Meeting Details

The 40th Annual General Meeting was held on Friday, 25th September 2026, through Video Conferencing/Other Audio-Visual Means (OAVM). The meeting started at 12:07 PM and concluded at 12:26 PM.

Attendees

Directors Present:

  • Shri Suresh J. Patel (Chairman & Managing Director)
  • Shri Bhavin S. Patel (Executive Director)
  • Shri Ankit S. Patel (Executive Director)
  • Shri Rajarshi Ghosh (Director-HSE)
  • Shri Rohit B Maloo (Independent Director, Chairman of Audit Committee, Stake Holder's Relationship Committee, and Nomination and Remuneration Committee)
  • Shri Nalin Kumar (Independent Director)
  • Smt. Neha S. Huddar (Independent Director)
  • Shri Mayank K Mehta (Independent Director)

Members Present:

  • Promoter and Promoters Group: 5 members
  • Public: 45 members (including Speaker)

In Attendance:

  • Shri Ashutosh B. Bhatt (Company Secretary & Compliance Officer)
  • Shri Mayur Padhya (Chief Financial Officer)
  • Shri Tapan Shah (Practicing Company Secretary & Scrutinizer)
  • Shri Chintan Patel (Representative of Statutory Auditors, BNPS & Associates LLP)

Request for Speakers: 2 (Two)

Summary of Chairman's Speech

Shri Suresh J. Patel delivered a speech highlighting the company's performance and strategy for the financial year 2025-2026:

  • Described the year as a "pivotal chapter" with strategic clarity amid a dynamic global operating landscape.
  • Noted steady progress and one of the strongest revenue performances, driven by improved demand and an optimized product mix.
  • The Dye Intermediates division delivered strong volume and revenue momentum.
  • The Chlor-Alkali business performance remained in line year-on-year, with export growth from Southeast Asian subsidiaries.
  • Commissioned a new greenfield manufacturing facility at Saykha, Gujarat, for benzene derivatives (MCB, PNCB, ONCB, MNCB, DCB) using German technology and India's first Continuous Crystallisation system from Switzerland.
  • Permanently decommissioned units at Vatva to exit inefficient facilities, with production absorbed by upgraded facilities at Vadodara and Kosi.
  • Highlighted best-in-class environmental infrastructure, including Zero Liquid Discharge (ZLD) systems and Effluent Treatment Plants (ETPs).
  • Outlined key strategic priorities: ramping up the Saykha facility, deepening client penetration, driving operational efficiencies, pursuing greenfield expansion, and expanding exports.

Proposed Resolutions and Implications

Three ordinary business resolutions were proposed for shareholder approval:

1. Adoption of Financial Statements: To receive, consider, and adopt the Audited Standalone and Consolidated Financial Statements for the year ended 31st March 2026, along with the reports of the Board of Directors and Auditors.

2. Reappointment of Director: To reappoint Mr. Ankit S. Patel (DIN: 02173231), who retired by rotation, as an Executive Director.

3. Ratification of Cost Auditor Remuneration: To ratify the remuneration of Rs. 1,80,000 plus GST and expenses for M/s. Kiran J. Mehta & Co. (FRN: 000025) as Cost Auditors for FY 2026-2027.

Voting Process

The company provided an e-voting facility through CDSL, as mandated by Section 108 of the Companies Act, 2013, and Regulation 44 of SEBI LODR. The e-voting period was from 22nd September 2026 (9:00 AM) to 24th September 2026 (5:00 PM). Members who had not voted could also vote during the AGM proceedings via e-voting, with a 15-minute window available after the meeting concluded. Mr. Tapan Shah, Practicing Company Secretary, was appointed as the Scrutinizer to conduct the voting process in a fair and transparent manner.

Key Voting Outcomes

Based on the Scrutinizer's report, the Chairman announced that all resolutions were passed with requisite majority. The detailed results were:

| Agenda Item | Resolution Type | Votes in Favor | % in Favor | Votes Against | % Against |

| 1 | Ordinary | 60,855,557 | 100.00 | 1,486 | 0.00 |

| 2 | Ordinary | 60,855,497 | 100.00 | 1,546 | 0.00 |

| 3 | Ordinary | 60,845,848 | 100.00 | 1,486 | 0.00 |

Scrutinizer's Role and Compliance

Mr. Tapan Shah was the Scrutinizer for the e-voting process. His report confirmed the voting results, and the company committed to disclosing these results on its website and the stock exchanges (BSE and NSE) within two working days from the AGM date. The company confirmed that the meeting was conducted in compliance with the Companies Act, 2013, its rules, and SEBI LODR Regulations.

Other Procedural Information

The Notice of the AGM, Directors' Report, and Annual Report were available on the company's website and stock exchanges. The Register of Directors' Shareholding, Register of Contracts, Register of Members, Auditor's Report, Secretarial Audit Report, and Annual Return (MGT-7) were available for inspection on the company's website. There were no qualifications or adverse remarks in the Auditor's Report or Secretarial Audit Report.