Shipwaves Online Limited has declared the results of its postal ballot conducted through remote e-voting, with shareholders approving three out of four proposed resolutions on March 6, 2026. The company's Board of Directors had approved the postal ballot process on January 27, 2026, seeking shareholder approval on critical corporate governance matters including loans, guarantees, and material related party transactions.

Postal Ballot Process and Timeline

The remote e-voting process was conducted from February 4 to March 4, 2026, with the cut-off date for eligible shareholders set as January 30, 2026. The company engaged Central Depository Services (India) Limited (CDSL) to provide the remote e-voting facility, while Mr. Chethan Nayak K and Mrs. Ujala Rani of Chethan Nayak & Associates served as scrutinizers for the process.

Resolution Results and Voting Outcomes

The postal ballot covered four key resolutions, with shareholders rejecting only the first proposal while approving the remaining three.

Resolution 1: Loans and Guarantees (Rejected)

The special resolution seeking approval for loans, guarantees, or securities under Section 185 of the Companies Act, 2013, up to Rs. 500 crores was rejected by shareholders. The voting results showed 10 members with 2,00,000 votes in favor, while 3 members with 80,000 votes opposed the resolution, failing to achieve the requisite majority.

Approved Resolutions

Three ordinary resolutions were successfully passed with requisite majority:

Material Related Party Transactions

The approved resolutions enable significant business transactions with related entities. The loan approval to a related party allows transactions up to Rs. 20 crores, while the material related party transaction with subsidiary Shipwaves Online LLC permits arrangements up to Rs. 10 crores for Financial Years 2025-26 to 2027-28.

The largest approved transaction involves Mukka Proteins Limited, with shareholders authorizing related party transactions up to Rs. 100 crores during Financial Years 2025-26 to 2027-28. All approved transactions are subject to arm's length pricing and ordinary course of business requirements.

Corporate Governance and Compliance

The postal ballot process was conducted in compliance with Section 108 and Section 110 of the Companies Act, 2013, along with SEBI Listing Regulations. The company published newspaper advertisements in Business Standard (English) and Vijaya Karnataka (Kannada) on February 4, 2026, as required under regulatory provisions.

Company Secretary Jessica Juliana Mendonca oversaw the process, with Chairman Kalandan Mohammed Haris declaring the final results. The results were simultaneously communicated to BSE Limited and uploaded on the company's website on March 6, 2026, ensuring full regulatory compliance and transparency in the voting process.

Shipwaves Online Limited has secured a significant purchase order worth ₹1,56,70,678 from Hindalco Industries Limited to implement a comprehensive end-to-end logistics digitalization solution designed to enhance Hindalco's export and freight management operations. The order was disclosed on March 13, 2026, under regulatory requirements to BSE Limited in accordance with Securities and Exchange Board of India (SEBI) Listing Regulations.

Contract Details and Scope

The engagement represents a strategic partnership where Shipwaves Online will deploy its advanced platform to support Hindalco across several key areas of logistics management over a three-year period.

Technology Solutions and Features

Under the contract, Shipwaves Online will implement multiple technology-driven logistics solutions:

• End-to-End Export Shipment Management: A centralized system for planning, documentation, tracking, and execution of export shipments
• AI-Enabled Freight Bill Audit: Automated validation of freight invoices to improve cost accuracy and reduce revenue leakage
• Digital Freight Tender Management for Imports: A transparent and structured digital platform for managing freight procurement and tendering across logistics partners

Strategic Significance

Hindalco, a flagship metals company of the Aditya Birla Group, selected Shipwaves Online after evaluating multiple logistics technology platforms and recognizing the company's specialized capabilities in digitizing global freight operations. For Shipwaves Online, the collaboration strengthens its presence within the Aditya Birla Group ecosystem, following the earlier onboarding of Grasim Industries on its platform.

Market Context

Industry observers note that the adoption of digital freight management platforms is gaining momentum as companies seek to streamline global supply chains, improve transparency, and optimize logistics costs. The contract validates Shipwaves Online's technology as a scalable and enterprise-ready solution for global manufacturers looking to modernize their logistics infrastructure.

Company officials stated that securing a marquee enterprise client like Hindalco reinforces Shipwaves Online's position as a trusted technology partner for large industrial organizations seeking digital transformation in supply chain and freight management.