Meeting Details

The 41st Annual General Meeting was held on Thursday, September 24, 2026, at 4:00 p.m. IST through Video Conferencing (VC) / Other Audio-Visual Means (OAVM). The meeting was conducted in accordance with the Companies Act, 2013, and circulars issued by the Ministry of Corporate Affairs (MCA) and SEBI.

Proposed Resolutions and Implications

The AGM considered eight resolutions:

1. Adoption of audited financial statements (standalone and consolidated) for FY ended March 31, 2026, with reports of Board of Directors and Auditors

2. Declaration of dividend of ₹0.10 per equity share for FY 2025-26

3. Re-appointment of Mr. Rajesh Mandawewala (DIN: 00007179) as director retiring by rotation

4. Ratification of remuneration payable to Cost Auditors

5. Payment of commission to Mr. Balkrishan Goenka (DIN: 00270175), Non-Executive Chairman

6. Payment of remuneration to Independent Directors

7. Approval of material related party transactions with Welspun Global Brands Limited

8. Approval of material related party transactions between Welspun Global Brands Limited and Welspun USA, Inc.

Voting Process and Methods

The e-voting period remained open from Saturday, September 19, 2026, at 9:00 A.M. to Wednesday, September 23, 2026, at 5:00 P.M. Members as of the cut-off date (September 17, 2026) were entitled to vote. The scrutinizer unblocked electronic votes in the presence of two witnesses not employed by the company.

Key Voting Outcomes

Resolution 1: Adoption of Financial Statements

  • Total votes cast: 828,437,354 (87.6883% of outstanding shares)
  • Votes in favor: 828,435,974 (99.9998%)
  • Votes against: 1,380 (0.0002%)
  • Passed: Yes

Resolution 2: Dividend Declaration

  • Total votes cast: 828,592,221 (87.7047% of outstanding shares)
  • Votes in favor: 828,590,429 (99.9998%)
  • Votes against: 1,792 (0.0002%)
  • Passed: Yes

Resolution 3: Re-appointment of Director

  • Total votes cast: 828,577,908 (87.7032% of outstanding shares)
  • Votes in favor: 826,821,384 (99.7880%)
  • Votes against: 1,756,524 (0.2120%)
  • Passed: Yes

Resolution 4: Cost Auditor Remuneration

  • Total votes cast: 828,576,599 (87.7030% of outstanding shares)
  • Votes in favor: 828,570,919 (99.9993%)
  • Votes against: 5,680 (0.0007%)
  • Passed: Yes

Resolution 5: Commission to Chairman

  • Total votes cast: 825,657,048 (87.3940% of outstanding shares)
  • Votes in favor: 755,177,886 (91.4639%)
  • Votes against: 70,479,162 (8.5361%)
  • Passed: Yes

Resolution 6: Remuneration to Independent Directors

  • Total votes cast: 828,576,599 (87.7030% of outstanding shares)
  • Votes in favor: 828,570,919 (99.9993%)
  • Votes against: 5,680 (0.0007%)
  • Passed: Yes

Resolution 7: Related Party Transaction (Welspun Global Brands)

  • Total votes cast: 202,152,719 (21.3974% of outstanding shares)
  • Votes in favor: 201,166,191 (99.5120%)
  • Votes against: 986,528 (0.4880%)
  • Passed: Yes

Resolution 8: Related Party Transaction (Welspun Global Brands with Welspun USA)

  • Total votes cast: 202,152,711 (21.3974% of outstanding shares)
  • Votes in favor: 201,166,059 (99.5119%)
  • Votes against: 986,652 (0.4881%)
  • Passed: Yes

Shareholder Participation Breakdown

  • Total shareholders on record date: 204,174
  • Shareholders present through VC/OAVM: 75 (9 Promoters/Promoter Group + 66 Public)

Scrutinizer's Role and Findings

MNB & Co. LLP, Practicing Company Secretaries, was appointed as scrutinizer. They verified that:

  • All votes cast were valid
  • The e-voting data was reconciled with records maintained by the Registrar and Transfer Agents
  • The management complied with Companies Act, 2013 requirements for electronic voting
  • All resolutions passed with requisite majority

Compliance Confirmation

The document confirms compliance with SEBI Listing Regulations, Companies Act, 2013, and relevant circulars from MCA and SEBI.

Additional Information

  • Corporate Office: Welspun House, 6th Floor, Kamala City, Senapati Bapat Marg, Lower Parel (W), Mumbai 400013