Sical Logistics Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot. Further, the company has informed the Exchange regarding voting results along with copy of minutes.
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Sical Logistics has disclosed the results of a postal ballot concluded on May 6, 2025, seeking shareholder approval for a material related party transaction with Pristine Malwa Logistics Park Private Limited. The resolution was passed with 99.63% votes in favour (10,895 votes) and only 0.37% against (40 votes). The transaction involves leasing commercial equipment from Pristine Malwa at up to Rs. 7.74 crore per year (exclusive of taxes) for FY 2025-26 to FY 2029-30, aggregating up to Rs. 24.95 crore per year when combined with prior FY 2024-25 transactions. Notably, the promoter group (holding 58.7 million shares) did not cast any votes, and overall participation was extremely low at just 0.0168% of outstanding shares. The scrutinizer, KRA & Associates, confirmed the resolution was passed with the requisite majority.
The approval allows Sical Logistics to proceed with the related party lease arrangement with Pristine Malwa Logistics Park. However, the extremely low voting turnout (largely from public non-institutional shareholders) means the outcome reflects only a small fraction of the shareholder base. Promoter silence on the vote may attract governance attention, though the resolution technically passed.