Meeting Details

The 30th AGM of the Company was held on Saturday, September 26, 2026, commencing at 3:00 P.M. and concluding at 04:25 P.M. The meeting was conducted through Video Conferencing/ Other Audio Visual Means (VC/OAVM).

Summary of Proposed Resolutions and Implications

Five resolutions were proposed for shareholder approval:

1. Resolution No.1 (Ordinary Resolution): To receive, consider and adopt the Audited Financial Statements of the Company on a standalone and consolidated basis for the financial year ended March 31, 2026, and the reports of the Board of Directors and Auditors thereon.

2. Resolution No.2 (Ordinary Resolution): To appoint a Director in place of Ms. Aishwarya Shivaji Akhade (DIN 07995385), who retires by rotation and offered herself for re-appointment.

3. Resolution No.3 (Special Resolution): Approval of payment of commission to the Non-Executive Directors of the Company for the financial year 2025-26.

4. Resolution No.4 (Special Resolution): To reappoint Mr. Shivaji Tukaram Akhade (DIN: 00006755) as Managing Director.

5. Resolution No.5 (Special Resolution): To re-appoint Mr. Sudhir Vitthal Mungase (DIN: 00006754) as a Whole-time Director.

Voting Process and Methods Used

The voting process involved two methods:

  • Remote e-Voting: Conducted via the NSDL platform between Wednesday, September 23, 2026, at 09:00 a.m. and Friday, September 25, 2026, at 05:00 p.m.
  • E-Voting at the Meeting: Shareholders who had not voted remotely were allowed to cast their votes through electronic means during the AGM.

Key Voting Outcomes

Based on the Scrutinizer's Consolidated Report received on September 28, 2026, all resolutions were approved by the shareholders.

Overall Participation

  • Total Outstanding Shares: 45,375,401
  • Total Votes Polled: 15,329,618
  • Overall Voter Participation: 33.78%

Resolution-Wise Results

Resolution No.1: Adoption of Financial Statements

  • Result: Passed as Ordinary Resolution.
  • Total Votes in Favour: 15,292,374 (99.76% of votes polled)
  • Total Votes Against: 37,244 (0.24% of votes polled)
  • Category-wise Breakdown:
  • Promoter & Promoter Group: 14,792,588 votes polled (100% of their holding). 100% in favour.
  • Public - Institutions: 56,787 votes polled (51.99% of their holding). 100% in favour.
  • Public - Non-Institutions: 480,243 votes polled (1.578% of their holding). 92.24% in favour, 7.76% against.

Resolution No.2: Re-appointment of Ms. Aishwarya Shivaji Akhade

  • Result: Passed as Ordinary Resolution.
  • Total Votes in Favour: 15,292,369 (99.76% of votes polled)
  • Total Votes Against: 37,249 (0.24% of votes polled)
  • Category-wise Breakdown:
  • Promoter & Promoter Group: 14,792,588 votes polled (100% of their holding). 100% in favour.
  • Public - Institutions: 56,787 votes polled (51.99% of their holding). 100% in favour.
  • Public - Non-Institutions: 480,243 votes polled (1.578% of their holding). 92.24% in favour, 7.76% against.

Resolution No.3: Commission to Non-Executive Directors

  • Result: Passed as Special Resolution.
  • Total Votes in Favour: 15,292,369 (99.76% of votes polled)
  • Total Votes Against: 37,249 (0.24% of votes polled)
  • Category-wise Breakdown:
  • Promoter & Promoter Group: 14,792,588 votes polled (100% of their holding). 100% in favour.
  • Public - Institutions: 56,787 votes polled (51.99% of their holding). 100% in favour.
  • Public - Non-Institutions: 480,243 votes polled (1.578% of their holding). 92.23% in favour, 7.77% against.

Resolution No.4: Reappointment of Mr. Shivaji Tukaram Akhade as MD

  • Result: Passed as Special Resolution.
  • Total Valid Votes Polled: 8,379,637 (18.47% of outstanding shares)
  • Total Votes in Favour: 8,342,388 (99.56% of valid votes polled)
  • Total Votes Against: 37,249 (0.44% of valid votes polled)
  • Invalid Votes: 6,949,981 votes cast by Mr. Shivaji Akhade were deemed invalid pursuant to Regulation 23(4) of SEBI LODR and the Second Proviso to Section 188(1) of the Companies Act, 2013.
  • Category-wise Breakdown (Valid Votes):
  • Promoter & Promoter Group: 7,842,607 valid votes polled (53.02% of their holding). 100% in favour.
  • Public - Institutions: 56,787 valid votes polled (51.99% of their holding). 100% in favour.
  • Public - Non-Institutions: 480,243 valid votes polled (1.578% of their holding). 92.24% in favour, 7.76% against.

Resolution No.5: Reappointment of Mr. Sudhir Vitthal Mungase as WTD

  • Result: Passed as Special Resolution.
  • Total Valid Votes Polled: 9,906,187 (21.83% of outstanding shares)
  • Total Votes in Favour: 9,868,938 (99.62% of valid votes polled)
  • Total Votes Against: 37,249 (0.38% of valid votes polled)
  • Invalid Votes: 5,423,431 votes cast by Mr. Sudhir Mungase were deemed invalid pursuant to Regulation 23(4) of SEBI LODR and the Second Proviso to Section 188(1) of the Companies Act, 2013.
  • Category-wise Breakdown (Valid Votes):
  • Promoter & Promoter Group: 9,369,157 valid votes polled (100% of their voting capacity post-invalidation). 100% in favour.
  • Public - Institutions: 56,787 valid votes polled (51.99% of their holding). 100% in favour.
  • Public - Non-Institutions: 480,243 valid votes polled (1.578% of their holding). 92.24% in favour, 7.76% against.

Scrutinizer's Role and Findings

Sujit Manazhy, Practising Company Secretary, was appointed as the Scrutinizer. His responsibilities included overseeing the remote e-Voting process, overseeing the e-voting conducted at the AGM, and counting and reconciling all votes. He generated the final report from data on the NSDL e-voting website (https://www.evoting.nsdl.com) and confirmed the accuracy of the results. All electronic records related to the voting were sealed and handed over to the Company Secretary for safekeeping.

Compliance Confirmation

The letter confirms that the voting was conducted and the results are disclosed in terms of Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and the provisions of the Companies Act, 2013 and Rules framed thereunder.