M & B Engineering Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot. Further, the company has informed the Exchange regarding voting results.
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M & B Engineering Limited conducted a postal ballot e-voting from February 17, 2026 to March 18, 2026 on two special resolutions related to the Employee Stock Option Plan 2024. The first resolution sought ratification of the ESOP Plan 2024 itself, while the second sought ratification of granting stock options to employees of group companies, subsidiaries, associates, and the holding company. Both resolutions were passed with strong shareholder support — 4,41,62,578 shares (97.08%) voted in favour and only 13,27,999 shares (2.92%) voted against each. Promoters voted 100% in favour, public institutions showed 74.42% support, and public non-institutions showed 97.38% support. The scrutinizer Kashyap R. Mehta & Partners certified the results on March 19, 2026.
The ESOP Plan 2024 and grants to group company employees are now formally approved, which could lead to future share dilution as options vest and are exercised. For shareholders, the high approval percentage (over 97%) signals broad confidence in the management's compensation strategy, though investors should monitor future grants and dilution impact on earnings per share.