Meeting Details

  • Date: Friday, 31st July 2026
  • Time: 3:30 P.M. to 5:33 P.M.
  • Location: Conducted through Video Conferencing (VC) / Other Audio Visual Means (OAVM)
  • Type: 31st Annual General Meeting
  • Chairperson: Mr. S. Annadurai, Chairman of the Company

Proposed Resolutions and Implications

The meeting addressed 17 resolutions covering ordinary and special business:

Ordinary Business (4 Resolutions)

1. Adoption of audited financial statements for year ended 31st March 2026, including reports of Board of Directors and Auditors

2. Declaration of Final Dividend for financial year ended 31st March 2026

3. Appointment of Mr. K V Nachiappan (DIN: 00017182) as Director liable to retire by rotation

4. Appointment of Mrs. Jayashree Nachiappan (DIN: 03173327) as Director liable to retire by rotation

Special Business (13 Resolutions)

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

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

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

8. Approval of remuneration payable to Ms. Aarthi Balan, relative of Director occupying office or place of profit

9. Approval of remuneration payable to Ms. Preetha Balan, relative of Director occupying office or place of profit

10. Ratification of remuneration of Cost Auditors

11. Approval for increasing borrowing powers of the Company

12. Authorization to create charge on properties of the Company, both present and future

13. Approval for increasing limit for giving loan/guarantee/security under Section 185 of Companies Act, 2013

14. Approval for increasing limit for providing loan, guarantee, security and investment under section 186 of Companies Act, 2013

15. Approval of Material Related Party Transactions with subsidiary USolar Assetco Four Private Limited

16. Approval of Material Related Party Transactions of SWELECT SolarKraft Private Limited with Gridnex Solar Power Private Limited

17. Approval of Material Related Party Transactions between Company and Gridnex Solar Power Private Limited

Voting Process and Methods

The Company provided remote electronic voting facility on CDSL's e-voting platform:

  • Remote e-voting period: 28th July 2026 (9:00 AM IST) to 30th July 2026 (5:00 PM IST)
  • Record date: 24th July 2026
  • E-voting platforms: CDSL (www.evotingindia.com) and NSDL (https://www.evoting.nsdl.com/)
  • Shareholders who did not vote remotely could vote during the meeting via e-voting
  • Those who voted remotely could not vote again during the meeting

Scrutinizer Appointment and Role

The Board of Directors appointed M/s. P. Eswaramoorthy and Company, Company Secretaries as Scrutinizer to conduct the e-voting process in a fair and transparent manner for both remote e-voting and e-voting during the AGM.

Key Meeting Proceedings

  • The Chairman confirmed requisite quorum was present
  • Key personnel introduced: Executive Directors, Non-Executive Directors, Independent Directors, Statutory Auditors (Deloitte Haskins & Sells LLP), Secretarial Auditor (KRA & Associates), Internal Auditors (S K Ram Associates), Cost Auditors (Ravichandran Bhagyalakshmi & Associates)
  • Statutory Auditors provided unmodified opinion on financial statements
  • Secretarial Audit Report had no qualification, observation or comments
  • Management presentations delivered by:
  • Mr. R. Chellappan, Whole-time Director and Vice Chairman
  • Dr. Arulkumar Pudur Shanmugasundaram, CEO & Managing Director
  • Ms. R. Nikhila, Chief Financial Officer
  • Mr. V. C. Raghunath and Ms. V. C. Mirunalini, Whole Time Directors
  • Dr. M. Ravi, Independent Director
  • 16 shareholders registered as speakers, 5 asked questions about operations and accounts
  • Questions addressed by Mr. R. Chellappan and Dr. Arulkumar Pudur Shanmugasundaram

Voting Results Disclosure

The Chairman confirmed that voting results along with scrutinizer's report would be:

  • Declared within two working days from meeting conclusion
  • Placed on company website (www.swelectes.com) and CDSL website (www.evotingindia.com)
  • Communicated to BSE Limited and National Stock Exchange of India Limited

Compliance Confirmation

The meeting was conducted in compliance with:

  • Ministry of Corporate Affairs circulars permitting VC/OAVM meetings
  • SEBI LODR Regulations, 2015
  • Companies Act, 2013 requirements
  • Notice and addendum notice circulated electronically to members with registered email addresses
  • Physical copies provided to shareholders who requested them