AXTEL INDUSTRIES LIMITED

AGM Approvals

The following matters were approved at the AGM:

1. Adoption of audited financial statements for the financial year ended 31 March 2026, along with reports of Board of Directors and Auditors.

2. Re-appointment of Mr. Ameet Nalin Parikh (DIN: 00007036) as Director who retired by rotation.

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

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

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

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

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

8. Ratification of Cost Auditors' remuneration for financial year 2026-27.

Director Appointment Details

Mr. Ajay Naishad Desai:

  • Date of appointment: Effective from 1 March 2027
  • Term: From 1 March 2027 to 28 February 2032 (5 years)
  • Profile: Electrical Engineer from The Maharaja Sayajirao University, Vadodara with over 45 years of experience in process and equipment design for food, dairy and pharmaceutical industries. Associated with Axtel Industries since its inception in 1992. Has extensive experience in designing and developing process equipment and systems for leading domestic and multinational food processing companies.
  • Relationship disclosure: None of the Directors or KMP are directly related to Mr. Ajay Naishad Desai.

Mr. Ajay Nalin Parikh:

  • Continuation of appointment under section 196(3)(a) of Companies Act, 2013
  • Term: Until 31 July 2028 (remaining period of his tenure)
  • Profile: Mechanical Engineer from The Maharaja Sayajirao University of Baroda with over 45 years of experience in design, engineering and manufacturing of process equipment and plants for food, dairy and pharmaceutical industries. Associated with Axtel Industries since its inception in 1992. Played key role in establishing and expanding the company's manufacturing facilities. Under his technical leadership, the company developed indigenously designed, import-substitute process equipment.
  • Relationship disclosure: Mr. Ameet Nalin Parikh (Director) is the brother of Mr. Ajay Nalin Parikh.

Additional Information

The detailed disclosures are provided in Annexure 1 to the intimation and are available on the company website: www.axtelindia.com.