This not unusal. I have this in one of board meeting of Care Rating as well. If meeting is called at 9 pm, then it can easily carry for 4 to 5 hours, which mean it conclude on 1 am or 2 am on next day. The key piece in such case is it now when meeting begin? In Bank and credit rating and also some other industry, Board take many decision about finance, policies in which case detailed discussion easily go over 7-8 hours in my view, and that is fine. It would also depend on business of board meet. In case the board discuss acquisition or sell of division, in case of healthy board, one shall expected detailed disucssion which can easily extend for long period. So per se, extending board meeting over two days is not negative in my view. However, it shall also depend on agenda. Certain time, even simple business like approving financial with Ind-AS or new accouting standard along with explanation of new policy and impact can also lead to healthy disucssion, in case board members are really invovled and concen for the company. However for small company like the name you shared, one need to understand which item resulted in such long discussion?
One red flag for me is a nominal dividend of 10 paise or 5paise when Eps is more than Rs 3. I would be very cautious for such companies.
