Manoj Ceramic EGM Results: Preference Share Conversion Approved

Total shares converted: 2,50,000 | Face value per share: Rs 100

Reader Takeaway: Shareholders approved the conversion of 2.5 lakh preference shares to CCPS, altering the company's long-term capital structure.

What just happened

Manoj Ceramic Limited held its Extraordinary General Meeting (EGM) on October 15, 2026. During this session, the company secured shareholder approval for two special resolutions focused on reclassifying existing preference shares. A total of 2,50,000 non-cumulative redeemable preference shares will now be converted into 15% Compulsorily Convertible Preference Shares (CCPS), each with a face value of Rs 100.

Why this matters

The conversion into CCPS indicates a shift in how the company manages its obligations toward preference shareholders. By moving from redeemable instruments to compulsorily convertible ones, the company effectively prepares for future equity dilution, which can help strengthen the balance sheet by reducing immediate cash redemption requirements.

The backstory

The process was facilitated through a remote e-voting period hosted on the PURVA platform between October 12 and October 14, 2026. Managing Director Mr. Dhruv Rakhasiya chaired the meeting, which lasted 13 minutes, signaling strong alignment among the voting participants regarding the proposed capital restructuring.

What to track next

Investors should monitor the upcoming detailed voting results, which the company is mandated to submit to the BSE within two working days. Furthermore, the timeline for the actual conversion process and subsequent impact on equity metrics will be key updates to watch in forthcoming quarterly filings.