The South India Paper Mills Limited submitted voting results from its 67th Annual General Meeting (AGM) held on 17 September 2026 at 11:30 AM through Video Conference. The company disclosed that all five resolutions were passed with requisite majority.

Voting Process Details

  • Cut-off date for shareholders entitled to vote: 10 September 2026
  • Total number of shareholders on record date: 4,812
  • Remote e-voting period: 14 September 2026 (9:00 AM) to 16 September 2026 (5:00 PM)
  • E-voting at AGM through Instapoll: 17 September 2026
  • Scrutinizer: CS Hitaish Kumar S N, Practicing Company Secretary (FCS 6564, M No 6553)
  • Voting agency: KFin Technologies Limited
  • Total shares outstanding: 1,87,50,000

Resolution-wise Voting Results

Resolution 1 - Ordinary Resolution: Adoption of Audited Financial Statements

  • To receive, consider and adopt the Audited Balance Sheet as at 31 March 2026, Statement of Profit and Loss, Cash Flow Statement, and Reports of Directors and Auditors
  • Total votes in favor: 97,57,481 (100%)
  • Votes against: 0
  • Invalid votes: 0

Resolution 2 - Ordinary Resolution: Reappointment of Director

  • To appoint Mr. Ajay D Patel (DIN 00466905) who retires by rotation
  • Total votes in favor: 97,28,262 (99.7005%)
  • Votes against: 29,219 (0.2995%)
  • Invalid votes: 0

Resolution 3 - Special Resolution: Continuation of Mr. Harshad Natvarlal Modi

  • Approval for continuation of Mr. Harshad Natvarlal Modi (DIN 00167613) as Non-Executive Director notwithstanding him attaining age of 75 years, pursuant to SEBI LODR Regulation 17(1A)
  • Total votes in favor: 97,28,362 (99.7016%)
  • Votes against: 29,119 (0.2984%)
  • Invalid votes: 0

Resolution 4 - Special Resolution: Remuneration of Managing Director

  • Approval of remuneration for Mr. Manish M Patel (DIN: 00128179), Managing Director, for remaining tenure until 19 May 2029
  • Remuneration structure:
  • Salary: ₹7,50,000 per month with annual increments
  • Perquisites as enumerated in explanatory statement
  • Variable commission: 2% of net profits
  • Aggregate remuneration not to exceed 5% of net profits
  • Overall managerial remuneration not to exceed 10% of net profits
  • Minimum remuneration payable in years of loss/inadequate profits as per Schedule V
  • Total votes in favor: 97,28,362 (99.7016%)
  • Votes against: 29,119 (0.2984%)
  • Invalid votes: 0

Resolution 5 - Special Resolution: Remuneration of Whole Time Director

  • Approval of remuneration for Mr. Kanishka Harshad Modi (DIN: 10260282), Whole Time Director, for remaining tenure until 14 December 2028
  • Remuneration structure:
  • Salary: ₹5,00,000 per month with annual increments
  • Allowance & perquisites as enumerated in explanatory statement
  • Variable commission: 2% of net profits
  • Aggregate remuneration not to exceed 5% of net profits
  • Overall managerial remuneration not to exceed 10% of net profits
  • Minimum remuneration payable in years of loss/inadequate profits as per Schedule V
  • Total votes in favor: 97,28,362 (99.7016%)
  • Votes against: 29,119 (0.2984%)
  • Invalid votes: 0

Shareholder Participation

  • Total votes polled: 97,57,481 (52.0399% of outstanding shares)
  • Promoter and Promoter Group participation: 33,65,091 votes (64.5072% of their holding)
  • Public Institutions participation: 0 votes
  • Public Non-Institutions participation: 63,92,390 votes (47.491% of their holding)
  • Shareholders present through Video Conference: 44 (6 Promoters and Promoter Group, 38 Public)