Meeting Details

  • Meeting Type: 53rd Annual General Meeting
  • Date: Saturday, 12th September, 2026
  • Time: 11:00 AM
  • Location: Conducted through Video Conferencing (VC)/Other Audio Visual Means (OAVM) facility in compliance with MCA and SEBI circulars
  • Script Code: MMP

Proposed Resolutions and Implications

Ordinary Business

1. Adoption of Financial Statements: To receive, consider, and adopt the Audited Financial Statements (Standalone & Consolidated) for the year ended 31st March, 2026, along with Statutory Auditors' Report and Board's Report.

2. Dividend Declaration: To declare a final dividend of ₹2 per equity share for the year ended 31st March, 2026.

3. Director Re-appointment: To appoint Mr. Mayank Bhandari (DIN: 01176865), a Non-Executive Director who retires by rotation, and being eligible, offers himself for re-appointment.

Special Business

4. Ratification of Cost Auditor Remuneration: To ratify payment of ₹80,000 plus applicable GST to M/s Deepak Khanuja & Associates (Firm Registration No. 100247) for cost audit services for FY 2026-27.

5. Continuation of Managing Director: Special Resolution for continuation of Mr. Arun Bhandari (DIN: 00008901) as Managing Director beyond age 70 for his existing tenure up to 31st January, 2028 on existing terms.

6. Reappointment of Whole-time Director: Special Resolution for:

  • Continuation of Mr. Lalit Bhandari (DIN: 00010934) as Whole-time Director beyond age 70 until 31st March, 2027
  • Reappointment for further 5 years from 1st April, 2027 to 31st March, 2032 with monthly remuneration of ₹302,583 (Basic: ₹108,250, HRA: ₹68,125, Medical & Other: ₹52,375, Special Allowance: ₹73,833) plus LTC ₹30,000 p.a. and PF/Gratuity/Bonus as per company rules

7. Appointment of Secretarial Auditor: Ordinary Resolution to ratify and approve appointment of M/s Vaibhav Jachak & Associates as Secretarial Auditors for 5 years from FY 2025-26 to FY 2029-30.

8. Appointment of Independent Director: Special Resolution to appoint Mr. Raj Sethia (DIN: 03203265) as Independent Director for 5 years from 10th August, 2026 to 9th August, 2031.

9. Appointment of Independent Director: Special Resolution to appoint Dr. Sanjay Arora (DIN: 08518801) as Independent Director for 5 years from 10th August, 2026 to 9th August, 2031.

Voting Process and Methods

  • Remote E-voting Period: Wednesday, 9th September, 2026 at 9:00 AM to Friday, 11th September, 2026 at 5:00 PM
  • E-voting Cut-off Date: Saturday, 5th September, 2026
  • Service Provider: Bigshare Services through https://ivote.bigshareonline.com
  • Voting Methods:
  • Demat account holders can vote through NSDL/CDSL platforms using single login credentials
  • Physical shareholders use Folio Number as User ID
  • Institutional shareholders require board resolutions authorizing representatives
  • Meeting Attendance: Members can join VC/OAVM 15 minutes before meeting time using e-voting credentials

Key Dates and Administrative Details

  • Book Closure Period: Monday, 7th September, 2026 to Saturday, 12th September, 2026 (both inclusive)
  • Record Date for Dividend: Saturday, 5th September, 2026
  • Dividend Payment: Within 30 days from AGM date if approved
  • Taxation: Dividend income taxable with TDS applicable; shareholders must submit Form 15G/15H by 5th September, 2026, 11:59 PM IST

Compliance and Regulatory References

  • Conducted in compliance with MCA General Circular No. 03/2025 dated 22nd September, 2025
  • SEBI Circular No. SEBI/HO/CFD/CMD/CIR/P/2020/242 dated 9th December, 2020 followed for e-voting process
  • Companies Act, 2013 provisions followed for all resolutions
  • Physical attendance not required; proxy facility not available

Signatories and Company Information

  • Contact: Tel +91 712 2533 585, Email companysecretary@mmpil.com

Director Profiles and Shareholding

  • Mr. Mayank Bhandari: Holds 2.23% (565,438 shares), age 42, appointed 2021
  • Mr. Arun Bhandari: Holds 27.40% (6,959,461 shares), age 70, Managing Director since 1981
  • Mr. Lalit Bhandari: No shareholding, age 70, Whole-time Director since 2008
  • Mr. Raj Sethia: New appointee, no shareholding, experienced in corporate finance and venture capital
  • Dr. Sanjay Arora: New appointee, no shareholding, marketing strategist and entrepreneur

Additional Notes

  • Quorum will be counted based on VC/OAVM attendance under Section 103 of Companies Act, 2013
  • Members can submit queries until 6th September, 2026 via email
  • Bank mandate details for dividend payment must be updated with Depository Participants for demat holders
  • The notice and annual report are being sent electronically to registered email addresses