Meeting Details
The 47th Annual General Meeting of Happy Forgings Limited was held on Monday, July 27, 2026 at 11:30 AM IST through Video Conferencing/Other Audio Visual Means. The Registered Office of the Company (B-XXIX-2254/1, Kanganwal Road, P O Jugiana, Ludhiana-141120, Punjab) was the deemed venue. The meeting concluded at 01:03 PM IST after being open for 30 minutes for e-voting.
Directors Present
- Mr. Paritosh Kumar: Chairman and Managing Director
- Mr. Ashish Garg: Managing Director and Chairperson of Risk Management Committee
- Ms. Megha Garg: Whole-time Director
- Ms. Rajeswari Karthigeyan: Independent Director and Chairperson of Audit Committee
- Mr. Ravindra Pisharody: Independent Director and Chairperson of Stakeholders' Relationship Committee & Nomination & Remuneration Committee
Mr. Atul B. Lall, Independent Director, could not join due to preoccupation and was granted leave of absence.
Other Attendees
- Ms. Bindu Garg: Company Secretary & Compliance Officer
- Mr. Pankaj Kumar Goyal: Chief Financial Officer
- Mr. Pravin Tulsyan: Representative, SR Batliboi & Co LLP (Statutory Auditors)
- Mr. Rupesh Agrawal: Representative, Chandrasekaran Associates (Secretarial Auditors)
- Mr. Rajan Sabharwal: Representative, Rajan Sabharwal & Associates (Cost Auditors)
- Mr. P S Bathla: Representative, P S Bathla & Associates (Scrutinizer)
Key Proceedings
Ms. Bindu Garg, Company Secretary, confirmed that the notice of AGM and Annual Report for FY ended March 31, 2026 had been circulated electronically. The Statutory Auditors' Report contained no qualifications, observations, or adverse remarks. The Secretarial Audit Report contained no qualifications but included a factual disclosure regarding procedural delay in reconstitution of NRC after completion of term of one Independent Director, with details explained in the Board's Report.
Remote e-voting facility was available from 9:00 AM IST on July 24, 2026 to 5:00 PM IST on July 26, 2026. Members who hadn't voted remotely could vote during the meeting, with e-voting available for 30 minutes after meeting closure.
Mr. Paritosh Kumar, Chairman, confirmed quorum was present and highlighted key developments and performance for FY 2025-26. Mr. Ashish Garg, Managing Director, addressed shareholders, highlighting strong financial and operational performance despite challenging global environment, and reiterated long-term growth strategy centered on "Mind. Method. Mettle." theme.
Resolutions Voted On
Ordinary Business:
1. Adoption of Audited Standalone Financial Statements for FY ended March 31, 2026
2. Adoption of Audited Consolidated Financial Statements for FY ended March 31, 2026
3. Declaration of final dividend of ₹4 per equity share for FY ended March 31, 2026
4. Reappointment of Mr. Ashish Garg (DIN: 01829082) as Managing Director
Special Business:
5. Ratification of remuneration payable to M/s. Rajan Sabharwal & Associates, Cost Auditors
6. Approval of commission payable to Independent Directors
7. Reappointment of Ms. Megha Garg (DIN: 07352042) as Whole-Time Director for another five years
8. Reappointment of Mr. Ravindra Pisharody (DIN: 01875848) as Independent Director for second term from June 16, 2027 to November 15, 2030
Voting and Results
Mr. Parminder Singh Bathla of M/s. P S Bathla & Associates was appointed as Scrutinizer to supervise the e-voting process. Results of remote e-voting and voting during AGM, together with Scrutinizer's report, will be intimated to stock exchanges and uploaded on company website, and displayed on notice board at registered office within stipulated time. Ms. Bindu Garg was authorized for these submissions.
Question & Answer Session
The meeting included a Q&A session where registered Speaker Shareholders were unmuted to ask questions. Shareholders who didn't register as speakers could use the chat box. Management addressed questions raised, with unanswered queries to be addressed separately via email.
#Tags: #HappyForgings #AGM #Dividend #SEBIDisclosure #RegulatoryCompliance