Meeting Details

The 39th Annual General Meeting (AGM) of Bal Pharma Limited was held on September 24, 2026, at 11:30 A.M. through Video Conferencing/Other Audio-Visual Means (VC/OAVM).

Proposed Resolutions and Implications

Seven resolutions were proposed and passed at the meeting:

Ordinary Business:

1. To receive, consider and adopt the Audited Standalone and Consolidated Financial Statements for the financial year ended March 31, 2026, together with the Reports of the Board of Directors and the Auditors thereon. (Ordinary Resolution)

2. To declare a dividend of ₹1.20 per Equity Share of ₹10/- each. (Ordinary Resolution)

3. To re-appoint Mr. Ravindra Kumar Kothari (DIN: 03418320), who retires by rotation, as a Director of the Company. (Ordinary Resolution)

Special Business:

4. To ratify the remuneration payable to the Cost Auditors for the Financial Year 2026-27. (Ordinary Resolution)

5. To renew the contract with M/s. Desa Marketing International. (Ordinary Resolution)

6. To approve the change in designation of Mr. Ravindra Kumar Kothari (DIN: 03418320) from Non-Executive Director to Whole-Time Director. (Special Resolution)

7. To approve the change in designation of Mr. Virupakshaya Himesh (DIN: 08554422) from Whole-Time Director to Non-Executive Director. (Special Resolution)

Voting Process and Methods

The voting process was conducted in two phases:

1. Remote E-Voting: Facility was provided by National Securities Depository Limited (NSDL) and was open from Monday, September 21, 2026, at 9:00 A.M. (IST) until Wednesday, September 23, 2026, at 5:00 P.M. (IST).

2. E-Voting during the AGM: Facility was provided for members present at the virtual AGM who had not cast their votes via remote e-voting.

The cut-off date for determining members eligible to vote was September 17, 2026.

Key Voting Outcomes

Overall Participation:

  • Total Members who voted: 61 (60 via remote e-voting, 1 during the AGM)
  • Total Votes Polled (Shares): 8,145,113
  • Percentage of Votes Polled on Outstanding Shares: 51.1600%

Resolution-wise Results:

| Sr. No. | Resolution Description | Type | % Votes in Favor | % Votes Against | Result |

| 1 | Adoption of Financial Statements | Ordinary | 100.00% | 0.00%* | Passed |

| 2 | Declaration of Dividend (₹1.20/share) | Ordinary | 100.00% | 0.00%* | Passed |

| 3 | Re-appointment of Mr. R. K. Kothari | Ordinary | 99.75% | 0.25% | Passed |

| 4 | Ratification of Cost Auditor Remuneration | Ordinary | 100.00% | 0.00%* | Passed |

| 5 | Renewal of contract with Desa Marketing International | Ordinary | 99.44% | 0.56% | Passed |

| 6 | Change in designation of Mr. R. K. Kothari | Special | 99.75% | 0.25% | Passed |

| 7 | Change in designation of Mr. V. Himesh | Special | 100.00% | 0.00%* | Passed |

\* Negligible

Category-wise Voting Breakdown (Illustrative - Resolution 1):

| Shareholder Category | Mode | Shares Held | Votes Polled | % Polled | Votes For | Votes Against | % For | % Against |

| Promoter & Promoter Group | E-Voting | 8,097,182 | 8,097,182 | 100.00% | 8,097,182 | 0 | 100.00% | 0.00% |

| Public Institutions | E-Voting | 21,556 | 20,661 | 95.85% | 20,661 | 0 | 100.00% | 0.00% |

| Public Non-Institutions | E-Voting | 7,802,124 | 27,270 | 0.35% | 27,201 | 69 | 99.75% | 0.25% |

| TOTAL | All | 15,920,862 | 8,145,113 | 51.16% | 8,145,044 | 69 | 99.9992% | 0.0008% |

Note: Detailed breakdowns were provided for all resolutions, showing similar high promoter participation and varying public institution/Non-Institution dissent on specific resolutions (3, 5, 6).

Scrutinizer's Role and Findings

Mr. Parameshwar Bhat, Practicing Company Secretary (Membership No. FCS 8860, CP No. 11004), was appointed as the Scrutinizer to scrutinize the remote e-voting and e-voting process during the AGM in a fair and transparent manner.

The Scrutinizer submitted his Consolidated Report dated September 24, 2026, which was used to declare the results. The report confirmed that all resolutions were passed by the requisite majority. All relevant e-voting records were handed over to the Chairman or Company Secretary for preservation.

Compliance Confirmation

The conduct of the meeting and the voting process complied with:

  • Section 108 & 109 of the Companies Act, 2013
  • Rule 20 of the Companies (Management and Administration) Rules, 2014
  • Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • Relevant MCA General Circulars (including No.19/2021, No.14/2020, No.17/2020, No.20/2020, No.02/2021, No.03/2022, No.11/2022, No.09/2024, and No.03/2025)
  • Relevant SEBI Circulars (dated May 12, 2020; January 15, 2021; May 13, 2022; September 25, 2023; and October 3, 2024)

These circulars permitted the holding of the AGM through VC/OAVM without the physical presence of members.