Sical Logistics Limited has successfully concluded its postal ballot voting process, with shareholders approving both resolutions presented in the notice dated December 08, 2025. The remote e-voting concluded on January 09, 2026, at 05:00 p.m. IST, with results announced on January 12, 2026.

Voting Results Overview

The postal ballot covered two critical corporate governance matters, both of which received strong shareholder support. The company had 40,652 total shareholders on the record date of December 05, 2025, with the cut-off date serving as the eligibility criterion for e-voting participation.

Director Re-appointment Resolution

The special resolution for re-appointing Mr. Seshadri Rajappan (DIN: 00862481) as whole-time director received overwhelming shareholder approval. The resolution garnered support from shareholders representing 91.01% of the company's total outstanding shares.

Mr. Rajappan will serve as whole-time director for three consecutive years from January 11, 2026, to January 10, 2029, with annual remuneration up to ₹74.00 lakh excluding perquisites as mentioned under Section IV of Part II of Schedule V of the Companies Act, 2013.

Related Party Transaction Modification

The ordinary resolution addressing modifications to the related party transaction with Pristine Malwa Logistics Park Private Limited, the company's immediate holding company, was approved with 97.36% of votes cast in favor. Notably, the promoter and promoter group abstained from voting on this resolution due to their interest in the matter.

The approved modifications involve reducing the number of leased commercial equipment and adjusting lease rent payments. The transaction covers 21 commercial equipment leased from March 2025 to February 2028, and 17 commercial equipment leased from April 2025 to March 2028.

Lease Rent Structure

The modified lease rent structure for the related party transaction establishes clear financial parameters for the three-year period:

• Financial Year 2025-26: Up to ₹21.08 crore (exclusive of applicable taxes)
• Financial Year 2026-27: Up to ₹15.67 crore (exclusive of applicable taxes)
• Financial Year 2027-28: Up to ₹15.01 crore (exclusive of applicable taxes)

Process and Compliance

The postal ballot process was conducted in compliance with Sections 108 and 110 of the Companies Act, 2013, and Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. M/s. KRA & Associates, Practicing Company Secretaries, served as the scrutinizer for the e-voting process, ensuring transparency and fairness.

Central Depository Services (India) Limited (CDSL) facilitated the remote e-voting platform, with the postal ballot notice distributed electronically to eligible shareholders on December 09, 2025. The company published notices in Business Standard (English) and Makkal Kural (Tamil) newspapers on December 10, 2025, informing shareholders about the voting process.

The voting results, scrutinizer's report, and minutes of postal ballot proceedings are available on the company's website at sical.in and CDSL's e-voting portal at evotingindia.com, ensuring transparency and accessibility for all stakeholders.

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Sical Logistics Ltd announced on Monday (January 12) that it has received a letter of acceptance from South Eastern Coalfields Ltd (SECL) for a major project worth ₹4,038.00 crore, including GST. The contract represents a significant business win for the integrated logistics service provider.

Project Details

The contract pertains to the Porda Chimtapani open cast project located in Raigarh, Chhattisgarh. The project specifications are outlined below:

Sical Logistics will execute the project according to the specifications outlined in the tender. The company confirmed that the promoter, promoter group, and group companies do not have any interest in SECL, and the contract is not classified as a related party transaction.

Company Background and Operations

Established in 1955, Sical Logistics operates as a leading integrated logistics service provider in India. The company was acquired by Delhi-based Pristine Malwa Logistics Park Pvt Ltd in 2023, marking a significant ownership change.

The company's major operations include:

• Mining projects for Northern Coalfields Ltd in Madhya Pradesh
• Mining operations for Mahanadi Coalfields Ltd in Odisha
• Dredging operations through a cutter suction dredger deployed on India's east coast
• Container freight stations and warehousing services
• Third-party logistics (3PL) services

Recent Project Achievements

Sical Logistics has demonstrated expertise across multiple sectors. The company currently operates a cutter suction dredger conducting dredging operations at Ramayapatnam Port. In 2022, it successfully completed a dredging project for ONGC pipeline construction in Yanam, Puducherry.

Beyond its core mining and dredging operations, the company has strategically expanded into container freight stations, warehousing, and third-party logistics services, diversifying its revenue streams.

Market Performance

Following the contract announcement, Sical Logistics shares performed positively in Monday's trading session:

The stock's positive movement reflects investor confidence in the company's ability to secure and execute large-scale infrastructure projects.