Meeting Details
The 33rd Annual General Meeting was held on Wednesday, July 29, 2026 at 11:00 A.M. (IST) through Video Conferencing / Other Audio Visual Means. The meeting commenced at 11:00 A.M. and concluded at 12:15 P.M. (75 minutes duration). The registered office at Survey No. 59/1/4, Amli Piparia Industrial Estate, Silvassa, Union Territory of Dadra & Nagar Haveli and Daman & Diu - 396230, India was deemed the venue.
Attendance
Directors Present:
- Mr. Krishna Madhusudan Jhunjhunwala (Chairman & Managing Director)
- Mr. Kanav Krishna Jhunjhunwala (Whole-time Director)
- Ms. Neha Krishna Jhunjhunwala (Director - Executive)
- Mr. Sachin Abhyankar (Non-Executive Independent Director, Chairman of Audit Committee and Stakeholders' Relationship Committee)
- Mr. Bharat Jhamvar (Non-Executive Independent Director)
- Mr. Paulo Manuel Castro Ferreira Mouro (Non-Executive Independent Director)
Other Attendees:
- Mr. Kayvanna Shah (Chief Financial Officer)
- Mr. Pratik Chebale (representing M/s. CNK & Associates LLP, Statutory Auditors)
- CS Swati Gupta (Secretarial Auditor)
- 62 Members attended through VC/OAVM
Voting Arrangements
Remote e-voting was conducted through MUFG Intime India Private Limited (formerly Link Intime India Private Limited) from Friday, July 24, 2026 at 9:00 A.M. (IST) to Tuesday, July 28, 2026 at 5:00 P.M. (IST). Electronic voting remained open for 15 minutes after meeting conclusion for members who hadn't voted remotely. CS Vyoma Desai of M/s. Abbas Lakdawala & Associates LLP was appointed Scrutinizer.
Key Discussions
Auditors' Report Qualification: The Statutory Auditors' Report on Standalone and Consolidated Financial Statements for FY 2025-26 contained a qualified opinion relating to exceptional loss recognized on sale of preference shares held in Sarla Flex Inc. The Chairman explained the transaction was undertaken after consultation with the Authorised Dealer Bank, and requisite regulatory approvals were under process. Management does not foresee uncertainty regarding approval receipt based on updates from the bank.
Secretarial Audit Report: Contained no qualification, reservation, or adverse remark.
Chairman's Address: Covered operational and financial performance during FY 2025-26, global industry developments, export outlook, buyback completed during the year, sustainability initiatives, innovation, future growth strategy, and rationale for remuneration resolutions including impact of exceptional loss on computation of net profits under Section 198 of the Companies Act, 2013.
Business Transacted
Seven resolutions from Notice dated April 22, 2026 were considered:
| Item | Particulars | Resolution Type |
| 1 | Adoption of Audited Standalone and Consolidated Financial Statements for FY 2025-26 with Reports of Board of Directors and Auditors | Ordinary |
| 2 | Declaration of Final Dividend of ₹2 per Equity Share of face value ₹1 each | Ordinary |
| 3 | Re-appointment of Ms. Neha Krishna Jhunjhunwala (DIN: 07144529), Director retiring by rotation | Ordinary |
| 4 | Ratification of remuneration payable to Cost Auditors | Ordinary |
| 5 | Revision in remuneration of Ms. Neha Krishna Jhunjhunwala, Director (Executive) | Special |
| 6 | Waiver of recovery of excess remuneration paid to Ms. Neha Krishna Jhunjhunwala for FY 2025-26 | Special |
| 7 | Approval of remuneration of Executive Directors under Section 197 of Companies Act, 2013 and Regulation 17(6)(e) of SEBI Listing Regulations | Special |
Shareholder Engagement
Twenty registered speaker shareholders addressed the meeting with queries on company affairs. The Chairman and management team responded to all queries and provided necessary clarifications.
Next Steps
Voting results together with consolidated Scrutinizer's Report will be declared within two working days from meeting conclusion and submitted to BSE Limited and National Stock Exchange of India Limited, and uploaded on company website.