Meeting Details

The 35th Annual General Meeting was held on Wednesday, September 23, 2026, at 03:00 P.M. (IST) through Video Conference / Other Audio Visual Means (VC/OAVM).

Proposed Resolutions and Implications

The AGM considered six resolutions:

  • Item No. 1 (Ordinary Resolution): Adoption of audited financial statements for the financial year ended March 31, 2026, together with Reports of Board of Directors and Auditors.
  • Item No. 2 (Ordinary Resolution): Declaration of final dividend of ₹0.10 per equity share (5% of Equity Share of ₹2 each) for FY 2025-26.
  • Item No. 3 (Ordinary Resolution): Appointment of a director in place of Mrs. Alpana Baid (DIN: 06362806), who retires by rotation.
  • Item No. 4 (Special Resolution): Re-appointment of Mr. Panna Lal Baid (DIN: 00009897) as Chairman and Managing Director.
  • Item No. 5 (Special Resolution): Appointment of Mr. Himanshu Kumar Jain (DIN: 11847212) as an Independent Director (Non-Executive).
  • Item No. 6 (Special Resolution): Alteration of the object clause of the Memorandum of Association.

Voting Process and Methods

The voting process was conducted through:

  • Remote E-voting: Facilitated by Central Depository Services (India) Limited (CDSL) from Saturday, September 19, 2026, at 09:00 A.M. to Tuesday, September 22, 2026, at 05:00 P.M.
  • E-voting at AGM: Provided for shareholders present through VC/OAVM who had not voted remotely.

The cut-off date for determining shareholders entitled to vote was Wednesday, September 16, 2026.

Key Voting Outcomes

Overall Participation

  • Total Shareholders/Folios: 22,802
  • Total Shares: 15,48,88,107
  • Total Votes Cast: 9,76,78,977 shares (63.0642% of outstanding shares)
  • No invalid votes or cases of double voting were recorded.

Resolution-wise Results

Item No. 1: Adoption of Financial Statements

  • Votes in Favor: 9,76,78,902 (99.9999%)
  • Votes Against: 75 (0.0001%)

Item No. 2: Declaration of Final Dividend

  • Votes in Favor: 9,76,78,902 (99.9999%)
  • Votes Against: 75 (0.0001%)

Item No. 3: Appointment of Director (Mrs. Alpana Baid)

  • Total Votes Cast: 9,76,39,477 shares
  • Votes in Favor: 9,76,39,402 (99.9999%)
  • Votes Against: 75 (0.0001%)

Item No. 4: Re-appointment of Chairman & MD (Mr. Panna Lal Baid)

  • Total Votes Cast: 9,76,39,477 shares
  • Votes in Favor: 9,76,38,291 (99.9988%)
  • Votes Against: 1,186 (0.0012%)

Item No. 5: Appointment of Independent Director (Mr. Himanshu Kumar Jain)

  • Votes in Favor: 9,73,83,763 (99.6978%)
  • Votes Against: 2,95,214 (0.3022%)

Item No. 6: Alteration of MOA

  • Votes in Favor: 9,76,77,791 (99.9988%)
  • Votes Against: 1,186 (0.0012%)

Shareholder Category Breakdown

Promoter and Promoter Group

  • Shares Held: 7,33,99,736
  • Votes Polled: 6,73,89,413 (91.8115% participation)
  • Voted 100% in favor on all resolutions except Item 5 (not applicable as they didn't vote against any)

Public - Institutional Holders

  • Shares Held: 2,95,139
  • Votes Polled: 0 (0% participation)

Public - Others

  • Shares Held: 8,11,93,232
  • Votes Polled: 3,02,89,564 (37.3055% participation)
  • Showed near-unanimous support (99.9998%-100%) for most resolutions
  • Notable opposition: 0.3022% against Mr. Jain's appointment (Item 5)

Scrutinizer's Role and Findings

Mr. Manoj Maheshwari (FCS 3355 | C.P. No. 1971) of V. M. & Associates was appointed as Scrutinizer by the Board of Directors at their meeting held on Thursday, August 13, 2026. His responsibility was to scrutinize the remote e-voting and e-voting at AGM pursuant to Section 108 of the Companies Act, 2013 and Rule 20 of the Companies (Management and Administration) Rules, 2014. He confirmed that all resolutions were passed with requisite majority and deemed passed as of the AGM date.

Compliance Confirmation

The report confirms compliance with:

  • Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • Section 109 of the Companies Act, 2013
  • Rule 21(2) of The Companies (Management and Administration) Rules, 2014
  • MCA General Circular No. 03/2025 dated September 22, 2025
  • Advertisement requirements in Financial Express (English) and Nafa Nuksan (vernacular) newspapers

Additional Information

The electronic voting data and relevant records are in the Scrutinizer's safe custody and will be handed over to the Company Secretary for preservation after the Chairman approves and signs the AGM minutes. The report was uploaded to the company's website www.baidfinserv.com.