Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Meeting Details

  • Date of Meeting: September 25, 2026
  • Type of Meeting: 16th Annual General Meeting (AGM)
  • Location: Registered office of the Company at Plot No D/60, "Rudra House" 2nd Floor, Near Rammantra Mandir, Kaliabid Bhavnagar 364002
  • Meeting Time: 10:00 AM to 10:35 PM
  • Total Number of Shareholders on Record Date: 19,522
  • Shareholders Present: 42 shareholders (6 Promoters and Promoter Group, 36 Public)
  • Number of Resolutions Passed: 7

Proposed Resolutions and Implications

1. Adoption of Financial Statements (Ordinary Resolution) - Adoption of Audited Standalone and Consolidated Financial Statements for FY ended March 31, 2026, along with Auditor's Report and Board's Report.

2. Re-appointment of Director (Ordinary Resolution) - Appointment of Mr. Sahil Ashok Gupta (DIN: 02941599) who retires by rotation and offers himself for re-appointment.

3. Ratification of Cost Auditor's Remuneration (Ordinary Resolution) - Approval of remuneration for the cost auditor.

4. Approval of Material Related Party Transactions (Ordinary Resolution) - Transactions with Rudra Green Ship Recycling Limited (Promoters interested: Yes).

5. Approval of Material Related Party Transactions (Ordinary Resolution) - Transactions with YSR Building Solutions Private Limited (Promoters interested: Yes).

6. Increase in Borrowing Power Limit (Special Resolution) - Under Section 180(1)(c) of Companies Act, 2013.

7. Creation of Mortgage or Charge on Assets (Special Resolution) - Under Section 180(1)(A) of Companies Act, 2013.

Voting Process and Methods

  • Remote E-Voting Period: September 22, 2026 (09:00 AM IST) to September 24, 2026 (05:00 PM IST)
  • E-Voting Platform: KFin Technologies Limited (https://evoting.karvY.com)
  • Cut-off Date: September 18, 2026
  • Voting Methods: Remote e-voting and physical polling at AGM venue
  • Vote Calculation: One share = one vote

Key Voting Outcomes

Total Outstanding Shares: 100,343,828

Resolution 1: Adoption of Financial Statements
  • Total Votes Polled: 77,545,002 (77.2793% of outstanding shares)
  • In Favour: 77,544,693 (99.9996%)
  • Against: 309 (0.0004%)
  • Promoter Voting: 73,134,728 shares voted (100% in favour)
  • Public Non-Institutions: 4,410,274 shares voted (99.993% in favour, 0.007% against)
Resolution 2: Re-appointment of Director
  • Total Votes Polled: 4,410,274 (4.3952% of outstanding shares)
  • In Favour: 4,409,905 (99.9916%)
  • Against: 369 (0.0084%)
  • Promoter Voting: 0 shares voted (abstained due to interest)
  • Public Non-Institutions: 4,410,274 shares voted (99.9916% in favour, 0.0084% against)
Resolution 3: Ratification of Cost Auditor's Remuneration
  • Total Votes Polled: 77,545,002 (77.2793% of outstanding shares)
  • In Favour: 77,544,643 (99.9995%)
  • Against: 359 (0.0005%)
  • Promoter Voting: 73,134,728 shares voted (100% in favour)
  • Public Non-Institutions: 4,410,274 shares voted (99.9919% in favour, 0.0081% against)
Resolution 4: Related Party Transactions with Rudra Green Ship Recycling
  • Total Votes Polled: 4,410,274 (4.3952% of outstanding shares)
  • In Favour: 4,409,925 (99.9921%)
  • Against: 349 (0.0079%)
  • Promoter Voting: 0 shares voted (abstained due to interest)
  • Public Non-Institutions: 4,410,274 shares voted (99.9921% in favour, 0.0079% against)
Resolution 5: Related Party Transactions with YSR Building Solutions
  • Total Votes Polled: 4,410,274 (4.3952% of outstanding shares)
  • In Favour: 4,409,875 (99.9910%)
  • Against: 399 (0.0090%)
  • Promoter Voting: 0 shares voted (abstained due to interest)
  • Public Non-Institutions: 4,410,274 shares voted (99.9910% in favour, 0.0090% against)
Resolution 6: Increase in Borrowing Power Limit (Special)
  • Total Votes Polled: 77,545,002 (77.2793% of outstanding shares)
  • In Favour: 77,543,673 (99.9983%)
  • Against: 1,329 (0.0017%)
  • Promoter Voting: 73,134,728 shares voted (100% in favour)
  • Public Non-Institutions: 4,410,274 shares voted (99.9699% in favour, 0.0301% against)
Resolution 7: Creation of Mortgage or Charge (Special)
  • Total Votes Polled: 77,545,002 (77.2793% of outstanding shares)
  • In Favour: 77,542,702 (99.9970%)
  • Against: 2,300 (0.0030%)
  • Promoter Voting: 73,134,728 shares voted (100% in favour)
  • Public Non-Institutions: 4,410,274 shares voted (99.9478% in favour, 0.0522% against)

Participation Breakdown by Shareholder Category

  • Promoters and Promoter Group: 73,134,728 shares (72.88% of total outstanding)
  • Public Institutions: 0 shares
  • Public Non-Institutions: 27,209,100 shares (27.12% of total outstanding)

Scrutinizer's Role and Findings

  • Name: Nandish Dave
  • Firm: N S Dave & Associates
  • Qualification: CS
  • Membership Number: A37176
  • Appointment Date: September 1, 2026
  • Report Issuance Date: September 26, 2026

The scrutinizer was responsible for preparing the report of votes cast "in favour" or "against" the resolutions based on reports from the remote e-voting system and polling at AGM. The electronic data and relevant records are under the scrutinizer's safe custody and will be handed over to the Company Secretary after minutes approval.

Compliance Confirmation

The voting process was conducted in compliance with:

  • Section 108 of Companies Act, 2013
  • Rule 20 and 22 of Companies (Management and Administration) Rules, 2014
  • SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Additional Information

  • No invalid votes were recorded across all resolutions
  • The company is listed on both BSE Limited and National Stock Exchange of India Limited
  • Voting was unblocked in the presence of witnesses Priyanka Seth and Neha Thakar