Please find enclosed Intimation of Voting Results and Scrutinizer Report
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Spice Islands Industries Ltd conducted a Postal Ballot through remote e-voting, with voting ending on November 12, 2025. Both Special Resolutions were passed with the requisite majority. Resolution 1 approved the appointment of Mr. Dipesh Dalvi (DIN: 08572894) as a Non-Executive Independent Director for a five-year term, with 91.34% of votes in favour. Resolution 2 approved adding a new clause under the Main Objects (Clause 3A) of the Memorandum of Association, with 95.92% of votes in favour. Notably, the voter turnout was extremely low — only 2,183 shares out of 4,300,000 outstanding shares (0.05%) were polled, and the entire promoter group holding 2,687,390 shares did not vote at all. Only public non-institutional shareholders cast votes.
The director appointment strengthens the board's independent oversight, while the MoA amendment gives the company flexibility to expand into new business areas. However, the very low voting turnout (0.05%) and zero participation from promoters may be flagged by investors as a sign of weak shareholder engagement, though both items were approved by overwhelming majority among those who voted.