Avance Technologies Ltd

Resolutions and outcomes

• Purpose: postal ballot for statutory auditors, MD, and independent director appointments.
• Item 1 (Ordinary): Appoint Statutory Auditors M/s A. Raghavendra Rao & Associates.
• Outcome: Approved; votes in favour 1,13,09,299; against 2,47,194.
• Item 2 (Special): Appoint Santosh Hambare as Managing Director.
• Outcome: Passed; votes in favour 1,72,86,978; against 2,49,515.
• Item 3 (Special): Appoint Dipak Gaikwad as Non-Executive Independent Director.
• Outcome: Passed; votes in favour 1,11,95,954; against 2,74,639.
• Record date: 26 June 2026; e-voting window: 1 July–14 Aug 2026.

Standalone results

• Standalone Q1 2026: Revenue from operations 1,788.70 L, Total Income 1,882.87 L.
• Purchases of stock-in-trade 1,788.57 L; Total Expenses 1,854.92 L; Profit before tax 27.96 L.
• Tax expenses 0.00; Profit after tax 27.96 L; Total Comprehensive income 27.96 L.
• Basic EPS 0.00; Diluted EPS 0.00.

Consolidated results

• Consolidated Q1 2026: Revenue from operations 6,064.73 L; Total Income 6,158.90 L.
• Purchases of stock-in-trade 5,297.01 L; Total Expenses 5,912.31 L; Profit before tax 246.59 L.
• Tax expenses 0.00; Profit after tax 246.59 L; Total Comprehensive income 246.59 L.
• Basic EPS 0.01; Diluted EPS 0.01.
• Consolidated results include Avance Ventures Pvt Ltd, Verticore Technologies Pvt Ltd, Avance Platforms Pvt Ltd.

Dematerialisation status

• Security received for dematerialisation during the reporting quarter were processed and confirmed to the depositories.
• Dematerialised securities were listed on the stock exchanges where the securities are listed.
• Physical certificates were mutilated and cancelled; depositories updated registered ownership within prescribed timelines.

Purpose & process

• Seeking shareholder approval via postal ballot and e-voting for three resolutions.
• Cut-off date for eligibility: 26 June 2026; voting window: 16 July–14 August 2026.

Resolutions

• Item 1 (Ordinary): Appoint M/s. A. Raghavendra Rao & Associates as Statutory Auditors to fill casual vacancy.
• Item 2 (Special): Appoint Santosh Hambare as Managing Director for five years from 30 June 2026.
• Item 3 (Special): Appoint Dipak Gaikwad as Non-Executive Independent Director for five years from 30 June 2026.

Director appointments – profiles

• Santosh Hambare – Managing Director, 5-year term from 30 Jun 2026; finance and governance experience.
• Dipak Gaikwad – Non-Executive Independent Director, 5-year term; independence confirmed.

Key terms & governance impact

• Remuneration up to Rs 5,00,000 per year for Santosh Hambare, per Schedule V.
• Auditor appointment to fill casual vacancy until next AGM.
• New independent director enhances governance oversight.

Key Decisions

• Seek member approval for appointment of M/s A. Raghavendra Rao & Associates as Statutory Auditors.
• Seek member approval for appointing Mr. Santosh Hambare as Managing Director.
• Regularize Dipak Gaikwad's appointment as Non-Executive Independent Director, subject to member approval.
• Approved Postal Ballot Notice for member approvals via postal ballot and remote e-voting.
• Remote e-voting window: 16 Jul 2026, 9:00 AM to 14 Aug 2026, 5:00 PM IST.
• E-voting cut-off date for eligibility: 26 Jun 2026.
• Appointed M/s Sidhi Maheshwari & Associates as Scrutinizer for Postal Ballot.
• Dispatch date of Postal Ballot Notice: 13 July 2026.
• Result deemed passed on 14 August 2026; Scrutinizer report due 18 August 2026.
• Declaration of postal ballot results by Chairman on 18 August 2026.

Designation change: Latesh Poojary

• Changed from Managing Director to Non-Executive Director, effective 30 June 2026.
• Certificate of non-debarment received.

Appointment: Santosh Hambare as Managing Director

• Appointed as Managing Director; effective 30 June 2026; five-year term, subject to shareholder approval.
• Profile: Santosh Hambare; accounting professional; director at Aris International Limited.
• Not debarred from holding director's office.

Appointment: Santosh Hambare as Chief Financial Officer

• Appointed Chief Financial Officer; effective 30 June 2026.
• Profile: Santosh Hambare; accounting professional; director at Aris International Limited.

Appointment: Dipak Gaikwad as Additional Non-Executive and Independent Director

• Appointed as Additional Non-Executive and Independent Director; effective 30 June 2026; five-year term, subject to shareholder approval.
• Profile: Dipak Gaikwad; independent director with governance expertise.
• Reason: broaden board's professional expertise and independent oversight.
• Not debarred; certificate of non-debarment attached.