Mukand Limited 88th AGM Approves Dividend, Debentures

Meeting Details

• Date: Wednesday, August 12, 2026
• Time: 11:30 a.m. to 1:08 p.m. (including time allowed for e-voting)
• Location: Conducted through Video Conferencing (VC) / Other Audio-Visual Means (OAVM)
• Type of Meeting: 88th Annual General Meeting
• Compliance: The meeting was held in compliance with relevant circulars issued by the Ministry of Corporate Affairs (MCA) and Securities and Exchange Board of India (SEBI).

Attendance and Participation

• Chairperson: Shri Niraj Bajaj, Chairman & Managing Director, presided over the meeting.
• Quorum: The requisite quorum was present throughout the meeting.
• Member Attendance: 91 members attended the meeting through VC/OAVM.
• Directors Present: The Chairman confirmed the presence of all directors, specifically noting Shri Sankaran Radhakrishnan (Independent Director and Chairman of the Audit Committee) and Shri Prem Chandrani (Independent Director and Chairman of Nomination & Remuneration Committee and Stakeholders Relationship Committee).
• Other Attendees: Statutory Auditors, Secretarial Auditors, and the Scrutinizer appointed for the e-voting process were present through VC/OAVM.
• Facilities: The company provided two-way video conferencing accessible via the website of the Registrar, KFin Technologies Limited (KFin). All feasible efforts were made to ensure member participation.

Summary of Proposed Resolutions

The following items of business from the notice of the 88th AGM were presented for member consideration and approval:

Ordinary Business

1. Adoption of Financial Statements and Reports: Ordinary Resolution for adoption of Audited Standalone & Audited Consolidated Financial Statements for the year ended March 31, 2026, along with the Directors' Reports and Auditors' Reports thereon.

2. Preference Share Dividend: Ordinary Resolution for declaration of dividend on 8% Cumulative Redeemable Preference Shares at the rate of 8% on the paid-up value for FY ended March 31, 2026.

3. Equity Share Dividend: Ordinary Resolution for declaration of dividend on Equity Shares at the rate of ₹3 per share (which includes a special payout of ₹1 per share, i.e., 30%, in celebration of 100 years of the Bajaj Group) for FY ended March 31, 2026.

4. Re-appointment of Director: Ordinary Resolution for the appointment of Shri Nirav Bajaj, who retires by rotation under Section 152(6) of the Companies Act, 2013, and offers himself for re-appointment.

Special Business

5. Ratification of Cost Auditor's Remuneration: Ordinary Resolution.

6. Issue of Non-convertible Debentures: Special Resolution for approval to issue Redeemable Non-convertible Debentures on a private placement basis.

Voting Process

• Methods: The voting process utilized remote e-voting facilitated by KFin Technologies Limited.
• Post-Meeting Voting: Members who had not voted via remote e-voting prior to the meeting were provided an opportunity to cast their votes electronically after the AGM concluded. The e-voting window was kept open for an additional 30 minutes.
• Scrutinizer: A Scrutinizer was appointed to scrutinize the entire e-voting process.

Voting Outcomes and Reporting

• The results of the voting on all businesses, along with the consolidated Scrutinizer's Report, were to be declared and submitted to the Stock Exchanges (BSE and NSE) within 2 working days from the conclusion of the e-AGM.
• The results were also to be posted on the Company's website and the website of KFin Technologies Limited.
• The document confirms that the Statutory Auditors' Report and Secretarial Auditor's Report for FY ended March 31, 2026, contained no adverse remarks, qualifications, or disclaimers with an adverse effect on the company.

Shareholder Engagement

• Queries: 13 speaker shareholders raised queries, sought clarifications, and offered comments on the company's financial and operational performance.
• Responses: Necessary clarifications and responses were provided by Shri Neeraj Kant, Chief Executive Officer – Stainless Steel Division, and Shri Dhanesh K Goradia, Chief Financial Officer, to the satisfaction of the members.

Compliance and Documentation

• The company confirmed that all necessary documents and registers, as required by the Companies Act, 2013 and the Secretarial Standard on General Meetings, were available for electronic inspection by members.
• The proceedings were conducted in accordance with applicable laws and regulations.