Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Meeting Details

  • Date of Meeting: July 31, 2026
  • Type of Meeting: 31st Annual General Meeting (AGM)
  • Location: Conducted through Video Conferencing (VC) facility or Other Audio-Visual Means (OAVM)
  • Meeting Start Time: 3:30 PM IST
  • Meeting End Time: 5:33 PM IST

Voting Process and Methods

  • Remote e-voting period: July 28, 2026 (9:00 AM) to July 30, 2026 (5:00 PM)
  • E-voting during AGM: Available for members who attended through VC/OAVM and had not cast votes through remote e-voting
  • Scrutinizer: P. Eswaramoorthy of P. Eswaramoorthy and Company, Company Secretaries
  • Voting System Provider: Central Depository Services (India) Limited (CDSL)
  • Cut-off date for voting eligibility: July 24, 2026
  • Total eligible shareholders: 27,896

Resolution Summary and Voting Outcomes

All 17 resolutions were passed with requisite majority:

Ordinary Business

Item 1: Adoption of audited financial statements for FY ended March 31, 2026

  • Votes in favor: 95,64,752 (99.9906%)
  • Votes against: 902 (0.0094%)
  • Members voted: 102

Item 2: Declaration of Final Dividend for FY 2025-26

  • Votes in favor: 95,64,752 (99.9906%)
  • Votes against: 902 (0.0094%)
  • Members voted: 102

Item 3: Appointment of Mr. K V Nachiappan (DIN: 00017182) as Director

  • Votes in favor: 95,64,751 (99.9906%)
  • Votes against: 903 (0.0094%)
  • Members voted: 101

Item 4: Appointment of Mrs. Jayashree Nachiappan (DIN: 03173327) as Director

  • Votes in favor: 95,64,751 (99.9906%)
  • Votes against: 903 (0.0094%)
  • Members voted: 101

Special Business

Item 5: Approval of remuneration of Mr. K V Nachiappan, Whole Time Director

  • Votes in favor: 95,64,750 (99.9905%)
  • Votes against: 904 (0.0095%)
  • Members voted: 100

Item 6: Revision of remuneration of Mr. V C Raghunath (DIN: 00703922), Whole Time Director

  • Votes in favor: 95,64,739 (99.9904%)
  • Votes against: 915 (0.0096%)
  • Members voted: 98

Item 7: Revision of remuneration of Ms. V C Mirunalini (DIN: 07860175), Whole Time Director

  • Votes in favor: 95,64,739 (99.9904%)
  • Votes against: 915 (0.0096%)
  • Members voted: 98

Item 8: Approval of remuneration payable to Ms. Aarthi Balan (relative of director)

  • Votes in favor: 90,23,114 (99.9201%)
  • Votes against: 7,212 (0.0799%)
  • Members voted: 89

Item 9: Approval of remuneration payable to Ms. Preetha Balan (relative of director)

  • Votes in favor: 90,23,114 (99.9201%)
  • Votes against: 7,212 (0.0799%)
  • Members voted: 89

Item 10: Ratification of remuneration of Cost Auditors

  • Votes in favor: 95,64,749 (99.9905%)
  • Votes against: 905 (0.0095%)
  • Members voted: 99

Item 11: Approval for increasing borrowing powers of the Company

  • Votes in favor: 95,64,750 (99.9905%)
  • Votes against: 904 (0.0095%)
  • Members voted: 100

Item 12: Authorization to create charge on properties

  • Votes in favor: 95,64,751 (99.9906%)
  • Votes against: 903 (0.0094%)
  • Members voted: 101

Item 13: Increasing limit for loans/guarantees under Section 185

  • Votes in favor: 95,60,243 (99.9434%)
  • Votes against: 5,411 (0.0566%)
  • Members voted: 96

Item 14: Increasing limit for loans/guarantees under Section 186

  • Votes in favor: 95,60,242 (99.9434%)
  • Votes against: 5,412 (0.0566%)
  • Members voted: 95

Item 15: Approval of Material RPT with USolar Assetco Four Private Limited

  • Votes in favor: 10,11,423 (99.9109%)
  • Votes against: 902 (0.0891%)
  • Members voted: 77

Item 16: Approval of Material RPT of SWELECT SolarKraft with Gridnex Solar Power

  • Votes in favor: 10,11,423 (99.9109%)
  • Votes against: 902 (0.0891%)
  • Members voted: 77

Item 17: Approval of Material RPT between Company and Gridnex Solar Power

  • Votes in favor: 10,11,422 (99.9108%)
  • Votes against: 903 (0.0892%)
  • Members voted: 76

Shareholder Participation Breakdown

Promoter & Promoter Group:

  • Total shares: 85,44,318
  • Votes cast: 85,44,318 (100% participation)
  • All votes in favor of all resolutions (100%)

Public Institutions:

  • Total shares: 66,075
  • Votes cast: 64,96 (98.31% participation)
  • All votes in favor of all resolutions (100%)

Public Non-Institutions:

  • Total shares: 64,83,657
  • Votes cast: 10,14,840 (15.4976% participation)
  • High approval rates (99.91% - 99.99% across resolutions)

Scrutinizer's Role and Findings

P. Eswaramoorthy was appointed as scrutinizer to scrutinize the remote e-voting process and e-voting during AGM. Key findings:

  • Voting process conducted in fair and transparent manner
  • CDSL electronic voting system properly configured to prevent duplicate voting
  • All voting data downloaded from https://www.evotingindia.com
  • Electronic data and records remain in scrutinizer's safe custody until minutes approval
  • No invalid votes recorded for any resolution

Compliance Confirmation

The voting process complied with:

  • Section 108 of Companies Act, 2013
  • Rule 20 of Companies (Management and Administration) Rules, 2014
  • Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • Various MCA General Circulars (14/2020, 17/2020, 20/2020, 02/2021, 19/2021, 21/2021, 02/2022, 10/2022, 09/2023, 09/2024, 03/2025)
  • SEBI Circular No. SEBI/HO/CFD/CFD-PoD2/P/CIR/2024/133 dated October 3, 2024

Additional Information

  • For Items 8, 9 and 15-17, shareholders not entitled to vote were identified and excluded as per Companies Act and SEBI LODR
  • Scrutinizer's firm details: 44 & 44/1, 5th Street, Ramalinga Jothi Nagar, Coimbatore - 641045
  • Scrutinizer's FCS No: 6510, COP: 7069, P/R No: 6974/2025, UDIN: F006510H001002692