Meeting Details

  • Date: Tuesday, 22nd September, 2026
  • Time: 12:30 pm
  • Location: Conducted through Video Conferencing (VC) / Other Audio-Visual Means (OAVM)
  • Type: 12th Annual General Meeting

Summary of Resolutions and Implications

All 13 resolutions set out in the Notice of 12th AGM were passed with requisite majority:

Ordinary Resolutions:

1. Adoption of Audited Consolidated and Standalone Financial Statements for FY ended 31st March, 2026

2. Declaration of Final Dividend of ₹0.55 per equity share (face value ₹10 each)

3. Re-appointment of Dr. Chetan Shah (DIN: 02253886) as director retiring by rotation

4. Re-appointment of Mr. Kalpesh Patel (DIN: 01066992) as director retiring by rotation

5. Appointment of Cost Auditor

12. Approval of material related party transactions with subsidiary company

Special Resolutions:

6. Revision in remuneration of Dr. Chetan Shah, Chairman and Managing Director

7. Re-appointment of Dr. Chetan Shah as Chairman and Managing Director

8. Re-appointment of Mr. Piyush Chandak (DIN: 09195922) as Whole-Time Director

9. Approval of inter-corporate loans, guarantees or securities under Section 185

10. Approval of loans, investments, guarantees under Section 186 to Solex Green Energy Private Limited

11. Approval of loans, investments, guarantees under Section 186 to Solex New Energy Private Limited

13. Increase in Borrowing Limits under Section 180(1)(c)

Voting Process and Methods

  • Remote e-voting conducted through NSDL from 19th September, 2026 (09:00 hours) to 21st September, 2026 (17:00 hours)
  • Venue e-voting during AGM provided by KFIN through VC/OAVM
  • Cut-off date for determining shareholders: Tuesday, 15th September, 2026
  • Members present at AGM who hadn't voted remotely were allowed to cast votes during meeting

Key Voting Outcomes

Resolution 1 (Ordinary - Financial Statements)

  • Total Votes Cast: 7,260,624
  • In Favor: 100% (7,260,624 votes)
  • Against: 0% (0 votes)
  • Invalid: 0 votes

Resolution 2 (Ordinary - Dividend ₹0.55/share)

  • Total Votes Cast: 7,260,624
  • In Favor: 100% (7,260,624 votes)
  • Against: 0% (0 votes)
  • Invalid: 0 votes

Resolution 3 (Ordinary - Re-appointment Dr. Chetan Shah)

  • Total Votes Cast: 6,327,977
  • In Favor: 99.95% (6,327,871 votes)
  • Against: 0.05% (3,106 votes)
  • Invalid: 0 votes

Resolution 4 (Ordinary - Re-appointment Mr. Kalpesh Patel)

  • Total Votes Cast: 7,260,624
  • In Favor: 99.97% (7,258,224 votes)
  • Against: 0.03% (2,400 votes)
  • Invalid: 0 votes

Resolution 5 (Ordinary - Cost Auditor Appointment)

  • Total Votes Cast: 7,260,624
  • In Favor: 100% (7,260,622 votes)
  • Against: 0% (2 votes)
  • Invalid: 0 votes

Resolution 6 (Special - Dr. Shah Remuneration Revision)

  • Total Votes Cast: 6,330,847
  • In Favor: 91.07% (5,765,238 votes)
  • Against: 8.93% (565,609 votes)
  • Invalid: 0 votes

Resolution 7 (Special - Dr. Shah Re-appointment as CMD)

  • Total Votes Cast: 6,330,847
  • In Favor: 99.90% (6,324,438 votes)
  • Against: 0.10% (6,409 votes)
  • Invalid: 0 votes

Resolution 8 (Special - Mr. Chandak Re-appointment)

  • Total Votes Cast: 5,165,389
  • In Favor: 99.94% (5,162,283 votes)
  • Against: 0.06% (3,106 votes)
  • Invalid: 0 votes

Resolution 9 (Special - Section 185 Approvals)

  • Total Valid Votes: 490,594
  • In Favor: 99.99% (490,562 votes)
  • Against: 0.01% (32 votes)
  • Invalid: 559,200 votes (1 member)

Resolution 10 (Special - Section 186 to Solex Green Energy)

  • Total Valid Votes: 490,594
  • In Favor: 99.99% (490,562 votes)
  • Against: 0.01% (32 votes)
  • Invalid: 559,200 votes (1 member)

Resolution 11 (Special - Section 186 to Solex New Energy)

  • Total Valid Votes: 490,594
  • In Favor: 100% (490,592 votes)
  • Against: 0% (2 votes)
  • Invalid: 559,200 votes (1 member)

Resolution 12 (Ordinary - Related Party Transactions)

  • Total Valid Votes: 490,594
  • In Favor: 100% (490,562 votes)
  • Against: 0% (32 votes)
  • Invalid: 559,200 votes (1 member)

Resolution 13 (Special - Borrowing Limits Increase)

  • Total Votes Cast: 7,260,624
  • In Favor: 92.21% (6,695,015 votes)
  • Against: 7.79% (565,609 votes)
  • Invalid: 0 votes

Scrutinizer's Role and Findings

  • Scrutinizer: Rajesh Parekh, Partner of M/s. RPSS & Co., Company Secretaries
  • Scope: Scrutinizing remote e-voting and venue e-voting for all resolutions
  • Findings: All electronic data containing list of shareholders who voted FOR, AGAINST and INVALID for each resolution submitted to Company
  • Compliance: Process conducted in accordance with MCA circulars and Companies Act provisions

Compliance Confirmation

  • Conducted pursuant to Section 108 and 109 of Companies Act, 2013 read with Rule 20 of Companies (Management and Administration) Rules, 2014
  • Compliant with SEBI (LODR) Regulations, 2015
  • Notices sent via email to shareholders registered with RTA/Depositories as on cut-off date
  • Voting results and scrutinizer report uploaded on company website: https://solex.in/investor/

Additional Information

  • Company Address: 8th Floor, 801 – 812 Rio Empire, Opp. RTO Pal, Adajan DN, Surat, Gujarat, India, 395009
  • Company Secretary Contact: R-22, Avani Raw House, Nr. Mansi Char Rasta, Satellite, Ahmedabad – 380015