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.

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.

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 voting window 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.

S P Apparels has scheduled its 21st Annual General Meeting (AGM) for September 21, 2026, to approve a proposed 5:1 stock split and a recommended final dividend of ₹3 per equity share for FY26.

The company issued the notice on August 28, 2026. The Board of Directors recommended the dividend at its meeting held on August 11, 2026. The payout is subject to shareholder approval at the AGM. The record date for determining dividend entitlement is fixed as September 4, 2026.

Share Capital Subdivision

The Board proposed a special resolution to subdivide the face value of equity shares from ₹10 each to ₹2 each. This 5:1 split aims to enhance liquidity and attract small investors. The aggregate paid-up share capital will remain unchanged at ₹25.14 crore.

Consequently, the company seeks approval to alter Clause V of its Memorandum of Association to reflect the new authorized capital structure of 236.25 crore shares of ₹2 face value each.

Dividend and Tax Deduction at Source

The recommended dividend is ₹3 per equity share of face value ₹10. Shareholders on record as of September 4, 2026, will be eligible for the payment. Dividends will be paid electronically within 30 days to shareholders on record.

Pursuant to the Finance Act, 2020, dividend distribution tax has been abolished, and dividend income is taxable in the hands of shareholders. The company requests shareholders to furnish necessary documents or declarations to the Registrar and Share Transfer Agent (RTA), MUFG Intime India Private Limited, on or before September 21, 2026, to enable appropriate Tax Deduction at Source (TDS) application.

Board Reappointment

Mrs. S. Latha (DIN: 00003388), Executive Director, retires by rotation and offers herself for reappointment. She holds 29.62 lakh equity shares and has served on the board since November 18, 2005. Her remuneration includes ₹6 lakh per month plus 1% commission on net profits.

Voting and Logistics

The meeting will be held via Video Conferencing (VC) or Other Audio Visual Means (OAVM) at 4:00 pm. The register of members will remain closed from September 15 to September 21, 2026. The cut-off date for voting rights is September 14, 2026.

Remote e-voting opens on September 18, 2026, at 9:00 am and closes on September 20, 2026, at 5:00 pm. Shareholders can vote through NSDL, CDSL, or the InstaVote platform.