Meeting Details

The 43rd Annual General Meeting of G.M. Breweries Limited was held on Thursday, May 28, 2026 through Video Conferencing/Other Audio Visual Means (VC/OAVM). The meeting commenced at 11:30 AM and concluded at 12:13 PM.

Attendance

Board Members Present:

  • Mr. Jimmy Almeida Kashyap - Chairman & Managing Director and Member
  • Mrs. Jyoti Almeida Kashyap - Member
  • Mr. Kiran Parashare - Whole Time Director and Member
  • Mr. Hardik Shah - Independent Director
  • Mrs. Urmi Shah - Independent Director
  • Ms. Shivani Soni - Independent Director

In Attendance:

  • Mr. S. Swaminathan - Chief Financial Officer
  • Mr. Sandeep Kutchhi - Vice President Finance & Company Secretary

Invitees:

  • Mr. Vipul P. Mehta - Statutory Auditor
  • Mrs. Kala Agarwal - Secretarial Auditor

Members: 80 members present as per attendance record

Meeting Proceedings

Mr. Jimmy Almeida Kashyap presided as Chairman of the meeting. The notice convening the 43rd Annual General Meeting dated April 09, 2026 was declared as read.

The Register of Director's Shareholding, Register of Members, Auditor's Report, Secretarial Audit Report and Annual Return were confirmed to be available for inspection at the company's registered office.

Remote e-voting facility was provided to members from Monday, May 25, 2026 at 9:00 AM until Wednesday, May 27, 2026 at 5:00 PM, with additional e-voting facility during the meeting.

The Chairman noted that there were no qualifications, observations or comments in the Auditors report that would have any adverse effect on the company's functioning.

The Chairman addressed that the company performed commendably despite tough market conditions with high prices of Raw Material and Packing Material throughout the financial year.

Questions & Answers

Members appreciated:

  • The Company's performance
  • Consistent dividend payouts
  • Investment strategy

All questions were satisfactorily addressed by the Chairman.

Resolutions Passed

Ordinary Business

1. Adoption of Financial Statements

Resolution: To receive, consider and adopt the Balance Sheet as at March 31, 2026 and Profit and Loss Account for the year ended on that date, together with Reports of Directors and Auditors.

Outcome: Passed with requisite majority through e-voting process and voting during AGM.

2. Declaration of Dividend

Resolution: To confirm payment of Final Dividend on Equity Shares for financial year 2025-26 at the rate of 90% on 2,28,46,923 fully paid Equity Shares of ₹10/- each, as declared by the Board of Directors in their meeting held on April 09, 2026.

Outcome: Passed with requisite majority through e-voting process and voting during AGM.

3. Re-appointment of Mrs. Jyoti Almeida Kashyap

Resolution: Re-appointment of Mrs. Jyoti Almeida Kashyap (DIN: 00112031) who retires by rotation and offered herself for re-appointment.

Outcome: Passed with requisite majority through e-voting process and voting during AGM.

4. Re-appointment of Mr. Kiran Parashare

Resolution: Re-appointment of Mr. Kiran Parashare (DIN: 06587810) who retires by rotation and offered himself for re-appointment.

Outcome: Passed with requisite majority through e-voting process and voting during AGM.

Special Business

5. Appointment of Mr. Kiran Parashare as Whole Time Director and Remuneration

Resolution: Appointment of Mr. Kiran Parashare (DIN: 06587810) as Whole Time Director for a period of 5 years with effect from April 1, 2026 with the following remuneration terms:

  • Salary: ₹3,00,000/- in the scale of ₹3,00,000/- to ₹5,00,000/- per month
  • Perquisites: Includes Company owned house or House Rent Allowance, Car, Electricity, Medical Expenses reimbursement for self and family, Leave Travel Concession for self and family, club fees, medical insurance, etc., limited to actual or the Annual Salary whichever is less
  • Provision of car for company business and telephone at residence (personal usage to be billed)
  • Company's Contribution to Provident Fund, Gratuity and leave encashment as per company rules

In case of absence or inadequacy of profit in any financial year, remuneration shall be governed as provided under Section II of Part II of Schedule V to the Companies Act, 2013, with excess payments to be recovered.

Mr. Parashare will be liable to retire by rotation.

The Board of Directors was authorized to perform all necessary acts to give effect to this resolution.

Outcome: Passed with requisite majority through e-voting process and voting during AGM.

Voting Process

All resolutions were put to vote through remote e-voting and scrutinized by Ms. Kala Agarwal, practicing company secretary, who issued her scrutinizer report on May 28, 2026. The voting results were announced by the Chairman on May 28, 2026 and emailed to both Bombay Stock Exchange & National Stock Exchange and published on the company website.

The voting window remained open for 15 minutes after the meeting conclusion to facilitate shareholders casting their votes.

Meeting Conclusion

The meeting concluded with a vote of thanks by the CFO at 12:13 PM.