Meeting Details

  • Date: Tuesday, 29th September 2026
  • Time: Commenced at 12:35 PM and concluded at 1:20 PM
  • Location: Conducted entirely through Video Conferencing (VC) / Other Audio Visual Means (OAVM) in compliance with circulars issued by the Ministry of Corporate Affairs (MCA) and SEBI.
  • Type: 38th Annual General Meeting

Summary of Proposed Resolutions

The following eight items of business were transacted and approved by the members:

Ordinary Business:

1. Adoption of Audited Standalone and Consolidated Financial Statements for the year ended 31st March 2026, along with the Reports of Auditors and Board of Directors.

2. Re-appointment of Mr. Pratik R Jaju (DIN: 01899119) as a Director, who retired by rotation.

3. Appointment of Auditors.

Special Business:

4. Authorization to the Board for providing Loans/Guarantees/security under Section 185 of the Companies Act, 2013.

5. Approval for Transactions with related parties under Section 188 of the Companies Act, 2013.

6. Authorization to the Board for giving loans/guarantees/security and making investments under Section 186 of the Companies Act, 2013.

7. Variation in the objects of the Rights Issue mentioned in the Letter of Offer dated 8th June 2026.

8. Ratification of Re-Appointment of Cost Auditor.

Voting Process

  • The meeting was conducted virtually with no physical attendance, making the requirement for appointing proxies inapplicable.
  • Members could cast their votes electronically through a remote e-voting system during the meeting if they had not already done so.
  • The company appointed M/s. Dhiren R. Dave & Co., Company Secretaries (UIN: P1996GJ002900), as the Scrutinizer to scrutinize the voting process in a fair and transparent manner.
  • E-voting was kept open for an additional 15 minutes after the meeting concluded to allow members to cast their votes.

Key Voting Outcomes

  • The results of the e-voting are scheduled to be announced on or before 2nd October 2026.
  • The results will be informed to the stock exchanges and uploaded on the company's website (www.sumeetindustries.com).

Scrutinizer's Role

M/s. Dhiren R. Dave & Co. was appointed to scrutinize the remote e-voting process. Their findings and the detailed results will be disclosed along with the voting results announcement.

Compliance Statement

The meeting was conducted in accordance with the circulars issued by the MCA and SEBI. The notice of the AGM, along with the explanatory statements and the Annual Report for FY 2025-26, was emailed to members within the statutory time period.

Financial and Operational Highlights from Management Address

The Managing Director, Mr. Pratik R. Jaju, addressed the shareholders and provided the following key updates:

  • Financial Performance for FY 2025-26: Total Income was ₹21,053.81 crore; EBITDA was ₹260.77 crore (more than three times higher than the previous year); Profit After Tax (PAT) was ₹327.33 crore.
  • Rights Issue: The company successfully raised approximately ₹2,200 crore through a rights issue. The proceeds were used for operationalizing the newly acquired plant (Sumeet Speciality), prepayment of term loans, and strengthening working capital.
  • Operational Improvements: Added two new production lines with a combined capacity of 9,000 TPA, increasing turnover by ₹200 crore and adding Bright Yarn and Dope Dyed Yarn to the product mix. Introduced cationic FDY yarn. Replaced 18 old compressors, saving 20,000 units of power per day and approximately ₹400 lakhs yearly.
  • Renewable Energy: Executed a solar power plant (14 MW commissioned) and a wind power plant (4.2 MW commissioned) in 2026-27, with a further 12 MW solar expected by November 2026. This is expected to reduce power costs by approximately ₹23 crore yearly.
  • New Acquisition: Invested ₹290 crore to acquire a 140,000 TPA CP plant (Bottle Grade Chips), expected to raise the top line by ₹1,200 crore with an EBITDA margin of 5-6%.
  • Rebranding: The company introduced a new logo and identity under the 'Eagle Group' name.

Other Attendees

Panelists introduced at the meeting included Directors, Senior Management, Auditors (M/s. HTKS & Co.), the Scrutinizer (M/s. Dhiren R. Dave & Co.), and the Registrar and Share Transfer Agent (Bigshare Services Pvt. Ltd.).