Mtar Technologies Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot. Further, the company has informed the Exchange regarding voting results.
MTARTECH · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
MTAR Technologies announced the results of its postal ballot (remote e-voting) concluded on March 20, 2026, with all three special resolutions approved by shareholders with overwhelming majority. The resolutions included: (1) increasing the borrowing limit of the board under Section 180(1)(c) of the Companies Act, passed with 99.998% in favor; (2) seeking approval to create mortgages or charges on the company's assets and undertakings under Section 180(1)(a), passed with 99.969% in favor; and (3) approving payment of commission up to 1% of net profits to Independent Directors, passed with 99.964% in favor. A total of 19,279,336 votes were polled, representing 62.68% of outstanding shares, with the promoter group (8,104,014 votes) and public institutions (11,139,692 votes) voting entirely in favor of all three resolutions. The voting was conducted electronically via CDSL and KFin Technologies, with the scrutinizer's report confirming the requisite majority was met.
Shareholders have given the MTAR Technologies board greater headroom to raise debt and pledge company assets as collateral, which may signal upcoming capacity expansion, acquisitions, or large capital expenditure plans. The near-unanimous approval from promoters and institutions suggests strong internal confidence, though the 1% commission to independent directors will marginally reduce net profits available to equity shareholders.