Meeting Details

The 32nd Annual General Meeting was held on Friday, July 24, 2026 at 11:00 a.m. (IST) through Video Conferencing/Other Audio-Visual Means. The meeting was convened by notice dated July 1, 2026.

Proposed Resolutions and Implications

Nine resolutions were put to vote:

1. Ordinary Resolution: To receive, consider and adopt Audited Financial Statements for FY ended March 31, 2026 with Reports of Board of Directors and Auditors

2. Ordinary Resolution: To declare dividend on equity shares for FY ended March 31, 2026

3. Ordinary Resolution: To appoint Mr. Sajjan Jindal (DIN: 00017762) as Director retiring by rotation (Promoter interested)

4. Ordinary Resolution: Ratification of Remuneration payable to M/s. Shome & Banerjee, Cost Auditors for FY ending March 31, 2027

5. Special Resolution: Re-appointment of Ms. Fiona Jane Mary Paulus (DIN: 09618098) as Independent Director

6. Special Resolution: Appointment of Mr. Devopam Bajpai (DIN: 00050516) as Independent Director

7. Special Resolution: Consent for issue of specified securities to Qualified Institutional Buyers (QIBs)

8. Ordinary Resolution: Approval for material related party transactions with JSW JFE Steel Limited (formerly JSW Sambalpur Steel Limited)

9. Ordinary Resolution: Approval for material related party transactions between JSW Steel Global Trade Pte. Limited and JSW JFE Steel Limited

Voting Process and Methods

The voting was conducted through:

  • Remote e-voting: Available from Tuesday, July 21, 2026 (9:00 a.m. IST) to Thursday, July 23, 2026 (5:00 p.m. IST) via KFin Technologies Limited
  • Insta Poll (e-voting): Conducted during the AGM for members who did not vote remotely

The cut-off date for determining voting eligibility was Friday, July 17, 2026.

Key Voting Outcomes

Overall Participation

  • Total outstanding shares: 2,445,453,966
  • Total votes polled: 2,202,935,945 (90.0829% of outstanding shares)

Resolution-wise Results:

Resolution 1 (Adoption of Financial Statements)

  • Total votes in favor: 2,201,500,772 (99.9349% of votes polled)
  • Total votes against: 1,435,173 (0.0651% of votes polled)

Resolution 2 (Dividend Declaration)

  • Total votes in favor: 2,203,400,056 (99.9998% of votes polled)
  • Total votes against: 3,837 (0.0002% of votes polled)

Resolution 3 (Appointment of Sajjan Jindal)

  • Total votes in favor: 2,192,729,423 (99.5395% of votes polled)
  • Total votes against: 10,143,656 (0.4605% of votes polled)

Resolution 4 (Ratification of Cost Auditors' Remuneration)

  • Total votes in favor: 2,203,315,830 (99.9998% of votes polled)
  • Total votes against: 5,226 (0.0002% of votes polled)

Resolution 5 (Re-appointment of Fiona Jane Mary Paulus)

  • Total votes in favor: 2,196,772,975 (99.7028% of votes polled)
  • Total votes against: 6,547,839 (0.2972% of votes polled)

Resolution 6 (Appointment of Devopam Bajpai)

  • Total votes in favor: 2,202,521,085 (99.9637% of votes polled)
  • Total votes against: 799,738 (0.0363% of votes polled)

Resolution 7 (QIB Issue Consent)

  • Total votes in favor: 2,201,973,312 (99.9388% of votes polled)
  • Total votes against: 1,347,871 (0.0612% of votes polled)

Resolution 8 (RPT with JSW JFE Steel)

  • Total votes in favor: 767,884,932 (99.9974% of votes polled)
  • Total votes against: 19,731 (0.0026% of votes polled)

Resolution 9 (RPT between Subsidiary and JSW JFE Steel)

  • Total votes in favor: 767,884,935 (99.9974% of votes polled)
  • Total votes against: 19,732 (0.0026% of votes polled)

Category-wise Breakdown:

Promoter and Promoter Group (1,083,203,750 shares)

  • Voted 98.62% of their holding across resolutions
  • Unanimously supported all resolutions (100% in favor)

Public Institutions (551,147,507 shares)

  • Voted 93.56-93.64% of their holding across resolutions
  • High approval rates (99.72-100% in favor for most resolutions)

Public Non-Institutions (811,102,709 shares)

  • Voted 76.32-76.32% of their holding across resolutions
  • Near-unanimous support (99.99-100% in favor for most resolutions)

Scrutinizer's Role and Findings

Mr. Nilesh G. Shah, Company Secretary in Practice (Membership No. FCS 4554), was appointed as Scrutinizer by the Board on May 14, 2026. His responsibilities included:

  • Scrutinizing the remote e-voting and Insta Poll voting processes
  • Ensuring fair and transparent voting procedures
  • Ascertaining requisite majorities for all resolutions

The scrutinizer unblocked the e-voting results in the presence of two witnesses: Mr. Mahesh Darji and Mr. Darshan Suthar (not employed by the Company).

Compliance Confirmation

The document confirms compliance with:

  • Section 108 of the Companies Act, 2013
  • Rule 20 of the Companies (Management and Administration) Rules, 2014
  • SEBI Circulars regarding e-voting facilities
  • MCA General Circulars on conducting meetings through electronic means

All resolutions were passed with the requisite majority as required under applicable laws and regulations.