Pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015, please find enclosed herewith a copy of Postal Ballot Notice which is being circulated to all the shareholders of the company ....
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True Colors Ltd is seeking shareholder approval via postal ballot for three resolutions. First, the company wants to alter its Memorandum of Association to include manufacturing of inks and allied chemical products (digital textile inks, sublimation inks, dyes, pigments, etc.), marking a strategic shift from a trading-led model to a manufacturing-driven one. Second, the company proposes to increase its borrowing powers from ₹100 Crores to ₹300 Crores to fund expansion into ink manufacturing facilities and meet growing working capital needs, with authorization to create charges on company assets. Third, shareholders are asked to ratify the appointment of M/s B H Kevadiya & Co. as Cost Auditor at a remuneration of ₹80,000 plus taxes for FY 2025-26. The voting period runs from April 10, 2026 to May 9, 2026.
The expansion into ink manufacturing could reduce import dependency and improve margins over time, but the 3x increase in borrowing limits raises leverage concerns in the near term. Shareholders should monitor how borrowed funds are deployed and whether the transition to manufacturing delivers expected returns.