Zuari Industries Limited successfully concluded its postal ballot voting process on January 22, 2026, with shareholders demonstrating strong support for proposed director appointments. The remote e-voting exercise, conducted in compliance with SEBI regulations, resulted in the approval of two key resolutions related to board composition.

Voting Process and Timeline

The postal ballot notice was issued to shareholders on December 23, 2025, with the remote e-voting period commencing on December 24, 2025, at 9:00 AM IST and concluding on January 22, 2026, at 5:00 PM IST. Shareholders holding shares as of the record date of December 19, 2025, were eligible to participate in the voting process.

Resolution Results

Both resolutions presented to shareholders received overwhelming approval, demonstrating strong confidence in the proposed appointments.

Resolution 1: Appointment of Mr. Akshay Poddar

The ordinary resolution to appoint Mr. Akshay Poddar (DIN: 00008686) as Non-Executive Director was approved with substantial majority support.

Resolution 2: Appointment of Mr. Sanjeev Lall

The special resolution for appointing Mr. Sanjeev Lall (DIN: 08740906) as Independent Director for a five-year term from November 13, 2025, to November 12, 2030, also received strong shareholder support.

Scrutinizer's Report and Compliance

Ms. Aditi Gupta, Practicing Company Secretary (Membership No. FCS 9410) from Aditi Agarwal & Associates, served as the scrutinizer for the postal ballot process. The scrutinizer's report confirmed that both resolutions were passed with the requisite majority and deemed effective from January 22, 2026.

The voting process was conducted through the National Securities Depositories Limited (NSDL) e-voting platform, ensuring transparency and compliance with:

• Section 108 & 110 of the Companies Act, 2013
• Rule 20 & 22 of the Companies (Management and Administration) Rules, 2014
• Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
• Secretarial Standard on General Meetings (SS-2) issued by ICSI

Board Strengthening Initiative

The successful approval of both director appointments reflects shareholders' confidence in the company's governance structure. Mr. Akshay Poddar's appointment as Non-Executive Director and Mr. Sanjeev Lall's five-year tenure as Independent Director are expected to bring additional expertise and independent oversight to the board.

The voting results were formally communicated to the National Stock Exchange of India Limited and BSE Limited on January 23, 2026, by Company Secretary Yadvinder Goyal, ensuring full regulatory compliance and transparency in the appointment process.

Zuari Industries Limited has received disclosure from Jyotsna Poddar confirming her acquisition of 3,00,000 shares from immediate relative Akshay Poddar on December 19, 2025. The transaction was executed as an inter-se transfer among promoter relatives with no monetary consideration involved, structured as a gift.

Regulatory Filing Under SAST Regulations

Jyotsna Poddar submitted the latest disclosure under Regulation 10(6) of SEBI's Substantial Acquisition of Shares and Takeovers Regulations on December 23, 2025. The filing was made to both BSE Limited and National Stock Exchange of India Limited, confirming compliance with regulatory requirements for exempt acquisitions.

Exemption and Compliance Details

The acquisition qualifies for exemption under Regulation 10(1)(a) of the SAST Regulations as it involves inter-se transfer between immediate relatives within the promoter group. Prior disclosure was made under Regulation 10(5) on December 13, 2025, demonstrating proactive compliance with regulatory timelines.

Updated Shareholding Pattern

Following the completion of the acquisition, Jyotsna Poddar's total shareholding in the company has increased to 3,71,621 shares, representing 1.25% of the total paid-up share capital. The disclosure confirms the updated shareholding positions of both parties involved in the transaction.

Company Share Capital Structure

The disclosure confirms that Zuari Industries Limited has a total equity share capital of 2,97,81,184 equity shares of ₹10.00 each. The company's shares are listed on both BSE Limited and National Stock Exchange of India Limited, providing liquidity to investors across major exchanges. The transaction represents a redistribution of shareholding among promoter relatives without affecting the overall promoter group holding in the company.