Meeting Details

  • Meeting Type: 48th Annual General Meeting (AGM)
  • Date: Friday, September 25, 2026
  • Time: Commenced at 3:00 PM IST and concluded at 4:50 PM IST.
  • Location: Held through Video Conferencing (VC) / Other Audio-Visual Means (OAVM).

Proposed Resolutions and Implications

The following twelve (12) business items were proposed for shareholder approval:

1. Ordinary Resolution: Adoption of financial statements for the year ended March 31, 2026, including the Profit & Loss Statement, Balance Sheet, and Reports of Directors, Statutory Auditors, and the Comptroller and Auditor General of India (CAG).

2. Ordinary Resolution: Declaration of a final dividend of ₹1.34 per equity share and confirmation of an interim dividend of ₹1 per equity share for the financial year ended March 31, 2026.

3. Ordinary Resolution: Reappointment of Shri Niranjan S. Sonak (DIN: 10926090) as a Director, who retired by rotation.

4. Ordinary Resolution: Reappointment of Ms. Aparna S. Sharma (DIN: 07798544) as a Director, who retired by rotation.

5. Ordinary Resolution: To fix the remuneration of Statutory Auditors for the Financial Year 2026-27.

6. Ordinary Resolution: To ratify the remuneration of the Cost Auditors for the financial year ending March 31, 2027.

7. Ordinary Resolution: Appointment of Shri Shivakumar Subramaniam (DIN: 10784187) as Chairman & Managing Director of the Company.

8. Ordinary Resolution: Appointment of Dr. Krishna Kant Pathak (DIN: 08328847) as a Government Nominee Director of the Company.

9. Special Resolution: To amend the Main Objects Clause and adopt the Memorandum of Association of the Company in accordance with the Companies Act, 2013.

10. Special Resolution: Approval for raising funds through a Further Public Offer (FPO) of Equity Shares.

11. Special Resolution: Approval for an offer or invitation to subscribe to Secured or Unsecured Non-Convertible Debentures on a private placement basis.

12. Special Resolution: Appointment of Shri Rajnikant Bhulabhai Tandel (DIN: 11916422) as an Independent Director of the Company.

Voting Process

The voting process was conducted as follows:

  • Remote E-voting: The facility was provided through the CDSL portal. It started on Monday, September 21, 2026, at 9:00 AM IST and ended on Thursday, September 24, 2026, at 5:00 PM IST.
  • E-voting during AGM: Facility was also provided during the AGM for members who had not cast their votes via remote e-voting. The facility remained open for 15 minutes after the conclusion of the meeting.
  • The Statutory Registers were available for electronic inspection by members during the meeting.

Scrutinizer's Role

Shri Nrupang Dholakia of M/s Dholakia and Associates LLP, a Practicing Company Secretary, was appointed to scrutinize the remote e-voting and e-voting at the AGM in a fair and transparent manner.

Other Proceedings

The Chairman, Shri Shivakumar Subramaniam, provided an overview of the company's performance for FY 2025-26 and the future industry scenario. The Company Secretary read extracts of the Auditor's Report, comments of the CAG, and the qualification of the Secretarial Auditor along with management's responses. Shareholders who had registered in advance were invited to speak and ask questions, to which the Chairman responded.

Compliance Confirmation

The document confirms that the meeting was called, convened, and conducted in compliance with the provisions of the Companies Act, 2013, its rules, and the secretarial standards issued by the Institute of Company Secretaries of India. It was also held in compliance with circulars from the Ministry of Corporate Affairs and SEBI.