Banco Products (India) Limited conducted its 65th Annual General Meeting (AGM) on Saturday, 19th September 2026 at 11:30 A.M. IST through Video Conferencing (VC) / Other Audio Visual Means (OAVM). The meeting was chaired by Mr. Mehul K. Patel, with all directors in attendance.

The meeting was conducted in compliance with the Companies Act, 2013 and SEBI Listing Regulations, 2015, following procedures prescribed by MCA and SEBI circulars. Mr. J. J. Gandhi, Practicing Company Secretary, Vadodara, was appointed as Scrutinizer to scrutinize votes cast through remote e-voting and e-voting during the meeting.

Business Transacted

Ordinary Business:

  • Resolution 1: Adoption of Audited Standalone and Consolidated Financial Statements for the financial year ended 31st March 2026, including Balance Sheet, Statement of Profit and Loss, Cash Flow Statement, and Reports of Board of Directors and Auditors (Ordinary Resolution)
  • Resolution 2: Re-appointment of Mr. Sharan M. Patel (DIN: 09151194) who retired by rotation (Ordinary Resolution)
  • Resolution 3: Declaration of dividend of 400% i.e. ₹8 per equity share of ₹2 each for the financial year ended 31st March 2026 (Ordinary Resolution)

Special Business:

  • Resolution 4: Regularisation of appointment of Mr. Hiteshbhai Manubhai Patel (DIN: 11866196) as Director, liable to retire by rotation (Special Resolution)
  • Resolution 5: Appointment of Mr. Hiteshbhai Manubhai Patel (DIN: 11866196) as Whole-time Director (Key Managerial Personnel) (Special Resolution)
  • Resolution 6: Payment of commission to Mr. Shivam M. Patel (DIN: 09501828), Non-Executive, Non-Independent Director (Special Resolution)
  • Resolution 7: Ratification of Remuneration to Cost Auditor (Ordinary Resolution)

Meeting Proceedings

The meeting commenced with Mr. Sachin Dalwadi, Company Secretary, requesting Mr. Mehul Patel to chair the meeting. The Chairman welcomed all members, directors, auditors, and invitees. The statutory auditors M/s. PSCA & Co. (formerly Parikh Shah Chotalia & Associates) and secretarial auditors M/s. J. J. Gandhi & Co. attended the meeting.

The Chairman delivered a statement on the company's affairs, followed by discussion of agenda items. Members were informed that resolutions would be deemed passed if approved with requisite majority. The management responded to questions from registered speakers.

The meeting concluded at 1:47 P.M. IST. The voting results were to be declared within prescribed time limits and made available on the company's notice board, website, website of MUFG Intime India Private Limited, and stock exchange websites.