Detailed Summary

AGM Rescheduling Details

The 21st Annual General Meeting originally scheduled for Wednesday, 30th September 2026 at 11:00 A.M. has been rescheduled to Tuesday, 29th September 2026 at 11:00 A.M. (IST) through Video Conference/Other Audio-Visual Means due to unavoidable administrative circumstances.

Key Date Changes:

  • Cut-off date for voting: Changed from 23.09.2026 to 22.09.2026
  • Speaker Registration: Changed from 27.09.2026-29.09.2026 to 26.09.2026-28.09.2026
  • Question Registration: Changed from 27.09.2026-29.09.2026 to 26.09.2026-28.09.2026
  • Remote E-Voting: Changed from 27.09.2026 (9:00 A.M.) to 29.09.2026 (5:00 P.M.) to 26.09.2026 (9:00 A.M.) to 28.09.2026 (5:00 P.M.)

The revised notice has been sent to members whose email addresses are registered with the Company/Depository Participants.

Agenda Items for Shareholder Approval

Ordinary Business

Item 1: Adoption of audited financial statements for FY ended March 31, 2026 and reports of Board of Directors and Auditors

Item 2: Re-appointment of Mr. Raghav Agarwal (DIN: 08450843) who retires by rotation

Special Business

Item 3: Ratification of remuneration of ₹2,40,000 payable to Cost Auditor M/s Chandra Wadhwa & Co. for FY 2026-27

Item 4: Re-appointment of Mr. Mohan Agarwal (DIN: 00595232) as Managing Director for 5 years from 10th August 2026

Item 5: Re-appointment of Mr. Akshay Agarwal (DIN: 07175149) as Whole-time Director for 5 years from 10th August 2026 with revised remuneration of ₹1.12 crore

Item 6: Re-appointment of Mr. Raghav Agarwal (DIN: 08450843) as Whole-time Director for 5 years from 10th August 2026 with revised remuneration of ₹1.12 crore

Item 7: Re-appointment of Mr. Gyanmohan (DIN: 07816704) as Independent Director for second term of 5 years from 10th August 2026 (Special Resolution)

Item 8: Re-appointment of Mr. Balvinder Kumar (DIN: 01647940) as Independent Director for second term of 5 years from 10th August 2026 (Special Resolution)

Item 9: Re-appointment of Ms. Rashmi Verma (DIN: 09268810) as Independent Director for second term of 5 years from 10th August 2026 (Special Resolution)

Item 10: Regularization of appointment of Mr. Ankur Singh (DIN: 02712564) as Executive Director from 10th August 2026 with proposed remuneration of ₹2.20 crore

Item 11: Appointment of M/s. Deepak Goel & Associates as Secretarial Auditor for FY 2026-27 to 2030-31 at remuneration of ₹80,000 for FY 2026-27

Item 12: Approval for payment of performance-linked commission of ₹10,00,000 each to Independent Directors Mr. Gyanmohan, Mr. Balvinder Kumar, Ms. Rashmi Verma, and Mr. Girish Paman Vanvari for FY 2026-27

Item 13: Approval for payment of performance bonus to Executive Directors with overall ceiling of ₹10,00,00,000 per financial year

Item 14: Approval for increase in limit of investment, securities and guarantee under Section 186 up to ₹1500 crore (Special Resolution)

Item 15: Approval for increase in borrowing limit under Section 180(1)(a) and 180(1)(c) to ₹2000 crore (Special Resolution)

Item 16: Alteration of Article 58 of Articles of Association to include 'and to give guarantee' after 'Power of the Board to borrow monies' (Special Resolution)

Director Details and Remuneration

Mr. Mohan Agarwal (Managing Director):

  • Age: Not specified in disclosure
  • Current remuneration: ₹2.18 crore
  • Shares held: 8,88,95,453
  • Experience: 40+ years in aluminium alloys recycling industry

Mr. Akshay Agarwal (Whole-time Director):

  • Age: 34 years
  • Current remuneration: ₹1.20 crore (including benefits)
  • Proposed remuneration: ₹1.12 crore (excluding benefits)
  • Shares held: 21,905,549
  • Education: B.Tech Mechanical Engineering from BITS Pilani

Mr. Raghav Agarwal (Whole-time Director):

  • Age: 32 years
  • Current remuneration: ₹0.80 crore (including benefits)
  • Proposed remuneration: ₹1.12 crore (excluding benefits)
  • Shares held: 21,905,549
  • Qualification: Chartered Accountant

Independent Directors:

  • Mr. Gyanmohan: Remuneration FY 2025-26 - ₹0.11 crore (sitting fees)
  • Mr. Balvinder Kumar: Remuneration FY 2025-26 - ₹0.10 crore (sitting fees)
  • Ms. Rashmi Verma: Remuneration FY 2025-26 - ₹0.09 crore (sitting fees)

Voting Procedure

Remote e-voting period: September 26, 2026 (9:00 A.M.) to September 28, 2026 (5:00 P.M.) through KFintech services. Scrutinizer: Mr. Deepak Goel, Practicing Company Secretary.

Financial Impact

The resolutions involve significant financial commitments including:

  • Director remuneration increases totaling approximately ₹2.24 crore for Whole-time Directors
  • Performance-linked commissions of ₹40,00,000 for Independent Directors
  • Increased borrowing limits of ₹2000 crore
  • Investment/guarantee limits of ₹1500 crore

All financial impacts are subject to shareholder approval and compliance with applicable laws.