R M Drip and Sprinklers Systems Limited has informed the Exchange regarding Proceedings of Postal Ballot. Further, the company has submitted the Exchange a copy of Srutinizers report along with voting results.
RMDRIP · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
R M Drip and Sprinklers Systems Limited announced the results of its postal ballot concluded on 3rd April 2026, with all four resolutions approved by shareholders. Of the 51,726 eligible shareholders, about 45.2% of outstanding shares participated in voting. Resolution 1 (Increase in Authorised Share Capital) passed with 99.96% in favour. Resolution 2 (Issue of Bonus Equity Shares) passed with 99.97% in favour — the most significant one for retail investors. Resolution 3 (Appointment of Mr. Atharva Nivrutti Kedar as Managing Director) passed with 99.92% in favour, though promoter group votes were treated as invalid since he is a related party. Resolution 4 (Appointment of Ms. Neha Karekar Pramod as Independent Women Director) passed with 99.96% in favour. The Scrutinizer's report was issued by CS Nuren Lodaya.
The approval of bonus equity shares is positive for shareholders as it increases the number of shares held without additional cost, often interpreted as a sign of management confidence. The authorised share capital hike is a necessary step to facilitate the bonus issue. Both director appointments strengthen governance, with the new Managing Director formalised and an independent women director added to the board.