Meeting Details

The 8th Annual General Meeting was held on Friday, 25th September 2026, from 12:30 P.M. to 02:05 P.M. (IST). The meeting was conducted entirely through Video Conferencing (VC) / Other Audio-Visual Means (OAVM) in compliance with the Companies Act, 2013 and relevant circulars from the Ministry of Corporate Affairs (MCA) and SEBI.

Proposed Resolutions and Implications

Five resolutions were proposed at the meeting:

Ordinary Business:

  • Resolution 1: Adoption of Audited Standalone Financial Statements with Auditors' and Board Reports for FY ended 31st March 2026
  • Resolution 2: Adoption of Audited Consolidated Financial Statements with Auditors' Reports for FY ended 31st March 2026
  • Resolution 3: Reappointment of Mr. Karan Bajaj (DIN: 07899639) as Director liable to retire by rotation

Special Business:

  • Resolution 4: Increase in borrowing limits under Section 180(1)(c) of the Companies Act, 2013
  • Resolution 5: Creation of charges on company assets under Section 180(1)(a) of the Companies Act, 2013

The resolutions aimed to secure shareholder approval for financial statement adoption, director reappointment, and enhanced financial flexibility for future borrowing and asset charging activities.

Voting Process and Methods

The company appointed Mr. Vinod Sakaram, Practising Company Secretary (ACS: 23285, COP No.: 8345), as Scrutinizer for conducting and scrutinizing the remote e-voting process held prior to and during the AGM. A 15-minute e-voting window was opened after the meeting concluded at 02:05 P.M. The e-voting results and consolidated Scrutinizer's Report were to be submitted to stock exchanges separately and made available on the company's website.

Attendance and Participation

Shareholder Attendance:

  • Total members present: 44
  • Promoter & Promoter Group: 3 members
  • Public: 41 members
  • Total equity shares represented: 25,05,38,562
  • No members attended in-person or through proxy/authorized representatives

Directors and Key Management Present:

  • Mr. Pavan Kumar Bajaj - Chairman & Managing Director (Hyderabad)
  • Mrs. Astha Bajaj - Whole-Time Director & CSR Committee Chairperson (Hyderabad)
  • Mr. Gurdeep Singh - Independent Director & Audit Committee Chairperson (New Delhi)
  • Mrs. Jyotsna Angara - Independent Director & Stakeholders' Relationship Committee/ESG Committee Chairperson (Hyderabad)
  • Mr. Karan Bajaj - Whole-Time Director, CEO & Finance Committee Chairperson (Hyderabad)
  • Mr. Mirza Ghulam Muhammad Baig - Independent Director & Risk Management/Nomination and Remuneration Committee Chairperson (Hyderabad)
  • Mr. Rajiv Kumar - Company Secretary & Compliance Officer (Hyderabad)
  • Mr. Premchand Devarakonda - Chief Financial Officer (Hyderabad)

Other Attendees:

  • Mr. Hemant Maheshwari - Partner, Walker Chandiok & Co LLP (Statutory Auditor)
  • Mr. Vinod Sakaram - Partner, VSSK & Associates (Secretarial Auditor and Scrutinizer)

Financial and Operational Highlights Presented

The meeting featured detailed presentations on company performance:

FY 2025-26 Financial Performance:

  • Revenue from operations: ₹7,183.3 Crores (6.7% YoY growth)
  • Profit after tax: ₹107.1 Crores
  • Gross profit: ₹1,037.1 Crores (FY25: ₹997.5 Crores)
  • Reported EBITDA: ₹438.2 Crores
  • EBITDA Margin: 6.1%

Operational Metrics:

  • Total stores: 223 (215 MBOs + 8 EBOs)
  • Net store additions during FY26: 23 stores
  • Cities: 95 across 6 states
  • Retail space: 1.94 million sq. ft.
  • Employees: 3,000+
  • Central warehouses: 14
  • Delhi-NCR same-store sales growth: 22.8%
  • Overall same-store sales growth: 5.3%

Strategic Initiatives:

  • Cluster-based expansion strategy with proposed entry into West Bengal
  • Focus on store productivity, working capital efficiency, and customer experience
  • Four decades of operation with theme "Built to Adapt. Ready to Scale."
  • Network more than doubled from 103 to 223 stores from FY22 to FY26

Question-and-Answer Session

The meeting included a Q&A session where members raised questions regarding new stores, expansion into West Bengal/Eastern India, Hyderabad/Telangana operations, future growth opportunities, competitive landscape, capex and future projects, customer retention, employee strengths, order pipeline, and the company's approach toward future dividend payments.

Compliance and Regulatory Aspects

The meeting was conducted in compliance with the Companies Act, 2013, SEBI (LODR) Regulations, 2015, and relevant MCA circulars. The company confirmed that statutory auditors issued unmodified opinions on both standalone and consolidated financial statements, and secretarial auditors issued their report without any qualification, reservation, or adverse remark.

Signatories and Authentication

The proceedings were signed by Mr. Rajiv Kumar, Company Secretary and Compliance Officer, with digital signature timestamped 2026.09.25 14:40:05 +05'30' from Hyderabad.