Marine Electricals 19th AGM Unanimous Voting Results

Meeting Details

The 19th Annual General Meeting was held on Wednesday, September 30, 2026 at 3:00 PM IST through Video Conferencing (VC). The meeting concluded at 3:35 PM. The cut-off date for determining shareholders eligible to vote was Wednesday, September 23, 2026.

Proposed Resolutions and Implications

The AGM considered seven resolutions:

Ordinary Business - Ordinary Resolutions:

1. To receive, consider and adopt the Audited Standalone and Consolidated Financial Statements for FY ended March 31, 2026 with Board of Directors and Auditors reports

2. To declare Final Dividend of ₹0.30 per equity share for Financial Year 2025-26

3. To appoint Mr. Venkatesh Uchil (DIN: 01282671) as Director who retires by rotation

Special Business - Special Resolution:

4. Appointment of Mr. Shanmugam Nagarajan as an Independent Director

Special Business - Ordinary Resolution:

5. To ratify the remuneration of the Cost Auditor for FY ending March 31, 2027

Special Business - Special Resolutions:

6. Approval for change in object of utilization of funds amounting to ₹149.22 crore raised via preferential allotment of shares

7. Approval for Direct listing of equity shares on the Main Board of BSE Limited

Voting Process and Methods

The e-voting facility was provided by National Securities Depository Limited (NSDL). Remote e-voting commenced on Saturday, September 26, 2026 at 9:00 AM and ended on Tuesday, September 29, 2026 at 5:00 PM. Electronic voting was also available during the AGM for members who had not voted remotely.

Key Voting Outcomes

Overall Participation:

Total votes cast: 98,492,240 shares
Percentage of outstanding shares voted: 70.38%
Number of shareholders who voted: 118
No invalid votes were recorded across all resolutions

Resolution-wise Results:

Resolution 1 (Adoption of Financial Statements):

Votes in favor: 98,492,240 (100%)
Votes against: 0 (0%)

Resolution 2 (Final Dividend):

Votes in favor: 98,492,240 (100%)
Votes against: 0 (0%)

Resolution 3 (Re-appointment of Director):

Votes in favor: 98,492,240 (100%)
Votes against: 0 (0%)

Resolution 4 (Independent Director Appointment):

Votes in favor: 98,492,240 (100%)
Votes against: 0 (0%)

Resolution 5 (Cost Auditor Remuneration):

Votes in favor: 98,492,240 (100%)
Votes against: 0 (0%)

Resolution 6 (Change in Fund Utilization):

Votes in favor: 98,492,225 (100%)
Votes against: 15 (0%)

Resolution 7 (BSE Direct Listing):

Votes in favor: 98,492,240 (100%)
Votes against: 0 (0%)

Category-wise Voting Breakdown:

Promoter and Promoter Group:

Shares held: 95,436,713
Votes polled: 95,436,713 (100% of shares held)
All votes were in favor across all resolutions

Public Institutions:

Shares held: 2,959,005
Votes polled: 843,081 (28.49% of shares held)
All votes were in favor across all resolutions

Public Non-Institutions:

Shares held: 41,548,692
Votes polled: 2,212,447 (5.32% of shares held)
Nearly all votes in favor with minimal opposition on two resolutions

Scrutinizer's Role and Findings

Mr. Jigarkumar Gandhi, Partner of JNG & CO. LLP, Company Secretaries, was appointed as Scrutinizer. His responsibilities included ensuring fair and transparent voting processes for both remote e-voting and e-voting during the AGM. The scrutinizer confirmed that all electronic data and relevant records of voting were properly handled and would remain in his custody until the Chairman approves and signs the minutes.

Compliance Confirmation

The document confirms compliance with the Companies Act, 2013, SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and relevant rules including Companies (Management and Administration) Rules, 2014.

Additional Information

The company's scrip code is 000000 with NSE Symbol: MARINE and ISIN: INE01JE01028. The company is not listed on MSEI. No shareholders attended the meeting through video conferencing, and no shareholders voted through electronic voting system during the AGM itself.