Meeting Details

  • Type of Meeting: 49th Annual General Meeting
  • Date: Friday, 19th June, 2026
  • Time of Commencement: 12:00 Noon
  • Time of Conclusion: 12:27 P.M.
  • Mode/Venue: Video Conferencing / Other Audio Video Means
  • Total Members Attended: 94 members

Proposed Resolutions and Implications

The AGM considered and voted on 22 resolutions through remote e-voting:

Ordinary Resolutions:

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

2. Declaration of dividend for Financial Year ended 31st March, 2026

3. Appointment of Mr. Balasubramanian Prabhakaran (DIN: 01428366) as Managing Director liable to retire by rotation

4. Appointment of Mr. Venkateswaran Soundrarajan (DIN: 08035383) as Executive Director liable to retire by rotation

5. Ratification of remuneration payable to M/s. Singh M K & Associates, Cost Auditors

13-20, 22. Approval of material related party transactions with various entities including Thriveni Earthmovers, Lloyds Infrastructure, Mandovi River Pellets, and others

Special Resolutions:

6. Alteration of articles of association by deleting Common Seal Clause

7. Reappointment of Mr. Ramesh Luharuka (DIN: 00001380) as Non-executive Independent Director

8. Reappointment of Dr. Seema Saini (DIN: 09539941) as Non-executive Independent Director

9. Overall borrowing limits under Section 180(1)(c) of Companies Act, 2013

10. Creation of mortgage or charge on assets under Section 180(1)(a) of Companies Act, 2013

11. Giving loans, guarantees, and acquiring securities under Section 186 of Companies Act, 2013

12. Remuneration payable to Mr. Shabbirhusein Shaikhadam Khandwawala (DIN: 10821717), Non-executive Director

21. Approval of material related party transaction with Sunflag Iron and Steel Co Limited

Voting Process and Methods

The Company provided two voting methods:

1. Remote e-voting: Available from Monday, 15th June, 2026 (9:00 A.M. IST) to Thursday, 18th June, 2026 (5:00 P.M. IST)

2. E-voting during AGM: Facility provided during the meeting and 15 minutes after conclusion for shareholders attending through VC/OAVM who had not voted earlier

M/s. Mitesh Shah & Co., Company Secretaries were appointed as Scrutinizer to report on voting results.

Key Financial and Operational Highlights Presented

The Chairman highlighted several key achievements:

  • FY 2025-26 revenue reached ₹13,837.8 crore, crossing ₹10,000 crore milestone for the first time with over 100% growth compared to previous year
  • Total income of ₹17,306.4 crore with EBITDA of ₹6,333.9 crore and EBITDA margin of 36.60%
  • Board recommended 100% dividend per share
  • Iron ore production of 21.96 million tonnes and pellet production of 3.03 million tonnes
  • Expansion in steel manufacturing with development of 1.2 million tonne long products plant at Ghugus
  • Strategic diversification into copper through Surya Mines operations and acquisition of stake in Chemaf Group in Democratic Republic of the Congo
  • Consolidation of Thriveni Earthmovers & Infra Private Limited which reported consolidated revenue of ₹7,996.9 crore and EBITDA of ₹2,053.6 crore

Compliance and Regulatory Aspects

The meeting was conducted in compliance with circulars issued by the Ministry of Corporate Affairs and Securities and Exchange Board of India. The requirement of appointing proxies was not applicable for this VC/OAVM meeting.

Signatories and Roles

  • Akshay Vora: Company Secretary & Compliance Officer who conducted the meeting proceedings
  • Representatives present: Todarwal & Todarwal LLP (Chartered Accountants, Statutory Auditors), Mitesh Shah & Co. (Company Secretaries, Secretarial Auditors and Scrutinizers)

Additional Information

The results of the remote e-voting and e-voting at the AGM will be declared separately on the Company's website, Stock Exchanges, and National Securities Depository Limited. Two members spoke/raised queries during the meeting, with clarifications provided by the Chairman.