Goodricke Group Limited has successfully concluded its postal ballot process with shareholders overwhelmingly approving all three proposed resolutions. The voting results, announced on January 5, 2026, demonstrate strong shareholder confidence in the company's strategic direction, with all resolutions receiving over 99% approval.

Postal Ballot Results Overview

The remote e-voting process, conducted from December 4, 2025, to January 3, 2026, saw significant participation from shareholders. The results were scrutinized by Anjan Kumar Roy & Co., Company Secretaries, and officially submitted to BSE Limited on January 5, 2026.

Tea Estate Divestment Approved

Shareholders approved the special resolution for selling, leasing, or disposing of certain tea estates worth up to 30% of the company's net book value. This strategic decision received 99.98% approval with 1,60,95,218 votes in favor and only 2,518 votes against.

The divestment strategy aims to:

• Divest loss-making estates
• Reduce borrowing costs
• Strengthen the branded tea business
• Improve operational efficiency

Management Appointments Confirmed

Two key management appointments received strong shareholder endorsement:

CFO Reappointment: Soumen Mukherjee's reappointment as Director Finance & CFO for three years was approved with 99.98% votes (1,60,95,269 in favor vs. 2,467 against).

New Director: Oliver Capon's appointment as Non-Executive Non-Independent Director effective January 1, 2026, received the highest approval rate of 99.99% (1,60,95,599 in favor vs. 2,087 against).

Voting Participation Analysis

The postal ballot saw participation from 21.6 million shares, representing 74.53% of the total outstanding shares. Promoter group entities - Assam Dooars Investments Limited and Western Dooars Investments Limited - voted unanimously in favor of all resolutions with their combined 1,59,84,000 shares.

Regulatory Compliance and Process

The postal ballot process was conducted in full compliance with Section 108 and 110 of the Companies Act, 2013, and Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The scrutinizer's report, prepared by Anjan Kumar Roy & Co., confirms that all procedural requirements were met.

Financial Context

These strategic decisions come at a time when Goodricke has demonstrated significant financial improvement. The company turned profitable in FY 2025 with a net profit of ₹20.10 crore compared to a loss of ₹69.30 crore in FY 2024. Revenue grew 13.25% to ₹948.90 crore, while EBITDA turned positive at ₹38.70 crore.

The overwhelming shareholder approval provides Goodricke Group with a clear mandate to execute its strategic transformation, focusing on profitable operations while strengthening its position in the branded tea segment. The voting results and scrutinizer's report have been uploaded on the company's website and NSDL's e-voting portal as per regulatory requirements.

Goodricke Group , a prominent player in the Indian tea industry, has announced a significant move in its business operations. The company has recently signed an agreement to sell its Leesh River Tea Estate, marking a notable change in its asset portfolio.

Key Points of the Agreement

• Goodricke Group has entered into an agreement for the sale of Leesh River Tea Estate.
• The estate is one of the company's tea-producing properties.
• This move suggests a strategic decision by the company regarding its asset management.

Limited Information Available

At this time, crucial details about the transaction remain undisclosed:

• The identity of the buyer has not been revealed.
• Financial terms of the sale agreement are yet to be made public.
• The rationale behind the decision to sell the estate has not been elaborated upon.

Potential Implications

While the full impact of this sale cannot be assessed without more information, it could potentially signify:

• A strategic realignment of Goodricke Group's tea estate portfolio.
• Efforts to optimize operations or focus on more profitable assets.
• A response to changing market dynamics in the tea industry.

Shareholders and industry observers will likely be keen to learn more about the terms of the sale and its potential impact on Goodricke Group's operations and financial position. As more details become available, a clearer picture of the company's strategic direction may emerge.

The company has not provided any additional context or reasoning for this decision in their latest disclosures. Investors and stakeholders are advised to keep an eye out for further announcements that may shed light on the motivations behind this sale and its implications for Goodricke Group's future operations.