Meeting Details

The 19th Annual General Meeting was held on Friday, September 25, 2026 at 4:00 PM (IST) through Video Conferencing (VC) / Other Audio Visual Means (OAVM) facility. The meeting was conducted in compliance with the Companies Act, 2013, SEBI Listing Regulations, and circulars issued by the Ministry of Corporate Affairs and SEBI.

Proposed Resolutions and Implications

The following four resolutions were proposed and transacted at the meeting:

  • Item 1: Adoption of Financial Statements (Ordinary Business, Ordinary Resolution)
  • Item 2: Declaration of Dividend (Ordinary Business, Ordinary Resolution) - The Board recommended a final dividend of ₹1 per equity share
  • Item 3: Appointment of Mr. Suhas Donthi Manjunatha as a Director liable to retire by rotation (Ordinary Business, Ordinary Resolution)
  • Item 4: Ratification of remuneration payable to Cost Auditors for FY 2026-27 (Special Business, Ordinary Resolution)

Voting Process and Methods

The company provided multiple voting mechanisms:

  • Remote e-voting facility through National Securities Depository Limited (NSDL) was available from 9:00 AM (IST) on September 22, 2026 until 5:00 PM (IST) on September 24, 2026
  • E-voting facility during the AGM was available for members who had not cast votes through remote e-voting
  • The voting facility remained open for 30 minutes after the conclusion of the AGM
  • Mr. Vijayakrishna K T, Practising Company Secretary, was appointed as Scrutinizer to scrutinize the remote e-voting process and e-voting during the AGM

Key Voting Outcomes

The voting results and Scrutinizer's Report were not available at the time of this disclosure and will be submitted separately upon receipt. Mr. Murugesh C, Company Secretary and Compliance Officer, was authorized to declare the voting results and place them on the websites of the Company, NSDL, and Stock Exchanges upon receipt of the Scrutinizer's Report.

Compliance Confirmation

The meeting was conducted in compliance with applicable provisions of the Companies Act, 2013, SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and relevant circulars from MCA and SEBI. The statutory registers and other documents required under the Companies Act, 2013 were available electronically for inspection during the AGM.

Additional Financial and Operational Information

The Chairman's address and CEO's presentation included significant financial and operational updates:

Financial Performance FY 2025-26:

  • Consolidated revenue: ₹5,050 crore (116% growth YoY)
  • EBITDA: ₹1,734 crore (140% growth YoY)
  • Profit after tax: ₹1,082 crore (193% growth YoY)

Operational Highlights:

  • Installed capacity: 10.3 GW modules and 2.94 GW cells
  • Module production: 2,999 MW (vs. 1,482 MW previous year)
  • Cell production: 1,520 MW
  • Order book: 9.4 GW (vs. 4.9 GW at beginning of year)
  • Workforce: 3,800+ employees

Expansion Plans:

  • 6 GW integrated cell and module project at Devanahalli (will increase capacity to 16.3 GW modules and 8.94 GW cells)
  • Future plans for approximately 9 GW of ingot and wafer manufacturing capacity in phases
  • Technology focus on TOPCon cell technology and G12R-format cells

The meeting concluded at 4:55 PM (IST) with the e-voting facility remaining open for an additional 30 minutes for members who had not yet cast their votes.