Meeting Details
The 79th Annual General Meeting was convened on Friday, 10th July 2026 through Video Conferencing/Other Audio Video Means at 10:30 a.m. IST. The meeting concluded at 01:14 p.m. IST, lasting 44 minutes.
Attendance
Directors Present:
- Mr. Sridhar Gorthi (Chairman) - from Mumbai
- Mr. Avik Roy (Managing Director and CEO) - from Kolkata
- Mr. Jaidit Singh Brar (Non-Executive, Independent Director) - from Gurgaon
- Mr. Manoj Kumar Agarwal (Director-Finance & CFO) - from Kolkata
- Mr. Pravin Saraf (Executive Director) - from Bengaluru
- Mr. Rajeev Khandelwal (Executive Director) - from Kolkata
- Mr. Surin Kapadia (Non-Executive, Independent Director) - from Mumbai
- Mr. Jitendra Kumar (Company Secretary & President-Legal & Corporate Affairs) - from Kolkata
Other Attendees:
Statutory Auditors (BSR & Co. LLP), Secretarial Auditor (M/s. Labh & Labh Associates), Cost Auditors (Mani & Co.), and Scrutinizer (Mr. Anjan Roy) were present through VC from their respective locations.
Members Attendance: 197 members attended the meeting. Quorum requirements under Section 103 of the Companies Act, 2013 were met throughout the meeting.
Voting Process
The company provided remote e-voting facility through NSDL from Tuesday, 7th July 2026 at 9:00 a.m. to Thursday, 9th July 2026 at 5:00 p.m. Cut-off date for determining voting eligibility was Friday, 3rd July 2026. Facility for e-voting during the AGM was also provided for members who had not cast their vote remotely.
Proceedings Summary
The Chairman welcomed members and provided an overview of the global and domestic economic environment, company performance during FY 2025-26, progress in new energy business, and sustainability objectives. Mr. Avik Kumar Roy, MD & CEO, addressed shareholders on industry trends, operational and financial performance amidst geopolitical uncertainties and commodity price volatility, benefits of 'One Exide' operating model, R&D progress, digital transformation initiatives, lithium-ion business advancements, and ESG initiatives.
Shareholder Interaction
27 shareholders spoke at the meeting and sought clarifications on various matters including company performance, impact of commodity price volatility and geopolitical developments, outlook for international operations, capital expenditure plans, capacity utilisation, adoption of artificial intelligence, competitiveness in EV battery segment, and sustainability/CSR initiatives. Management addressed each query with explanations and clarifications.
Resolutions Considered and Voting Results
All five resolutions were passed with requisite majority as per the scrutinizer's report by M/s. Anjan Kumar Roy & Co., Practicing Company Secretaries:
1. Ordinary Business - Adoption of Financial Statements
- Votes in favor: 648,222,157 (99.9944%)
- Votes against: 36,618 (0.0056%)
- Invalid votes: 0
2. Ordinary Business - Declaration of Final Dividend of ₹2 per share (200%)
- Votes in favor: 648,415,934 (99.9989%)
- Votes against: 7,187 (0.0011%)
- Invalid votes: 0
3. Ordinary Business - Re-appointment of Mr. Manoj Kumar Agarwal (DIN: 11040471)
- Votes in favor: 630,365,091 (97.2151%)
- Votes against: 18,058,230 (2.7849%)
- Invalid votes: 0
4. Special Business - Ratification of remuneration payable to Cost Auditor (Mani & Co.) for FY 2026-27
- Votes in favor: 648,406,182 (99.9974%)
- Votes against: 17,126 (0.0026%)
- Invalid votes: 0
5. Special Business - Revision in terms of remuneration of Mr. Manoj Kumar Agarwal, Director-Finance and CFO
- Votes in favor: 647,505,309 (99.8584%)
- Votes against: 918,037 (0.1416%)
- Invalid votes: 0
Additional Information
Leave of absence was granted to Mr. RB Raheja (Vice-Chairman & Non-executive Non-independent Director) and Ms. Radhika Govind Rajan (Non-executive Independent Director) due to pre-commitments.
The video recording of the proceedings is available on the company's website at www.exideindustries.com. Voting results pursuant to Regulation 44(3) of Listing Regulations will be submitted in due course.