Meeting Details

The 38th AGM will be held on Friday, September 18, 2026, at 03:30 PM (IST) through Video Conferencing/Other Audio Visual Means without physical presence of members. The deemed venue is the company's registered office at Survey No. 86, Plot No. 1 to 4, 8B National Highway, Near Microwave Tower, Shapar (Veraval), Dist. Rajkot, Gujarat, India 360024.

E-Voting Arrangements

The company is providing e-voting facility (remote e-voting and e-voting during AGM) through NSDL. Remote e-voting commences at 09:00 AM (IST) on September 15, 2026, and ends at 5:00 PM (IST) on September 17, 2026. The cut-off date for determining members entitled to vote is September 11, 2026.

Agenda Items

Ordinary Business:

1. Consideration and adoption of audited standalone financial statements for the financial year ended March 31, 2026, together with Board's Report and Auditors' Reports.

2. Consideration and adoption of audited consolidated financial statements for the financial year ended March 31, 2026, and Auditors' Reports.

3. Declaration of final dividend of ₹3.00 (Rupees Three Only) per equity share of face value ₹5.00 each for financial year 2025-26.

4. Re-appointment of Shri Neeraj J Chandra (DIN: 00065159) as a Director retiring by rotation.

Special Business:

5. Re-appointment of Shri Mahendra J Patel (DIN: 00057735) as Whole-Time Director and Chief Financial Officer for a period of 3 years from April 1, 2027, to March 31, 2030, with proposed remuneration of ₹52,80,000 per annum (CTC basis), plus health insurance premium up to ₹40,000 and personal accident cover premium up to ₹30,000 yearly. His current remuneration is ₹66,11,000 per annum (FY 2025-26).

6. Re-appointment of Shri Gurudeo Madhukar Yadwadkar (DIN: 01432796) as Independent Director for a second term of 3 years up to August 9, 2029.

7. Lease of manufacturing unit - Approval to lease the company's industrial non-agriculture land admeasuring approximately 13 Acres with building and utility connections at Plot No. 1 to 4, Survey No. 86, New Survey No. 678 and 679, Near Microwave Tower, Rajkot - Gondal Highway, Village Shapar (Veraval), Dist. Rajkot, Gujarat, for a period of five years. The written down value of the land and building is approximately ₹6.02 Crore as of March 31, 2026.

8. Material Related Party Transactions with Khushbu Auto - Approval for sale/supply of vehicles/chassis/spares/engines/services/payment of incentives/commission/warranty/sales promotion etc. to Khushbu Auto (a related party where promoter group members hold 80% and 20% stakes) for an aggregate value up to ₹120 Crore during FY 2026-27. Previous transactions: ₹36.09 Crore in FY 2025-26 and ₹18.53 Crore from April 1, 2026, to June 30, 2026.

Dividend Details

  • Record Date for final dividend: September 11, 2026
  • Dividend will be paid only through electronic mode
  • TDS will be deducted as per Income Tax Act, 2025
  • No tax deduction if dividend does not exceed ₹10,000 or with Form 121 submission
  • Members must update PAN, bank details, and KYC information

Corporate Action Information

  • The company transferred unpaid/unclaimed dividend amounts to IEPF: ₹74,903 (Final Dividend 2017-18) and ₹1,33,930 (Interim Dividend 2018-19)
  • Shares will be issued only in dematerialized form for all service requests
  • Special window for re-lodgement of transfer of physical shares available until February 4, 2027

Governance Information

  • Hardik Hudda (ICSI Membership No.: A39621, CP No: 14697) appointed as Scrutinizer for e-voting process
  • Results will be declared within two working days from conclusion of the meeting
  • All documents referred to in the notice are available for electronic inspection

Shareholder Services Information

  • RTA: MUFG Intime India Private Limited
  • Investor self-service portal: 'SWAYAM' at https://swayam.in.mpms.mufg.com/
  • Chatbot facility: 'iDIA' available at https://in.mpms.mufg.com
  • Online Dispute Resolution Portal available at https://smartodr.in/login

Financial Impact

  • Dividend payout: ₹3.00 per share (amount not quantified in disclosure)
  • Lease arrangement expected to generate additional revenue stream
  • Related party transaction cap: ₹120 Crore for FY 2026-27