. was appointed as the scrutinizer to oversee the voting process. The cut-off date for determining eligibility for remote e-voting was September 18, 2026.

The company stated that the voting results and the scrutinizer's report would be submitted to the stock exchange within the prescribed time under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The summary of proceedings confirms that all proposed resolutions were approved by the shareholders present.

What the Numbers Show

The detailed voting results reveal a distinct pattern regarding shareholder participation and conflict of interest protocols. For the first two resolutions—adoption of financial statements and re-appointment of the MD—the promoter group cast 70,78,778 votes in favour, accounting for nearly 93% of the total valid votes polled. No votes were cast against these items.

However, for the third resolution concerning material related party transactions for FY27, the promoter group abstained from voting entirely. This is consistent with regulatory requirements where interested parties do not vote on matters where they have a direct interest. Consequently, the approval for this resolution relied solely on the votes of public shareholders, who cast 5,00,400 votes in favour out of the total valid votes polled for this item. This highlights that while the promoter group holds a significant majority stake (holding 65,78,379 shares), their influence was structurally removed from the decision-making process for related-party approvals, ensuring independent shareholder consent.

Qualitek Labs has issued the formal notice for an Extra-Ordinary General Meeting (EGM) scheduled for October 16, 2026, to seek shareholder approval for a preferential issue aggregating approximately ₹47 crore.

The Board of Directors convened on Tuesday, September 22, 2026, to evaluate and approve these capital infusion proposals under the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The meeting commenced at 4:30 pm and concluded at 8:30 pm.

Preferential Issue Details

The company will issue up to 3,86,000 fully paid-up equity shares of face value ₹10 each at an issue price of ₹518.55 per share, including a premium of ₹508.55. This tranche aggregates to an amount up to ₹20,01,60,300.

Additionally, the board approved the issuance of up to 5,20,000 fully convertible warrants, each carrying the right to subscribe to one equity share. These warrants are also priced at ₹518.55 each, aggregating to an amount up to ₹26,96,46,000. The consideration for both instruments is cash.

Allottee Structure and Substitution

The equity shares are proposed to be allotted to 26 investors, primarily in the non-promoter category, with Ashish Rameshchandra Kacholia receiving the largest allocation of 1,73,200 shares. Kamal Grover, a promoter, is allocated 1,200 shares.

The entire tranche of 5,20,000 warrants is proposed to be allotted to TIC Services Private Limited, which falls under the promoter group category. The warrants have a tenor of 18 months from the date of allotment. Subscription requires 25% payment at allotment, with the remaining 75% payable upon exercise.

In a subsequent development on September 23, 2026, the Preferential Issue Committee approved the substitution of one proposed allottee for equity shares. Vibha Singhi (Non-Promoter), originally allocated 16,000 shares, has been replaced by Jagattaraini Tieup Private Limited (Non-Promoter) for the same quantity of 16,000 shares. All other terms and conditions remain unchanged.

Shareholder Approval and Timeline

The preferential issues are subject to the approval of shareholders. The board decided to convene an Extra-Ordinary General Meeting on Friday, October 16, 2026, to seek this consent. The draft notice for the meeting has been approved.

EGM Logistics and Voting Schedule

The EGM will be held virtually through Video Conferencing/Other Audio-Visual Means at 12:30 pm. Pursuant to Section 108 of the Companies Act, 2013, members can cast votes via remote e-voting. The schedule for voting is as follows:

Regulatory Compliance and Trading Window

Pursuant to Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the exchange was notified of the meeting. A trading window remained closed for designated persons, including directors, promoters, and their immediate relatives, from September 17, 2026, until 48 hours after the conclusion of the board meeting, extending through September 24, 2026.

The notice of the meeting is available on the company’s website and the BSE portal. Antaryambhiksha, Managing Director, signed the intimation.