Meeting Details

  • Date: Monday, 28th September, 2026
  • Type: 58th Annual General Meeting
  • Mode: Conducted through Video Conference (VC)/Other Audio-Visual Means (OAVM)
  • Record Date: 21st September, 2026
  • Total Shareholders on Record Date: 188,376

Proposed Resolutions and Implications

The AGM considered eight resolutions:

Ordinary Business:

1. Adoption of Audited Financial Statements for FY ended 31st March 2026 and reports of Board of Directors and Auditors

2. Declaration of dividend on equity shares for FY ended 31st March 2026

3. Re-appointment of Mr. Nikhil Naik (DIN: 00202779) as Director retiring by rotation

Special Business:

4. Ratification of remuneration payable to Cost Auditors for FY 2026-27

5. Re-appointment of Mrs. Vanessa Singh (DIN: 09342022) as Independent Director for second term of five years

6. Re-appointment of Mr. Zubin Billimoria (DIN: 07144644) as Independent Director for second term of five years

7. Re-appointment of Mr. Sriraman Raghuraman (DIN: 00228061) as Independent Director for second term of five years under SEBI LODR Regulation 17(1A)

8. Re-appointment of Mr. Ratnakar Barve (DIN: 09341821) as Whole-time Director

Voting Process and Methods

  • Remote e-voting period: Thursday, 24th September 2026 at 9:00 AM to Sunday, 27th September 2026 at 5:00 PM
  • Insta-poll voting conducted during the AGM
  • Electronic voting system provided by National Securities Depositories Limited (NSDL)
  • Scrutinizer: Mandar Jog, Partner of Jog Limaye & Associates, Practicing Company Secretaries

Key Voting Outcomes

Overall Participation:

  • Total Outstanding Shares: 152,939,345
  • Total Votes Polled: 112,861,838 (73.80% of outstanding shares)

Resolution-wise Results:

Resolution 1 - Adoption of Financial Statements:

  • Total Votes: 112,861,838
  • In Favor: 112,679,436 (99.8384%)
  • Against: 182,402 (0.1616%)

Resolution 2 - Dividend Declaration:

  • Total Votes: 112,911,115
  • In Favor: 112,910,255 (99.9992%)
  • Against: 860 (0.0008%)

Resolution 3 - Re-appointment of Nikhil Naik:

  • Total Votes: 112,902,726
  • In Favor: 112,113,038 (99.3006%)
  • Against: 789,688 (0.6994%)

Resolution 4 - Cost Auditor Remuneration Ratification:

  • Total Votes: 112,902,731
  • In Favor: 112,897,404 (99.9953%)
  • Against: 5,327 (0.0047%)

Resolution 5 - Re-appointment of Vanessa Singh:

  • Total Votes: 112,902,731
  • In Favor: 112,180,131 (99.3600%)
  • Against: 722,600 (0.6400%)

Resolution 6 - Re-appointment of Zubin Billimoria:

  • Total Votes: 112,902,742
  • In Favor: 112,340,731 (99.5022%)
  • Against: 562,011 (0.4978%)

Resolution 7 - Re-appointment of Sriraman Raghuraman:

  • Total Votes: 112,887,931
  • In Favor: 112,325,800 (99.5020%)
  • Against: 562,131 (0.4980%)

Resolution 8 - Re-appointment of Ratnakar Barve:

  • Total Votes: 112,905,141
  • In Favor: 110,681,635 (98.0306%)
  • Against: 2,223,506 (1.9694%)

Shareholder Category Breakdown

Promoter and Promoter Group:

  • Shares Held: 54,841,170
  • Votes Polled: 54,833,670 (99.9863% participation)
  • Voted unanimously in favor of all resolutions (100%)

Public Institutions:

  • Shares Held: 40,316,123
  • Votes Polled: 29,667,854 (73.5881% participation)
  • Showed highest opposition to director reappointments, particularly Resolution 8 (7.48% against)

Public Non-Institutions:

  • Shares Held: 57,782,052
  • Votes Polled: 28,404,507-28,403,617 (approx. 49.15-49.16% participation)
  • Generally supportive with minimal opposition across resolutions

Scrutinizer's Role and Findings

Mandar Jog of Jog Limaye & Associates was appointed to scrutinize both remote e-voting and insta-poll processes. The scrutinizer verified that:

  • Voting processes were conducted fairly and transparently
  • Results were generated from NSDL's electronic voting system
  • Votes were unblocked in the presence of witnesses at 01:03 PM on 28th September 2026
  • All resolutions received the required majority for approval

Compliance Confirmation

The voting process complied with:

  • Section 108 of the Companies Act, 2013
  • Rule 20 of the Companies (Management and Administration) Rules, 2014
  • Regulation 44(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Additional Information

The Consolidated Scrutinizer's Report is available on the company's website at: https://www.finolex.com/View/Page/Voting-Results