Meeting Details

  • Date: Monday, September 21, 2026
  • Time: 11:00 a.m. IST
  • Location: Conducted through Video Conferencing (VC) / Other Audio-Visual Means (OAVM)
  • Type: 43rd Annual General Meeting

Proposed Resolutions and Implications

The AGM considered eight resolutions covering both ordinary and special business:

Ordinary Business:

1. Adoption of Audited Standalone and Consolidated Financial Statements for FY2025-26

2. Declaration of dividend @ 20% (₹1 per equity share) for FY2025-26

3. Re-appointment of Shri Ajay Kumar Gupta (DIN: 08619902) as Director retiring by rotation

4. Re-appointment of Shri Suyog K. Kotecha (DIN: 10634964) as Director retiring by rotation

Special Business:

5. Re-appointment of Shri Rashesh C. Gogri (DIN: 00066291) as Non-Executive Director effective October 1, 2026

6. Appointment of Shri Suyog K. Kotecha as Managing Director for 5 years effective October 1, 2026

7. Payment of Profit Related Commission to Non-Executive Directors (Special Resolution)

8. Approval of remuneration payable to Smt. Ketki D. Visariya as Cost Auditor for FY2025-26

Voting Process and Methods

The Company provided shareholders with two voting methods:

  • Remote e-voting: Available for 3 days from September 18, 2026 (9:00 AM) to September 20, 2026 (5:00 PM) via NSDL's platform (www.evoting.nsdl.com)
  • E-voting during AGM: Available for 30 minutes after the conclusion of the meeting proceedings

National Securities Depository Limited (NSDL) served as the Service Provider for both remote e-voting and e-voting during the AGM.

Key Voting Outcomes

Overall Participation:

  • Total shareholders on record date (September 14, 2026): 375,113
  • Total members who cast votes: 724
  • Total shares represented: 26,72,11,851
  • Promoters & Promoter Group attendance via VC: 80 members
  • Public attendance via VC: 121 members

Resolution-wise Results:

Resolution 1 - Adoption of Financial Statements

  • Votes in favor: 26,71,36,589 (99.999%)
  • Votes against: 2,712 (0.001%)
  • Abstained/Less voted: 72,550
  • Result: PASSED

Resolution 2 - Dividend Declaration @ 20%

  • Votes in favor: 26,66,99,101 (99.811%)
  • Votes against: 5,06,313 (0.189%)
  • Abstained/Less voted: 6,437
  • Result: PASSED

Resolution 3 - Re-appointment of Ajay Kumar Gupta

  • Votes in favor: 26,68,54,420 (99.876%)
  • Votes against: 3,30,047 (0.124%)
  • Abstained/Less voted: 27,384
  • Result: PASSED

Resolution 4 - Re-appointment of Suyog K. Kotecha

  • Votes in favor: 26,68,67,923 (99.882%)
  • Votes against: 3,16,544 (0.118%)
  • Abstained/Less voted: 27,384
  • Result: PASSED

Resolution 5 - Re-appointment of Rashesh C. Gogri

  • Votes in favor: 26,58,68,446 (99.508%)
  • Votes against: 13,15,806 (0.492%)
  • Abstained/Less voted: 27,599
  • Result: PASSED

Resolution 6 - Appointment of Suyog K. Kotecha as MD

  • Votes in favor: 26,66,73,870 (99.809%)
  • Votes against: 5,10,597 (0.191%)
  • Abstained/Less voted: 27,384
  • Result: PASSED

Resolution 7 - Profit Related Commission to Non-Exec Directors

  • Votes in favor: 26,71,66,862 (99.993%)
  • Votes against: 17,390 (0.007%)
  • Abstained/Less voted: 27,599
  • Result: PASSED

Resolution 8 - Remuneration to Cost Auditor

  • Votes in favor: 26,71,75,875 (99.997%)
  • Votes against: 8,377 (0.003%)
  • Abstained/Less voted: 27,599
  • Result: PASSED

Scrutinizer's Role and Findings

Kalidas Ramaswami, Partner of M/s. BNP and Associates, Practicing Company Secretaries, was appointed as Scrutinizer by the Board of Directors at their meeting held on July 30, 2026. His responsibilities included:

  • Scrutinizing the remote e-voting and e-voting process in a fair and transparent manner
  • Unblocking votes cast through remote e-voting and e-voting during AGM in presence of witnesses (Mr. Vivek Ramnani and Mr. Jay Sethiya)
  • Preparing consolidated report on voting results
  • Maintaining soft copies of registers received from NSDL

The scrutinizer confirmed that the AGM was conducted in compliance with the Companies Act, 2013, SEBI Listing Regulations, and relevant MCA circulars including General Circular No. 03/2025 and General Circular No. 20/2020.

Compliance Confirmation

The document confirms compliance with:

  • Section 108 of the Companies Act, 2013
  • Companies (Management and Administration) Rules, 2014
  • Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • MCA Circulars permitting AGMs through VC/OAVM

Additional Information

  • Cut-off date for notice dispatch: August 21, 2026 (3,80,928 members)
  • Notice sent by email to 3,71,569 members (97.54% of total members)
  • Newspaper advertisements published in Financial Express (English and Gujarati) on August 20, 2026 and August 28, 2026
  • MUFG Intime India Private Limited serves as Registrar and Share Transfer Agents
  • All resolutions passed with requisite majority as required under applicable laws