Sandesh has accepted the resignation of Hardik Joshi as its Company Secretary and Compliance Officer. His last working day with the company will be November 15, 2026.

The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Joshi tendered his resignation on September 16, 2026, citing personal reasons.

Resignation Details

Joshi served as a Senior Management Personnel (SMP) of the company. In his resignation letter addressed to the Board of Directors, he stated that he would extend all necessary cooperation to ensure a smooth handover of duties, responsibilities, records, and pending matters.

He also requested the company to initiate requisite filings and disclosures with the Registrar of Companies, stock exchanges, and other relevant regulatory authorities regarding his cessation.

The information was signed by Sanjay Kumar Tandon, Chief Financial Officer, and uploaded to the company website as per regulatory requirements.

Sandesh shareholders approved a final dividend of ₹5 per equity share for FY26 at the company’s 83rd annual general meeting held on September 15, 2026. The meeting also saw the re-appointment of Falgunbhai C. Patel as chairman and managing director and Pannaben F. Patel as a non-executive director.

All seven resolutions placed before shareholders were passed with requisite majorities. The event was conducted through video conferencing and other audio-visual means, with voting facilitated via remote e-voting and e-voting during the AGM.

Voting Participation

As of the cut-off date of September 9, 2026, the company had 7,112 shareholders on record. A total of 41 members attended the meeting via video conferencing. Voting participation was primarily driven by remote e-voting, with no votes cast through postal ballot or poll mechanisms during the physical session.

The promoter group, holding over 74% of the total shares, participated fully in the voting process. Institutional public shareholders also voted on all their holdings, while non-institutional public shareholders showed lower engagement.

Key Resolutions Passed

Shareholders approved the adoption of audited standalone and consolidated financial statements for the financial year ended March 31, 2026. The dividend resolution received near-unanimous support, with only one vote cast against it across all categories.

The re-appointment of Rahoul Rajivkumar Shah as a director retiring by rotation was also approved as an ordinary resolution. The board structure remains stable with these continuity appointments.

Special Resolutions

Three special resolutions required higher thresholds for approval:

• Re-appointment of Falgunbhai C. Patel as CMD with approved remuneration
• Continuation of Smt. Pannaben F. Patel as non-executive director
• Approval to create mortgage/charge on company properties under Section 180(1)(a) of the Companies Act, 2013
• Increase in limits under Section 186 of the Companies Act, 2013 for loans and investments

The CMD re-appointment and Section 186 limit increase faced opposition from institutional public shareholders, who voted entirely against these resolutions. However, strong support from promoters and non-institutional public shareholders ensured passage.

What the Numbers Show

Institutional public shareholders voted unanimously against both the CMD remuneration approval and the Section 186 limit increase. Despite this dissent, the resolutions passed due to the promoter group’s decisive voting power and broad support from retail investors. This pattern suggests potential governance concerns among institutional investors regarding executive compensation and lending limits.