MM Forgings Limited has informed the Exchange regarding Proceedings of Postal Ballot. Further, the company has submitted the Exchange a copy of Srutinizers report.
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MM Forgings Limited announced the results of its postal ballot conducted via remote e-voting. Shareholders approved the appointment of Smt. Rama Sivaraman (DIN: 07425519) as a Non-Executive Independent Director for a five-year term effective 31 March 2025, passed as a Special Resolution. The resolution received near-unanimous support, with 34,807,265 shares (99.99%) voted in favor and only 828 shares (0.01%) against. Overall, 72.09% of total outstanding shares (34,808,093 shares) participated in the voting across promoter, public, and institutional categories. The appointment adds a woman independent director to the company's board, strengthening gender diversity and independent oversight.
This is a routine corporate governance update with no material impact on the stock price. The overwhelming shareholder approval signals strong consensus and improves board independence and diversity, which is generally viewed positively by long-term investors.