Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Meeting Details

The 33rd AGM was held on Tuesday, September 29, 2026, at 10:30 A.M. at the Registered Office of the Company situated at State Highway No. 41, Near Sujanpur Patia, Sidhpur, Patan, Gujarat – 384151.

Proposed Resolutions and Implications

Six resolutions were proposed and approved:

1. Ordinary Resolution: To receive, consider and adopt the Audited Standalone and Consolidated Financial Statements for FY26 ended March 31, 2026, along with reports of Board of Directors and Auditors

2. Ordinary Resolution: Re-appointment of Mr. Shaunak Bhikhalal Mandalia (DIN: 06649347) as Director retiring by rotation

3. Special Resolution: Re-appointment of Mr. Jayendrasinh Pratapsinh Gharia (DIN: 05227700) as Independent Director

4. Special Resolution: Appointment of Mrs. Mansi Viral Parikh (DIN: 11790922) as Independent Director

5. Ordinary Resolution: Approval of material related party transactions with subsidiary during FY 2026-27

6. Ordinary Resolution: Approval of material related party transactions with subsidiary during FY 2026-27

Voting Process and Methods

Voting was conducted through:

  • Remote e-voting: Open from 9:00 a.m. on Saturday, September 26, 2026, to 5:00 p.m. on Monday, September 28, 2026, via CDSL platform
  • Physical ballot voting: Conducted at the AGM venue for shareholders present who had not voted remotely

Key Voting Outcomes

Overall Participation:

  • Total shareholders as on cut-off date: 20,797
  • Shareholders present at meeting: 42 (1 Promoter, 41 Public)
  • Total votes cast: 75,433,818 shares (76.1996% of outstanding 98,995,000 shares)
  • No invalid votes recorded in any resolution

Resolution-wise Results:

Resolution 1 (Ordinary - Financial Statements):

  • Total votes: 75,433,818 (76.1996%)
  • Votes in favor: 75,433,568 (99.9997%)
  • Votes against: 250 (0.0003%)
  • Result: PASSED

Resolution 2 (Ordinary - Director Re-appointment):

  • Total votes: 75,433,818 (76.1996%)
  • Votes in favor: 75,433,568 (99.9997%)
  • Votes against: 250 (0.0003%)
  • Result: PASSED

Resolution 3 (Special - Independent Director Re-appointment):

  • Total votes: 75,433,818 (76.1996%)
  • Votes in favor: 75,196,526 (99.6854%)
  • Votes against: 237,292 (0.3146%)
  • Result: PASSED

Resolution 4 (Special - Independent Director Appointment):

  • Total votes: 75,433,818 (76.1996%)
  • Votes in favor: 75,433,568 (99.9997%)
  • Votes against: 250 (0.0003%)
  • Result: PASSED

Resolution 5 (Ordinary - RPT Approval):

  • Total valid votes: 12,115,449 (12.2384% after excluding invalid votes)
  • Votes in favor: 11,878,157 (98.0414%)
  • Votes against: 237,292 (1.9586%)
  • Invalid votes: 15,761,500 (excluded from count)
  • Result: PASSED

Resolution 6 (Ordinary - RPT Approval):

  • Total valid votes: 12,115,449 (12.2384% after excluding invalid votes)
  • Votes in favor: 12,115,199 (99.9979%)
  • Votes against: 250 (0.0021%)
  • Invalid votes: 15,761,500 (excluded from count)
  • Result: PASSED

Participation Breakdown by Shareholder Category

Promoter and Promoter Group:

  • Shares held: 73,258,379
  • Votes polled: 63,318,369 (86.4316% participation)
  • 100% voted in favor on all resolutions except abstained on RPT resolutions

Public Institutions:

  • Shares held: 776,728
  • Votes polled: 252,199 (32.4694% participation)
  • Mixed voting pattern across resolutions

Public Non-Institutions:

  • Shares held: 24,959,893
  • Votes polled: 11,863,250 (47.5293% participation)
  • Overwhelmingly voted in favor across all resolutions

Scrutinizer's Role and Findings

Mr. Yash Mehta, Practicing Company Secretary, was appointed as Scrutinizer pursuant to Sections 108 and 109 of the Companies Act, 2013. His responsibilities included:

  • Scrutinizing remote e-voting and physical ballot process
  • Ensuring fair and transparent voting process
  • Preparing consolidated scrutinizer's report

Key findings:

  • Notice of AGM dispatched by email on September 3, 2026
  • Newspaper advertisements published in Financial Express (Gujarati and English) on September 4, 2026
  • Cut-off date for voting eligibility: September 22, 2026
  • Physical ballot counting completed first, followed by e-vote unblocking on September 29, 2026, at 11:28 A.M.
  • No invalid ballot papers found
  • All voting records maintained in scrutinizer's safe custody until minutes approval

Compliance Confirmation

The voting process and results disclosure comply with:

  • Regulation 44 of SEBI (LODR) Regulations, 2015
  • Sections 108 and 109 of the Companies Act, 2013
  • Rule 20 and 21 of the Companies (Management and Administration) Rules, 2014