Nelcast Limited has issued notice for its 44th Annual General Meeting (AGM) to be held on Monday, 27th July 2026 at 3:30 PM through Video Conference (VC) / Other Audio Visual Means (OAVM).
Ordinary Business:
1. To receive, consider and adopt the standalone and consolidated audited financial statements of the Company for the financial year ended 31st March 2026, together with the Reports of the Board of Directors and Auditors thereon.
2. To declare a dividend for the financial year. The Board has recommended a dividend of ₹1.50 (One Rupee and Fifty Paise only) per share for the year ended 31st March 2026.
3. To take note that Mr. D. Sesha Reddy (DIN: 02335169), Director liable to retire by rotation, does not seek re-appointment.
4. To appoint a Director in the place of Mr. A. Balasubramanian (DIN: 00490921), who retires by rotation and being eligible offers himself for re-appointment. This requires a Special Resolution as he has attained the age of 77 years.
Special Business:
5. Re-appointment of Mr. R. Sridharan (DIN: 00868787) as Non-Executive Independent Director of the Company for a second term of five consecutive years, effective from 23rd May 2027 to 22nd May 2032. This requires a Special Resolution as he has attained the age of 75 years.
6. To consider the ratification of the remuneration payable to the Cost Auditors for the financial year ending 31st March 2027. The remuneration approved is ₹225,000 (Two Lakh Twenty Five Thousand Only) plus applicable taxes, apart from reimbursement of out-of-pocket expenses, if any, to M/s. Jayaram & Associates, Cost Auditors.
Dividend Details:
- Dividend amount: ₹1.50 per share
- Record Date: 20th July 2026
- Payment will be made within 30 days from the date of AGM
- Dividend will be paid through electronic mode to members who have updated their bank details
- Dividend warrants/demand drafts will be dispatched to registered addresses for those without updated bank details
Tax Deduction at Source on Dividend:
- TDS will be deducted at prescribed rates for dividend payments
- No TDS will be deducted if aggregate dividend during the financial year does not exceed ₹5,000
- No TDS for resident individuals including senior citizens who have submitted Form 15G/15H
- Non-resident shareholders will have TDS deducted at applicable rates or beneficial rates under DTAA if proper documentation is provided
- Deadline for submitting Form 15G/15H and other tax documents: 30th June 2026
Voting Arrangements:
- Remote e-voting period: 23rd July 2026 (9:00 AM IST) to 26th July 2026 (5:00 PM IST)
- The Company has appointed NSDL as the authorized agency for e-voting facilities
- Mr. P. R. Lakshmi Narayanan, Practising Company Secretary, Chennai has been appointed as the Scrutinizer
- Members can join the AGM through VC/OAVM using the NSDL e-Voting system
Director Changes:
- Mr. D. Sesha Reddy (DIN: 02335169) will retire at the conclusion of the AGM and does not seek re-appointment
- Mr. A. Balasubramanian (77 years) and Mr. R. Sridharan (75 years) are proposed for re-appointment requiring Special Resolutions due to their age
Document Availability:
- The notice and annual report are available on the company website: https://nelcast.com/investors/annualreports
- Documents are also available on stock exchange websites (BSE and NSE) and NSDL website (www.evoting.nsdl.com)
- No physical copies will be sent to shareholders
Additional Information:
- Register of Members and Share Transfer Books will be closed from 21st July 2026 to 27th July 2026 (both days inclusive)
- Members are requested to convert physical holdings to demat mode as transfer of shares in physical form is prohibited
- The explanatory statement pursuant to Section 102 of the Companies Act, 2013 provides detailed information about the special business items