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

TeamLease Services Limited

Meeting Details

The Twenty Sixth Annual General Meeting of TeamLease Services Limited was held on September 18, 2026, at 03:00 P.M. IST through Video Conferencing/Other Audio Visual Means facility. The meeting was deemed to be conducted at the Registered Office of the Company at TeamLease Services Limited, Infinix Square, B-4, B-5, B-6, HAL Industrial Estate, HAL GB Quarters, Vibhutipura, Bengaluru - 560037, Karnataka, India. The meeting commenced at 03:00 P.M. and concluded at 04:07 P.M.

Proposed Resolutions and Implications

The AGM transacted four ordinary business resolutions:

1. To receive, consider and adopt Audited Standalone Financial Statements along with the Auditor's Report for the Financial Year ended March 31, 2026

2. To receive, consider and adopt Audited Consolidated Financial Statements along with the Auditor's Report for the Financial Year ended March 31, 2026

3. To receive, consider and adopt the Report of the Board of Directors for the Financial Year ended March 31, 2026

4. To appoint a Director in place of Mr. Manish Sabharwal (DIN: 00969601) who retires by rotation and being eligible, offers himself for re-appointment

All resolutions were passed with requisite majority.

Voting Process and Methods

The Company provided two modes of voting:

1. Remote e-voting: The window was open from Tuesday, September 15, 2026, at 9:00 A.M. IST to Thursday, September 17, 2026, at 5:00 P.M. IST

2. E-voting during the AGM: For shareholders who had not voted during the remote e-voting period

The voting rights were reckoned as on Friday, September 11, 2026 (cut-off date). The facility was provided by KFin Technologies Limited, Registrars and Transfer Agent of the Company.

Key Voting Outcomes

Overall Participation:

  • Total shares outstanding: 15,281,400
  • Total votes polled: 12,151,919 shares (79.5210% of outstanding shares)
  • Total shareholders on record date: 29,312
  • Shareholders present at meeting: 40 shareholders holding 5,199,211 shares (including 5 authorized representatives)

Resolution-wise Results:

Resolution 1 - Adoption of Standalone Financial Statements:

  • Votes in favor: 12,151,906 shares (99.9999% of votes polled)
  • Votes against: 13 shares (0.0001% of votes polled)
  • Invalid votes: 0
  • Abstained votes: 0

Resolution 2 - Adoption of Consolidated Financial Statements:

  • Votes in favor: 12,151,906 shares (99.9999% of votes polled)
  • Votes against: 13 shares (0.0001% of votes polled)
  • Invalid votes: 0
  • Abstained votes: 0

Resolution 3 - Adoption of Board Report:

  • Votes in favor: 12,151,906 shares (99.9999% of votes polled)
  • Votes against: 13 shares (0.0001% of votes polled)
  • Invalid votes: 0
  • Abstained votes: 0

Resolution 4 - Re-appointment of Mr. Manish Sabharwal:

  • Votes in favor: 12,148,311 shares (99.9703% of votes polled)
  • Votes against: 3,608 shares (0.0297% of votes polled)
  • Invalid votes: 0
  • Abstained votes: 0

Category-wise Voting Breakdown:

Promoter and Promoter Group (5,087,402 shares):

  • 100% participation with 100% votes in favor for all resolutions

Public Institutions (7,920,776 shares):

  • 88.3078% participation with 100% votes in favor for resolutions 1-3
  • 99.9486% votes in favor for resolution 4 (0.0514% against)

Public Non-Institutions (2,273,222 shares):

  • 3.0729% participation with 99.9814% votes in favor for resolutions 1-3
  • 99.9814% votes in favor for resolution 4 (0.0186% against)

Scrutinizer's Role and Findings

Mr. Mukesh Siroya, Practicing Company Secretary of M Siroya and Company, was appointed as Scrutinizer to scrutinize the remote e-voting process and e-voting during the AGM. The scrutinizer submitted a consolidated report confirming:

  • Remote e-voting period: September 15, 2026 (9:00 AM) to September 17, 2026 (5:00 PM)
  • Votes were unblocked on September 18, 2026, at 4:07 PM in the presence of two witnesses
  • All resolutions passed with requisite majority
  • Electronic data and relevant records will be preserved with the Company Secretary

Compliance Confirmation

The proceedings confirm compliance with:

  • Section 108 of the Companies Act, 2013
  • Rule 20 of the Companies (Management and Administration) Rules, 2014
  • Regulation 44 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015
  • MCA and SEBI circulars for conducting AGM through video conferencing

Additional Financial and Operational Information

During the meeting, management shared key financial highlights for FY 2025-26:

  • Total revenue: ₹11,859 Crores (up nearly 6%)
  • Profit Before Tax (PBT): up 36%
  • Profit After Tax (PAT) before exceptional items: ₹147.1 Crores (up nearly 33%)
  • Earnings per share increased by 28% to ₹83
  • Healthy cash position of approximately ₹600 crore
  • Completed buyback of up to 25% of free reserves representing 8.87% of equity share capital (₹238 Crore)

The company added approximately 120 new client logos across sectors and made gross addition of ~300k associates/trainees with a net loss of 6k associates/trainees in FY2026.