Meeting Details

The 34th Annual General Meeting was held on Friday, 31st July, 2026 through Video Conferencing (VC) / Other Audio Visual Means (OAVM). The meeting commenced at 11:00 AM and concluded at 11:37 AM at the registered office of the Company at Vadodara Halol Highway, Baska, Panchmahals - 389350, Gujarat.

Attendance

Directors Present:

  • Ms. Deepti Sharma, Independent Director & Chairperson
  • Mr. Ajay Nalin Parikh, Executive Director
  • Mr. Ajay Naishad Desai, Executive Director
  • Mr. Ameet Nalin Parikh, Non-Executive Director
  • Mr. Ajit Singh Bubber, Non-Executive Director
  • Mr. Paresh Rajda, Independent Director

Invitees Present:

  • CS Ruchita Tushar Patel, Representative of Ruchita Patel & Associates, Scrutinizers
  • CA V K Shastri, Statutory Auditor & Partner of VRCA & Associates, Chartered Accountants

In Attendance:

  • CS Dharaben Mehulkumar Thakar, Company Secretary & Compliance Officer
  • Mr. Rajendra Bhavsar, CFO

Total Members Attended: 48 members attended through VC

Quorum and Proceedings

The requisite quorum was present as per Section 103(3) of the Companies Act, 2013. The meeting was chaired by Ms. Deepti Sharma, Chairperson of the Company.

Financial Performance Disclosure

The Chairperson informed members that the Company reported:

  • Revenue: ₹223.77 crores for financial year 2025–26
  • Profit After Tax: ₹31.16 crores for financial year 2025–26

Dividend Declaration

The Board of Directors had declared an interim dividend of ₹12.00 per equity share, which was placed before members to consider as the final dividend for financial year 2025-26.

Business Updates and Strategy

The Chairperson stated that the Company had undertaken expansion of its manufacturing facilities and continued to strengthen:

  • Operational capabilities
  • Technological infrastructure
  • Human resources to support sustainable long-term growth

The Company remains well positioned to capitalize on future opportunities backed by:

  • Healthy order book
  • Strong and enduring customer relationships
  • Expanding manufacturing footprint

Shareholder Interaction

The Company received emails from four Members requesting to be registered as speakers. All four Members successfully joined the meeting and raised queries relating to:

  • Company's financial position
  • Growth strategy
  • Profitability
  • Capital expenditure plans
  • Expansion initiatives
  • New business opportunities
  • Order book
  • Other operational and strategic matters

All queries were addressed by Mr. Ameet Parikh, Director of the Company.

Business Transacted

The following items from the Notice of AGM dated 7th May, 2026 were transacted:

1. Adoption and approval of Audited Financial Statement for year ended 31st March, 2026 with Directors' and Auditors' Reports

2. Re-appointment of Mr. Ameet Nalin Parikh (DIN 00007036) as Director liable to retire by rotation

3. Declaration of interim dividend as final dividend for financial year ended 31st March, 2026

4. Re-appointment of Mr. Ajay Naishad Desai as Whole-time Director for five years

5. Fixation of remuneration of Mr. Ajay Naishad Desai, Whole-time Director

6. Continuation of appointment of Mr. Ajay Nalin Parikh as Whole-time Director

7. Fixation of remuneration of Mr. Ajay Nalin Parikh, Whole-time Director

8. Ratification of remuneration of M/s Diwanji & Co., Cost Auditors for financial year 2026-27

Voting Arrangements

The Company provided participation and e-voting facilities including remote e-voting through MUFG In time India Private Limited. Voting was available during the meeting and for 15 minutes after conclusion for shareholders who had not cast votes via remote e-voting.

M/s. Ruchita Patel & Associates were appointed as Scrutinizer to scrutinize the remote e-voting process and provide combined e-voting results with consolidated scrutinizer's report.

Results Disclosure

The voting results along with Scrutinizer report will be intimated to BSE and uploaded on the company website (www.axtelindia.com). The resolutions shall be deemed passed upon declaration of results.