Meeting Details

The 38th Annual General Meeting was held on Friday, August 07, 2026 at 11:30 a.m. (IST) through Video Conferencing/Other Audio Visual Means. The deemed venue was the Registered Office of the Company at Unit No. 3043-3048, 3rd Floor, Bhandup Industrial Estate, Pannalal Silk Mills Compound, L.B.S. Marg, Bhandup (West), Mumbai – 400 078. The meeting commenced at 11:30 a.m. and concluded at 12:50 p.m. (IST), including 15 minutes granted for e-voting at the AGM.

Attendance Details

  • Number of shareholders as on cut-off date (July 31, 2026): 2,536
  • Shareholders attending through VC/OAVM: 32
  • Facility for participation was made available to up to 1,000 Members on first-come, first-served basis

Directors Present

1. Mr. Faraaz Irfan Chapra - Chairman, Director & CFO (elected Chairman of the Meeting)

2. Prof. (Dr.) Gurudayal Singh Toteja - Additional Independent Director

3. Mrs. Shikha Sethia Bhura - Independent Director

4. Mr. Shivanand Rama Hemmady - Independent Director

5. Mrs. Nitu Vishwakarma - Independent Director

6. Mr. Sandeep Jamnadas Merchant - Whole-time director

7. Mr. Nikhil Saran Mathur - Additional Non-Executive Director

8. Mr. Chirag Chandulal Rajpopat - Director

Other Attendees

  • Mr. Dhaval Girish Chheda – Chief Executive Officer
  • Mrs. Arti Lalwani – Company Secretary & Compliance Officer
  • Mr. Sandeep Khedekar – Head of the Accounts Department
  • Representatives of Statutory Auditors and Secretarial Auditors
  • Scrutinizer

Voting Process

Remote e-Voting facility was provided by MUFG Intime India Pvt. Ltd, commencing on Tuesday, August 04, 2026 (9:00 A.M.) and ending on Thursday, August 06, 2026 (5:00 P.M.). Facility for Voting through e-Voting Instapoll was made available at the AGM. Mr. Alok Khairwar, Proprietor of M/s. Alok Khairwar & Associates, was appointed as the Scrutinizer.

Business Transacted

Ordinary Business:

1. To receive, consider and adopt the Audited Financial Statements for the Financial Year ended March 31, 2026 together with Reports of the Board of Directors and Auditors

2. To take note of Interim Dividends declared and paid during FY2025-26 and to declare Final Dividend on Equity Shares for FY ended March 31, 2026

3. To appoint a Director in place of Mr. Chirag Chandulal Rajpopat (DIN: 10585562) who retires by rotation

Special Business:

4. Approve Appointment of Ms. Nitu Vishwakarma (DIN: 11731242) as an Independent Director (Special Resolution)

5. Approval for Sub-Division (Stock Split) of Every 1 Equity Share of Face Value of ₹10/- Each into 5 Equity Shares of Face Value of ₹2/- Each (Ordinary Resolution)

6. Approval for Alteration of Capital Clause (Clause V) of Memorandum of Association consequent to Sub-Division of Equity Shares (Ordinary Resolution)

7. Approval for Re-designation of Mr. Sandeep Jamnadas Merchant (DIN: 05210128) from Whole-time Director to Managing Director and Vice Chairman (Special Resolution)

8. Appointment of Dr. Huzaifa Habil Khorakiwala (DIN: 02191870) as Non-Executive Director and Chairman (Ordinary Resolution)

9. Appointment of Mr. Nikhil Saran Mathur (DIN: 00192195) as Non-Executive Director (Ordinary Resolution)

10. To approve Material Related Party Transactions with entities in which Mr. Faraaz Irfan Chapra is interested (Ordinary Resolution)

11. To approve Material Related Party Transactions with entities in which Mr. Sandeep Jamnadas Merchant is interested (Ordinary Resolution)

12. To approve Material Related Party Transactions with entities in which Mr. Dhaval Girish Chheda, CEO is interested (Ordinary Resolution)

13. Approval for Formation of a Joint Venture Company with The Peace Mission Private Limited (Special Resolution)

Result Announcement

The combined results of remote e-Voting and e-Voting through Instapoll at AGM were to be announced within 2 working days of conclusion of the Meeting. The results along with consolidated Scrutinizer's Report were to be intimated to the Stock Exchange and placed on the website of the Company and MUFG Intime India Pvt. Ltd.