Meeting Details

The 36th Annual General Meeting was held on Tuesday, September 15, 2026, through Video Conferencing/Other Audio-Visual Means at 11:00 A.M. The meeting concluded at 11:30 A.M.

Attendance

Directors Present:

  • Mr. Bhadresh K. Shah (Chairman - Managing Director)
  • Mr. Yashwant M. Patel (Whole-Time Director)
  • Mr. Sanjay S. Majmudar (Non-Executive Director)
  • Mr. Udayan D. Choksi (Independent Director)
  • Mr. Piyush B. Shah (Independent Director)
  • Mr. Nitin C. Shukla (Independent Director)
  • Mr. Malay J. Dalal (Independent Director)
  • Mrs. Bhumika S. Shodhan (Non-Executive Director)
  • Mrs. Khushali S. Solanki (Non-Executive Director)

In Attendance:

  • Mr. S. N. Jetheliya (Company Secretary)
  • Mr. Viren Thakkar (Chief Financial Officer)
  • Mr. Rupen Shah (Partner, BS R & Co., LLP, Statutory Auditors)
  • Mr. Tushar Vora (Secretarial Auditor and Scrutinizer)
  • Mr. Paresh Shukla (Company Secretary of Subsidiary Company)
  • 44 members attended through Video Conferencing

Business Transacted

The following items from the Notice dated May 26, 2026, were transacted:

1. Adoption of Standalone and Consolidated Financial Statements for the Financial Year ended March 31, 2026, along with reports of the Board of Directors and Auditors

2. Declaration of Dividend on Equity Shares @ ₹16 per share for the Financial Year ended March 31, 2026

3. Re-appointment of Mrs. Bhumika Shyamal Shodhan, a Director retiring by rotation

4. Ratification of remuneration payable to Cost Accountant

5. Re-appointment of Mr. Bhadresh K. Shah as Managing Director of the Company for a period of five years

Key Proceedings

  • The Chairman confirmed the meeting was conducted as per MCA and SEBI circulars for virtual meetings
  • The Register of Directors, KMP, Shareholding of Directors & KMP, and Contracts were made available electronically for inspection
  • Auditors' Reports and Secretarial Auditors' Report for FY 2025-26 contained no qualifications or adverse observations
  • One shareholder raised questions regarding company debt, technology, production, and actions regarding the closed plant of subsidiary Welcast Steels Limited
  • Mr. Sanjay S. Majmudar responded to shareholder queries, with the shareholder expressing satisfaction

Voting Process

  • Remote e-voting was conducted from September 11, 2026 (9:00 A.M.) to September 14, 2026 (5:00 P.M.)
  • Facility to vote during the meeting remained open up to 30 minutes from conclusion
  • Mr. Tushar M. Vora was appointed as scrutinizer for remote e-voting and e-voting during the AGM
  • Results will be announced within statutory timelines and intimated to stock exchanges and company website

Financial Impact

Dividend declaration of ₹16 per equity share represents a cash outflow to shareholders. The financial impact of the dividend payment is not quantified in the disclosure.