Ovobel Foods Limited , a prominent player in the egg products industry, has scheduled an Extraordinary General Meeting (EGM) for November 11, 2025, to seek shareholder approval for two significant related party transactions. The meeting will be held at Shanthi Sagar (Party Hall) in Bengaluru.

Key Transactions Proposed

1. Transaction with Ashraya Farms

Ovobel Foods is seeking approval for transactions with Ashraya Farms, involving the purchase of eggs and sale of crushed egg shell powder. The proposed transaction value is up to Rs. 300.00 crore per year, representing 159.08% of the company's turnover of Rs. 188.59 crore for the financial year 2024-25.

Key Points:

• Ashraya Farms has been a supplier to Ovobel Foods for over 28 years
• The farm is owned by Mr. M P Satish Babu, a promoter and director of Ovobel Foods
• The transaction aims to ensure a reliable and uninterrupted source of quality egg supply

2. Land Lease Agreement with Managing Director

The company is also seeking approval to lease 9.175 acres of land from Mr. Mysore Satish Sharad, the Managing Director, for a period of 30 years.

Terms of the Lease:

• Refundable deposit: Rs. 1.26 crore
• Annual rent: Rs. 5,000
• Purpose: Establishing a brooder in a poultry farm

Rationale for the Transactions

The company states that these transactions are crucial for its growth strategy:

1. The agreement with Ashraya Farms aims to secure a consistent supply of high-quality eggs, which is essential for meeting the standards required by Ovobel's international customers.

2. The land lease agreement is part of the company's backward integration plans, potentially allowing Ovobel to meet a substantial part of its egg demand from its own farms in the future.

Shareholder Approval and Voting

Both transactions require approval by ordinary resolution. The company has emphasized that these transactions will be conducted on an arm's length basis and in the ordinary course of business.

Shareholders can vote on these resolutions through remote e-voting, which will be open from November 8 to November 10, 2025, or at the EGM venue on November 11, 2025.

Management's Stake

It's worth noting that the promoter group, including Mr. M P Satish Babu, Mrs. Sukanya Satish, and Mr. Mysore Satish Sharad, holds 68.94% of the company's paid-up share capital as of August 15, 2025.

Ovobel Foods' management believes that these transactions will contribute to the company's growth and create value for shareholders. However, as these are related party transactions, the company is seeking shareholder approval in compliance with SEBI regulations to ensure transparency and protect minority shareholder interests.

Ovobel Foods Limited , a prominent player in the food industry, held its 33rd Annual General Meeting (AGM) on September 30, 2025, through video conferencing. The meeting saw a mix of approvals and rejections as shareholders voted on seven key resolutions.

Approved Resolutions

The company reported that five out of the seven proposed resolutions received the requisite majority approval from shareholders. These included:

1. Adoption of audited financial statements for the year ended March 31, 2025, along with the Board of Directors' and Auditors' reports, passing with an overwhelming 99.83% votes in favor.

2. Re-appointment of Mr. Syed Fahad (DIN: 01865406) as a director, who was retiring by rotation, with 99.83% approval.

3. Appointment of Ms. Suman Bajoria as the secretarial auditor for a five-year term from 2025-26 to 2029-30, securing 99.83% of votes in favor.

4. Re-appointment of Mr. Mysore Satish Sharad (DIN: 08987445) as Managing Director, passing with 60.97% approval.

5. Appointment of Mrs. Sukanya Satish (DIN: 02488406) as a Non-Executive Promoter Director, receiving 60.96% of votes in favor.

Rejected Resolutions

Two resolutions failed to secure the necessary shareholder approval:

1. Approval for related party transactions with Ashray Farms.
2. Approval for the lease of land from Mr. Mysore Satish Sharad.

Both these resolutions received only 6.19% votes in favor, indicating significant shareholder opposition to these proposed transactions.

Meeting Participation

The AGM saw participation from 47 shareholders who attended through video conferencing. This turnout was from a total of 6,552 shareholders on record as of the cut-off date of September 23, 2025.

Voting Process

The company utilized the e-voting services provided by CDSL for both remote e-voting and voting during the AGM. The voting period for remote e-voting was from September 27, 2025, to September 29, 2025. Ms. Suman Bajoria, a Practicing Company Secretary, was appointed as the scrutinizer to ensure a fair and transparent voting process.

Management's Response

Mysore Satish Sharad, the Managing Director of Ovobel Foods Limited, signed off on the voting results report. The company's management expressed that the approved resolutions will help in steering the company's future course, while also acknowledging the shareholders' decision on the rejected proposals.

The results of this AGM reflect the active engagement of Ovobel Foods Limited's shareholders in the company's governance matters, demonstrating a balance between supporting management initiatives and exercising caution on certain business decisions.