Power Mech Projects: 3 of 4 Special Resolutions Failed in Postal Ballot
Power Mech Projects Limited's postal ballot results show three Special Resolutions, including those for the PMPL ESOP -2026 plan, failed to pass. The resolution to increase borrowing powers and create security was approved. Voting for the ESOPs saw 71.70% assent and 28.30% dissent.
The failure of the ESOP-related resolutions could impact employee motivation and future capital raising through equity. However, the approval of the borrowing powers resolution partially mitigates the overall negative impact.
The failure of three out of four Special Resolutions, particularly those related to employee stock options, indicates a lack of shareholder consensus or approval for significant company proposals, which is a negative development.
Power Mech Projects Limited has submitted the Scrutinizer's report dated December 23, 2025, regarding the postal ballot voting process conducted via remote e-voting. The Notice of Postal Ballot was issued on November 10, 2025, and shareholders voted between November 21, 2025, and December 20, 2025. The e-voting facility was managed by National Securities Depository Limited (NSDL).
Based on the voting results, three out of the four Special Resolutions proposed were not passed. Specifically, resolutions related to the formulation, adoption, and implementation of the “Power Mech Projects Limited - Employee Stock Option Plan -2026” (PMPL ESOP -2026) for employees of the company, its subsidiaries/associates/holding companies, and for granting stock options exceeding 1% of the issued capital, failed to achieve the required majority. The voting indicated that 71.70% of valid votes were in favor, while 28.30% were against these three resolutions.
However, the Special Resolution pertaining to the increase in Borrowing Powers and Creation of Security was passed with a significant majority, receiving 87.64% of the valid votes in favor and 12.36% against. The Scrutinizer's report was submitted to the stock exchanges on December 23, 2025.
What to do with a filing like this
Power Mech Projects Limited filed this with the NSE as a statutory disclosure, categorised under shareholder meetings. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Power Mech Projects Limited. Read the original for the full detail.