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

S.A.L. Steel Limited

Meeting Details

The 23rd Annual General Meeting was held on Friday, September 25, 2026 through Video Conferencing/Other Audio Visual Means (VC/OAVM). The meeting was deemed to have been held at the Registered Office of the Company at 604, Zion Prime Z-1, Near Avalon Hotel, Sindhu Bhavan Road, Bodakdev, Ahmedabad: 380 059, Gujarat State, India.

  • Meeting Type: Annual General Meeting (AGM)
  • Date: September 25, 2026
  • Start Time: 12:30 PM IST
  • End Time: 01:20 PM IST
  • Location: Virtual meeting through VC/OAVM
  • Record Date: September 18, 2026
  • Total Shareholders on Record Date: 54,160

Proposed Resolutions and Implications

Four resolutions were proposed for shareholder approval:

1. Ordinary Resolution: To receive, consider and adopt the financial statements of the Company including the Audited Balance Sheet as on March 31, 2026, the Statement of Profit and Loss and the Cash flow statement for the year ended on that date and the Reports of the Board of Directors and the Auditors of the Company.

2. Ordinary Resolution: To appoint Shri Mahesh Kumar Agarwal (DIN: 00168517), who retires by rotation as a director and being eligible, offers himself for re-appointment.

3. Ordinary Resolution: To ratify the remuneration payable to Cost Auditors of the Company M/s. Ashish Bhavsar & Associates, Cost Accountants (ICMAI Registration No.: 22464) for the financial year ending March 31, 2027.

4. Special Resolution: To approve regularization of Mrs. Monika Goyal (DIN: 11881952), as an additional director in the capacity of non-executive independent Woman director.

Voting Process and Methods

The voting process utilized two methods:

  • Remote E-voting: Conducted through National Security Depository Limited (NSDL) from Tuesday, September 22, 2026 (09:00 AM IST) to Thursday, September 24, 2026 (05:00 PM IST)
  • Physical E-voting at AGM: Conducted during the meeting for shareholders who had not voted remotely

Key Voting Outcomes

Resolution 1: Adoption of Financial Statements
  • Total Votes Cast: 106,152,584 (99.998% in favor, 0.002% against)
  • Remote E-voting: 94 members voted with 98,798,946 votes (93.071%)
  • Physical E-voting: 2 members voted with 7,353,638 votes (6.927%)
  • Against Votes: 1,389 votes from 4 members (0.002%)
  • Result: Passed as Ordinary Resolution
Resolution 2: Re-appointment of Mahesh Kumar Agarwal
  • Total Votes Cast: 106,151,584 (99.997% in favor, 0.003% against)
  • Remote E-voting: 93 members voted with 98,797,946 votes (93.070%)
  • Physical E-voting: 2 members voted with 7,353,638 votes (6.927%)
  • Against Votes: 2,389 votes from 5 members (0.003%)
  • Result: Passed as Ordinary Resolution
Resolution 3: Ratification of Cost Auditor Remuneration
  • Total Votes Cast: 106,151,084 (99.996% in favor, 0.004% against)
  • Remote E-voting: 93 members voted with 98,797,446 votes (93.069%)
  • Physical E-voting: 2 members voted with 7,353,638 votes (6.927%)
  • Against Votes: 2,889 votes from 5 members (0.004%)
  • Result: Passed as Ordinary Resolution
Resolution 4: Regularization of Monika Goyal
  • Total Votes Cast: 106,151,084 (99.996% in favor, 0.004% against)
  • Remote E-voting: 93 members voted with 98,797,446 votes (93.069%)
  • Physical E-voting: 2 members voted with 7,353,638 votes (6.927%)
  • Against Votes: 2,889 votes from 5 members (0.004%)
  • Result: Passed as Special Resolution

Participation Breakdown by Shareholder Category

Overall Participation
  • Total Shareholders Present: 54 members (including promoters)
  • Promoters Present: 2 members via video conferencing
  • Public Shareholders Present: 52 members via video conferencing
  • Quorum: Requirements fulfilled as per Companies Act 2013

Scrutinizer's Role and Findings

Kamlesh M. Shah, proprietor of Kamlesh M. Shah & Co., Company Secretaries (Membership No. A8356, COP-2072) was appointed as Scrutinizer by Board Resolution dated August 14, 2026. The scrutinizer's responsibilities included:

  • Overseeing both remote e-voting and physical e-voting processes
  • Unblocking the e-voting portal on September 25, 2026 at 3:40 PM in the presence of witnesses Mr. Anish V Shah and Mr. Praful Lavantra
  • Certifying that all resolutions passed with requisite majority
  • Ensuring electronic data and relevant records are preserved for handover to the Company Secretary

Compliance with Laws and Regulations

The voting process complied with:

  • Section 108 of the Companies Act, 2013
  • Rule 20, 21 and other applicable provisions of the Companies (Management and Administration) Rules, 2014
  • Regulation 44 of the SEBI (Listing Obligation and Disclosure Requirement) Regulations, 2015

Signatories and Roles

  • Devilal J. Shah: Company Secretary and Compliance Officer (ICSI Mem. No. A58287)
  • Kamlesh M. Shah: Scrutinizer, Practicing Company Secretary (Membership No. A8356, UDIN: A008356H001610803)

Additional Information

  • NSE Symbol: SALSTEEL
  • Scrutinizer Appointment Date: August 14, 2026
  • Scrutinizer Report Date: September 25, 2026
  • Witnesses to Unblocking: Mr. Anish V Shah and Mr. Praful Lavantra (both confirmed not employees of the company or PCS firm)
  • Total Outstanding Shares: 144,766,700
  • Total Votes Polled: 106,153,973 (73.3276% of outstanding shares)