Meeting Details

  • Date of Meeting: Saturday, August 22, 2026
  • Time of Meeting: Commenced at 11:40 A.M. (IST) and concluded at 12:26 P.M. (IST)
  • Type of Meeting: 10th Annual General Meeting (AGM)
  • Location/Platform: Conducted through Video Conferencing (VC) via the Microsoft Teams Platform.

Attendees

Directors and Key Managerial Personnel Present via VC:

  • Mr. Gaurang Rameshchandra Shah, Chairman cum Managing Director
  • Mrs. Dhruti Mihir Shah, Whole Time Director & Chief Financial Officer
  • Mrs. Bhavini Gaurang Shah, Non-Executive Director
  • Mr. Akshay Jayrajbhai Shah, Non-Executive Independent Director
  • Mr. Harsh Mukeshbhai Parikh, Non-Executive Independent Director
  • Mr. Viral Mukeshbhai Mamtora, Non-Executive Independent Director
  • Mr. Bhavesh Nagar, Company Secretary & Compliance Officer

Other Dignitaries Present:

Authorised Representatives of the Internal Auditor (M/s. Ravi Shah & Co.), Statutory Auditor (M/s. Manubhai & Shah LLP), Secretarial Auditor (M/s. Mittal V Kothari & Associates), and Scrutinizer (M/s. SCS & Co. LLP) were also present.

Summary of Proceedings and Resolutions

The meeting was chaired by Mr. Gaurang Rameshchandra Shah and conducted by Mr. Bhavesh Nagar, Company Secretary.

The following 12 resolutions, as set out in the notice dated July 30, 2026, were proposed for shareholder approval:

| Item No. | Business Description | Type of Resolution |

| 1 | To receive, consider and adopt the Audited Standalone Financial Statements for FY ended March 31, 2026 and the Reports of the Board of Directors and the Statutory Auditors. | Ordinary |

| 2 | To receive, consider and adopt the Audited Consolidated Financial Statements for FY ended March 31, 2026 and the Report of the Statutory Auditors. | Ordinary |

| 3 | To appoint a director in place of Mrs. Dhruti Mihir Shah (DIN: 07664924), who retires by rotation and is eligible for re-appointment. | Ordinary |

| 4 | To appoint M/s. Talati & Talati LLP, Chartered Accountants, as Statutory Auditors and to fix their remuneration. | Ordinary |

| 5 | To ratify the appointment of M/s. Mittal V. Kothari & Associates, Practicing Company Secretaries, as Secretarial Auditor. | Ordinary |

| 6 | Approval for giving loans or guarantees or providing security under Section 185 of the Companies Act, 2013. | Special |

| 7 | To make investments, give loans, guarantees and security in excess of limits specified under Section 186 of the Companies Act, 2013. | Special |

| 8 | To give authority to the Board to borrow money in excess of paid-up share capital and free reserves under Section 180(1)(c). | Special |

| 9 | Creation of charges, mortgages, hypothecation on properties under Section 180(1)(a). | Special |

| 10 | Approval of material related party transactions with subsidiary company 'Kotyark Bio Specialities Limited'. | Ordinary |

| 11 | Approval of remuneration of related party, Mr. Brijkumar Gaurang Shah, holding office or place of profit. | Ordinary |

Management Presentations and Key Announcements

Chairman's Address (Mr. Gaurang Rameshchandra Shah):

  • Stated FY 2025-26 was a year of expanding production capacity and strengthening business.
  • Noted performance was achieved with relatively low capacity utilisation, indicating headroom for growth.
  • Highlighted significant opportunity in the biodiesel sector supported by India's energy transition, the National Policy on Biofuels, and OMC procurement.
  • Emphasized the business model based on waste/non-edible feedstock and a Zero Effluent Discharge model, which earned 57,874 Carbon Credits.
  • Informed about focus on by-products, particularly Glycerine, through a dedicated processing unit.
  • Cited key technical achievements: B20/B30 blend testing with ARAI, ISO 9001:2015 certification, and receipt of Letters of Intent (LOIs) aggregating approx. ₹223.53 crore.
  • Outlined FY27 priorities: increasing capacity utilisation to 60-70% and broadening customer base.
  • Disclosed a recent OMC order of approx. ₹173.45 crore received for FY 2026-27.

Non-Executive Director's Address (Mrs. Bhavini Gaurang Shah):

  • Announced migration of equity shares from SME platform to Main Board of NSE and BSE effective March 12, 2026.
  • Informed that Mr. Gaurang Shah received a Certificate of Excellence from the World Book of Records, London.
  • Confirmed approval for registration and issuance of 57,874 Carbon Credits under the Verra standard.
  • Stated CSR expenditure for FY 2025-26 was ₹46.55 lakhs.

CFO's Address (Mrs. Dhruti Mihir Shah):

  • Informed that the company adopted Indian Accounting Standards (Ind AS) for FY 2025-26 with a transition date of April 1, 2024, following the mainboard migration.
  • Confirmed consolidated financial statements incorporate subsidiaries: Kotyark Agro Private Limited, Semani Industries Limited, Kotyark Bio Specialities Limited, Parth Renewable Energy LLP, and Asia Bio Fuels LLP.
  • Reiterated commitment to strengthening governance and transparency.
  • Noted the Board had recommended a Final Dividend for FY 2025-26, subject to member approval.

Company Secretary's Address (Mr. Bhavesh Nagar):

  • Informed members that the Statutory Auditor's Report contained no qualifications or adverse remarks.
  • Read out the observations/qualifications from the Secretarial Auditor (M/s. Mittal V Kothari & Associates) for FY 2025-26 along with management's responses, as required.

Voting Process

  • Method: Remote e-voting facility was provided by National Securities Depository Limited (NSDL).
  • E-voting Period: The facility was available from Wednesday, August 19, 2026, at 9:00 A.M. to Friday, August 21, 2026, at 5:00 P.M.
  • Voting at Meeting: Members present at the meeting who had not voted remotely were able to vote via an e-voting icon during the meeting. The e-voting window remained open for 15 minutes after the meeting concluded at 12:26 P.M.
  • Scrutinizer: M/s. SCS And CO. LLP was appointed to scrutinize all votes cast (remote and during the meeting).
  • Result Declaration: The results were to be declared after receiving the Scrutinizer's report, within 2 working days after the meeting, and published on the company's website and to the stock exchanges.

Shareholder Interaction

A question-and-answer session was held where 4 (four) speaker members posed questions virtually. Chairman Mr. Gaurang Rameshchandra Shah responded to all questions.

Compliance Confirmation

The meeting was conducted in accordance with the relevant circulars issued by the Ministry of Corporate Affairs (MCA) and the Securities and Exchange Board of India (SEBI). The facility for appointment of proxies was not applicable as the AGM was held via VC.