Meeting Details

The 40th AGM was held on Friday, September 25, 2026, at 12:00 PM IST through Video Conferencing (VC) or Other Audio-Visual Means (OAVM), without physical attendance, as permitted by the Ministry of Corporate Affairs General Circular No. 03/2025 dated September 22, 2025. The deemed venue was the Registered Office at 33/1, Mount Road, Sadar, Nagpur - 440001, Maharashtra, India.

Proposed Resolutions and Implications

Six resolutions were transacted, comprising three ordinary business items and three special business items:

Ordinary Business:

1. Adoption of Audited Financial Statements (Standalone and Consolidated) for FY 2025-26 ended March 31, 2026, including Balance Sheet, Statement of Profit and Loss, Cash Flow, Board's Report, and Statutory Auditors' Report.

2. Declaration of final dividend @10% (₹1 per share) on equity shares of face value ₹10 each for FY ended March 31, 2026.

3. Re-appointment of Mr. Ravi Bhushan Bhardwaj (DIN: 00054700), who retires by rotation.

Special Business:

4. Appointment of Mr. Mukund Prabhakar Chaudhari (DIN: 05339308) as a Non-Executive Independent Director for a fixed term of 40 months.

5. Re-appointment of Mr. Ramchandra Vasant Dalvi (DIN: 00012065) as Director (Technical), a Key Managerial Personnel, for a further period of three years effective August 14, 2026.

6. Ratification of remuneration of Cost Auditors for FY 2026-27.

Voting Process and Methods

The remote e-voting facility was provided from September 21, 2026, at 09:00 AM to September 24, 2026, at 05:00 PM via NSDL. E-voting was also available during the AGM for members who had not voted remotely. The scrutinizer, CS Rachna Daga, processed the votes, and the cumulative results of remote e-voting and e-voting at the AGM were used to determine outcomes.

Key Voting Outcomes and Scrutinizer's Role

The voting results and scrutinizer's report will be available on the company's website (www.sunflagsteel.com), NSDL (www.evoting.nsdl.com), BSE (www.bseindia.com), and NSE (www.nseindia.com). The results will be declared by the Chairman or authorized person and posted within two working days post-AGM.

Compliance with Laws and Regulations

The meeting complied with the Companies Act, 2013, SEBI LODR Regulations, 2015, and MCA circulars. The Chairman confirmed that resolutions passed via e-voting are treated as approved in the AGM.

Attendees and Proceedings

Directors Present:

  • Mr. Ravi Bhushan Bhardwaj (Non-Executive Chairman)
  • Mr. M.A.V. Goutham (Non-Executive Independent)
  • Mr. Mukund Prabhakar Chaudhari (Non-Executive Independent)
  • Mr. Pranav Bhardwaj (Managing Director)
  • Mr. Ramchandra V. Dalvi (Director Technical)
  • Mr. Suhrit Bhardwaj (Non-Executive Director)
  • Mr. Tirthnath Jha (Non-Executive Independent)
  • CA Vinita Bahzu (Non-Executive Independent)

Other Attendees:

  • CS Ashutosh Mishra (Head Company Secretary & Compliance Officer)
  • Mr. S. Mahadevan Iyer (Chief Financial Officer)
  • Mr. Gaurav Lodha (Partner, Lodha & Co LLP, Statutory Auditors)
  • CS Tubhuwneshwar B. Kaushik (Partner, DM & Associates, Secretarial Auditors)
  • CS Rachna Daga (Scrutinizer)
  • 72 members present via VC/OAVM.

Quorum:

Requisite quorum of 30 members was present at commencement and throughout the meeting.

Chairman's Speech:

Mr. Ramchandra V. Dalvi delivered the Chairman's speech due to technical issues. Key highlights included:

  • Global growth projected at 3.0% for 2026 and 3.4% for 2027; inflation at 4.7%.
  • India's nominal GDP projected at $4.15 trillion with growth rate of 6.5% to 7.6%.
  • Company's total income stood at ₹3,956 Cr (vs. ₹3,552 Cr previous year); profit after tax at ₹201 Cr (vs. ₹162 Cr).
  • Operating income increased 11.42% to ₹3,939.38 Cr; net worth increased 1.48% to ₹8,536.48 Cr.
  • Focus on operational efficiencies, value-added steel, and expansion into aerospace, defence, and power sectors.
  • Dividend recommendation based on performance.

Query Handling:

Members submitted queries via email, addressed by Mr. S. Mahadevan Iyer (CFO) and Mr. Ramchandra V. Dalvi (Director Technical).

Conclusion

The meeting concluded at 12:32 PM IST on September 25, 2026.