Span Divergent Limited has dispatched its postal ballot notice to shareholders on January 02, 2026, seeking approval for the regularization of Mr. Dharmesh Vinodbhai Desai as Non-Executive Independent Director. The company's Board of Directors had earlier approved this postal ballot process during their meeting on December 29, 2025.

Postal Ballot Dispatch and E-Voting Schedule

The postal ballot notice, dated December 29, 2025, has been electronically sent to shareholders whose names appear in the Register of Members as on the cut-off date of January 01, 2026. The company has engaged National Securities Depository Limited (NSDL) to provide the remote e-voting facility.

Director Regularization Details

The postal ballot seeks shareholder approval through a Special Resolution for regularizing Mr. Dharmesh Vinodbhai Desai's appointment as Non-Executive Independent Director. Mr. Desai was initially appointed as Additional Non-Executive Independent Director on November 10, 2025, subject to shareholder approval.

Professional Background and Qualifications

Mr. Desai brings over two decades of business and industry experience to Span Divergent Limited. He currently serves as the Promoter and Chairman & Managing Director of Meera Industries Limited. His educational credentials include a Bachelor of Engineering (Mechanical) from NIT Surat, South Gujarat University.

His career trajectory includes significant roles across the textile and manufacturing sectors:

• Garden Silk Mills Limited as Design Engineer
• Premier Looms Manufacturers Private Limited as Product Head (TFO division)
• Current role at Meera Industries Limited overseeing business affairs, marketing strategies, capacity expansion, and business development

Board Committee Positions

Following Mr. Desai's appointment, the company has reconstituted its board committees to leverage his expertise:

Scrutinizer and Compliance

Mr. Mitesh Rana of M/s. Mitesh Rana & Co., Practising Company Secretary, has been appointed as the Scrutinizer for the postal ballot process. He holds Certificate of Practice No. 12364 and Peer Review Certificate No. 1430/2021, ensuring the e-voting process is conducted in a fair and transparent manner.

The postal ballot notice has been issued in compliance with Sections 108 and 110 of the Companies Act, 2013, and Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that Mr. Desai meets all independence criteria and is not debarred from holding directorship positions by any regulatory authority.

E-Voting Process

Shareholders can exercise their voting rights electronically through NSDL's e-voting platform. The voting rights will be proportionate to the equity shares held by members in the paid-up equity share capital as on the cut-off date. The postal ballot notice is available on the company's website at www.span.in , NSDL's website at www.evoting.nsdl.com , and BSE's website at www.bseindia.com .

Span Divergent Limited, formerly known as Span Diagnostics Limited, has announced its unaudited financial results for the first quarter. The company's performance shows a mixed picture, with improved standalone results but challenges in its consolidated financials.

Standalone Performance

On a standalone basis, Span Divergent reported a significant improvement in its bottom line. The company's profit after tax increased to Rs 41.67 crore, up from Rs 23.08 crore in the same quarter last year. This represents an impressive year-over-year growth of 80.50%. The basic earnings per share (EPS) also saw a substantial rise, reaching Rs 0.76 compared to Rs 0.42 in the previous year's corresponding quarter.

However, the total income for the quarter decreased to Rs 64.93 crore from Rs 73.55 crore in the corresponding period of the previous year, marking a decline of 11.72%.

Consolidated Results

The consolidated financial results paint a different picture. Span Divergent reported a consolidated loss after tax of Rs 17.01 crore, compared to a loss of Rs 8.53 crore in the same quarter of the previous year. This indicates a widening of losses at the group level.

Segment Performance

Span Divergent operates across three main segments:

1. Cashew processing
2. Tissue culture
3. Trading

The segment-wise performance is as follows:

Subsidiary Challenges

Several of Span Divergent's subsidiaries are facing financial difficulties:

• Aranya Agri Biotech LLP has accumulated losses of Rs 15.12 crore. The Board has approved a plan to discontinue its operations, and its assets have been classified as held for sale since September 30, 2023.

• Biospan Contamination Control Solutions Pvt Ltd reported accumulated losses of Rs 6.54 crore. The company's total liabilities exceeded its total assets by Rs 6.35 crore as of March 31.

Despite these challenges, the management remains optimistic about turning around these subsidiaries. They are exploring possibilities to revive Biospan Scientific LLP and are confident that Biospan Contamination Control Solutions Pvt Ltd can establish profitable operations with appropriate product introductions.

Financial Position

Span Divergent maintains a relatively strong financial position with no outstanding loans from banks or financial institutions. The company only has Rs 1.92 crore in unsecured loans from directors.

The Board of Directors approved these unaudited financial results at their meeting held on August 13. As the company navigates through the challenges in its subsidiaries and segments, investors will be watching closely to see if the positive standalone performance can translate into improved consolidated results in the coming quarters.