Sobhagya Mercantile Limited has secured shareholder approval for a material related party transaction with MKS Constro-Venture Private Limited. The resolution was passed through a postal ballot conducted via remote e-voting, which concluded on July 03, 2026. This approval authorizes the company to proceed with the specific transaction involving the related party.

The remote e-voting process was open from June 04, 2026, to July 03, 2026. PDTS and Associates, comprising Company Secretaries, were appointed as the scrutinizer to oversee the voting process and ensure transparency. The scrutinizer's report confirmed that the resolution received the requisite majority for approval.

A total of 579,258 valid votes were cast during the e-voting period. The resolution was passed with an overwhelming majority, as 99.9984% of the votes were cast in favour. Only 9 votes, representing 0.0016% of the total, were cast against the proposal.

Voting Results Summary

Promoters holding 6,299,919 equity shares did not participate in the voting. As the resolution involved a related party transaction, the promoters abstained from voting, and their shares were not taken into account for determining the outcome. The total number of shareholders on the record date of May 29, 2026, was 1,359.

Sobhagya Mercantile Limited has secured a significant work order worth ₹260.53 crore for the construction of the Adyal Lift Irrigation Scheme under the Gosikhurd Project. The order was received by M/s. Adyal L.I.S. (JV), a joint venture where the company holds a 40% stake alongside S. S. Fabricators & Manufacturers Private Limited, which holds the remaining 60%. The project, located in Tal. Bramhapuri, Dist. Chandrapur, was awarded by the Vidarbha Irrigation Development Corporation, Nagpur, Office of the Executive Engineer, Gosikhurd Right Bank Canal Division, Bramhapuri.

The agreement, numbered B-1/05/DL/2026-2027, was signed on June 09, 2026. The joint venture has deposited an initial security deposit of Rs 2,61,29,200 via bank guarantee and remitted a stamp duty of Rs 25,00,000 to formalize the contract. The project is classified as a domestic order and is not a related party transaction.

Project Details

The contract stipulates a strict timeline for completion. The joint venture is required to execute the entire scope of work within a period of 33 months from the commencement date. The nature of the order involves comprehensive construction activities for the lift irrigation scheme.

Financial and Operational Breakdown

The intimation was submitted to the exchange under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure confirms that neither the promoter group nor other group companies hold any interest in the entity awarding the order.