Meeting Details

The 10th Annual General Meeting (AGM) of Kotyark Industries Limited was held on Saturday, August 22, 2026 at 11:40 A.M. through two-way video conferencing via Microsoft Teams Platform. The meeting concluded at 12:26 P.M. The meeting was conducted in accordance with relevant Circulars issued by the Ministry of Corporate Affairs (MCA) and the Securities and Exchange Board of India (SEBI).

Attendance

Directors and Key Managerial Personnel Present:

  • 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 Attendees:

  • Authorised Representatives of Internal Auditor: M/s. Ravi Shah & Co.
  • Statutory Auditor: M/s. Manubhai & Shah LLP
  • Secretarial Auditor: M/s. Mittal V Kothari & Associates
  • Scrutinizer: M/s. SCS & Co. LLP

Shareholder Information

  • The AGM was held through video conferencing, making the facility for appointment of proxies not applicable
  • All members joining were placed on mute mode to ensure orderly conduct
  • All documents referred to in the Notice along with Statutory Registers are available for electronic inspection at info@kotyark.com
  • M/s. SCS And CO. LLP was appointed as Scrutinizer to scrutinize votes cast during the meeting and through remote e-voting platform of NSDL
  • Results to be declared within 2 working days after receiving Scrutinizer report
  • Notice dated July 30, 2026 and Annual Report for FY 2025-26 were circulated electronically to members

Management Updates

Mr. Gaurang Rameshchandra Shah, Chairman cum Managing Director:

  • FY 2025-26 was a year of expansion and preparation for next phase of growth
  • Performance achieved while capacity utilization remained relatively low, indicating headroom for growth
  • Significant opportunity in biodiesel sector supported by India's energy transition, National Policy on Biofuels, and OMC procurement initiatives
  • Business model based on waste and non-edible feedstock (used cooking oil, acid oils, non-edible vegetable oils)
  • Zero Effluent Discharge model earned 57,874 Carbon Credits
  • Focus on by-products, particularly Glycerine, through dedicated Glycerine Processing Unit at Sirohi
  • Technical achievements: Testing and durability trials of B20 and B30 biodiesel blends through Automotive Research Association of India (ARAI)
  • Received ISO 9001:2015 certification for quality management system covering manufacture and supply of Bio Diesel and Crude Glycerine
  • Received Letters of Intent (LOIs) aggregating approximately ₹223.53 crore during the year
  • FY 2026-27 priorities: Increase capacity utilization to 60-70% over next 2-3 years, broaden customer base across OMC, industrial, and bulk channels
  • Recently received OMC order of approximately ₹173.45 crore in FY 2026-27

Mrs. Bhavini Gaurang Shah, Non-Executive Director:

  • Significant milestone: Migration of equity shares from SME platform to Main Board of NSE and BSE effective March 12, 2026
  • Mr. Gaurang Rameshchandra Shah received Certificate of Excellence from World Book of Records, London on June 26, 2026 at House of Commons, UK Parliament
  • Company received approval for registration and issuance of 57,874 Carbon Credits for period from September 15, 2020 to March 31, 2022 under Verra standard
  • Incurred ₹46.55 lakhs towards CSR activities during FY 2025-26

Mrs. Dhruti Mihir Shah, Whole-time Director and Chief Financial Officer:

  • Adopted Indian Accounting Standards (Ind AS) for FY 2025-26 with April 1, 2024 as date of transition
  • Audited Standalone and Consolidated Financial Statements prepared in accordance with Ind AS
  • 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
  • Commitment to strengthening systems, governance practices, transparency and institutional capabilities
  • Board recommended Final Dividend for FY 2025-26, subject to member approval

Auditor Reports

  • Statutory Auditor's Report does not contain qualifications, reservation or adverse remarks on financial statements
  • Secretarial Auditor reported some annotations which were read at the AGM along with management's responses

Resolutions Voted On

Twelve resolutions were presented for voting:

Ordinary Resolutions:

1. Adoption of Audited Standalone Financial Statements for FY ended March 31, 2026

2. Adoption of Audited Consolidated Financial Statements for FY ended March 31, 2026

3. Re-appointment of Mrs. Dhruti Mihir Shah as Whole-time Director

4. Appointment of M/s. Talati & Talati LLP as Statutory Auditors and fixing their remuneration

5. Ratification of M/s. Mittal V. Kothari & Associates as Secretarial Auditor

6. Approval of material related party transactions with subsidiary company "Kotyark Bio Specialities Limited"

7. Approval of remuneration of related party Mr. Brijkumar Gaurang Shah

Special Resolutions:

8. Giving loans or guarantees or providing security under Section 185 of Companies Act, 2013

9. Making investments, giving loans, guarantees and security in excess of limits under Section 186

10. Authority to Board to borrow money in excess of paid-up share capital and free reserves under Section 180(1)(c)

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

Voting Process

  • Remote e-voting facility available from Wednesday, August 19, 2026, 9.00 A.M. to Friday, August 21, 2026, 5.00 P.M.
  • Members could also vote during the meeting through e-voting facility
  • E-voting window remained available for 15 minutes after closure of meeting
  • Four speaker members posed questions virtually during the meeting