Outcome of Postal Ballot along with the Scrutinizer Report
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Phaarmasia Ltd announced the results of its postal ballot on October 13, 2025. The single special resolution sought shareholder approval for the sale of the company's land and building, classified as a substantial undertaking. Out of 20,567 total shareholders, promoters holding 5,018,732 shares voted 100% in favour. Among public non-institutional shareholders, 268,464 votes were polled (14.88% turnout), with 84.77% in favour and 15.23% against. Overall, the resolution passed with 99.23% of valid votes cast in favour (5,246,316 votes) and just 0.77% against (40,880 votes). The scrutinizer, NVSS Suryanarayana Rao, confirmed the special resolution was passed with the requisite majority.
The approved sale of a substantial asset (land and building) signals a possible restructuring or monetization move, which could provide a significant cash inflow. Shareholders should watch for further disclosures on sale terms, valuation, and how the proceeds will be utilized.