Agarwal Industrial AGM Passes All Seven Resolutions

Meeting Details

Date: Thursday, September 24, 2026
Time: 12:00 Noon
Location: Conducted through Video Conferencing (VC) / Other Audio Visual Means (OAVM)
Type: Thirty-Second Annual General Meeting

Proposed Resolutions and Implications

The AGM considered seven resolutions:

1. Item No. 1(a): Ordinary Resolution to receive, consider and adopt Audited Standalone Financial Statements for FY ended March 31, 2026 with Reports of Board of Directors and Independent Auditors

2. Item No. 1(b): Ordinary Resolution to receive, consider and adopt Audited Consolidated Financial Statements for FY ended March 31, 2026 with Report of Independent Auditors

3. Item No. 2: Ordinary Resolution to declare Dividend of ₹3.30 per Equity Share of ₹10 each for financial year 2025-26

4. Item No. 3: Ordinary Resolution to appoint Mr. Jaiprakash Agarwal (DIN: 01379868) as Director who retires by rotation

5. Item No. 4: Ordinary Resolution for Appointment of Cost Auditors for Financial Year ending March 31, 2027

6. Item No. 5: Special Resolution for Omnibus Approval for Related Party Transactions for Financial Year 2026-27

7. Item No. 6: Special Resolution for Consent of Members for payment of Remuneration to Mr. Mahendra Agarwal as Non-Executive (Non-Independent) Director

8. Item No. 7: Special Resolution for Adoption of new Main Objects and Ancillary Objects and alteration/amendment of Memorandum of Association

Voting Process and Methods

Remote e-voting period: Monday, September 21, 2026 (09:00 AM) to Wednesday, September 23, 2026 (05:00 PM)
E-voting during AGM: Conducted after declaration of voting by Chairman
Voting facility provided by: National Securities Depository Limited (NSDL)
Cut-off date for voting eligibility: Thursday, September 17, 2026
Shareholders who voted remotely were blocked from voting again during AGM
Results were downloaded from NSDL system in presence of two independent witnesses

Key Voting Outcomes

Overall Participation

Total outstanding shares: 1,49,57,789
Total votes cast: 99,74,534 shares (66.6845% of outstanding shares)
Number of members who voted: 108
No invalid votes were cast

Resolution-wise Results

Item No. 1(a) - Adoption of Standalone Financial Statements

Total votes in favor: 99,74,523 shares (99.9999%)
Votes against: 11 shares (0.0001%)
Promoter voting: 85,55,434 shares (100% in favor)
Public Institutional: 5,186 shares (100% in favor)
Public Others: 14,13,914 shares (99.9992% in favor)

Item No. 2 - Dividend Declaration of ₹3.30 per share

Total votes in favor: 99,72,162 shares (99.9762%)
Votes against: 2,372 shares (0.0238%)
Promoter voting: 85,55,434 shares (100% in favor)
Public Institutional: 5,186 shares (100% in favor)
Public Others: 14,13,914 shares (99.8192% in favor)

Item No. 3 - Re-appointment of Mr. Jaiprakash Agarwal

Total votes in favor: 99,66,976 shares (99.9242%)
Votes against: 7,558 shares (0.0758%)
Promoter voting: 85,55,434 shares (100% in favor)
Public Institutional: 5,186 shares (100% in favor)
Public Others: 14,13,914 shares (98.8192% in favor)

Item No. 4 - Appointment of Cost Auditors

Total votes in favor: 99,74,523 shares (99.9999%)
Votes against: 11 shares (0.0001%)
Promoter voting: 85,55,434 shares (100% in favor)
Public Institutional: 5,186 shares (100% in favor)
Public Others: 14,13,914 shares (99.9992% in favor)

Item No. 5 - Related Party Transactions (Special Resolution)

Total votes cast: 66,64,996 shares (44.5587% of outstanding)
Votes in favor: 66,57,438 shares (99.8192%)
Votes against: 7,558 shares (0.1134%)

Item No. 6 - Remuneration to Mr. Mahendra Agarwal (Special Resolution)

Total votes cast: 63,80,361 shares (42.6558% of outstanding)
Votes in favor: 63,72,803 shares (99.8815%)
Votes against: 7,558 shares (0.1185%)

Item No. 7 - Amendment of Memorandum of Association (Special Resolution)

Total votes in favor: 99,74,523 shares (99.9999%)
Votes against: 11 shares (0.0001%)
Promoter voting: 85,55,434 shares (100% in favor)
Public Institutional: 5,186 shares (100% in favor)
Public Others: 14,13,914 shares (99.9992% in favor)

Shareholder Category Breakdown

Promoter and Promoter Group: 85,55,434 shares (57.32% of total outstanding)
Public-Institutional holders: 3,57,887 shares (2.39% of total outstanding)
Public-Others: 60,44,468 shares (40.29% of total outstanding)

Scrutinizer's Role and Findings

Scrutinizer: CS. P. M. Vala, Company Secretary in practice
Appointment: By Board of Directors at meeting held on August 13, 2026
Responsibility: Ensuring voting process conducted fairly and transparently
Findings: All resolutions passed with requisite majority
Electronic data and records handed over to Company Secretary for preservation

Compliance with Regulations

The voting process complied with:

Section 108 of Companies Act, 2013 and Rule 20 of Companies (Management and Administration) Rules, 2014
Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
MCA Circulars including General Circular Nos. 14/2020, 17/2020, 09/2023, 09/2024, and 03/2025
SEBI Circulars including SEBI/HO/CFD/CMD1/CIR/P/2020/79, SEBI/HO/CFD/CMD2/CIR/P/2021/11, SEBI/HO/CFD/CMD2/CIR/P/2022/62, SEBI/HO/CFD/CFD-PoD-2/P/CIR/2023/167, and SEBI/HO/CFD/CFD-PoD-2/P/CIR/2024/133