Meeting Details

The 32nd AGM was held on Wednesday, 23rd September 2026 at 11:30 A.M. IST through Video Conferencing/Other Audio-Visual Means, in compliance with the Companies Act, 2013 and SEBI Listing Regulations. The meeting was conducted through the VC/OAVM facility provided by National Securities Depository Limited (NSDL). The proceedings were deemed to be conducted at the Registered Office of the Company. The AGM commenced at 11:30 A.M. and concluded at 12:23 P.M. IST, including time allowed for voting.

Attendance

The following individuals attended the AGM:

  • Mr. Makrand Appalwar - Chairman and Managing Director
  • Mrs. Rinku Appalwar - Executive Director and CFO
  • Ms. Maithili Appalwar - Executive Director
  • Mr. Yash Punjabi - Executive Director
  • Mr. Nitin Alshi - Non-Executive Independent Director (Chairman of Audit Committee)
  • Mr. Nimesh Mehta - Non-Executive Independent Director (Chairman of Nomination and Remuneration Committee)
  • Mr. Lalit Shah - Non-Executive Independent Director (Chairman of Stakeholders and Relationship Committee and Corporate Social Responsibility Committee)
  • Mr. Mahipal Singh Chouhan - Company Secretary & Compliance Officer
  • Mr. Sanjay Dholakia - M/s. Sanjay Dholakia & Associates, Secretarial Auditor and Scrutinizer
  • Mr. Radheshyam Daliya - M/s. R. Daliya & Associates, Statutory Auditor

Proceedings

The Company Secretary informed members about the VC/OAVM procedure and the facility for raising questions during the meeting. Remote e-voting was provided from Sunday, 20th September 2026 at 9:00 A.M. to Tuesday, 22nd September 2026 at 5:00 P.M. IST. Mr. Sanjay Dholakia was appointed as Scrutinizer to scrutinize the remote e-voting process and e-voting conducted during the AGM.

Mr. Makrand Appalwar, Chairman and Managing Director, addressed members and apprised them of the Company's performance during the financial year ended 31st March 2026, highlighting continued focus on purpose-led growth, business performance and strategic priorities.

The Company Secretary confirmed that the Annual Report for FY2025-26, including Notice of AGM, Audited Financial Statements, Board's Report and Auditor's Reports, had been sent electronically to all members and was available on the Company's website and NSDL website. There were no qualifications, observations, adverse comments or remarks in the Statutory Auditor's Report and Secretarial Auditor's Report.

Business Transacted

The following items of business were considered and approved:

ORDINARY BUSINESS

1. Ordinary Resolution: To receive, consider and adopt the Audited Financial Statements (Standalone and Consolidated) of the Company for the financial year ended 31st March 2026, together with Reports of Board of Directors and Auditors

2. Ordinary Resolution: To declare Dividend of ₹0.30 per Equity Share for the financial year ended 31st March 2026

3. Ordinary Resolution: To appoint Mrs. Rinku M Appalwar (DIN: 00171976) as Director who retires by rotation

SPECIAL BUSINESS

4. Ordinary Resolution: Ratification of remuneration payable to the cost auditor for financial year 2026-2027

5. Special Resolution: Appointment of Mr. Anuj Choksey (DIN: 10417326) as Non-Executive, Independent Director

6. Special Resolution: Appointment of Ms. Maithili Makrand Appalwar (DIN: 08501502) as Executive Director and Approval of Terms and Conditions of her Appointment and Remuneration

7. Special Resolution: Appointment of Mr. Yash Ravi Punjabi (DIN: 11228629) as Executive Director and Approval of Terms and Conditions of his Appointment and Remuneration

8. Special Resolution: To Approve Payment and Continuation of Payment of Remuneration to Executive Directors who are Promoters or Members of the Promoter Group of the Company, in Excess of threshold limits as prescribed by SEBI (Listing Obligation and Disclosure Requirements) Regulation, 2015

Q&A Session and Conclusion

A Question and Answer session was conducted where queries raised by members were addressed by the Chairman and Managing Director and the Chief Financial Officer. Any remaining queries would be responded to subsequently through email. Members expressed appreciation for management efforts and company performance.

The meeting concluded with a vote of thanks at 12:23 P.M. IST.