S P Apparels Ltd has fixed December 10, 2026 as the record date to determine shareholder eligibility for the sub-division of its equity shares. This corporate action follows the approval granted by members at the company's 21st Annual General Meeting.

The board of directors approved the record date during a meeting held on October 6, 2026. The sub-division involves splitting the existing face value of equity shares from ₹10 per share into five new equity shares of ₹2 each. These new shares will be fully paid-up and rank pari-passu with existing equity shares.

Sub-division details

The split aims to enhance liquidity and broaden the shareholder base by reducing the absolute price point of individual shares. The specific mechanics of the conversion are outlined below:

Regulatory compliance

The company informed the Bombay Stock Exchange and National Stock Exchange of India regarding the outcome of the board meeting pursuant to Regulations 30 and 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The board meeting commenced at 1:00 pm and concluded at 1:30 pm on the date of the announcement.

S P Apparels Limited held its 21st Annual General Meeting on September 21, 2026, where shareholders approved the subdivision of equity shares. The company reduced the face value of its shares from ₹10 to ₹2 each through a special resolution.

The meeting was conducted via video conferencing and other audio-visual means in compliance with Ministry of Corporate Affairs circulars. A total of 45 members representing 1,52,57,995 equity shares attended the proceedings. The Company Secretary and Compliance Officer, K. Vinodhini, submitted the scrutinizer's report and declaration of voting results to BSE and NSE on September 23, 2026, confirming that all resolutions were passed with the requisite majority.

Key Resolutions Passed

The Board of Directors presented five items for shareholder approval. The ordinary resolutions included:

• Adoption of the audited standalone and consolidated financial statements for FY26 ended March 31, 2026.
• Declaration of dividend on equity shares for FY26.
• Re-appointment of Smt. S. Latha as a director retiring by rotation.

The special resolutions focused on capital structure adjustments:

• Subdivision of the face value of equity shares from ₹10 to ₹2 each.
• Alteration of the capital clause in the Memorandum of Association to reflect the new share structure.

Voting Results and Scrutiny

Mr. M D Selvaraj, Managing Partner of MDS & Associates LLP, served as the Scrutinizer for the remote e-voting and e-voting conducted at the AGM. The remote e-voting period ran from September 18, 2026, at 9:00 am to September 20, 2026, at 5:00 pm. Shareholders present at the meeting who had not voted remotely were given an additional 15 minutes to cast their votes electronically during the session.

The voting results for the key resolutions are summarized below:

For Item No. 3, regarding the re-appointment of Smt. S. Latha, 8 members cast dissenting votes totaling 17,844 shares, representing 0.09% of valid votes. For all other items, dissenting votes were negligible (5 shares). Additionally, for Item No. 1, two shareholders holding 31,018 equity shares abstained from voting.

Governance and Attendance

The Chairman and Managing Director, Sri. P. Sundararajan, presided over the meeting. He confirmed that the requisite quorum was present and that statutory registers were available for electronic inspection. The Statutory Auditors’ Report and Secretarial Auditors’ Report contained no qualifications or adverse remarks.

Remote e-voting was facilitated by MUFG Intime India Private Limited. The scrutiny process was witnessed by Ms. Vinothini S and Ms. Ravina V, who are not employees of the company.