News Stocks WPIL Limited Announces Successful Postal Ballot Results with All Six Resolutions ApprovedWPIL Limited Announces Successful Postal Ballot Results with All Six Resolutions Approved
WPIL Limited successfully concluded its postal ballot process with all six resolutions receiving overwhelming shareholder approval exceeding 99.95%. Key approvals included re-appointment of Mr. Prakash Agarwal as Managing Director and Mr. K.K. Ganeriwala as Executive Director for three-year terms, along with significant capital restructuring increasing authorized share capital from Rs. 10.50 crores to Rs. 12.00 crores through preference share reclassification and creation of additional equity shares.
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WPIL Limited has announced the successful completion of its postal ballot process, with all six proposed resolutions receiving overwhelming shareholder approval. The scrutinizer's report, filed on January 29, 2026, confirms that each resolution passed with requisite majority, reflecting strong shareholder confidence in the company's strategic initiatives.
Leadership Re-appointments Approved
Shareholders overwhelmingly endorsed the re-appointment of key executive positions through special resolutions. The voting results demonstrate exceptional support for the company's leadership continuity:
| Resolution | Votes in Favour | Votes Against | Approval Rate |
|---|---|---|---|
| Mr. Prakash Agarwal (Managing Director) | 76,893,341 | 2,338 | 99.9970% |
| Mr. K.K. Ganeriwala (Executive Director) | 76,860,694 | 34,985 | 99.9545% |
Both executives have been re-appointed for a three-year term from November 1, 2025, through October 31, 2028. The appointments include comprehensive remuneration packages as recommended by the Nomination and Remuneration Committee and approved by the Audit Committee and Board of Directors.
Capital Structure Restructuring
The company successfully implemented significant changes to its authorized share capital structure through multiple ordinary resolutions. The restructuring involved the cancellation of 14,000 11% unissued Redeemable Cumulative Preference shares of face value Rs. 100/- each, converting them into 14,00,000 unissued equity shares of face value Rs. 1/- each.
| Capital Restructuring Measures | Votes in Favour | Approval Rate |
|---|---|---|
| Preference Share Reclassification | 76,890,053 | 99.9961% |
| Authorized Capital Increase | 76,890,153 | 99.9963% |
| Memorandum Alteration | 76,890,103 | 99.9962% |
| Articles Alteration | 76,892,666 | 99.9962% |
Enhanced Authorized Share Capital
Following the restructuring, the company's authorized share capital increased from Rs. 10,50,00,000/- to Rs. 12,00,00,000/- through the creation of additional 1,50,00,000 unissued equity shares of face value Rs. 1/- each. This expansion provides the company with enhanced financial flexibility for future growth initiatives.
The constitutional amendments to both the Memorandum and Articles of Association were approved to reflect the new capital structure. The revised Clause 5 of the Memorandum now states the authorized share capital as Rs. 12,00,00,000 divided into 12,00,00,000 equity shares of Rs. 1/- each.
Voting Process and Participation
The remote e-voting process was conducted through NSDL's platform, with the voting period commencing on December 30, 2025, at 09:00 a.m. and concluding on January 28, 2026, at 05:00 p.m. Shareholders holding shares as of the cut-off date of December 26, 2025, were eligible to participate in the voting process.
P.V. Subramanian, Company Secretary in Whole-time Practice (ACS-4585 & CP No. 2077), served as the appointed scrutinizer for the postal ballot process. The scrutinizer's report confirms that all voting procedures were conducted in accordance with the Companies Act, 2013, and applicable regulations, with no invalid votes recorded across any resolution.
Historical Stock Returns for WPIL
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.12% | -0.83% | -11.24% | -10.74% | -36.32% | +519.61% |
