Meeting Details

  • Date: Friday, August 21, 2026
  • Time: 10:30 a.m. IST
  • Location: Conducted through Video Conferencing/Other Audio-Visual Means (VC/OAVM) Facility via NSDL platform
  • Type: Annual General Meeting

Attendance

Total of 357 members attended the meeting through VC/OAVM, constituting requisite quorum. The following persons were present:

  • Shri Ashok Minda, Chairman & Group CEO (New Delhi)
  • Shri Aakash Minda, Executive Director (New Delhi)
  • Shri Gajanan V Gandhe, Independent Director & Chairman of Nomination & Remuneration Committee (Mumbai)
  • Shri Ravi Sud, Independent Director & Chairman of Risk Management Committee (Gurugram)
  • Smt. Pratima Ram, Independent Director & Chairperson of CSR Committee & Audit Committee (Bengaluru)
  • Shri R. Laxman, Independent Director (Mumbai)
  • Shri Naresh Kumar Modi, Executive Director (Pune)
  • Shri Ajay Agarwal, GCFO, President Finance & Strategy (Noida)
  • Mr. Pardeep Mann, Company Secretary & Compliance Officer (Noida)
  • Mr. Vikas Mehra, Partner of M/s S.R. Batliboi Co., LLP, Statutory Auditors (New Delhi)
  • Mr. Gaurav Gupta, Director of M/s S.R. Batliboi Co., LLP, Statutory Auditors (New Delhi)
  • Mr. Biswajit Ghosh, Representative of M/s BMP & Co. LLP, Company Secretaries, Scrutinizer & Secretarial Auditor (Bengaluru)

Proposed Resolutions and Implications

The Notice of the 41st AGM dated May 22, 2026, contained five resolutions for shareholder approval:

Ordinary Business

1. Consideration and adoption of Audited Financial Statements, Directors' and Auditor's Report for the financial year ended March 31, 2026 (Ordinary Resolution)

2. Confirmation of payment of Interim Dividend and declaration of Final Dividend on Equity Shares (Ordinary Resolution) - Final dividend of 40% (₹0.80 per equity share) recommended

3. Re-appointment of Mr. Ashok Minda (DIN: 00054727) as director liable to retire by rotation (Ordinary Resolution)

4. Re-appointment of M/s S.R. Batliboi & Co. LLP as Statutory Auditors from conclusion of 41st AGM until conclusion of 46th AGM and fixation of their remuneration (Ordinary Resolution)

Special Business

5. Ratification of remuneration of Chandra Wadhwa & Co. Cost Accountants as Cost Auditors of the Company (Ordinary Resolution)

Voting Process and Methods

  • Remote e-voting facility was made available to members from August 18, 2026, to August 20, 2026, in compliance with Section 108 of the Companies Act, 2013 and Regulation 44 of SEBI LODR Regulations, 2015
  • E-voting facility was also provided during the meeting
  • The e-voting window remained active until 15 minutes after the meeting conclusion (closed at 12:06 p.m.)
  • Mr. Biswajit Ghosh, Practicing Company Secretary, was appointed as scrutinizer to supervise both remote e-voting and e-voting during the meeting

Key Financial and Operational Highlights Presented

During the meeting, management presented the following key highlights:

  • Highest ever Revenue of ₹6,185 crores, representing 22.3% YoY growth
  • Highest ever EBITDA of ₹721 crores with margin of 11.7% (29 bps YoY growth)
  • Secured lifetime orders worth more than ₹10,000 crore during the fiscal
  • New strategic partnerships with Toyodenso & Turntide
  • 27 new patents filed, taking total patents filed to 330+
  • Net Debt stood at ₹156 crores with Net Debt/Net Worth of 0.1x and Net Debt/EBITDA of 0.3x
  • Credit Ratings: IND AA/Stable from India Ratings & Research for Term Loan; IND AA/Stable and IND A1+ from CRISIL for working capital limits

Scrutinizer's Role and Compliance

  • Mr. Biswajit Ghosh was appointed scrutinizer to supervise the voting process
  • The results of e-voting (both remote and during meeting) along with Scrutinizer's Report will be submitted to Stock Exchanges and placed on company website within prescribed timelines

Meeting Proceedings

  • The meeting commenced at 10:30 a.m. with introductory remarks by Company Secretary
  • Chairman Ashok Minda delivered his speech
  • Group CFO Ajay Agarwal presented company overview, key highlights, financials, JV partnerships, ESG, CSR, and awards
  • Members had opportunity to ask questions, which were addressed by Ashok Minda, Aakash Minda, and Ajay Agarwal
  • The meeting concluded with a vote of thanks at 11:51 a.m.