Meeting Details

  • Meeting Type: 19th Annual General Meeting (AGM)
  • Date: Friday, September 11, 2026
  • Time: Commenced at 3:00 p.m. IST and concluded at 4:20 p.m. IST
  • Location: Conducted through Video Conferencing (VC)/Other Audio Visual Means (OAVM). The Registered Office at Plot No. EL 79, Electronic Zone, TTC, MIDC, Mahape, Navi Mumbai, Thane – 400 710, Maharashtra, India was deemed the venue.
  • Legal Basis: Conducted in accordance with circulars from the Ministry of Corporate Affairs (MCA) and Securities and Exchange Board of India (SEBI).

Summary of Proposed Resolutions

The following six resolutions were proposed for shareholder approval:

Ordinary Business

1. Item 1: To receive, consider, and adopt the audited standalone and consolidated financial statements for the financial year ended March 31, 2026, together with the reports of the Board of Directors and Auditors. (Ordinary Resolution)

2. Item 2: To re-appoint Mr. Ram Agarwal (DIN: 01739245) as a Director of the Company, liable to retire by rotation. (Ordinary Resolution)

3. Item 3: To appoint M/s Valawat and Associates as the Statutory Auditors of the Company. (Ordinary Resolution)

Special Business

4. Item 4: To ratify the remuneration payable to M/s Y R Doshi & Company, Cost Auditor for the Financial Year 2026-27. (Ordinary Resolution)

5. Item 5: To alter the Objects Clause of the Memorandum of Association of the Company. (Special Resolution)

6. Item 6: To issue fully convertible warrants convertible into equity shares of the Company on a preferential basis, involving a proposed fund raising of approximately ₹42.61 crore. (Special Resolution)

Voting Process

The voting process was conducted as follows:

  • Remote E-Voting Period: Commenced on September 08, 2026, at 9:00 a.m. and ended on September 10, 2026, at 5:00 p.m.
  • E-Voting at AGM: The facility of e-voting was also provided during the AGM and remained available until 15 minutes after the conclusion of the meeting's proceedings.
  • Scrutinizer Appointment: M/s. Sandeep P Parekh & Co, Company Secretaries, Mumbai (Membership No.: F-7118; CP No. 7693) was appointed as the Scrutinizer to supervise the votes cast through remote e-voting and the e-voting system at the AGM.

Key Meeting Proceedings and Presentations

The meeting included several presentations:

  • The Chairman, Mr. Tapan Ghose, highlighted the company's journey, key business developments, manufacturing expansion, and strategic focus on Battery Energy Storage Systems (BESS).
  • The Chief Financial Officer, Mr. Abhishek Jain, presented financial highlights for FY 2025–26. Key points included:
  • Standalone and consolidated revenue and profitability growth.
  • Impact of temporary supply chain disruptions and manufacturing challenges in Q4 FY2025–26.
  • Increase in working capital and receivables, with collections commenced in H1 FY2026–27.
  • Key orders secured from leading organizations and an executable order book of over ₹1,100 crore.
  • Upcoming BESS facility at Jhajjar, Haryana, and UPS manufacturing facility at Bakrol, Gujarat.
  • Digital transformation through SAP Business One and Salesforce implementation.
  • Improvement in debt-equity ratio following public listing.
  • Focus on profitable growth, cash generation, and operational efficiency.
  • The Statutory Auditors' Report was noted to have no adverse remarks.
  • Members were given an opportunity to ask questions, which were addressed by the management.

Attendance

  • Board Members Present: Mr. Tapan Ghose (Chairman & Managing Director), Mr. Vikas Agarwal (Director), Mr. Bhargav Chatterjee (Whole-time Director), Mr. Goutam Paul (Independent Director), Mr. Shivkumar Baser (Independent Director), Mr. Ganesh Pansari (Independent Director).
  • Senior Management Present: Mr. Abhishek Jain (Chief Financial Officer), Mr. Sachin Gupta (Company Secretary and Compliance Officer).
  • Other Representatives: Mr. Aman Gaud (M/s Mansaka Ravi & Associates, Statutory Auditor), Mr. Sandeep Parekh (M/s. Sandeep P Parekh & Co, Secretarial Auditor and Scrutinizer), Mr. Ronak Mukesh Shah (Internal Auditor).
  • Shareholders: 48 members attended the meeting through video conference.

Compliance and Reporting

  • The Annual Report containing the Notice was available on the company's website at www.prostarm.com.
  • The company authorized Mr. Ram Agarwal (Whole-Time Director & CEO) and/or Mr. Sachin Gupta (Company Secretary) to countersign the consolidated results.
  • The voting results, pursuant to Regulation 44(3) of SEBI LODR, and the Scrutinizer's Report, pursuant to Section 108 of the Companies Act, 2013 and Rule 20 of the Companies (Management and Administration) Rules, 2014, will be submitted to the stock exchanges in due course.
  • The company confirmed compliance with applicable SEBI Listing Regulations.