Meeting Details

The 41st AGM was held on September 23, 2026 at 11:30 a.m. IST through Video Conferencing/Other Audio Visual Means. The deemed venue was the Registered Office at Office No. 3, Level-2, Centrium, Phoenix Market City, 15, LBS Road, Kurla (West), Mumbai 400 070. Cut-off date for determining voting rights was September 16, 2026.

Proposed Resolutions and Implications

Five resolutions were proposed:

1. Adoption of Audited Standalone and Consolidated Financial Statements with Board Report and Auditors' Report for FY ended March 31, 2026 (Ordinary Resolution)

2. Re-appointment of Mr. Shrinivas Dempo (DIN: 00043413) as Director retiring by rotation (Ordinary Resolution)

3. Ratification of remuneration payable to the Cost Auditor (Ordinary Resolution)

4. Increase in borrowing power under Section 180(1)(c) of Companies Act, 2013 up to ₹1,300 Crores (Special Resolution)

5. Authorization to create/modify charge on company assets under Section 180(1)(a) to secure borrowings (Special Resolution)

Voting Process

Remote e-voting was conducted by MUFG InTime India Private Limited from September 20, 2026 (9:00 a.m. IST) to September 22, 2026 (5:00 p.m. IST). E-voting facility was also provided during the AGM for shareholders who had not voted remotely.

Key Voting Outcomes

Total Shareholders: 59,245 as of record date (September 16, 2026)

Meeting Attendance: 60 shareholders (10 Promoters/Promoter Group, 50 Public)

Item 1 - Adoption of Financial Statements:

  • Total votes polled: 90,601,632 (74.78% of outstanding shares)
  • Votes in favor: 90,601,621 (100.0000% of votes polled)
  • Votes against: 11 (0.0000% of votes polled)

Item 2 - Re-appointment of Director:

  • Total votes polled: 96,969,740 (80.0327% of outstanding shares)
  • Votes in favor: 94,303,631 (97.2506% of votes polled)
  • Votes against: 2,666,109 (2.7494% of votes polled)
  • Significant opposition from Public Institutions (18.3535% against in e-voting)

Item 3 - Ratification of Cost Auditor Remuneration:

  • Total votes polled: 96,969,740 (80.0327% of outstanding shares)
  • Votes in favor: 96,969,524 (99.9998% of votes polled)
  • Votes against: 216 (0.0002% of votes polled)

Item 4 - Borrowing Limit Increase to ₹1,300 Crores:

  • Total votes polled: 96,969,740 (80.0327% of outstanding shares)
  • Votes in favor: 96,775,731 (99.7999% of votes polled)
  • Votes against: 194,009 (0.2001% of votes polled)
  • 3 voters with 542, 6,888 and 593 shares in favor; 3 voters with 74,786, 3,370 and 8,762 shares against

Item 5 - Authorization to Create Charge on Assets:

  • Total votes polled: 96,969,740 (80.0327% of outstanding shares)
  • Votes in favor: 96,775,721 (99.7999% of votes polled)
  • Votes against: 194,019 (0.2001% of votes polled)
  • 3 voters with 542, 6,888 and 593 shares in favor; 3 voters with 74,786, 3,370 and 8,762 shares against

Scrutinizer's Role and Findings

Mr. Amit Surase, Practicing Company Secretary (CP No.: 18482/Membership No. 26485) of M/s AUS & Co was appointed as Scrutinizer. All 156 remote/e-voting responses were found valid. The scrutinizer confirmed that all resolutions were passed by the requisite majority.

Compliance Confirmation

The voting process complied with Section 108 of the Companies Act, 2013 read with Rule 20 of the Companies (Management and Administration) Rules, 2014, and Regulation 44 of SEBI LODR Regulations. The meeting was conducted in accordance with MCA General Circulars allowing VC/OAVM meetings.

Additional Information

The company is registered as CIN: L15139MH1984PLC316003 and trades on NSE (Symbol: HNDFDS) and BSE (Scrip Code: 519126).