Shilp Gravures Limited has submitted the voting results for its 33rd Annual General Meeting held on September 23, 2026. All three ordinary resolutions considered at the meeting were passed with requisite majority, reflecting unanimous support from participating shareholders.

The meeting, conducted via Video Conferencing, focused on the adoption of audited financial statements for the fiscal year ended March 31, 2026, declaration of final dividend, and reappointment of key leadership. Mr. Jayantilal Jhalavadia served as the Chairman of the Meeting. Due to his illness, Mr. Pranav Bhalara, Whole-time Director, addressed the shareholders regarding the company's performance for FY26.

Voting outcomes and resolutions

Shareholders approved all agenda items through remote e-voting and polling. The scrutinizer’s report confirms that no votes were cast against any resolution, and there were zero invalid votes across all categories.

Mr. Kishor Doshi (DIN: 07846262), who retired by rotation, was reappointed as Executive Director liable to retire by rotation. The dividend declared is ₹2.10 per equity share (21%) for FY26.

Participation and scrutiny details

CS Janvi Davda, Practicing Company Secretary, served as the Scrutinizer to ensure fair and transparent voting results in compliance with SEBI LODR Regulations. The remote e-voting period ran from September 20 to September 22, 2026.

Participation data indicates that 50 shareholders attended the meeting via video conferencing, comprising one promoter group member and 49 public shareholders. A total of 3,802,712 votes were polled, representing 61.83% of the total outstanding shares of 6,149,800.

Shilp Gravures has invested ₹1,42,93,800 in its wholly-owned subsidiary, Etone India Private Limited, through a rights issue. The company disclosed the related-party transaction on September 15, 2026, stating the move is intended to expand its business operations.

The investment involves the subscription of 14,29,380 equity shares at a face value of ₹10 each. As Etone India is already a wholly-owned subsidiary, Shilp Gravures retains 100% control following this capital infusion. The transaction was conducted on an arm's length basis, with no interest from promoters or group companies in the target entity other than the listed company itself.

Transaction Details

The cash consideration for the rights issue was fully paid by Shilp Gravures. No governmental or regulatory approvals were required for the acquisition of additional shares in the subsidiary. The filing cites Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, for the disclosure.

Subsidiary Financial Profile

Etone India Private Limited, incorporated on June 11, 2002, manufactures electro-mechanical engraved and chemically etched cylinders for rotogravure and flexo printing machines. The subsidiary operates solely within India.

The target entity reported a turnover of ₹1269.60 lacs for FY26. This represents an increase from ₹1110.20 lacs in FY25 and ₹1154.19 lacs in FY24. The subsidiary's authorized capital stands at ₹2,50,00,000, while its paid-up capital prior to this acquisition was ₹1,05,88,000.

What the Numbers Show

The revenue trajectory of Etone India indicates a recovery in FY26 after a dip in FY25. Turnover rose approximately 14% year-on-year from FY25 to FY26, reversing the decline seen between FY24 and FY25. This renewed growth in the subsidiary's core manufacturing business likely underpins the parent company's decision to inject further capital through the rights issue.