Solara AGM Passes All Five Resolutions

Meeting Details

The Ninth AGM was held on Friday, September 18, 2026, at 10:30 A.M. IST through Video Conferencing. The notice of the AGM was dated August 21, 2026.

Summary of Proposed Resolutions

All five ordinary resolutions proposed in the AGM notice were passed by shareholders with requisite majority:

1. Resolution 1: Adoption of Audited Standalone Financial Statements for the financial year ended March 31, 2026

2. Resolution 2: Adoption of Audited Consolidated Financial Statements for the financial year ended March 31, 2026

3. Resolution 3: Appointment of Mr. Arun Kumar Pillai (DIN: 00084845), who retires by rotation, as a Non-Executive Director (Promoters were interested in this resolution)

4. Resolution 4: Ratification of remuneration payable to the Cost Auditor for the financial year 2026-27

5. Resolution 5: Approval for Material Related Party Transactions/Contracts/Arrangements with Strides Pharma Science Limited up to ₹480 crores (Promoters were interested in this resolution)

Voting Process and Methods

The voting was conducted through:

Remote e-voting from 9:00 a.m. on September 15, 2026, till 5:00 p.m. on September 17, 2026
E-voting at the AGM for members present through video conferencing who had not voted remotely

Central Depository Services (India) Limited (CDSL) provided the e-voting facilities.

Key Voting Outcomes

Overall Participation

Total number of shareholders on record date: 71,549
Shareholders attended meeting through video conferencing: 59 (15 Promoters/Promoter Group, 44 Public)
Total votes cast across all resolutions: Approximately 55.61% of outstanding shares

Resolution-wise Results:

Resolution 1 (Standalone Financial Statements)

Total votes polled: 26,739,531 (55.6126% of outstanding shares)
Votes in favor: 26,739,515 (99.9999% of votes polled)
Votes against: 16 (0.0001% of votes polled)

Resolution 2 (Consolidated Financial Statements)

Total votes polled: 26,739,515 (55.6126% of outstanding shares)
Votes in favor: 26,739,515 (99.9999% of votes polled)
Votes against: 16 (0.0001% of votes polled)

Resolution 3 (Director Appointment)

Total votes polled: 25,078,459 (52.16% of outstanding shares)
Votes in favor: 25,067,457 (99.9561% of votes polled)
Votes against: 11,002 (0.0439% of votes polled)

Resolution 4 (Cost Auditor Remuneration)

Total votes polled: 26,746,922 (55.628% of outstanding shares)
Votes in favor: 26,738,623 (99.969% of votes polled)
Votes against: 8,299 (0.031% of votes polled)

Resolution 5 (Related Party Transactions)

Total votes polled: 7,804,372 (16.2314% of outstanding shares)
Votes in favor: 7,794,105 (99.8684% of votes polled)
Votes against: 10,267 (0.1316% of votes polled)
Invalid votes: 70,000 (related party votes considered invalid)

Category-wise Breakdown:

Promoter & Promoter Group participation ranged from 85.0371% to 93.284% across resolutions, with 100% approval on all resolutions where they voted.

Public Institutions participation was 77.15-77.2504% with near-unanimous approval (99.8743-100%).

Public Non-Institutions participation was 10.7766-11.1159% with approval rates ranging from 99.5381% to 99.9993%.

Scrutinizer's Role and Findings

Preetham Hebbar of Preetham Hebbar & Co., Company Secretaries was appointed as Scrutinizer. Key findings:

Notice and annual report were sent electronically to members on August 25, 2026
Advertisement was published in Business Standard (English) and Pratahkal (Marathi) on August 26, 2026
Cut-off date for voting rights: September 11, 2026
Votes were unblocked on September 18, 2026, at 12:43 PM IST in presence of two independent witnesses
Votes were reconciled with shareholding records maintained by Cameo Corporate Services Limited (RTA)
No members abstained from voting
No physical ballot papers were used
The scrutinizer confirmed all resolutions passed with requisite majority

Compliance Confirmation

The voting process complied with:

Sections 107, 108 and 109 of the Companies Act, 2013
Rules 20 and 21 of the Companies (Management and Administration) Rules, 2014
Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Relevant MCA and SEBI circulars regarding virtual meetings