Date, Location, and Type of Meeting

The 36th Annual General Meeting was held on September 28, 2026, at 11:45 A.M. through video conferencing/Other Audio Visual Means. The deemed venue was the Registered Office of the Company at A – 70/71/72, STICE, Musalgaon MIDC, Sinnar Shirdi Road, Sinnar, Nashik- 422 112.

Summary of Proposed Resolutions and Implications

The meeting considered and sought approval for the following resolutions:

Ordinary Business:

  • 1. Adoption of Audited Standalone Financial Statements for FY ended March 31, 2026, with Reports of Board of Directors and Auditors
  • 2. Adoption of Audited Consolidated Financial Statements for FY ended March 31, 2026, with Report of Auditors
  • 3. Re-Appointment of Mr. Ajay Vedmutha (DIN: 01726879), Joint Managing Director, as a director liable to retire by rotation

Special Business:

  • 4. Ratification of remuneration to be paid to Cost Auditors for FY 2026-27
  • 5. Approval for increment in remuneration payable to Mr. Kachardas Bedmutha (DIN:00715619), Whole-time director (Chairman), effective April 01, 2026 to August 09, 2027
  • 6. Approval for increment in remuneration payable to Mr. Vijay Vedmutha (DIN:00716056), Managing Director, effective April 01, 2026 to November 13, 2027
  • 7. Approval for increment in remuneration payable to Mr. Ajay Vedmutha (DIN: 01726879), Managing Director, effective April 01, 2026 to November 13, 2028
  • 8. Approval for increment in remuneration payable to Mrs. Vinita Vedmutha, Senior Chief Executive Officer (S-CEO), effective April 01, 2026
  • 9. Approval of Material Related Party Transaction(s) with MNE Components India Private Limited for one year under section 188 of Companies Act, 2013 and SEBI LODR Regulations
  • 10. Approval of Material Related Party Transaction(s) with Arian Innovations Private Limited for one year under section 188 of Companies Act, 2013 and SEBI LODR Regulations

Voting Process and Methods Used

The Company provided remote e-voting facility to shareholders from Friday, September 25, 2026, 9:00 A.M. to Sunday, September 27, 2026, 5:00 P.M. Shareholders holding shares as of the Cut-Off Date (Monday, September 21, 2026) could cast votes electronically. Facility for voting was also available during the AGM for members who had not voted through remote e-voting.

Key Meeting Proceedings

  • Mr. Kachardas Bedmutha, Chairman, presided over the meeting
  • Fifty-Nine (59) Members attended through video conferencing, with requisite quorum present
  • Mr. Ajay Vedmutha, Managing Director & CFO, presented on company performance and recent developments at Nardana Plant
  • For business items No. 3, 5, 6, 7, 8, 9 & 10, where Executive Directors & CEO were deemed interested, Mr. Shreekrishna Marathe, Independent Director, presided over discussion
  • All Directors were present at the meeting
  • Statutory Auditors (M/s SIGMAC & Co.) and Secretarial Auditors/Scrutinizers (M/s. Sharma and Trivedi LLP) were present
  • No requests for speaker registration or queries/clarifications were received
  • The meeting concluded at 01:00 P.M., with e-voting kept open for 30 minutes after business proceedings concluded

Scrutinizer's Role and Findings

Mr. Vishwanath, Designated Partner of M/s. Sharma and Trivedi LLP, Practicing Company Secretaries (LLPIN AAW-6850), was appointed as scrutinizer to supervise the e-voting process independently and in a fair and transparent manner. The scrutinizer was tasked with providing a report on the combined voting results of e-voting and e-voting at the AGM for each agenda item.

Results Disclosure Timeline

The results of voting were scheduled to be disseminated to the Stock Exchanges on or before September 30, 2026, after receipt of the Scrutinizer Report. Results were also to be uploaded on the company website (www.bedmutha.com), https://instavote.linkintime.co.in/, and websites of BSE & NSE.

Financial and Operational Updates Presented

Financial Performance (₹ in Crores):

  • Standalone Revenue from Operations: FY26 - 146.67, FY25 - 104.93
  • Other Income: FY26 - 3.17, FY25 - 4.67
  • Profit After Tax: FY26 - 7.05, FY25 - 9.93 (negative)
  • Net Worth: FY26 - 21.55, FY25 - 21.45

Mega Project Status:

  • Government of Maharashtra sanctioned Second Mega Project of ₹460.00 Crores
  • Minimum investment requirement: ₹250.00 Crores with final completion date March 2027
  • Investment completed: ₹255.55 Crores as of March 31, 2026; ₹301.31 Crores as of June 30, 2026
  • Phase-1 eligibility investment of ₹250 crs completed as of March 31, 2026
  • Balance investment of ₹204.45 Crores expected to be completed within stipulated timelines

Subsidy Status:

  • Whole sanctioned subsidy/incentive amount of ₹331.94 cr accrued up to Q3 FY 2024-2025
  • Subsidy/Incentive yet to be received from Govt. of Maharashtra: approx. ₹90.29 crores as on September 22, 2026

Capacity Expansion Plans (2026-2027 & 2027-28):

  • Wire Rope and strand making machines to be added, increasing capacity to 24,000MT annually (3x 2021/22 capacity)
  • Additional approx. 10,000 sq mtr Rope Factory Shed already extended
  • Copper foil rolling mills, Conform machines, Drawbench, flattening mill to be added, increasing capacity to 10,800MT annually (3x 2021/22 capacity)
  • Additional approx. 5,000 sq mtr Copper Factory Shed already extended
  • Copper Foils will be mainly consumed for making battery components for Electric/Hybrid Vehicles

Solar Power Initiatives:

  • Installed 422kW DC roof top Solar plant & 2,464kW DC ground mounted Solar plant in Nardana premises
  • Investment & Operations/maintenance responsibility of Total Energies
  • Per unit cost: Solar power ₹5.05 vs. MSEDCL price ₹11.05 (net saving ₹6 per KWH)
  • Commercial operations started October 1, 2024
  • Minimum annual guaranteed generation: 43,50,000 units
  • Net annual saving: ₹2.61 crores annually
  • Plans to install additional 4,000kW DC Roof Top Solar plant before end of March 2028

Compliance Confirmation

The meeting was conducted in compliance with Circulars issued by the Ministry of Corporate Affairs (MCA) and SEBI, and applicable provisions of the Companies Act, 2013 and Rules made thereunder. The Statutory Auditors Report and Secretarial Audit Report for FY 2026 contained no qualifications, observations, reservations, or adverse remarks.