Rhetan TMT Limited has successfully concluded its postal ballot process, with shareholders decisively approving a special resolution to alter the Object Clause of the company's Memorandum of Association. The voting process concluded on March 18, 2026, demonstrating strong shareholder support for expanding the company's business scope into commodity trading operations.

New Business Object Details

The approved resolution involves insertion of a new object clause in the Main Object Clause of the Memorandum of Association. The company has added Clause no. III [A] (5) to enable comprehensive commodity trading operations.

The new object specifically authorizes the company to carry on business of trading, buying, selling, importing, exporting, investing in, arbitraging, hedging and dealing in commodities including metals (precious and base), bullion, minerals, energy products, soft commodities, hard commodities and allied products through spot, forward, futures, options and other derivative contracts.

Voting Results Overview

The postal ballot results revealed overwhelming shareholder approval for the proposed amendment. The comprehensive voting data showcases broad-based support across all shareholder categories.

Category-wise Participation

The voting process witnessed participation from all major shareholder categories, with promoters showing complete support for the resolution.

Promoter and Promoter Group

• Shares Held: 495000000
• Votes Polled: 495000000 (100% participation)
• Support: 495000000 votes in favor (100%)
• Opposition: 0 votes against

Public Institutions

• Shares Held: 8105156
• Votes Polled: 195132 (2.41% participation)
• Support: 195132 votes in favor (100%)
• Opposition: 0 votes against

Public Non-Institutions

• Shares Held: 293769844
• Votes Polled: 46867863 (15.95% participation)
• Support: 46867113 votes in favor (99.9984%)
• Opposition: 750 votes against (0.0016%)

Regulatory Compliance and Process

The postal ballot was conducted in accordance with Sections 108 and 110 of the Companies Act, 2013, and Regulation 44 of SEBI Listing Regulations. The disclosure has been made under Regulation 30 and Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Managing Director Shalin A. Shah has formally communicated the approval to BSE Limited and National Stock Exchange of India Limited, ensuring compliance with listing obligations. The successful approval reflects strong shareholder confidence in the company's strategic diversification into commodity trading operations.

Rhetan TMT Limited announced its unaudited financial results for the quarter ended December 31, 2025, and issued a comprehensive postal ballot notice dated February 12, 2026, for seeking shareholder approval for Memorandum of Association amendment. The TMT bar manufacturing company reported strong quarterly performance while simultaneously initiating strategic business expansion into commodities trading through regulatory compliance procedures.

Board Meeting Outcomes and Postal Ballot Notice

The Board of Directors meeting was conducted on February 12, 2026, from 03:30 PM to 04:00 PM at the company's registered office. The Board approved the unaudited financial results for the quarter and nine months ended December 31, 2025, under Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Subsequently, the company issued a formal postal ballot notice on February 16, 2026, to BSE Limited and National Stock Exchange of India Limited under Regulation 30.

Financial Performance for Q3FY26

The company delivered robust financial results for the third quarter. Revenue from operations stood at ₹615.48 lakh, while other income contributed significantly at ₹317.24 lakh, bringing total income to ₹932.72 lakh for the quarter. Net profit reached ₹444.78 lakh, representing a substantial increase from ₹139.05 lakh in the corresponding quarter of the previous year.

MOA Amendment for Commodities Trading Business

The postal ballot notice seeks shareholder approval for alteration in the Main Object Clause III [A] of Memorandum of Association by adding sub clause 5. The new object clause will enable the company to carry on the business of trading, buying, selling, importing, exporting, investing in, arbitraging, hedging and otherwise dealing in commodities of every kind and description, permitted by law. The scope includes agricultural and non-agricultural commodities, metals (precious and base), bullion, minerals, energy products, soft commodities, hard commodities and allied products, in physical form and through spot, forward, futures, options and other derivative contracts.

E-Voting Schedule and Process

The company has established a comprehensive e-voting process through Central Depository Services (India) Limited (CDSL) for the postal ballot. Mr. Chintan K. Patel, Practicing Company Secretary from Ahmedabad (Membership No. A31987; COP No: 11959), has been appointed as Scrutinizer for conducting the postal ballot through remote e-voting process in a fair and transparent manner.

Nine-Month Performance and Regulatory Compliance

For the nine months ended December 31, 2025, the company reported revenue from operations of ₹1594.81 lakh compared to ₹3067.44 lakh in the corresponding period of the previous year. Despite lower revenue, the net profit for the nine-month period reached ₹807.93 lakh, representing a substantial increase from ₹446.55 lakh in the previous year. The company has fulfilled all regulatory obligations by publishing financial results advertisement in newspapers as per Regulation 47(1)(b) and 47(3) of SEBI LODR Regulations, 2015.

The postal ballot notice has been sent to all members whose email addresses are registered with the Company, Registrar and Share Transfer Agent, or Depository Participants. The company continues to operate as a single-segment company focused on manufacturing TMT bars while exploring strategic expansion into commodities trading business through this MOA amendment.