Shipwaves online Limited has secured a significant contract from FedEx Express, marking an important milestone in its logistics technology business. The company announced receiving purchase orders worth ₹35,68,500 from FedEx Express Transportation & Supply Chain Services (India) Pvt. Ltd. for implementing a comprehensive logistics digitalization solution.

Contract Details and Scope

The purchase orders involve implementation and maintenance of an end-to-end logistics digitalization solution specifically tailored to FedEx's operational requirements. The contract is valued at ₹35,68,500 and will be executed on an immediate basis, indicating the urgency and importance of the project for FedEx's operations.

Regulatory Compliance and Disclosure

Shipwaves Online Limited made this announcement in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was made on April 1, 2026, and includes comprehensive details as required under the regulatory framework.

Key Contract Characteristics

The contract represents a domestic engagement with no related party transactions involved. The company confirmed that promoters, promoter groups, or group companies have no interest in FedEx Express, ensuring the deal's independence. Key aspects of the agreement include:

• Implementation of tailored logistics digitalization solutions
• Ongoing maintenance and support services
• Immediate execution requirements
• Comprehensive end-to-end solution coverage

Business Impact

This contract award demonstrates Shipwaves Online Limited's capabilities in the logistics technology sector and its ability to secure business from major international logistics companies operating in India. The immediate execution timeline suggests FedEx's confidence in the company's delivery capabilities and the critical nature of the digitalization solution for their operations.

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.