United Drilling Tools Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot. Further, the company has informed the Exchange regarding voting results.
UNIDT · price
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United Drilling Tools Limited has announced the results of its postal ballot conducted through remote e-voting between March 1 and March 30, 2026. All four special resolutions were approved with overwhelming majority of 99.99% votes in favour. The resolutions include: (1) re-appointment of Mr. Ved Prakash Mahawar as Non-Executive & Independent Director, (2) re-appointment of Mrs. Preet Verma as Non-Executive & Independent Women Director, (3) approval of related party transactions with M/s Oil Drilling Consultancy Services (a firm of Non-Executive Director Shri Pramod Kumar Gupta), and (4) approval of material related party transactions with M/s Parveen Industries Private Limited. For director re-appointments, 75 members voted with 1.59 crore valid votes, while for related party transactions, 72 members voted with 7.78 lakh valid votes and 3 members holding 1.51 crore shares were recorded as invalid (likely the related parties themselves, who are prohibited from voting on such resolutions).
Shareholders have firmly backed the re-appointment of two independent directors and approved the company's related party transactions, indicating strong institutional and shareholder confidence in the board and management. The postal ballot outcome is procedurally complete and should not materially impact the stock price, though retail investors may want to review the nature of the related party transactions for governance transparency.