Alkali Metals Limited has scheduled an Extra Ordinary General Meeting (EGM) of shareholders on Friday, 13th November 2026 at 11:00 A.M. (IST) to be conducted through video conference/other audio-visual means. The meeting will consider three special business items requiring shareholder approval through special resolutions.

Agenda Item 1: Re-Appointment of Managing Director

The company seeks to reappoint Sri. Y.S.R. Venkata Rao (DIN: 00345524) as Managing Director for a term of 3 years effective from 1st May 2027. The proposed remuneration package includes:

  • Basic Pay: ₹9,07,500 per month
  • H.R.A.: ₹3,02,500 per month
  • Commission: 5% on profits (calculated as per Section 198 of Companies Act, 2013)
  • Medical benefit: Medi-claim policy for ₹5,00,000
  • Insurance: Accidental Insurance for ₹25,00,000
  • Leave Travel: One month's basic pay per year (accumulable up to 2 years)
  • Vehicle: Company car with driver for official use
  • Telephone & Email: Free cell and email service for official use
  • Gratuity: Half month's basic pay for each completed year of service

The resolution authorizes the Board to provide an annual increment of 10% p.a. on this remuneration and allows for payment as minimum remuneration even if it exceeds Schedule V limits, with appropriate compliance approvals.

Agenda Item 2: Appointment of Executive Director

The company proposes to appoint Mr. Y.V. Prashanth (DIN: 00345418) as Executive Director for a term of 3 years effective from 12th October 2026. The proposed remuneration package includes:

  • Basic Pay: ₹6,67,000 per month
  • H.R.A.: ₹1,66,500 per month
  • Medical benefit: Medi-claim policy for ₹5,00,000
  • Insurance: Accidental Insurance for ₹25,00,000
  • Leave Travel: One month's basic pay per year (accumulable up to 2 years)
  • Vehicle: Company car with driver for official use
  • Telephone & Email: Free cell and email service for official use
  • Gratuity: Half month's basic pay for each completed year of service

Similar to Item 1, the resolution authorizes a 10% annual increment and allows for minimum remuneration payment if Schedule V limits are exceeded.

Agenda Item 3: Waiver of Recovery of Remuneration

The company seeks waiver of recovery of remuneration amounting to ₹22,03,075 (Rupees Twenty Two Lakhs Three Thousand and Seventy Five Only) paid/payable to Mr. Y.V. Prashanth for services rendered as Executive Director during the period from 1st June 2026 to 20th August 2026. This amount became refundable pursuant to Section 197(9) of the Companies Act, 2013 after his appointment was not approved by shareholders at the 58th Annual General Meeting held on 21st August 2026.

Explanatory Statement Details

The explanatory statement provides context for each resolution:

  • Item 1: Y.S.R. Venkata Rao's reappointment was previously voted on at the 58th AGM but failed due to low voter turnout (0.19% of total voting power). The Board believes his continued leadership is beneficial given his experience and 67.81% stake in the company.
  • Item 2: Y.V. Prashanth's appointment also failed at the 58th AGM due to low voter turnout. He previously served as Executive Director from 2021 to 2024 and is a third-generation promoter of the company.
  • Item 3: The remuneration was paid in good faith based on Board appointment, and the Board recommends waiver of recovery as services were actually rendered.

Meeting Logistics

The EGM will be conducted through video conference facility hosted from the Registered Office at Plot B-5, Block III, IDA, Uppal, Hyderabad - 500 039. Remote e-voting will be available through CDSL from Tuesday, 10th November 2026 (09:00 A.M.) to Thursday, 12th November 2026 (05:00 P.M.). The cut-off date for determining voting rights is 6th November 2026.

CS B. Venkatesh Babu, Company Secretary in Practice (F6708) has been appointed as Scrutinizer to conduct the voting process. Results will be declared after the meeting and placed on the company website (www.alkalimetals.com) and CDSL website.