Meeting Details

The 59th Annual General Meeting (AGM) of V.I.P. Industries Limited was held on Friday, August 21, 2026, at 02:30 p.m. IST through Video Conferencing (VC) / Other Audio Visual Means (OAVM). The meeting was conducted in compliance with circulars issued by the Ministry of Corporate Affairs (MCA) and Securities and Exchange Board of India (SEBI), and provisions of the Companies Act, 2013.

Attendance

Directors Present:

  • Ms. Renuka Ramnath - Chairperson, Non-Executive, Non-Independent Director
  • Mr. Sridhar Sankararaman - Non-Executive, Non-Independent Director
  • Ms. Shalini D. Piramal - Non-Executive, Non-Independent Director
  • Mr. Atul Jain - Managing Director
  • Dr. Suresh Surana - Non-Executive, Independent Director, Chairman of Audit Committee
  • Mr. Rajendra Agarwal - Non-Executive, Independent Director, Chairman of Nomination & Remuneration Committee
  • Mr. Sanjay Mahesh Rastogi - Non-Executive, Independent Director, Chairman of Stakeholders Relationship Committee
  • Ms. Vaishali Shrikant Bhat - Non-Executive, Independent Director

Other Representatives Present:

  • Mr. Rahul Poddar - Chief Financial Officer (Up to August 31, 2026)
  • Mr. Narayan Saraf - Chief Financial Officer (From September 1, 2026)
  • Ms. Shalaka Koparkar - Company Secretary & Head - Legal
  • Ms. Alpa Kedia - Partner, Price Waterhouse Chartered Accountants LLP, Statutory Auditors
  • Mr. Pankaj Chandak - Representative of Price Waterhouse Chartered Accountants LLP, Statutory Auditors
  • Ms. Ragini Chokshi - Secretarial Auditor & Scrutinizer

69 members attended the meeting virtually, in person, or through authorized representatives. The requisite quorum under Section 103 of the Companies Act, 2013 was present throughout the meeting.

Business Transacted

The following items of business were put to vote by Remote e-Voting and e-Voting at the meeting:

Ordinary Business:

1. Adoption of (a) Audited Standalone Financial Statements for FY 2025-26 with Reports of Board of Directors and Auditors, and (b) Audited Consolidated Financial Statements for FY 2025-26 with Report of Auditors - Ordinary Resolution

2. Appointment of Mr. Sridhar Sankararaman (DIN: 06794418) as Non-Executive, Non-Independent Director, who retires by rotation and seeks re-appointment - Ordinary Resolution

3. Appointment of M/s. Deloitte Haskins & Sells Chartered Accountants LLP (Firm Registration No: 117364W/W100739) as Statutory Auditors of the Company - Ordinary Resolution

Special Business:

4. Approval for waiver of recovery of excess managerial remuneration paid to Ms. Radhika Piramal, Former Executive Director for FY 2025-26 (Up to September 23, 2025) - Special Resolution

5. Approval for waiver of recovery of excess managerial remuneration paid to Ms. Neetu Kashiramka, Former Managing Director for FY 2025-26 (Up to September 23, 2025) - Special Resolution

6. Approval for waiver of recovery of excess managerial remuneration paid to Mr. Ashish Saha, Former Executive Director for FY 2025-26 (Up to September 23, 2025) - Special Resolution

7. Appointment of Ms. Vaishali Shrikant Bhat (DIN: 11385751) as Non-Executive, Independent Director of the Company - Special Resolution

8. Appointment of Mr. Sanjay Mahesh Rastogi (DIN: 08376572) as Non-Executive, Independent Director of the Company - Special Resolution

Meeting Proceedings

Ms. Renuka Ramnath chaired the meeting. The Chairperson informed members about the VC format and introduced attending directors. Statutory Registers under the Act and other relevant documents were available for electronic inspection by members.

The Chairperson made opening remarks briefing members on transition, business opportunity, and forward priorities. Mr. Atul Jain, Managing Director, updated members on the Company's performance during FY 2025-26 and growth plans.

Ms. Shalaka Koparkar informed that since the Auditor's Report on Financial Statements (Standalone and Consolidated) for FY ended March 31, 2026, had no qualifications, reservations, observations, adverse remarks or disclaimer, reading was not required. With member consent, the AGM Notice along with text of resolutions and explanatory statements were taken as read.

The Company engaged National Securities Depository Limited (NSDL) for electronic dispatch of AGM Notice with Annual Report, hosting the AGM through VC facility, and providing remote e-voting and e-voting facility. M/s. Ragini Chokshi & Co., Practicing Company Secretary was appointed as Scrutinizer.

Members registered as speakers asked questions and sought clarifications, which were responded to by the Managing Director and Chief Financial Officer.

Voting and Results

The voting on the NSDL platform remained available for 15 minutes after the meeting conclusion. Results of remote e-voting along with e-voting at the AGM will be placed on the Company's website (www.vipindustries.co.in) and websites of National Stock Exchange of India Ltd., BSE Ltd., and NSDL within 2 working days from meeting conclusion.

All resolutions set forth in the 59th AGM notice are deemed to be passed on August 21, 2026, subject to receipt of requisite majority.

The meeting concluded at 03:54 p.m.