Setco Automotive Limited has announced the successful completion of its Extra-Ordinary General Meeting (EGM) held on April 25, 2026, with all four proposed resolutions receiving overwhelming shareholder approval. The meeting was conducted at the company's registered office at Vadodara Godhra Highway, Kalol, Panchmahal, Gujarat, and concluded at 2:45 p.m.

Meeting Overview and Participation

The EGM witnessed participation from 42 shareholders, comprising 7 promoters and promoter group members and 35 public shareholders who attended in person or through proxy. The company had a total of 29,083 shareholders on the record date of April 17, 2026, with 133767275 total outstanding shares.

Resolution Results and Voting Pattern

All four resolutions were passed with significant majority support from shareholders. The voting was conducted through remote e-voting (April 22-24, 2026) and physical polling during the meeting.

Resolution 1: Transaction Approval (Ordinary Resolution)

The first resolution to approve transaction documents and authorize their finalization received strong support with 11133483 votes in favor and only 705 votes against, representing 99.9937% approval.

Resolution 2: Subsidiary Share Disposal (Special Resolution)

The special resolution for disposal of equity shares in Setco Auto Systems Private Limited, a material subsidiary, was approved with 11133683 votes in favor against 705 votes, achieving 99.9937% approval.

Resolution 3: Memorandum Alteration (Special Resolution)

The resolution to alter the Object Clause of the Memorandum of Association received the highest participation, with promoters fully participating in this resolution. The voting results showed 90390971 votes in favor and 705 against, representing 99.9992% approval.

Resolution 4: Company Name Change (Special Resolution)

The final resolution approving the company name change and consequent alterations to the Memorandum and Articles of Association was passed with 90391071 votes in favor and 605 against, achieving 99.9993% approval.

Voting Process and Compliance

The voting process was overseen by Shravan A. Gupta of Shravan A. Gupta & Associates, who served as the scrutinizer. Remote e-voting was facilitated through Central Depository Services Limited (CDSL) platform from April 22, 2026 at 9:00 a.m. to April 24, 2026 at 5:00 p.m.

Notably, there were 32333970 invalid votes recorded for promoter and promoter group category in the first two resolutions, while no invalid votes were recorded for the third and fourth resolutions where promoters participated fully.

Corporate Governance and Transparency

The company has fulfilled its disclosure obligations under Regulation 44 of the SEBI Listing Regulations by publishing detailed voting results. The results are also available on the company's website ( www.setcoauto.com ) and CDSL's e-voting portal ( www.evotingindia.com ), ensuring transparency for all stakeholders.

The successful passage of all resolutions demonstrates strong shareholder confidence in the company's strategic decisions, including the proposed corporate restructuring and constitutional amendments.

Setco Automotive Limited has received regulatory relief as the Gujarat Pollution Control Board (GPCB) revoked its earlier closure direction for the company's subsidiary SASPL manufacturing unit. The revocation order dated April 16, 2026 allows the unit to resume operations for three months, marking a positive development following the initial closure direction issued on March 10, 2026.

Regulatory Relief Details

The GPCB issued the revocation order after conducting a comprehensive review of compliance measures undertaken by the manufacturing unit. The facility, located at Baroda-Godhra Highway, Kalol, District Panchmahal, Gujarat, had been subject to closure directions under Section 33A of the Water (Prevention and Control of Pollution) Act, 1974.

Compliance Conditions

The GPCB revocation order comes with specific compliance requirements that the subsidiary must maintain. The regulatory authority has imposed two key conditions for the continued operation of the manufacturing unit.

The conditions include:

• Compliance with Consolidated Consent Authorisation (CCA) conditions
• Adherence to the undertaking submitted by the subsidiary dated March 30, 2026

Operational Impact

The revocation allows SASPL to resume manufacturing operations at the Gujarat facility, subject to the specified conditions. The company has confirmed that necessary corrective actions have been implemented to address the regulatory concerns that led to the initial closure direction.

Company Response

Setco Automotive has acknowledged the regulatory development and emphasized its commitment to environmental compliance. The company stated that it will continue to ensure strict adherence to applicable environmental laws and regulatory requirements going forward. The management has expressed confidence that the implemented corrective measures will support sustained compliance with environmental standards.