Key Dates

  • AGM Date: Thursday, July 23, 2026
  • AGM Time: 11:00 A.M.
  • Record Date (Cut-off date): Friday, July 17, 2026
  • Remote e-Voting Period: Begins Monday, July 20, 2026 (09:00 A.M.) and ends Wednesday, July 22, 2026 (05:00 P.M.)

Meeting Logistics

The 16th AGM will be held at the company's registered office at 392, E Ward, Shahupuri, Kolhapur-416001, through Video Conferencing (VC)/ Other Audio-Visual Means (OAVM), in compliance with MCA and SEBI circulars.

Agenda Items

Ordinary Business:

1. To consider and adopt the Standalone and Consolidated Audited Financial Statements for the Financial Year ended March 31, 2026, together with the Board's Report and the Auditors' Report.

2. To appoint a director in place of Mr. Niraj S. Shirgaokar (DIN:00254525), who retires by rotation and is eligible for re-appointment.

3. To declare a Dividend on 10% Redeemable Cumulative Preference shares for the financial year ended March 31, 2026. (Dividend amount per share not specified).

4. To appoint M/s P. G. Bhagwat LLP, Chartered Accountants (FRN:101118W/ W100682), as the Statutory Auditors for a period of 5 years, from the conclusion of this AGM until the AGM for the year 2031, replacing the retiring auditors M/s. D A B And Associates, Chartered Accountants. Remuneration is to be mutually agreed upon between the Board and the auditors.

Special Business:

5. Continuation of Independent Director: To approve, via special resolution, the continuation of Mr. Subhash G. Kutte (DIN:00233322) as an Independent Director. He will attain the age of 75 years but is proposed to continue in his role until the end of his current tenure on January 07, 2029, as per Regulation 17(1A) of SEBI LODR.

6. Increase in Borrowing Limits: To approve, via special resolution, an increase in the company's borrowing limits under Sections 180(1)(c) and 180(1)(a) of the Companies Act, 2013. The new limit sought is ₹250.00 Crores, increased from the previous limit of ₹200.00 Crores. The resolution also seeks authorization to create mortgages/charges on the company's properties to secure these borrowings.

7. Ratification of Cost Auditor Remuneration: To ratify, via ordinary resolution, the remuneration payable to the Cost Auditor, M/s. Dhananjay V. Joshi & Associates, Cost Accountants (Firm Registration No.000030), for the financial year 2026-27. The ratified fee is ₹2,50,000/- (Rupees Two Lakh Fifty Thousand Only), plus applicable taxes and actual out-of-pocket expenses.

8. Acceptance of Deposits from Members: To authorize, via ordinary resolution, the company to accept/renew unsecured deposits from its members under Section 73 of the Companies Act, 2013, within the prescribed limits and the overall borrowing limits. The purpose is to fund the company's expansion project and augment long-term working capital needs.

Voting Instructions

The notice provides extensive instructions for shareholders to vote remotely via the NSDL e-Voting system or to vote during the AGM. The user ID for voting is based on whether shares are held in demat (with NSDL or CDSL) or physical form.

Explanatory Statements

  • Item 5 (Mr. Subhash G. Kutte): His initial appointment was on January 9, 2019, and he was re-appointed for a second term from January 8, 2024, to January 7, 2029. He is the Chairman of the Audit Committee and a member of other committees. The Board recommends his continuation due to his expertise in banking and finance.
  • Item 6 (Borrowing Limit): The increase from ₹200 Cr to ₹250 Cr is for capital expenditure in FY 2026-27 in areas such as additional space, material handling, production ramp-up, and safety equipment.
  • Item 7 (Cost Auditor Remuneration): The remuneration was recommended by the Audit Committee and approved by the Board in its meeting held on February 11, 2026.
  • Item 8 (Deposits from Members): The Board approved this in its meeting on May 19, 2026, to fund expansion and working capital.

Financial Impact

  • The appointment of statutory auditors and ratification of cost auditor remuneration have direct financial implications on audit fees.
  • The increase in borrowing limits to ₹250 Crores signifies a potential future cash inflow and liability.
  • The declaration of a dividend on preference shares constitutes a cash outflow. The amount is not quantified in the notice.
  • Acceptance of deposits from members is a mechanism for fundraising.

Governance and Compliance

The document is a standard notice for an AGM, prepared in compliance with the Companies Act, 2013, and SEBI LODR Regulations. It includes all requisite explanatory statements and disclosures for the proposed resolutions.