ADDI Industries Limited has successfully concluded its postal ballot process on March 11, 2026, with shareholders approving all four proposed resolutions with requisite majority. The company announced the voting results on March 12, 2026, following scrutiny by appointed scrutinizer M/s. Rawal & Co.

Postal Ballot Overview and Participation

The postal ballot process was conducted in accordance with Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The voting was facilitated through remote e-voting services provided by Central Depository Services (India) Limited (CDSL).

Resolution Details and Voting Results

All four resolutions presented to shareholders received overwhelming support, with approval rates exceeding 99.99% of votes polled.

Resolution 1: Appointment of Whole Time Director

The special resolution for appointing Mr. Sandeep Mittal (DIN: 00225089) as Whole Time Director and approving his remuneration was passed with strong support.

Resolution 2: Non-Executive Director Appointment

The ordinary resolution for appointing Mr. Rajat Goyal (DIN: 03543956) as Non-Executive and Non-Independent Director was approved.

Resolutions 3 & 4: Independent Director Regularizations

Both special resolutions for regularizing appointments of Independent Directors received identical voting patterns:

• Mr. Jai Kishan (DIN: 11033609): Regularization as Non-Executive Independent Director for five years
• Ms. Preeti Jain (DIN: 08803345): Regularization as Non-Executive Independent Director for five years

Both resolutions were approved with 8060512 votes in favour and 7 votes against, representing 99.9999% approval rate.

Scrutinizer Report and Process Validation

Vivek Rawal of M/s. Rawal & Co., Company Secretaries, served as the appointed scrutinizer for the postal ballot process. The scrutinizer was appointed by the Board of Directors in their meeting held on February 07, 2026.

Key Process Highlights:

• Remote e-voting conducted through CDSL platform
• Newspaper publications made in Financial Express and Jansatta on February 10, 2026
• Votes unblocked on March 11, 2026, at 5:03 P.M. in presence of independent witnesses
• No invalid votes recorded across any resolution
• All resolutions passed with requisite majority as per Companies Act, 2013

Shareholder Participation Analysis

The voting results demonstrate strong promoter group participation with 100% of their shareholding (8018175 shares) participating in the postal ballot. Public institutional shareholders holding 11600 shares did not participate in the voting process, while public non-institutional shareholders showed selective participation with 42344 votes polled out of 2766799 shares held, representing 1.53% participation from this category.

The company has fulfilled all regulatory requirements under the Companies Act, 2013, and SEBI Listing Regulations for conducting the postal ballot process, ensuring transparency and compliance in corporate governance practices.

Addi industries announced its unaudited quarterly results for the quarter ended December 31, 2025, alongside several key management appointments approved by the Board of Directors on February 13, 2026. The board meeting commenced at 4:30 PM (IST) and concluded at 5:30 PM (IST), addressing critical governance and financial matters.

Financial Performance for Q3FY26

The company delivered steady financial results for the quarter ended December 31, 2025. On a standalone basis, Addi Industries reported total income of ₹130.20 lakh, comprising entirely of other income as the company currently has no revenue from operations.

For the nine months ended December 31, 2025, the company achieved standalone net profit of ₹192.29 lakh and consolidated profit of ₹201.13 lakh, demonstrating consistent performance across the period.

Key Management Appointments

The Board approved three significant appointments to strengthen the company's governance structure:

Company Secretary Appointment

Mr. Amandeep brings hands-on experience in corporate secretarial functions and regulatory compliance under the Companies Act, 2013, and SEBI Regulations. His expertise includes board meeting management, statutory filings, and coordination with regulatory authorities.

Auditor Appointments

The company appointed new auditors to fill casual vacancies:

M/s Rawal & Co. is a renowned firm with over 10 years of professional experience in corporate governance and compliance services. M/s Garg B. Mohan & Co., established in 1997, offers comprehensive professional services including audit, management consultancy, and tax advisory.

Corporate Restructuring Impact

The company underwent significant restructuring during the quarter pursuant to a Share Purchase Agreement. An acquirer obtained 8018175 equity shares representing 74.27% of the paid-up equity share capital on December 17, 2025, resulting in a change of control and management. However, this restructuring had no impact on the carrying value of assets and liabilities as at the balance sheet date.

Business Outlook and Going Concern

The auditors noted that the company is exploring modalities to start new business ventures, though implementation has not yet begun. Despite this material uncertainty, management maintains that the going concern basis of accounting remains appropriate given future business opportunities. The Board expressed optimism about achieving better working results in the future.