Meeting Details

The 65th Annual General Meeting was held on Saturday, 19th September 2026 at 11:30 AM through Video Conferencing (VC)/Other Audio Visual Means (OAVM). The proceedings were deemed to be conducted at the Registered Office of the Company at Bill, Near Bhaili Railway Station, Padra Road, Vadodara 391410.

Scrutinizer Appointment

J. J. Gandhi, Proprietor of J J Gandhi & Co., Practising Company Secretaries, was appointed as Scrutinizer to scrutinize the remote e-voting and e-voting process during the AGM.

Voting Process Details

  • E-voting facility provided by MUFG Intime India Pvt. Ltd.
  • Public advertisement published in Business Standard (English) and Loksatta Jansatta (Gujarati) on 28th August 2026
  • Remote e-voting period: 16th September 2026 (9:00 AM) to 18th September 2026 (5:00 PM)
  • Cut-off date for eligibility: 12th September 2026
  • Shareholders could vote during the meeting and within 15 minutes of conclusion of AGM

Resolution-wise Voting Results

Resolution 1: Adoption of Financial Statements

To receive, consider and adopt Audited Standalone and Consolidated Financial Statements for FY ended 31st March 2026

  • Result: Passed with 100% votes in favor
  • Total shares voted: 85,910,201 (60.06% of outstanding)
  • Promoter group: 83,019,170 shares voted (85.50% holding) - 100% in favor
  • Public institutions: 2,631,127 shares voted (43.27% holding) - 100% in favor
  • Public non-institutions: 259,904 shares voted (0.65% holding) - 100% in favor
Resolution 2: Re-appointment of Director

To appoint Mr. Sharan M. Patel (DIN: 09151194) who retires by rotation

  • Result: Passed with 99.78% votes in favor
  • Total shares voted: 85,910,201 (60.06% of outstanding)
  • Promoter group: 83,019,170 shares voted - 100% in favor
  • Public institutions: 2,631,127 shares voted - 99.93% in favor (7.28% against)
  • Public non-institutions: 259,904 shares voted - 99.99% in favor (0.01% against)
Resolution 3: Dividend Declaration

To declare dividend of ₹8 (400%) per equity share of ₹2 each for FY ended 31st March 2026

  • Result: Passed with 99.99% votes in favor
  • Total shares voted: 85,922,301 (60.07% of outstanding)
  • Promoter group: 83,019,170 shares voted - 100% in favor
  • Public institutions: 2,631,127 shares voted - 100% in favor
  • Public non-institutions: 272,004 shares voted - 99.98% in favor (0.02% against)
Resolution 4: Regularization of Director Appointment

Regularization of appointment of Mr. Hiteshbhai Manubhai Patel (DIN: 11866196) as Director

  • Result: Passed with 99.93% votes in favor
  • Total shares voted: 85,910,201 (60.06% of outstanding)
  • Promoter group: 83,019,170 shares voted - 100% in favor
  • Public institutions: 2,631,127 shares voted - 97.57% in favor (2.43% against)
  • Public non-institutions: 259,904 shares voted - 100% in favor
Resolution 5: Appointment as Whole-time Director

Appointment of Mr. Hiteshbhai Manubhai Patel (DIN: 11866196) as Whole-time Director (KMP)

  • Result: Passed with 99.93% votes in favor
  • Total shares voted: 85,910,201 (60.06% of outstanding)
  • Promoter group: 83,019,170 shares voted - 100% in favor
  • Public institutions: 2,631,127 shares voted - 97.61% in favor (2.39% against)
  • Public non-institutions: 259,904 shares voted - 100% in favor
Resolution 6: Commission Payment

Payment of commission to Mr. Shivam M. Patel (DIN: 09501828) Non-Executive Director

  • Result: Passed with 96.94% votes in favor
  • Total shares voted: 85,910,201 (60.06% of outstanding)
  • Promoter group: 83,019,170 shares voted - 100% in favor
  • Public institutions: 2,631,127 shares voted - 99.96% in favor (0.04% against)
  • Public non-institutions: 259,904 shares voted - 99.93% in favor (0.07% against)
Resolution 7: Cost Auditor Remuneration

Ratification of Remuneration to Cost Auditor

  • Result: Passed with 100% votes in favor
  • Total shares voted: 85,910,201 (60.06% of outstanding)
  • Promoter group: 83,019,170 shares voted - 100% in favor
  • Public institutions: 2,631,127 shares voted - 100% in favor
  • Public non-institutions: 259,904 shares voted - 99.99% in favor (0.01% against)

Overall Voting Participation

  • Total outstanding shares: 143,037,300
  • Total shares voted across all resolutions: ~85.9 million (60.06-60.07% participation)
  • Promoter group holding: 97,099,984 shares (67.89% of total)
  • All resolutions passed with requisite majority

Certification

The Scrutinizer certified that all resolutions were passed with requisite majority and relevant records were handed over to the Company Secretary for safe custody.