Meeting Details

The 32nd Annual General Meeting was held at 11:00 A.M. on Wednesday, September 30, 2026, through Video Conferencing (VC) / Other Audio-Visual Means (OAVM).

Attendance

Directors Present:

  • Mr. Mahendra G. Patel, Managing Director (Ahmedabad)
  • Mr. Hashmukh I. Patel, Whole Time Director (Ahmedabad)
  • Mr. Munjal M. Patel, Whole Time Director (Ahmedabad)
  • Mr. Ashish R. Patel, Whole Time Director (Ahmedabad)
  • Mr. Rainikant Patel, Non-Executive Director (Ahmedabad)
  • Mr. Saurin Parikh, Independent Director (Ahmedabad)
  • Ms. Seema Mehta, Independent Director (Ahmedabad)

Other Panelists Present:

  • Mr. Darshit A. Shah, Chief Financial Officer (Ahmedabad)
  • Mr. Samir Shah, Partner of Samir M. Shah & Associates, Chartered Accountants (Statutory Auditors) (Ahmedabad)
  • Mr. Ankit Sethi, Proprietor of M/s. Ankit Sethi & Associates, Company Secretaries (Secretarial Auditor) (Mumbai)
  • Mr. Umesh G. Parikh, Partner of Parikh Dave & Associates, Company Secretaries (Scrutinizer) (Ahmedabad)

Chairman of Meeting

Mr. Mahendra Patel, Managing Director, was unanimously elected as Chairman for the meeting as Mr. Kishor Shah, Chairman, was unable to attend due to personal reasons.

Quorum

80 members joined the meeting through Video Conference / Other Audio-Visual Means. Requisite quorum as required under the Companies Act, 2013 was present.

Business Updates

During the Managing Director's address to members, the following business updates were provided:

  • Launch of four new divisions in the domestic market
  • Growing exports performance
  • Expanded Khatraj Plant operations
  • Operational Mehsana Plant
  • New API facility at Khatraj
  • Sales contribution: 38% domestic market, 62% international markets
  • Wind and solar projects meet 100% of the Company's energy requirements

Voting Process

Remote e-Voting commenced on September 26, 2026 (09:00 a.m.) and ended on September 29, 2026 (5:00 p.m.). Members present at the AGM who had not cast votes through remote e-voting were eligible to vote through e-voting facility available during the AGM on the CDSL portal.

Mr. Umesh Parikh, Partner of Parikh Dave & Associates, Practicing Company Secretary, was appointed as Scrutinizer to supervise the voting process.

Voting Results

All five resolutions were passed with requisite majority. The detailed results are as follows:

Resolution No. 1: Adoption of audited financial statements

  • Total Votes: 1,11,91,005 (99.99% assent) | 1,062 (0.01% dissent) | 0 invalid
  • Status: Ordinary Resolution Passed

Resolution No. 2: Declaration of dividend of ₹1.80 per equity share

  • Total Votes: 1,12,01,900 (100.00% assent) | 45 (negligible dissent) | 0 invalid
  • Status: Ordinary Resolution Passed
  • Dividend: ₹1.80 per equity share on 2,00,29,728 fully paid equity shares of ₹10 each for financial year 2025-26

Resolution No. 3: Re-appointment of Mr. Hashmukh I. Patel (DIN: 00104834)

  • Total Votes: 1,06,94,272 (95.47% assent) | 5,07,673 (4.53% dissent) | 0 invalid
  • Status: Ordinary Resolution Passed

Resolution No. 4: Re-appointment of Mr. Munjal Mahendrabhai Patel (DIN: 02319308)

  • Total Votes: 1,06,95,289 (95.48% assent) | 5,06,656 (4.52% dissent) | 0 invalid
  • Status: Ordinary Resolution Passed

Resolution No. 5: Ratification of remuneration of Cost Auditors

  • Total Votes: 1,12,01,800 (100.00% assent) | 145 (negligible dissent) | 0 invalid
  • Status: Ordinary Resolution Passed
  • Cost Auditor: M/s. Kiran J. Mehta & Co., Cost Accountants (FRN: 000025)
  • Remuneration: ₹2,50,000 per annum plus GST and out-of-pocket expenses at actual for financial year ending March 31, 2027

Other Proceedings

  • Six members registered as speakers, with three asking queries during the meeting
  • Mr. Munjal Patel, Whole Time Director, addressed shareholder queries
  • Additional queries were to be responded to via email due to time constraints
  • Statutory registers and documents were available electronically for member inspection
  • The meeting concluded at 11:40 a.m.