Spice Islands Industries Limited (formerly known as Spice Islands Apparels Limited) has announced its unaudited financial results for the quarter and half year ended September 30, 2025, along with several strategic business developments.

Financial Results and Dividend Declaration

The Board of Directors, in a meeting held on November 14, 2025, approved the unaudited standalone financial results for Q2 FY2025-26. The company declared an interim dividend of Rs. 0.50 per equity share (face value Rs. 10.00), representing a 5% dividend yield. The record date for dividend eligibility is set for November 21, 2025, with payment expected within 30 days of declaration.

Expansion in Hospitality Sector

Spice Islands Industries is expanding its hospitality business:

1. Hotel Somprabha Lease: The company has leased "Hotel Somprabha" in Veraval, Gujarat. This 44-room property is located 2 kilometers from the Somnath Jyotirlinga Temple.

2. Jim Corbett Resort Agreement: A Memorandum of Understanding has been signed with Just Naturals Infra India Pvt Ltd for leasing "Just Naturals Wellness Resort" in Jim Corbett, Nainital. This agreement, spanning 11 months and 29 days from January 1, 2026, is based on a revenue-sharing model.

3. Dwarka Hotel Operations: The company plans to commence hotel operations from a leased property in Dwarka, Gujarat.

Property Acquisition and Loan Facility

The Board has approved a proposal to purchase immovable property in Village Gundavali, Taluka Andheri, Mumbai Suburban. The property measures 1200 sq. ft., with plans to construct a building with a proposed built-up area of 6000 sq. ft.

Additionally, the company has received approval to avail a loan facility of Rs. 2.50 crores, subject to mutually agreed terms with the bank.

Warrant Conversion

The Board noted letters of intent from warrant holders expressing their desire to convert warrants into equity shares. This conversion is subject to receipt of balance consideration and compliance with regulatory requirements.

Market Implications

These developments suggest that Spice Islands Industries is diversifying and expanding its operations, with a focus on the hospitality sector. The interim dividend declaration and expansion into multiple hotel properties across different locations indicate a strategic push into the tourism industry.

The company's moves to acquire property in Mumbai and secure additional loan facilities also point towards plans for further growth and asset expansion. However, these plans are subject to various regulatory approvals and market conditions.

Potential investors are advised to conduct their own research and consider their risk appetite before making investment decisions based on these developments.

Spice Islands Industries Limited , a company listed on the Bombay Stock Exchange (BSE: 526827), has announced significant changes to its board composition and business objectives. The company's shareholders have approved two special resolutions through a postal ballot, marking important developments in its corporate structure and future direction.

New Independent Director Appointment

Mr. Dipesh Dalvi (DIN: 08572894) has been appointed as a Non-Executive Independent Director for a five-year term, effective from October 11, 2025. The appointment, which received strong shareholder support, aims to enhance the company's corporate governance framework.

Key details of the appointment include:

• Term: Five years (not liable to retire by rotation)
• Shareholder Approval: 91.34% votes in favor
• Voting Participation: 2,183 votes cast out of 4,300,000 total shares

Mr. Dalvi brings a wealth of experience to the board:

• Educational Background: Bachelor of Commerce from the University of Mumbai and a Post Graduate Diploma in Financial Management from Welingkar Institute
• Expertise: Extensive experience in direct and indirect taxation, statutory and internal audits, financial audits, and matters related to Income Tax, GST, and other tax laws

Expansion of Business Objectives

In a strategic move, Spice Islands Industries has also received shareholder approval to expand its business scope. The company plans to add a new clause to the Main Objects (Clause 3A) of its Memorandum of Association.

Voting results for this resolution:

While specific details of the new business objectives were not provided in the immediate disclosure, this amendment suggests that Spice Islands Industries is positioning itself for potential diversification or expansion of its current operations.

Shareholder Participation and Corporate Governance

The postal ballot, conducted through remote e-voting, saw participation from a small fraction of the company's shareholders. Out of 4,300,000 total shares:

• Only 2,183 votes were cast, representing about 0.05% of the total shareholding
• Public non-institutional shareholders were the primary participants in the voting process

This low turnout highlights potential areas for improvement in shareholder engagement and participation in corporate decision-making processes.

As Spice Islands Industries Limited moves forward with these changes, stakeholders will be watching closely to see how the new independent director and expanded business objectives will shape the company's future strategies and performance in the market.