National Oxygen Limited held its 51st Annual General Meeting (AGM) on Friday, 28th August, 2026 at 11:30 AM through video conference and other audio-visual means. The meeting was conducted in compliance with Ministry of Corporate Affairs circulars and SEBI Circular number SEBI/HO/CFD/CMD1/CIR/P/2020/79, as well as provisions of the Companies Act, 2013.

Meeting Attendance

The meeting was attended by 53 members. Directors and key managerial personnel in attendance included:

  • Mr. Rajesh Kumar Saraf, Managing Director (DIN: 00007353)
  • Mr. Shanmugavadivel Siva, Independent Director and chairman of Audit Committee, Stakeholders Relationship Committee and Nomination and Remuneration Committee
  • Mr. Mona Milan Parekh, Independent Director
  • Mr. Amit Kumar Agarwal, Independent Director
  • Mrs. Sarita Saraf, Director
  • Mr. Ramalinga Srinivasan, Chief Financial Officer
  • Mr. Akhil Paliwal, Company Secretary

Other representatives included Secretarial Auditors from M/s. Lakshmmi Subramanian & Associates, Chennai; Statutory Auditors M/S. PSDY & Associateeighartered Accountants, Chennai; and Internal Auditor Mr. R. Bala Subramanian.

Meeting Proceedings

The meeting commenced at 11:30 AM and concluded at 11:48 AM, with an additional 15 minutes allowed for e-voting at the AGM. Mr. Rajesh Kumar Saraf chaired the meeting and provided a summary of the statutory auditors' report and secretarial audit report for the financial year 2025-26.

A shareholder identified a clerical error in the "Statement of Changes in Equity" on Page 63 of the Annual Report. The Chairman acknowledged this as a typographical error with no impact on financial figures, equity balances, or the Profit & Loss Statement, and provided corrected particulars.

Shareholder Queries

Three shareholders spoke at the meeting, raising queries about:

  • Proposed sale of the Company's land/assets
  • Bonus issue
  • Dividend

The Chairman responded that the sale of land/assets was under process and details would be intimated to stock exchanges once finalized. Regarding bonus issue and dividend, the Chairman explained that considering the Company's current financial position and losses, these matters would be considered at an appropriate time in the future.

Resolutions Passed

The following six resolutions were passed with requisite majority:

Ordinary Business:

1. Adoption of Audited Financial Statements along with Balance Sheet, Profit/Loss Account & Cash Flow Statement for the financial year ended March 31, 2026, together with Reports of the Board of Directors and Auditors

2. Re-appointment of Mr. Rajesh Kumar Saraf (DIN: 00007353) as director who retires by rotation

Special Business:

3. Adoption of new set of Memorandum of Association as per Companies Act, 2013

4. Adoption of new set of Articles of Association as per Companies Act, 2013

5. Approval for Sale/Transfer/Disposal of Certain Assets as a Whole in SIPCOT - Perundurai unit

6. Approval for Sale/Transfer/Disposal of Plant and Machinery (Liquid Unit) in Pondicherry unit

E-Voting Process

M/s. Lakshmmi Subramanian & Associates, PCS, were appointed as Scrutinizer to supervise the e-voting process. The e-voting results (remote e-voting and e-voting at AGM) are available on BSE Website and Company Website (www.nolgroup.com) within two working days from the meeting.