Results of Postal Ballot is enclosed.
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Josts Engineering Company conducted a postal ballot via remote e-voting from March 22 to April 20, 2025, seeking shareholder approval for the development of its Thane factory land. The resolution was classified as a Special Resolution under the Companies Act, 2013. Out of 9,978,730 total outstanding shares, 5,144,553 shares (51.56%) were polled. Promoters voted unanimously in favor with all 4,815,720 of their shares (100%). Among public non-institutional holders, 328,833 shares were polled, with 99.9453% voting in favor. Overall, 99.9965% of votes cast were in favor, with just 180 shares voted against. The scrutinizer confirmed the resolution was duly passed with the requisite special majority.
The near-unanimous approval, backed fully by promoters, gives the company a clear go-ahead to develop its Thane factory land, which could unlock long-term value through redevelopment or monetization. For shareholders, this signals management's intent to optimize a key real estate asset, though the actual financial impact will depend on the development plan and future disclosures.