Sharda Motor Industries Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot
SHARDAMOTR · price
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Sharda Motor Industries announced the results of its postal ballot conducted via remote e-voting, which closed on June 25, 2025, with results declared on June 26, 2025. All three resolutions were approved: (1) Re-appointment of Mrs. Sarita Dhuper as Non-Executive Independent Director passed with 99.98% support, (2) Payment of Commission to Non-Executive Directors passed with 94.17% support, and (3) Issue of Bonus Equity Shares to shareholders passed with 99.38% support. Total voting turnout was healthy at 78% of outstanding shares (22.39 million out of 28.70 million shares). The commission resolution saw notable dissent from institutional investors (34% voted against), but both the director re-appointment and the bonus issue received near-unanimous support across all shareholder categories.
The bonus share issuance is a positive development for shareholders, rewarding them with additional equity at no extra cost. Investors should watch for the upcoming record date and bonus ratio announcement. Broad-based approval signals strong shareholder confidence in the company's direction, though institutional pushback on executive compensation may warrant a closer look at pay practices.