Meeting Details

The 28th Annual General Meeting was held on Monday, 28th September 2026 at 3:00 p.m. (IST) through Video Conferencing facility/Other Audio Visual Means (VC/OAVM). The meeting was convened to transact the business mentioned in the Notice dated 31st August 2026.

Proposed Resolutions and Implications

Six resolutions were proposed for shareholder approval:

1. Ordinary Resolution: To receive, consider and adopt (a) the Audited Standalone Financial Statements for FY 2025-26 with Board and Auditor reports, and (b) the Audited Consolidated Financial Statements for FY 2025-26 with Auditor report

2. Ordinary Resolution: To declare final dividend on equity shares for financial year 2025-26

3. Ordinary Resolution: To appoint Shri Arun Kumar Singh (DIN: 06646894) as Director in place of retiring director (Nominee Director - ONGC)

4. Ordinary Resolution: To appoint Shri Arvinder Singh Sahney (DIN: 10652030) as Director in place of retiring director (Nominee Director - IOCL)

5. Ordinary Resolution: To approve material Related Party Transactions entered or to be entered with Promoters

6. Special Resolution: To approve payment of commission on profits to Directors for financial years 2026-27 to 2030-31

Voting Process and Methods

The voting was conducted through:

  • Remote e-voting via NSDL from Thursday, 24th September 2026 (9:00 a.m. IST) to Sunday, 27th September 2026 (5:00 p.m. IST)
  • E-voting during the AGM on 28th September 2026
  • No physical meeting or proxy arrangement was made as the meeting was held through VC/OAVM

Key Voting Outcomes

Overall Participation

  • Total shareholders on record date: 433,401
  • Shareholders attended through Video Conferencing: 120 (Promoters) + 124 (Public) = 244 shareholders
  • Total votes cast: 1,275,789,289 shares (85.05% of outstanding shares)

Resolution-wise Results:

Resolution 1 (Ordinary - Financial Statements)

  • Total valid votes: 1,275,789,289 shares
  • Votes in favor: 1,270,979,050 shares (99.6230%)
  • Votes against: 4,810,239 shares (0.3770%)

Resolution 2 (Ordinary - Final Dividend)

  • Total valid votes: 1,283,293,672 shares
  • Votes in favor: 1,283,242,719 shares (99.9960%)
  • Votes against: 50,953 shares (0.0040%)

Resolution 3 (Ordinary - Director Appointment: Arun Kumar Singh)

  • Total valid votes: 1,283,292,990 shares
  • Votes in favor: 899,167,672 shares (70.0672%)
  • Votes against: 384,125,318 shares (29.9328%)

Resolution 4 (Ordinary - Director Appointment: Arvinder Singh Sahney)

  • Total valid votes: 1,283,292,940 shares
  • Votes in favor: 956,675,671 shares (74.5485%)
  • Votes against: 326,617,269 shares (25.4515%)

Resolution 5 (Ordinary - Related Party Transactions)

  • Total valid votes: 532,862,887 shares
  • Votes in favor: 532,793,019 shares (99.9869%)
  • Votes against: 69,868 shares (0.0131%)

Resolution 6 (Special - Director Commission)

  • Total valid votes: 1,283,292,624 shares
  • Votes in favor: 1,283,016,823 shares (99.9785%)
  • Votes against: 275,801 shares (0.0215%)

Category-wise Voting Breakdown:

Promoter & Promoter Group

  • Shares held: 750,000,000
  • Votes polled: 750,000,000 (100.00% participation)
  • Voted 100% in favor on all resolutions

Public - Institutions

  • Shares held: 602,997,906
  • Votes polled: 525,292,666 (87.11% participation)
  • Voted 99.09% in favor on Resolution 1

Public - Non-Institutions

  • Shares held: 147,002,182
  • Votes polled: 496,623 (0.34% participation)
  • Voted 88.69% in favor on Resolution 1

Scrutinizer's Role and Findings

M/s. Ragini Chokshi & Company was appointed as Scrutinizer to scrutinize the remote e-voting and voting during the AGM. The scrutinizer verified:

  • Notice of AGM was dispatched via email on 2nd September 2026 and published in The Indian Express and Dainik Jagran on 3rd September 2026
  • Cut-off date for voting rights: 21st September 2026
  • Remote e-voting period: 24th to 27th September 2026 via NSDL
  • E-voting during AGM was locked after closing and unblocked 30 minutes after conclusion
  • All resolutions passed with requisite majority

Compliance Confirmation

The voting process complied with:

  • Section 108 of the Companies Act, 2013
  • Rule 20 of the Companies (Management and Administration) Rules, 2014
  • Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • Various MCA General Circulars and SEBI Circulars referenced in the report