Meeting Details
The 51st Annual General Meeting of the company was held on Wednesday, August 12, 2026, at 3:00 p.m. IST. The meeting was conducted through Video Conferencing (VC) / Other Audio Visual Means (OAVM) in compliance with provisions of the Companies Act, 2013 and relevant circulars from the Ministry of Corporate Affairs and SEBI.
Proposed Resolutions and Implications
The following five items of business were transacted at the meeting:
- Item 1: Adoption of the Audited Standalone Financial Statements for the financial year ended March 31, 2026, together with Reports of the Board of Directors and Auditors (Ordinary Resolution)
- Item 2: Adoption of the Audited Consolidated Financial Statements for the financial year ended March 31, 2026, together with the Report of the Auditors (Ordinary Resolution)
- Item 3: Re-appointment of Mr. M. M. Venkatachalam (DIN: 00152619) as a Director liable to retire by rotation (Ordinary Resolution)
- Item 4: Approval for disposal of assets of the material subsidiary, Parry Sugars Refinery India Private Limited (Special Resolution)
- Item 5: Ratification of the remuneration payable to the Cost Auditors (Ordinary Resolution)
The special resolution regarding disposal of assets from the material subsidiary follows the Board's earlier decision to approve the closure of operations of this wholly-owned subsidiary.
Voting Process and Methods
The company provided two methods for voting in accordance with the Companies Act, 2013 and SEBI LODR Regulations:
- Remote e-voting: Provided to members prior to the meeting
- E-voting during the AGM: Provided for members who had not cast their votes through remote e-voting
The e-voting facility remained open during the AGM and continued until 4:27 p.m. on August 12, 2026.
Scrutinizer Appointment and Role
Mr. R. Sridharan of M/s. R. Sridharan & Associates, Practising Company Secretaries, was appointed as the Scrutinizer to scrutinize all votes cast through both remote e-voting and e-voting during the AGM. The Scrutinizer was tasked with submitting a consolidated report of the voting results.
Compliance with Laws and Regulations
The meeting was conducted in compliance with:
- Companies Act, 2013 and Rules made thereunder
- SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Regulation 44)
- Circulars issued by the Ministry of Corporate Affairs
- Circulars issued by the Securities and Exchange Board of India
The company confirmed that the Statutory Auditors' Report and Secretarial Audit Report for FY 2025-26 contained no qualifications, reservations, adverse remarks, or disclaimers with adverse effect on company functioning.
Additional Meeting Proceedings
The Chairman delivered an address covering:
- Overview of the economic environment
- Developments in sugar and biofuel industries
- Company's journey toward intelligent and connected operations
- Financial performance for FY 2025-26 for company and subsidiaries
- Environmental, Social and Governance (ESG) initiatives
- Challenges regarding sugarcane pricing policies
- Improvement in sugar recovery rates
- Performance of various business segments
- Closure of Parry Sugars Refinery India Private Limited operations
- CSR initiatives including Project NANNEER watershed management program
Member queries were addressed by Mr. Muthiah Murugappan, Whole-time Director & CEO. All directors attended the AGM, including chairs of the Audit Committee, Risk Management Committee, and Nomination and Remuneration Committee.
Dissemination of Results
The voting results were to be uploaded on the websites of the Company, National Securities Depository Limited (NSDL), and to the Stock Exchanges for dissemination.