Postal Ballot-Scrutinizer''s Report
WPIL · price
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WPIL Ltd has completed its postal ballot process with all 6 resolutions passed with overwhelming shareholder approval (over 99.95% votes in favor on each). The resolutions include the re-appointment of Mr. Prakash Agarwal as Managing Director and Mr. K.K. Ganeriwala as Executive Director for 3 years (Nov 1, 2025 to Oct 31, 2028). The remaining 4 resolutions relate to capital restructuring: reclassification of 14,000 unissued 11% redeemable cumulative preference shares into 14,00,000 equity shares, and an increase in authorized share capital from Rs. 10.5 crore to Rs. 12 crore through creation of an additional 1.5 crore equity shares of Re. 1 each. Voting was conducted via remote e-voting from December 30, 2025 to January 28, 2026, with P.V. Subramanian acting as the Scrutinizer.
The near-unanimous approval reflects strong shareholder confidence in the current management and signals continuity in leadership for the next 3 years. The capital restructuring expands the company's equity headroom, giving it flexibility to raise funds or issue bonus shares in the future, which could be dilutive if new shares are issued but currently is just an enabling step.