Meeting Details

The 42nd Annual General Meeting was held on Tuesday, 21st July, 2026, conducted entirely through Video Conferencing (VC) / Other Audio Visual Means (OAVM). The meeting commenced at 11:30 A.M. and concluded at 01:03 P.M. The deemed venue was the Registered Office at Village Asron, Distt. Shahid Bhagat Singh Nagar (Nawanshahr), Punjab.

Resolutions and Business Conducted

The meeting transacted both ordinary and special business through five resolutions:

Ordinary Business:

  • Resolution 1: To receive, consider and adopt the Audited Financial Statements of the Company for the Financial Year ended 31st March, 2026 and the Reports of the Board of Directors and Auditors thereon.
  • Resolution 2: To declare a Final Dividend of Rs. 23.50 per equity share of the face value of Rs. 10 each, for the Financial Year ended 31st March, 2026.
  • Resolution 3: Re-appointment of Ms. Mahima Chugh (DIN 07448152) as a Director liable to retire by rotation.

Special Business:

  • Resolution 4: To approve Material Related Party Transactions with Mahindra & Mahindra Limited, Promoter and Holding Company.
  • Resolution 5: To approve payment of remuneration by way of commission to the Independent Directors of the Company.

Voting Process

The Company provided a remote e-voting facility to members. The e-voting period commenced on 17th July, 2026 at 9:00 AM (IST) and ended on 20th July, 2026 at 5:00 PM (IST). For members who had not cast their vote via remote e-voting, a facility for voting through an electronic voting system was available during the AGM. A 15-minute window was provided for e-voting after the conclusion of the meeting. The voting results were to be submitted to the Stock Exchanges within 48 hours of the conclusion of the AGM and placed on the company's website (https://smlmahindra.com/).

Attendance

Directors Present:

  • Mr. Vinod Kumar Sahay (DIN: 07884268) - Executive Chairman (attended from Mohali, Punjab)
  • Mr. C. S. Verma (DIN: 00121756) - Independent Director (attended from Mohali, Punjab)
  • Mr. Ravi Venkatraman (DIN: 00307328) - Independent Director (attended from Mohali, Punjab)
  • Mr. Arun Kumar Malhotra (DIN: 00132951) - Independent Director (attended from Mohali, Punjab)
  • Ms. Smita Mankad (DIN: 02009838) - Independent Director (attended from San Francisco, USA)
  • Ms. Mahima Chugh (DIN: 07448152) - Non-Executive Non-Independent Director (attended from Pune, Maharashtra)

Company Executives in Attendance:

  • Mr. Parvesh Madan - Company Secretary (attended from Mohali, Punjab)

Special Invitees - Senior Management:

  • Ms. Manaswini Goel - CFO - Aerospace, Advanced Technologies, Trucks & Buses (Mahindra Group) (attended from Mohali, Punjab)
  • Mr. Ritesh Agrawal - Chief Operating Officer (COO) (attended from Mohali, Punjab)
  • Mr. Pushkar Patwardhan - Chief Financial Officer (CFO) (attended from Mohali, Punjab)

Others in Attendance:

  • Mr. Gaurav Mahajan - Representative, M/s B S R & Co. LLP, Statutory Auditors (attended from New Delhi)
  • Mr. Ajay Arora - Secretarial Auditor (attended from Chandigarh)
  • Mr. Kanwaljit Singh Thanewal - Scrutinizer (attended from Chandigarh)

Scrutinizer and Compliance

The scrutinizer for the voting process was Mr. Kanwaljit Singh Thanewal. The Company Secretary confirmed that the Auditors issued a clean report for FY 2025-2026. The meeting was conducted in compliance with the applicable provisions of the Companies Act, 2013, SEBI (LODR) Regulations, 2015, and relevant circulars from the MCA and SEBI.