Nesco Limited has issued a notice for its 67th Annual General Meeting (AGM) to be held on Monday, 27 July 2026 at 3:30 p.m. (IST) through Video Conference (VC)/Other Audio-Visual Mode (OAVM). The deemed venue for the meeting is the Registered Office of the Company at Nesco Center, Western Express Highway, Goregaon (East), Mumbai – 400063.

Ordinary Business

1. Adoption of Financial Statements: To receive, consider, and adopt the audited standalone and consolidated financial statements of the Company for the financial year ended 31 March 2026, together with the reports of the Board of Directors and Auditors.

2. Declaration of Dividend: To declare a final dividend of ₹7.00 per equity share of face value of ₹2 each for the financial year ended 31 March 2026.

  • The record date for determining members eligible for the dividend is Monday, 20 July 2026.
  • The dividend, if approved, will be paid on or before Wednesday, 12 August 2026, subject to deduction of tax at source.

Special Business

3. Re-appointment of Mrs. Sudha S. Patel (DIN: 00187055): A special resolution is proposed to re-appoint Mrs. Sudha S. Patel as a Non-Executive, Non-Independent Director. She retires by rotation and, being eligible, seeks re-appointment and continuation in office despite having attained the age of 75 years, as per Regulation 17(1A) of the SEBI LODR Regulations.

  • She holds 90,08,388 equity shares (12.79% of paid-up capital).
  • She was paid sitting fees of ₹0.07 crores for FY 2025-26.
  • She is the mother of Mr. Krishna S. Patel (CMD) and part of the Promoter Group.

4. Appointment of Mr. Rajesh G. Upadhyay (DIN: 10963113) as Director: An ordinary resolution is proposed to appoint Mr. Rajesh G. Upadhyay as a Director of the Company, liable to retire by rotation. He was appointed as an Additional Director by the Board w.e.f. 1 June 2026.

5. Appointment of Mr. Rajesh G. Upadhyay as Whole-time Director: An ordinary resolution is proposed to appoint Mr. Rajesh G. Upadhyay as a Whole-time Director, designated as Executive Director (Commercial & Operations), for a period of 3 years from 1 June 2026 to 31 May 2029.

  • Remuneration: His monthly salary will be in the range of ₹2,50,000 to ₹3,62,500 (starting at ₹2,50,000 for FY27). This includes Basic Salary, House Rent Allowance (up to 50% of basic), Provident Fund contribution (12% of basic), Special Allowances, and a Performance Linked Variable Incentive.
  • Perquisites: Includes reimbursement of medical expenses, health insurance, club memberships (max 2), gratuity, and leave as per company policy.
  • The total remuneration shall not exceed 5% of net profits if he is the only whole-time director, or 10% if there are more.
  • He will not receive any sitting fees for Board/Committee meetings.
  • He holds no shares in the Company and is not related to any other Director/KMP.
  • He also serves as a Non-Executive Director on the board of the Company's WOS, Nesco Retail Private Limited, without remuneration.

6. Ratification of Cost Auditors' Remuneration: An ordinary resolution is proposed to ratify the remuneration of ₹50,000 plus applicable taxes and out-of-pocket expenses payable to M/s. Y.S. Thakar & Co. (Firm Regn. No. 000318) for conducting the cost audit for the financial year ending 31 March 2027. The audit scope is limited to the Indabrator division, which contributed 3.47% of the Company's standalone revenue as of 31 March 2026.

Voting and Meeting Logistics

  • The remote e-voting period begins on Thursday, 23 July 2026 at 9:00 a.m. (IST) and ends on Sunday, 26 July 2026 at 5:00 p.m. (IST).
  • The facility for appointment of proxies is not available for this virtual AGM.
  • The voting results will be declared within 2 working days of the AGM conclusion and posted on the company's website (www.nesco.in) and NSDL's website (www.evoting.nsdl.com).
  • The annual report for 2025-26 is being sent electronically and is available on the company's website and the websites of BSE (www.bseindia.com) and NSE (www.nseindia.com).