Meeting Details

  • Date: September 25, 2026
  • Type: 42nd Annual General Meeting
  • Mode: Video Conferencing (VC) / Other Audio-Visual Means (OAVM)
  • Deemed Venue: Registered office at Tandalja Road Off Old Padra Road, Vadodara, Gujarat, India, 390020
  • Time: 11:00 AM IST

Proposed Resolutions and Implications

Six resolutions were proposed and all passed with requisite majority:

1. Ordinary Resolution: Adoption of audited standalone and consolidated financial statements for FY ended March 31, 2026, together with reports of Board of Directors and Auditors

2. Ordinary Resolution: Re-appointment of Mr. Ashok Kumar Goel (DIN: 00025350) as director who retires by rotation

3. Special Resolution: Increase in borrowing limits from ₹750 Crores to ₹1,000 Crores

4. Special Resolution: Creation of charges on movable and immovable properties (present and future) for borrowings

5. Special Resolution: Making investments, giving loans, guarantees and security in excess of limits under Section 186 of Companies Act, 2013

6. Ordinary Resolution: Ratification of remuneration to Cost Auditor for FY 2026-27

Voting Process and Methods

  • Remote e-voting period: September 20, 2026 (9:00 AM IST) to September 24, 2026 (5:00 PM IST)
  • E-voting during AGM: Facilitated for members present who hadn't voted remotely
  • Voting agency: CDSL provided the e-voting platform
  • Cut-off date: September 18, 2026 for determining voting entitlements

Key Voting Outcomes

Resolution 1: Adoption of Financial Statements (Ordinary)

  • Total votes cast: 43,049,871 shares (32.5535% of outstanding shares)
  • In favor: 38,853,566 shares (90.2525%)
  • Against: 4,196,305 shares (9.7475%)

Resolution 2: Director Re-appointment (Ordinary)

  • Total votes cast: 24,584,793 shares (18.5906% of outstanding shares)
  • In favor: 24,579,463 shares (99.9783%)
  • Against: 5,330 shares (0.0217%)

Resolution 3: Borrowing Limit Increase (Special)

  • Total votes cast: 43,049,871 shares (32.5535% of outstanding shares)
  • In favor: 38,850,363 shares (90.2450%)
  • Against: 4,199,508 shares (9.7550%)

Resolution 4: Creation of Charges (Special)

  • Total votes cast: 43,049,871 shares (32.5535% of outstanding shares)
  • In favor: 41,343,209 shares (96.0356%)
  • Against: 1,706,662 shares (3.9644%)

Resolution 5: Section 186 Approvals (Special)

  • Total votes cast: 43,049,871 shares (32.5535% of outstanding shares)
  • In favor: 40,403,700 shares (93.8532%)
  • Against: 2,645,969 shares (6.1463%)

Resolution 6: Cost Auditor Remuneration (Ordinary)

  • Total votes cast: 43,049,871 shares (32.5535% of outstanding shares)
  • In favor: 43,045,055 shares (99.9888%)
  • Against: 4,816 shares (0.0112%)

Shareholder Participation Breakdown

Total outstanding shares: 132,243,289

Promoter and Promoter Group: 0 shares (0% participation across all resolutions)

Public - Institutional Holders: 2,805,485 shares

  • Resolution 1: 1,226,214 votes (43.7077% participation)
  • Resolution 2: 1,226,214 votes (43.7077% participation)
  • Resolution 3: 1,226,214 votes (43.7077% participation)
  • Resolution 4: 1,226,214 votes (43.7077% participation)
  • Resolution 5: 1,226,214 votes (43.7077% participation)
  • Resolution 6: 1,226,214 votes (43.7077% participation)

Public - Others: 129,437,804 shares

  • Resolution 1: 41,823,657 votes (32.3118% participation)
  • Resolution 2: 23,358,579 votes (18.0462% participation)
  • Resolution 3: 41,823,657 votes (32.3118% participation)
  • Resolution 4: 41,823,657 votes (32.3118% participation)
  • Resolution 5: 41,823,657 votes (32.3118% participation)
  • Resolution 6: 41,823,657 votes (32.3118% participation)

Scrutinizer's Role and Findings

S Sandeep & Associates, Practising Company Secretaries, were appointed as scrutinizer via board resolution dated August 12, 2026. They verified:

  • The e-voting process was conducted fairly and transparently
  • Voting data was downloaded from CDSL system in presence of two independent witnesses (Ms. Novina and Ms. Shiva Ranjani)
  • All resolutions passed with requisite majority as required by Companies Act, 2013
  • Electronic voting records will remain with scrutinizer until minutes are approved, then transferred to Company Secretary

Compliance Confirmation

The company confirmed compliance with:

  • SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • Companies Act, 2013 and Rules thereunder
  • MCA circulars regarding virtual meetings (including Circulars No.14/2020, 17/2020, 20/2020, 22/2020, 33/2020, 39/2020, 02/2021, 10/2021, 20/2021, 02/2022, 10/2022, 11/2022, 9/2023, 9/2024 and 03/2025)
  • SEBI circulars on electronic voting

Public advertisements were published in Business Line (English), Business Standard (English) and Loksatta (Gujarati) on August 29, 2026 and September 3, 2026.

Additional Information

  • Company CIN: L11100GJ1996PLC029880
  • Scrutinizer Peer Review No.: 6526/2025
  • UDIN: F005853H001610852