Sical Logistics Limited has informed the Exchange regarding Notice of Postal Ballot
SICALLOG · price
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Sical Logistics has sent a postal ballot notice to shareholders seeking approval for a material related party transaction with Pristine Malwa Logistics Park Private Limited, its promoter and intermediate holding company (which holds 90% of Sical). The transaction involves leasing commercial equipment (dumpers, excavators, tankers, bulldozers, graders) on an arm's-length basis, with 42 units already leased in March 2025 (worth Rs 1.43 crore) and 17 additional units planned for FY2025-26. The total lease value is up to Rs 24.95 crore per financial year over a 5-year period (FY2025-26 to FY2029-30), representing 11.28% of Sical's annual consolidated turnover for FY ending March 31, 2024. As the aggregate exceeds 10% of consolidated turnover, shareholder approval is required under SEBI Listing Regulations. Remote e-voting runs from April 7, 2025 to May 6, 2025, with the cut-off date set as March 28, 2025. Related parties will not be permitted to vote on this resolution.
Shareholders need to review and vote on this material related party transaction by May 6, 2025. While the transaction is in the ordinary course of business and at arm's-length pricing, it represents a significant portion of turnover and strengthens the operational tie between Sical and its parent group. Approval is expected to support Sical's project execution and revenue, though investors should note that related parties (including the 90% parent Pristine Malwa) cannot vote on this resolution.