Ordinary Business Items:

1. Adoption of Financial Statements: To consider and adopt:

  • (a) Audited financial statement of the Company for FY ended March 31, 2026 and reports of Board of Directors and Auditors
  • (b) Audited consolidated financial statement for FY ended March 31, 2026 and report of Auditors

2. Final Dividend Declaration: To declare a final dividend of ₹2.20 per equity share (22% on face value of ₹10) for FY ended March 31, 2026, subject to deduction of tax at source under Section 123 of Companies Act, 2013.

  • Record date: July 28, 2026
  • Dividend payment: Within 30 days from AGM date through electronic modes
  • Tax implications: Dividend income taxable in hands of members w.e.f. April 1, 2020; TDS applicable at prescribed rates

3. Director Re-appointment: To appoint Sunaina Taparia (DIN: 07139610) as Non-Executive Director who retires by rotation and is eligible for re-appointment under Section 152 of Companies Act, 2013.

  • Current shareholding: 76,800 shares
  • Relationship: Wife of Sharad Taparia
  • Board meetings attended: 4
  • Remuneration: Entitled to sitting fees for Board/Committee meetings

Special Business Items:

4. Alteration of Memorandum of Association: Special resolution to alter Object Clause (III(1)) of MOA to expand business scope to include:

  • Manufacturing, processing, trading of permanent magnets, ores, metals, alloys, latching relays, NdFeB magnets, current sensors, laminations, motors and parts
  • Business of smelting, founding, melting, alloying, refining, powder metallurgy
  • Purpose: To facilitate diversification into profitable areas

5. Increase in Borrowing Limits: Special resolution to enhance borrowing limits under Section 180(1)(c) from previous ₹100 crores to ₹300 crores.

  • Supersedes special resolution passed on August 31, 2023
  • Includes borrowing with/without security for business purposes
  • Temporary loans from bankers in ordinary course excluded

6. Creation of Charge on Assets: Special resolution to increase limits for creating charge/mortgage/hypothecation on movable/immovable properties under Section 180(1)(a) to ₹300 crores.

  • Supersedes earlier resolution dated August 31, 2023
  • To secure borrowings/financial assistance from banks/financial institutions

7. Increase in Section 186 Limits: Special resolution to enhance limits for loans, investments, guarantees, and securities under Section 186 to ₹300 crores aggregate.

  • Current statutory limit: ₹156.37 crores (100% of free reserves + securities premium)
  • Purpose: To meet long-term business plans and funding requirements

8. Ratification of Cost Auditor Remuneration: Ordinary resolution to ratify remuneration of M/s Krishna S. & Associates, Cost Accountants (Firm Registration No. 100939) at ₹1,00,000 per annum plus applicable taxes and out-of-pocket expenses for FY 2026-27 cost audit.

Voting and Meeting Details:

  • Remote e-Voting period: August 1, 2026 (10:00 AM) to August 4, 2026 (5:00 PM)
  • Cut-off date: July 28, 2026
  • Register closure: July 29, 2026 to August 5, 2026 (both days inclusive)
  • Scrutinizer: CS Arun Dash of M/s. Arun Dash & Associates
  • Results declaration: Within 48 hours of AGM conclusion on company website and to BSE
  • VC/OAVM attendance: Limited to 1000 members on first-come basis (exceptions for large shareholders, promoters, institutional investors, directors, KMPs)

Dividend Tax Compliance:

  • Members must update PAN details with company/RTA/depositories
  • Higher TDS rate of 20% applicable if PAN not registered
  • Form 15G/15H declarations for resident individuals due by July 22, 2026, 5:00 PM IST
  • Non-resident shareholders must submit treaty benefit documents by July 22, 2026

Document References:

  • Filed pursuant to SEBI Listing Regulations Regulation 30
  • MCA Circulars: 14/2020, 17/2020, 20/2020, 02/2021, 10/2022, 11/2022, 09/2023, 09/2024, 03/2025
  • SEBI Circulars: Multiple references including SEBI/HO/CFD/CMD1/CIR/P/2020/79, SEBI/HO/CFD/CMD2/CIR/P/2021/11, SEBI/HO/CFD/CMD2/CIR/P/2022/62, SEBI/HO/CFD/PoD-2/P/CIR/2023/4, SEBI/HO/CFD/CFD-PoD-2/P/CIR/2023/167

Company Contacts:

  • Company Secretary: Rachana Sawant
  • Corporate Office: Plot No. B-3, MIDC Industrial Area, Village Mira, Mira Road - 401107, Dist. Thane
  • RTA: M/s. Adroit Corporate Services Private Limited