Meeting Details

  • Date: Tuesday, August 11, 2026
  • Time: 01:00 p.m. IST
  • Location: Conducted through video conferencing/other audio visual means
  • Type of Meeting: 68th Annual General Meeting
  • Cut-off date for shareholder eligibility: August 4, 2026
  • Total shareholders as of cut-off date: 23,090
  • Members present: 51 members attended through video conferencing

Proposed Resolutions and Outcomes

All six resolutions proposed at the AGM were passed with requisite majority:

Resolution 1: Adoption of Financial Statements

  • Type: Ordinary Resolution
  • Description: To receive, consider and adopt (a) the audited standalone financial statement for FY ended March 31, 2026, and reports of Board of Directors and Auditors; and (b) the audited consolidated financial statement for FY ended March 31, 2026 and report of Auditors
  • Voting Results:
  • Total votes cast: 18,111,510 (51.0779% of outstanding shares)
  • Votes in favor: 18,111,438 (99.9996%)
  • Votes against: 72 (0.0004%)

Resolution 2: Dividend Declaration

  • Type: Ordinary Resolution
  • Description: To declare dividend on equity shares for FY ended March 31, 2026 at rate of Rs. 1.40 per equity share (70% of face value of Rs. 2/- each)
  • Voting Results:
  • Total votes cast: 18,111,510 (51.0779% of outstanding shares)
  • Votes in favor: 18,111,438 (99.9996%)
  • Votes against: 72 (0.0004%)

Resolution 3: Director Re-appointment

  • Type: Ordinary Resolution
  • Description: To appoint Mr. Parimal Merchant (DIN: 00201962) as Non-Independent Non-Executive Director liable to retire by rotation
  • Voting Results:
  • Total votes cast: 18,111,510 (51.0779% of outstanding shares)
  • Votes in favor: 18,100,294 (99.9381%)
  • Votes against: 11,216 (0.0619%)

Resolution 4: Cost Auditor Remuneration

  • Type: Ordinary Resolution
  • Description: Ratification of remuneration payable to Cost Auditors for FY 2026-27
  • Voting Results:
  • Total votes cast: 18,111,510 (51.0779% of outstanding shares)
  • Votes in favor: 18,111,438 (99.9996%)
  • Votes against: 72 (0.0004%)

Resolution 5: Managing Director Re-appointment

  • Type: Special Resolution
  • Description: Re-appointment of Mr. Suramya Nevatia (DIN: 06703910) as Managing Director for 3 years with effect from August 17, 2026
  • Promoter interest: Yes
  • Voting Results:
  • Total votes cast: 18,111,510 (51.0779% of outstanding shares)
  • Votes in favor: 18,108,470 (99.9832%)
  • Votes against: 3,040 (0.0168%)

Resolution 6: Executive Director Remuneration Revision

  • Type: Special Resolution
  • Description: Revision in remuneration payable to Mrs. Akshada Nevatia (DIN: 05357438), Executive Director during existing tenure and change in terms of appointment
  • Promoter interest: Yes
  • Voting Results:
  • Total votes cast: 18,111,550 (51.0780% of outstanding shares)
  • Votes in favor: 15,903,006 (87.8059%)
  • Votes against: 2,208,544 (12.1941%)

Voting Process and Methods

The voting process included:

  • Remote e-voting: Available from Friday, August 7, 2026 at 09:00 a.m. IST to Monday, August 10, 2026 at 05:00 p.m. IST through National Securities Depository Limited (www.evoting.nsdl.com)
  • E-voting during AGM: Facility provided for members who did not vote remotely
  • Voting unblocking: Conducted on August 11, 2026 at 01:48 p.m. in presence of two witnesses (Ms. Sonia Chettiar and Ms. Sumriddhi Kabra)

Shareholder Category Breakdown

Promoter and Promoter Group

  • Shares held: 15,097,712
  • Voting participation: 100% across all resolutions
  • Unanimous support for all resolutions (100% in favor)

Public Institutions

  • Shares held: 3,512,884
  • Voting participation: 62.9466% across resolutions
  • High support for most resolutions (99.5-100% in favor)

Public Non-Institutions

  • Shares held: 16,848,009
  • Voting participation: 4.7635-4.7638% across resolutions
  • High support for most resolutions (99.99% in favor)

Scrutinizer's Role and Findings

  • Scrutinizer: M/s. GMJ & Associates, Company Secretaries, represented by Mr. Mahesh Soni, Partner
  • Responsibilities: Scrutinizing remote e-voting process and e-voting during AGM
  • Findings: All resolutions passed with requisite majority, no duplicate votes detected
  • Report date: August 11, 2026

Compliance Confirmation

The company confirmed compliance with:

  • SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • Companies Act, 2013
  • Companies (Management and Administration) Rules, 2014
  • MCA and SEBI circulars regarding virtual meetings

Additional Information

  • The company changed name from Hind Rectifiers Limited to Hirect Limited
  • Information uploaded to company website (www.hirect.com) and NSDL website (www.evoting.nsdl.com)
  • Statutory registers, certificates and documents were kept available for member inspection
  • Queries from shareholders were responded to by the Executive Director & CFO and CEO