ASI Industries Limited has officially completed the postal ballot process for appointing Mr. Rajaram Gordhanlal Agarwal (DIN: 10384386) as an Independent Director for a five-year term. The company submitted its voting results and scrutinizer report to BSE Limited on March 06, 2026, in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Voting Results and Shareholder Participation

The postal ballot, conducted entirely through remote e-voting via Central Depository Services Limited (CDSL), achieved significant shareholder participation with impressive approval rates.

The voting process demonstrated strong shareholder engagement, with 77.98% of total shares participating in the ballot. The resolution received 99.98% approval from votes cast, with only 11,091 votes against the appointment.

Appointment Details and Director Profile

Mr. Rajaram Gordhanlal Agarwal was initially appointed as Additional Director in the capacity of Non-Executive Independent Director by the Board at their meeting held on January 07, 2026. The postal ballot confirmed his appointment as Non-Executive Independent Director for a period of 5 consecutive years with effect from January 07, 2026.

Mr. Agarwal is a qualified Chartered Accountant with over three decades of corporate experience and is currently engaged in CA Practice. His expertise spans auditing, accounting, taxation, investment, finance, cost management, and compliance with various corporate laws. The company confirmed that he is not related to any existing directors and is not debarred from holding directorship by SEBI or any other authority.

Regulatory Compliance and Process

The postal ballot process was conducted in strict compliance with regulatory requirements under Section 108 and 110 of the Companies Act, 2013, and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Official Scrutinizer Report

CS Nirmal Gupta of GMJ & Associates served as the appointed scrutinizer, ensuring the integrity of the voting process. The scrutinizer's report confirmed that 53 members voted in favor of the resolution, representing 70,230,649 votes (99.98%), while 12 members voted against, representing 11,091 votes (0.02%). No invalid votes were recorded during the process.

The votes were unblocked on March 05, 2026 at 17:01:39 PM in the presence of two independent witnesses, Mr. Raghav Jha and Ms. Palak Shah, neither of whom was employed by the company. The scrutinizer confirmed that all regulatory requirements were met and the resolution was passed with the requisite majority.

Board Strengthening and Transparency

The appointment of Mr. Rajaram Gordhanlal Agarwal as Independent Director represents ASI Industries Limited's commitment to strengthening its board governance structure. The five-year term appointment aligns with corporate governance best practices and regulatory requirements for independent director tenure.

Company Secretary Manish P. Kakrai digitally signed and submitted the voting results to BSE Limited, ensuring full regulatory compliance. The voting results and scrutinizer's report are available on both the company website ( www.asigroup.co.in ) and the e-voting platform ( www.evotingindia.com ), maintaining transparency and accessibility for all stakeholders.

SAI Industries Limited announced its unaudited financial results for the quarter ended September 30, 2025, revealing continued operational challenges with no revenue generation and increased losses compared to the previous year.

Financial Performance Overview

The company reported a net loss of ₹2.13 lacs for Q2FY26, representing a significant increase from the ₹1.04 lacs loss recorded in the corresponding quarter of the previous year. The deterioration in financial performance was primarily attributed to higher operational expenses despite the absence of any income from operations.

Expense Breakdown

The company's total expenses for the quarter comprised other expenses of ₹2.04 lacs and legal and professional charges of ₹0.09 lacs. Employee benefit expenses and depreciation remained at zero, indicating minimal operational activity. The increase in other expenses from ₹1.04 lacs in Q2FY25 to ₹2.04 lacs in Q2FY26 was the primary driver of higher losses.

Half-Year Performance

For the half-year period ended September 30, 2025, SAI Industries recorded a net loss of ₹2.16 lacs compared to ₹1.14 lacs in the corresponding period of the previous year. Total expenses for the half-year stood at ₹2.16 lacs, with other expenses accounting for ₹2.07 lacs and legal and professional charges contributing ₹0.09 lacs.

Balance Sheet Position

As of September 30, 2025, the company's total assets stood at ₹731.09 lacs, primarily comprising investments worth ₹731.00 lacs and cash and cash equivalents of ₹0.09 lacs. The company's equity position remained negative at ₹181.24 lacs, with paid-up equity share capital of ₹296.76 lacs offset by negative reserves of ₹478.00 lacs.

Corporate Governance

The financial results were reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on November 13, 2025. The results have been prepared in accordance with Indian Accounting Standards (Ind-AS) and were subject to limited review by Girotra & Co., Chartered Accountants. The company operates in a single segment, making separate segment reporting inapplicable under Ind-AS 108.