AGM Details

The 7th Annual General Meeting will be held on Thursday, September 10, 2026 at 11:30 AM IST through Video Conferencing/Other Audio-Visual Means pursuant to MCA circulars. The meeting will be conducted without physical attendance of members.

Ordinary Business Items

1. To receive, consider and adopt the Audited Financial Statements of the Company for the Financial Year ended March 31, 2026, together with Reports of the Board of Directors and Auditors

2. To appoint a Director in place of Mr. Ajay Kumar Kanoi (DIN: 08381615) who retires by rotation under section 152(6) of Companies Act, 2013

Special Business Items

3. Ratification of Cost Auditor Remuneration

  • Resolution type: Ordinary Resolution
  • Purpose: Ratify remuneration payable to Cost Auditors for FY ending March 31, 2027
  • Appointee: M/s. Chittora & Co., Cost Accountants, New Delhi (ICWAI Registration No. 000290)
  • Remuneration: ₹70,000/- plus applicable taxes and reimbursement of out-of-pocket expenses
  • Appointment based on recommendation of Audit Committee and approved by Board on August 10, 2026

4. Increase in Overall Director Remuneration Limit

  • Resolution type: Special Resolution
  • Purpose: Increase overall limit of maximum remuneration payable to all Directors including Managing Director and Whole-time Director from 11% to 25% of net profits
  • Computation: As per Section 198 of Companies Act, 2013
  • Rationale: Substantial growth in business operations, expansion into additional business divisions, establishment of new manufacturing plant, and increased responsibilities
  • Affects previously approved remuneration of Mr. Pradeep Agarwal (Chairman & MD), Mr. Ajay Kumar Kanoi (Whole-time Director), Mr. Rushil Agarwal (Whole-time Director), and Mrs. Rajani Ajay Kanoi (Director) approved on July 28, 2025, August 25, 2025, and September 2, 2025

5. Revision in Remuneration of Mr. Pradeep Aggarwal (DIN: 00675952), Chairman & Managing Director

  • Resolution type: Special Resolution
  • Effective: April 1, 2026 for remaining tenure until July 22, 2028
  • Components:
  • Salary: ₹10 lakhs per month with annual increment not exceeding 30%
  • Performance Incentive: Up to 40% of fixed compensation as annual performance linked bonus
  • Commission: On net profits as fixed by Board within overall 25% limit
  • Perquisites: Rent free accommodation/HRA, utility reimbursements, medical expenses, travel expenses, LTA, PF, gratuity, leave encashment
  • Minimum remuneration payable in case of absence or inadequacy of profits subject to Schedule V provisions

6. Revision in Remuneration of Mr. Ajay Kumar Kanoi (DIN: 08381615), Whole-time Director

  • Resolution type: Special Resolution
  • Effective: April 1, 2026 for remaining tenure until July 22, 2028
  • Components:
  • Salary: ₹13 lakhs per month with annual increment not exceeding 30%
  • Performance Incentive: Up to 40% of fixed compensation as annual performance linked bonus
  • Commission: On net profits as fixed by Board within overall 25% limit
  • Perquisites: Same structure as Mr. Pradeep Aggarwal
  • Minimum remuneration payable in case of absence or inadequacy of profits

7. Revision in Remuneration of Mr. Rushil Agarwal (DIN: 08381616), Whole-time Director

  • Resolution type: Special Resolution
  • Effective: April 1, 2026 for remaining tenure until August 28, 2028
  • Components:
  • Salary: ₹6.5 lakhs per month with annual increment not exceeding 30%
  • Performance Incentive: Up to 40% of fixed compensation as annual performance linked bonus
  • Commission: On net profits as fixed by Board within overall 25% limit
  • Perquisites: Same structure as other directors
  • Minimum remuneration payable in case of absence or inadequacy of profits

8. Revision in Remuneration of Mrs. Rajani Ajay Kanoi (DIN: 06655849), Director

  • Resolution type: Special Resolution
  • Effective: April 1, 2026 payable for 3 consecutive financial years
  • Components:
  • Salary: ₹7 lakhs per month with annual increment not exceeding 30%
  • Performance Incentive: Up to 40% of fixed compensation as annual performance linked bonus
  • Commission: On net profits as fixed by Board within overall 25% limit
  • Perquisites: As per company rules available to senior executives
  • Minimum remuneration payable in case of absence or inadequacy of profits

Voting Information

  • Record Date: September 3, 2026
  • Remote e-voting period: September 7, 2026 (9:00 AM) to September 9, 2026 (5:00 PM)
  • E-voting during AGM: Available for members who haven't voted remotely
  • Scrutinizer: M/s. Ajai Kumar & Associates, Practicing Company Secretaries
  • Results to be placed on company website and stock exchange websites

Document Availability

  • Annual Report including Notice available on company website: www.msafegroup.com
  • Physical copies available on request to cs@msafegroup.com or RTA
  • Also available on BSE website (www.bseindia.com) and NSDL website (www.evoting.nsdl.com)

Registrar and Transfer Agent

M/s. Maashitla securities private limited

451, Krishna Apra Business Square, Netaji Subhash Place, Pitampura, Delhi-110034

Tel: +011-47581432