Meeting Details
- Date: Friday, August 14, 2026
- Time: Commenced at 10:00 a.m. (IST) and concluded at 10:40 a.m. (IST)
- Location: Conducted through Video Conferencing (VC)/Other Audio-Visual Means (OAVM)
- Type: Annual General Meeting
Attendance
Directors Present through Video Conference:
- Mr. D. Ashok (Non-Executive Chairman)
- Mr. P. Trivikrama Prasad (Non-Executive Director)
- Mr. Ashwin Devineni (Managing Director & CEO)
- Mr. GRK Prasad (Executive Director)
- Mr. Nikhil Devineni (Executive Director)
- Mr. Kode Durga Prasad (Independent Director and Chairman of Audit, Nomination & Remuneration Committees and Stakeholder Relationship Committee)
- Mr. GP Kundargi (Independent Director)
- Mr. A. Indra Kumar (Independent Director)
- Mrs. B. Shanti Sree (Independent Director)
- Mr. Mwelwa Chibesakunda (Independent Director)
In Attendance:
- Mr. VSN Raju (Company Secretary & Vice President)
Invitees Present through Video Conference:
- Statutory Auditors
- Representative on behalf of M/s. PS Rao & Associates, Secretarial Auditors
- Scrutinizer for remote e-voting and e-voting during AGM
Shareholder Participation: 99 shareholders participated through VC/OAVM.
Proceedings Summary
The Company Secretary confirmed requisite quorum was present and noted that statutory registers were made available electronically for inspection. Mr. D. Ashok, Chairman, gave opening remarks. Mr. Ashwin Devineni, MD & CEO, presented on the operational and financial performance of the Company during FY 2025-26. The Notice of AGM was taken as read, and it was confirmed that reports of Statutory Auditors and Secretarial Auditors contained no qualifications.
Voting Process
- National Securities Depository Limited (NSDL) provided remote e-voting facility.
- Remote e-voting period: August 10, 2026 (9:00 a.m. IST) to August 13, 2026 (5:00 p.m. IST).
- Members could also vote during the AGM and up to 15 minutes after its conclusion.
- Mrs. D. Renuka, Practicing Company Secretary, was appointed as Scrutinizer.
Resolutions Passed
All nine resolutions set out in the Notice dated May 15, 2026 were passed with requisite majority:
1. Ordinary Resolution: Adoption and approval of audited financial statements (standalone and consolidated) for FY ended March 31, 2026, along with reports of Board of Directors and Auditors.
2. Ordinary Resolution: Declaration of final dividend on equity shares for FY 2025-26.
3. Ordinary Resolution: Re-appointment of Mr. P. Trivikrama Prasad (DIN: 00006887) as Director retiring by rotation.
4. Ordinary Resolution: Re-appointment of Mr. Nikhil Devineni (DIN: 08695842) as Director retiring by rotation.
5. Ordinary Resolution: Ratification of remuneration payable to Cost Auditors for FY 2026-27.
6. Special Resolution: Approval for continuation of directorship of Mr. P. Trivikrama Prasad (DIN: 00006887) as Non-Executive Non-Independent Director.
7. Special Resolution: Re-appointment and remuneration payable to Mr. GRK Prasad (DIN: 00006852) as Executive Director.
8. Special Resolution: Re-appointment of Mr. Mwelwa Chibesakunda (DIN: 10805023) as Independent Director.
9. Special Resolution: Amendment of Object Clause in the Memorandum of Association.
Shareholder Engagement
Registered speakers were invited to seek clarifications on resolutions. Members appreciated the Company's FY2025-26 performance and sought few clarifications, which were addressed by the MD & CEO and other directors.
Voting Results and Compliance
The Chairman authorized the Company Secretary to declare voting results. The voting results along with Scrutinizer's report will be submitted to NSE and BSE within statutory timelines and made available on the company website.
Additional Information
- The proceedings are available on the company website: https://www.navalimited.com/investors/stock-exchange-disclosures/disclosures/
- The meeting was conducted in accordance with circulars issued by MCA and SEBI.
- No physical attendance was permitted, making proxy appointments not applicable.