Meeting Details

The 31st Annual General Meeting was held on Friday, July 17, 2026 at 4:00 p.m. (IST) through video conferencing/other audio-visual means. The meeting was deemed to be held at the company's registered office at Welspun City, Village Versamedi, Taluka Anjar, Dist. Kutch, Gujarat – 370110.

Proposed Resolutions and Implications

The AGM considered six resolutions:

1. Ordinary Resolution: Adoption of Audited Standalone Financial Statements for FY ended March 31, 2026 and Reports of Board of Directors and Auditors

2. Ordinary Resolution: Re-appointment of Mr. Vipul Mathur as Director (DIN: 00036148)

3. Ordinary Resolution: Declaration of Dividend on Equity Shares

4. Ordinary Resolution: Retirement by rotation of Mr. Aneesh Misra (DIN: 10221598)

5. Ordinary Resolution: Ratification of remuneration of Cost Auditor for FY 2026-27

6. Special Resolution: Payment of remuneration by way of commission to Mr. Balkrishan Goenka (DIN: 00270175), Non-Executive Chairman

Voting Process and Methods

The company provided remote e-voting facility through NSDL from Monday, July 13, 2026 (9:00 a.m. IST) to Thursday, July 16, 2026 (5:00 p.m. IST). E-voting facility was also available during the AGM for members who did not cast votes through remote e-voting. The cut-off date for determining voting rights was Friday, July 10, 2026.

Key Voting Outcomes

Overall Participation

  • Total shareholders as on cut-off date: 144,849
  • Total votes cast: 204,150,099 shares (77.391% of outstanding shares)
  • 7 Promoter/Promoter Group shareholders and 48 Public shareholders attended the meeting through video conferencing

Resolution-wise Results:

Resolution 1 (Ordinary - Adoption of Financial Statements)

  • Total votes in favor: 203,970,123 (99.9762%)
  • Votes against: 48,478 (0.0238%)
  • Promoter group: 131,186,954 votes in favor (100%)
  • Public institutions: 70,533,363 in favor (99.9323%), 47,757 against (0.0677%)
  • Public non-institutions: 2,249,806 in favor (99.9680%), 721 against (0.0320%)

Resolution 3 (Ordinary - Dividend Declaration)

  • Total votes in favor: 204,235,013 (99.9996%)
  • Votes against: 721 (0.0004%)
  • Unanimous approval from promoter group and public institutions
  • Public non-institutions: 2,249,858 in favor (99.9680%), 721 against (0.0320%)

Resolution 4 (Ordinary - Retirement of Aneesh Misra)

  • Total votes in favor: 158,325,505 (77.5535%)
  • Votes against: 45,824,594 (22.4465%)
  • Promoter group: 131,186,954 in favor (100%)
  • Public institutions: 24,993,460 in favor (35.3451%), 45,719,158 against (64.6549%)
  • Public non-institutions: 2,145,091 in favor (95.3151%), 105,436 against (4.6849%)

Resolution 5 (Ordinary - Cost Auditor Remuneration)

  • Total votes in favor: 204,149,161 (100.0000%)
  • Votes against: 938 (Negligible)
  • Nearly unanimous approval across all categories

Resolution 6 (Special - Commission to Balkrishan Goenka)

  • Total votes in favor: 175,046,702 (85.7441%)
  • Votes against: 29,103,397 (14.2559%)
  • Promoter group: 131,186,954 in favor (100%)
  • Public institutions: 41,715,169 in favor (58.9925%), 28,997,449 against (41.0075%)
  • Public non-institutions: 2,144,579 in favor (95.2923%), 105,948 against (4.7077%)

Scrutinizer's Role and Findings

Mr. Jigar Shah, Designated Partner of M/s. JMJA & Associates LLP, Company Secretaries, was appointed as Scrutinizer. The scrutinizer unblocked the voting results using his login on NSDL platform in the presence of two witnesses (Mr. Ronit Mestry and Ms. Naina Jaiswal) who are not employees of the company. The scrutinizer confirmed that all resolutions were passed with requisite majority.

Compliance Confirmation

The company confirmed compliance with the Companies Act, 2013, SEBI Listing Regulations, and relevant MCA circulars (General Circular No. 20/2020 and General Circular No. 03/2025). The notice was dispatched to members via email on June 22, 2026, and advertisements were published in Financial Express (English) and Kutch Mitra and Kutch Uday (Gujarati) on June 24, 2026.