Meeting Details

The 60th Annual General Meeting was held on 26th August 2026. The notice for the meeting was dated 4th August 2026 and was dispatched to shareholders via email. Advertisements regarding the meeting and e-voting facility were published in 'The Hindu' (English) and 'Makkal Kural' (Tamil) on 6th August 2026.

Summary of Proposed Resolutions and Implications

Eight ordinary resolutions were proposed and passed:

1. Adoption of Financial Statements: To receive, consider, and adopt the audited standalone and consolidated financial statements for FY 2025-26 (1st April 2025 to 31st March 2026), along with the Directors' Report and Auditor's Reports.

2. Preference Dividend Declaration: To declare a preference dividend of 6.65% (₹0.665 per share) on outstanding preference shares up to the redemption date of 23rd September 2025, amounting to ₹15.94 crore.

3. Final Equity Dividend: To declare a final dividend of ₹54 per equity share for FY 2025-26.

4. Director Re-appointment: To appoint Mr. Inder Jeet (DIN: 10385230), who retires by rotation and is eligible for re-appointment.

5. Director Re-appointment: To appoint Mr. Rohit Kumar Agrawala (DIN: 10048961), who retires by rotation and is eligible for re-appointment.

6. Director Appointment: To appoint Mr. S.G. Venkatesh (DIN: 08823140) as a Director (Technical).

7. Director Appointment: To appoint Mr. V.C. Asokan (DIN: 11646048) as a Nominee Director.

8. Cost Auditor Remuneration: To ratify the remuneration of the Cost Auditor for FY 2026-27.

Voting Process and Methods

The voting process utilized remote e-voting and e-voting at the AGM. Remote e-voting was open for four days from 22nd August 2026 (9:00 AM) to 25th August 2026 (5:00 PM). The cut-off date for determining voting rights was 19th August 2026. Shareholders could vote via either remote e-voting or e-voting at the AGM, but not both. The scrutinizer reconciled the e-voting data with records from the Registrar and Share Transfer Agent.

Key Voting Outcomes

Overall Participation

  • Total outstanding shares: 148,911,400
  • Total votes polled across all resolutions: ~121,136,806 (81.35% average participation)
  • No invalid votes were recorded in any category for any resolution.
  • No abstain votes were recorded.

Resolution-wise Results

Resolution 1 (Adoption of Financial Statements)

  • Total votes polled: 121,042,607 (81.2850% of outstanding shares)
  • Votes in favour: 120,835,911 (99.8292% of votes polled)
  • Votes against: 206,696 (0.1708% of votes polled)
  • Result: Passed

Resolution 2 (Preference Dividend)

  • Total votes polled: 121,139,625 (81.3501% of outstanding shares)
  • Votes in favour: 120,994,703 (99.8804% of votes polled)
  • Votes against: 144,922 (0.1196% of votes polled)
  • Result: Passed

Resolution 3 (Final Equity Dividend)

  • Total votes polled: 121,139,665 (81.3502% of outstanding shares)
  • Votes in favour: 120,994,888 (99.8805% of votes polled)
  • Votes against: 144,777 (0.1195% of votes polled)
  • Result: Passed

Resolution 4 (Re-appointment of Mr. Inder Jeet)

  • Total votes polled: 121,136,806 (81.3482% of outstanding shares)
  • Votes in favour: 101,979,437 (84.1853% of votes polled)
  • Votes against: 19,157,369 (15.8147% of votes polled)
  • Result: Passed

Resolution 5 (Re-appointment of Mr. Rohit Kumar Agrawala)

  • Total votes polled: 121,136,806 (81.3482% of outstanding shares)
  • Votes in favour: 102,665,456 (84.7517% of votes polled)
  • Votes against: 18,471,350 (15.2483% of votes polled)
  • Result: Passed

Resolution 6 (Appointment of Mr. S.G. Venkatesh)

  • Total votes polled: 121,136,806 (81.3482% of outstanding shares)
  • Votes in favour: 103,952,075 (85.8138% of votes polled)
  • Votes against: 17,184,731 (14.1862% of votes polled)
  • Result: Passed

Resolution 7 (Appointment of Mr. V.C. Asokan)

  • Total votes polled: 121,136,816 (81.3482% of outstanding shares)
  • Votes in favour: 105,124,127 (86.7813% of votes polled)
  • Votes against: 16,012,689 (13.2187% of votes polled)
  • Result: Passed

Resolution 8 (Ratification of Cost Auditor Remuneration)

  • Total votes polled: 121,136,806 (81.3482% of outstanding shares)
  • Votes in favour: 120,992,020 (99.8805% of votes polled)
  • Votes against: 144,786 (0.1195% of votes polled)
  • Result: Passed

Category-wise Voting Breakdown

Promoter and Promoter Group

  • Shares held: 100,198,100
  • Voted unanimously in favour (100%) on all resolutions via e-voting only; no votes via poll or postal ballot.

Public Institutions

  • Shares held: 25,422,903
  • Average participation: ~81.58%
  • High approval rates (>99.3%) for financial and dividend resolutions (1,2,3,8).
  • Lower approval rates for director appointments: ~7.63% for Mr. Inder Jeet, ~10.94% for Mr. Agrawala, ~17.14% for Mr. Venkatesh, ~22.84% for Mr. Asokan.

Public Non-Institutions

  • Shares held: 23,290,397
  • Low average participation: ~0.86%
  • Very high approval rates (>99.28%) across all resolutions.

Scrutinizer's Role and Findings

M/s Chitra Lalitha & Associates, Company Secretaries, were appointed as the scrutinizer. Their responsibilities included scrutinizing the remote e-voting and e-voting at the AGM process. They confirmed:

  • The voting process complied with Section 108 of the Companies Act, 2013 and Rule 20 of the Companies (Management and Administration) Rules, 2014.
  • The data from e-voting was reconciled with the records of the Registrar and Share Transfer Agent.
  • The remote e-voting votes were unblocked after the AGM in the presence of two independent witnesses (Mr. Mirza Ismail Irshad Ahmed and Ms. Gomathi).
  • No shareholder used both voting methods.
  • All resolutions were passed by the requisite majority.
  • There were no invalid or abstain votes.

Compliance Confirmation

The document confirms compliance with the SEBI (LODR) Regulations, 2015, the Companies Act, 2013, and relevant rules. The scrutinizer's report affirms the entire process was conducted as per regulatory requirements.