Spice Islands Industries Expands into Food & Beverages, Hospitality, Electric Vehicles, and Edible Oil Segments

Spice Islands Industries Limited , formerly known as Spice Islands Apparels Limited, has received shareholder approval for a significant expansion of its business activities. The company, through a postal ballot concluded on November 12, 2025, has secured the green light to diversify its operations into four new segments: Food and Beverages, Hospitality Business, Electric Vehicles, and Edible Oil.

Business Expansion Details

The company's Memorandum of Association has been amended to include the following new business segments:

Food and Beverages: This segment will encompass the manufacturing and trading of processed foods, health foods, beverages, dairy products, confectionery items, and packaged drinking water.
Hospitality Business: Spice Islands Industries will now engage in real estate development, construction, hotels, and property management.
Electric Vehicles: The company plans to enter the leasing and rental business for all types of vehicles, including electric vehicles.
Edible Oil: This segment will focus on manufacturing, processing, refining, and trading of various edible oils including sunflower, soybean, mustard, and palm oil, along with allied products.

Postal Ballot Results

The company conducted a postal ballot through remote e-voting to seek shareholder approval for these changes. The voting results are as follows:

Resolution	Votes in Favor	Votes Against	Result
Approval for addition of new clauses under the Main Objects (Clause 3A) of the Memorandum of Association	2,094 (95.92%)	89 (4.08%)	Passed

Additionally, shareholders approved the appointment of Mr. Dipesh Dalvi (DIN: 08572894) as a Non-Executive Independent Director for a term of five years, with 1,994 votes (91.34%) in favor and 189 votes (8.66%) against.

Voting Participation

The total number of votes cast (2,183) represents 0.05% of the company's total outstanding shares (4,300,000). The promoter and promoter group, holding 2,687,390 shares, did not participate in the voting process.

Market Implications

This strategic diversification marks a significant shift for Spice Islands Industries, potentially opening up new revenue streams and growth opportunities. The move from its previous focus as an apparels company to these diverse sectors could reshape the company's business model and market positioning.

Investors and market watchers will likely be keen to observe how the company implements these new business lines and the potential impact on its financial performance in the coming quarters.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.84%	+0.34%	+24.47%	+88.94%	+96.31%	+106.90%

Spice Islands Industries Limited (SIIL) has announced two significant proposals through a postal ballot notice, seeking shareholder approval for key strategic decisions that could shape the company's future direction and governance.

Appointment of New Independent Director

The company is proposing to appoint Mr. Dipesh Dalvi (DIN: 08572894) as a Non-Executive Independent Director for a five-year term from October 11, 2025, to October 10, 2030. Mr. Dalvi brings a strong financial background to the board, holding a Bachelor of Commerce from the University of Mumbai and a Post Graduate Diploma in Financial Management. His expertise spans taxation, auditing, and financial management, which could prove valuable for SIIL's financial oversight and strategic planning.

Key Details of the Proposed Appointment:

Aspect	Details
Candidate	Mr. Dipesh Dalvi
Position	Non-Executive Independent Director
Term	5 years (Oct 11, 2025 - Oct 10, 2030)
Qualifications	B.Com, PGDFM
Expertise	Taxation, Auditing, Financial Management

Expansion into Edible Oils Segment

In a move that signals a significant diversification of its business portfolio, SIIL is also seeking approval to amend its Memorandum of Association. The proposed amendment would add a new clause to expand the company's operations into the edible oils segment.

Scope of Proposed Expansion:

Manufacturing, processing, and refining of edible oils
Extracting, crushing, blending, and hydrogenating activities
Bottling, packing, and repacking of edible oil products
Marketing, trading, importing, and exporting of edible oils and allied products

This expansion would complement SIIL's existing operations in food and beverages, hospitality, and electric vehicle businesses, potentially opening new revenue streams and market opportunities.

Voting Process and Timeline

The company has set up an e-voting process for shareholders to cast their votes on these proposals:

Event	Date and Time
E-voting Start	October 14, 2025, 9:00 AM
E-voting End	November 12, 2025, 5:00 PM
Results Declaration	By November 14, 2025

Central Depository Services (India) Limited will facilitate the e-voting process, with Mr. Alok Khairwar appointed as the scrutinizer to ensure a fair and transparent voting process.

These proposals reflect SIIL's efforts to strengthen its board with relevant expertise and to diversify its business operations. Shareholders will play a crucial role in determining the company's strategic direction through their votes on these resolutions.