Shilp Gravures Limited Completes Postal Ballot for Independent Director Appointment

Shilp Gravures Limited has successfully completed its postal ballot process on January 12, 2026, securing shareholder approval for the appointment of Ms. Jinal Hasmukhbhai Rupani as Non-Executive Independent Director. The special resolution received overwhelming support from shareholders, demonstrating strong confidence in the company's governance decisions.

Postal Ballot Results and Voting Details

The postal ballot process, conducted entirely through remote e-voting, achieved remarkable shareholder participation and approval rates. The voting results demonstrate strong shareholder confidence in the proposed appointment.

Voting Category	Shares Held	Votes Polled	Votes in Favor	Votes Against	Approval Rate
Promoter and Promoter Group	3,740,839	3,740,839	3,740,839	0	100.00%
Public Non-Institutions	16,982	16,982	16,965	17	99.90%
Public Institutions	0	0	0	0	0.00%
Total	3,757,821	3,757,821	3,757,804	17	99.9995%

Director Appointment Details

Ms. Jinal Hasmukhbhai Rupani (DIN: 11029766) was initially appointed as Additional Director (Non-Executive & Independent) by the Board of Directors on November 04, 2025. The postal ballot sought shareholder approval for her formal appointment as Non-Executive Independent Director for a first term of five consecutive years, effective from November 04, 2025.

Appointment Parameter	Details
Director Name	Ms. Jinal Hasmukhbhai Rupani
DIN	11029766
Position	Non-Executive Independent Director
Term Duration	5 consecutive years
Effective Date	November 04, 2025
Retirement by Rotation	Not liable

Voting Process and Timeline

The company conducted the postal ballot process through Central Depository Services (India) Limited (CDSL) e-voting platform. The process was overseen by CS Janvi N. Davda, appointed as scrutinizer by the Board of Directors on December 09, 2025.

Key Process Details:

Record Date: December 05, 2025
Total Shareholders: 5,758 on record date
E-voting Period: December 12, 2025 (9:00 AM) to January 12, 2026 (5:00 PM)
Notice Date: December 10, 2025
Scrutinizer Report Date: January 12, 2026

Regulatory Compliance and Documentation

The postal ballot process was conducted in accordance with Section 110 of the Companies Act, 2013, and Rules 20 and 22 of the Companies (Management and Administration) Rules, 2014. The company published advertisements in The Indian Express (Gujarati & English) and The Financial Express (Gujarati) on December 11, 2025, informing shareholders about the completion of notice dispatch.

The scrutinizer's report confirms that the resolution was passed as a Special Resolution, meeting all regulatory requirements under SEBI Listing Regulations. The voting results and scrutinizer's report are available on the company's website at www.shilpgravures.com for shareholder reference.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+1.84%	-3.46%	-13.26%	-24.53%	-39.56%	+153.20%

Shilp Gravures Limited , a manufacturer of gravure rollers, has reported a significant decline in its standalone profit for the second quarter of fiscal year 2026. The company's financial results, released on November 12, 2025, show a 51% decrease in profit compared to the same period last year.

Financial Performance

For the quarter ended September 30, 2025, Shilp Gravures reported a standalone profit of ₹192.23 lakhs, down from ₹390.95 lakhs in the corresponding quarter of the previous year. Despite the drop in profit, the company's revenue from operations saw a modest increase, rising to ₹2,324.67 lakhs from ₹2,249.41 lakhs year-over-year.

The company's financial performance for Q2 FY26 can be summarized as follows:

Particulars (in lakhs)	Q2 FY26	Q2 FY25	% Change
Revenue from Operations	2,324.67	2,249.41	+3.3%
Total Expenses	2,082.19	1,995.88	+4.3%
Profit Before Tax	263.24	541.61	-51.4%
Net Profit	192.23	390.95	-50.8%

The half-yearly results also reflect a similar trend, with profit for the first six months of FY26 reaching ₹583.18 lakhs, compared to ₹674.29 lakhs in the previous year.

Segment Performance

Shilp Gravures operates in three reportable segments: manufacture of gravure rollers, power generation, and others. The gravure rollers segment continues to be the primary revenue generator for the company. For Q2 FY26, the segment-wise revenue breakdown is as follows:

Gravure rollers: ₹2,194.13 lakhs
Power generation: ₹86.74 lakhs
Others: ₹130.54 lakhs

Board Committee Reconstitution

In addition to the financial results, Shilp Gravures announced the reconstitution of its Audit Committee and Stakeholders Relationship Committee. The new compositions are as follows:

Audit Committee:

Mr. Jayantilal Jhalavadia (Independent Director) - Chairman
Mr. Shailesh Patel (Independent Director) - Member
Mr. Shailesh Shah (Independent Director) - Member
Ms. Jinal Rupani (Independent Director) - Member

Stakeholders Relationship Committee:

Mr. Jayantilal Jhalavadia (Independent Director) - Chairman
Mr. Shailesh Patel (Independent Director) - Member
Ms. Jinal Rupani (Independent Director) - Member

The reconstitution of these committees aims to strengthen the company's corporate governance structure and ensure compliance with SEBI regulations.

Conclusion

While Shilp Gravures has experienced a decline in profitability, the company's revenue growth, albeit modest, suggests resilience in its core business. The management may need to focus on cost optimization and operational efficiency to improve profit margins in the coming quarters. The impact of the reconstituted board committees on the company's performance and governance remains to be seen.