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Acknit Industries has issued a Postal Ballot Notice to members with e-voting open from November 19, 2025 to December 18, 2025. Two resolutions are being put to vote. Resolution 1 (Special Resolution) seeks approval to widen the company's main object clause in its Memorandum of Association to include manufacturing, trading, and exporting of a full range of industrial safety products and personal protective equipment (PPE), setting up retail chains and factories for safety products, and entering the energy generation and distribution business (conventional and non-conventional sources like solar, wind, and geothermal). Resolution 2 (Ordinary Resolution) seeks approval for a material related party transaction with Safewell Industries, a proprietorship owned by the son of the company's Managing Director, for the purchase of capital goods worth up to Rs. 5 crore in FY 2025-26. The transaction value is about 2.08% of the company's FY25 consolidated turnover. Safewell Industries makes industrial helmets, safety belts, harnesses, fall shields, and ear muffs, which complement Acknit's existing PPE business. Results will be announced by December 20, 2025.
The MOA amendment signals management's intent to diversify beyond its current PPE business into broader safety products and possibly the energy sector, which could support future revenue growth. The Rs. 5 crore related party purchase from a director's family-owned entity is relatively small at 2.08% of turnover but is worth noting for governance reasons; investors should watch the outcome of the vote.