Pursuant to Regulation 44(3) of SEBI (LODR) Regulations, 2015, please find enclosed herewith Scrutinizers Report along with Voting results of 40th AGM.
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Gujarat Terce Laboratories held its 40th AGM on August 21, 2025 via video conferencing, where all 8 resolutions were passed. Voting turnout was 41.55%, with 30,83,248 shares voted out of 74,20,300 outstanding shares (27,47,527 from promoters and 3,35,721 from public non-institutions). Two special resolutions were approved with 100% support: (1) the sale of the company's factory at Ravi Estate, Bileshwarpura, Chhatral, Gandhinagar, and (2) approval of increased limits for loans and investments under Section 186 of the Companies Act. Other resolutions included adoption of FY25 audited financials, re-appointment of statutory auditors, appointment of a secretarial auditor, regularization of an independent director, ratification of cost auditor remuneration, and re-appointment of a rotating director. Notably, for the director re-appointment resolution, 89.11% of promoter votes (27,47,527 shares) were classified as 'invalid' because the promoter group was deemed interested in that resolution, though the resolution still passed with 100% of valid votes in favour.
The approved factory sale is a material strategic decision that could reshape the company's operations and free up capital, while the Section 186 resolution gives management greater flexibility for future investments and lending. Shareholders should watch for further disclosures on the sale terms and use of proceeds, as the outcome could meaningfully affect the company's business profile.