Meeting Details

The 44th Annual General Meeting (AGM) of Studds Accessories Limited was held on Saturday, September 05, 2026, through video conferencing. The meeting commenced at 04:00 PM (IST) and concluded at 05:11 PM (IST), excluding time allowed for e-voting.

Attendance

A total of 80 members attended the AGM. The requisite quorum was confirmed as present. The following documents were made available electronically for inspection: Register of Directors and Key Managerial Personnel and their shareholding, Register of Contracts or Arrangements in which Directors are interested, and all other documents referred to in the Notice including the Studds Accessories Limited Employee Stock Option Scheme 2026.

Directors Present

  • Mr. Madhu Bhushan Khurana - Chairman & Managing Director
  • Mr. Sidhartha Bhushan Khurana - Managing Director
  • Ms. Shilpa Arora - Whole-time Director
  • Mr. Shishira Rudrappa - Independent Director, Chairperson of Stakeholders' Relationship Committee and Nomination and Remuneration Committee, and representative for the Audit Committee

Other Attendees

  • Mr. Bharat Goyal - Chief Financial Officer
  • Ms. Asha Mittal - Company Secretary and Compliance Officer
  • Mr. Rajan Chhabra - Partner, M/s Rajan Chhabra & Co., Statutory Auditor
  • Mr. Shashikant Tiwari - Partner, Chandrasekaran Associates, Secretarial Auditor & Scrutinizer

Proceedings Summary

Mr. Madhu Bhushan Khurana chaired the meeting and welcomed members. Directors and management team introduced themselves. The presence of statutory auditor, secretarial auditor, and scrutinizer representatives was confirmed.

The Chairman delivered his speech to members, followed by an address from Mr. Sidhartha Bhushan Khurana who presented the company's business performance and other developments.

The Annual Report containing Financial Statements for FY 2025-26, Board's Report with annexures, Statutory Auditor's reports, and other reports were taken as read. There were no qualifications, observations, comments or remarks on financial transactions or matters with adverse effect on the company's functioning in either the Standalone and Consolidated Statutory Audit Reports or the Secretarial Audit Report for FY ended March 31, 2026.

Business Items

Ordinary Business:

1. To receive, consider and adopt: (a) audited standalone financial statements for FY ended March 31, 2026 and reports of Board of Directors and Auditors; (b) audited consolidated financial statements for FY ended March 31, 2026 and report of Auditors

2. To declare Final Dividend of ₹3 per Equity Share (60% of face value of ₹5 per share) for Financial Year 2025-26

3. To re-appoint Ms. Shilpa Arora (DIN: 10733950) who retires by rotation

Special Business:

4. To approve the introduction, implementation and administration of 'Studds Accessories Limited Employee Stock Option Scheme 2026' in compliance with Section 62(1)(b) of Companies Act, 2013, SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021, FEMA, and other applicable laws

5. To approve grant of ESOP Options to Eligible Employees of Subsidiary Companies, in India or outside India, under the 'Studds Accessories Limited Employee Stock Option Scheme 2026'

The Company Secretary & Compliance Officer briefed members on the resolutions. The Chairman apprised that objectives and implications of each resolution are set out in the Notice, with special business details in the Explanatory Statement. Items 1-3 were routine annual items, while Items 4-5 related to the Employee Stock Option Scheme 2026 intended to retain and reward company's people by aligning them with shareholders, requiring special resolution.

Shareholder Engagement

The floor was opened for questions from registered speaker shareholders. The Managing Director responded to queries and provided satisfactory clarifications.

Voting Process

Chandrasekaran Associates, Company Secretaries was appointed as Scrutinizer to scrutinize remote e-voting and e-voting at the meeting. Voting results will be declared within two working days and made available on the company's website, MUFG Intime India Private Limited's website, and stock exchange websites (BSE and NSE).

The e-voting facility remained open for 15 minutes after meeting conclusion for members who had not exercised their vote through remote e-voting.

The Chairman thanked members for their continued trust and support before concluding the meeting.

Additional Information

This information is available on the company's website at www.studds.com under Investor Relations section.