Meeting Details

  • Date: Wednesday, 16th September 2026
  • Time: Commenced at 4:00 PM IST and concluded at 5:05 PM IST
  • Location: Conducted through video conferencing from the Registered Office at 234/3A, A. J. C. Bose Road, FMC Fortuna, 2nd Floor, Kolkata – 700020, West Bengal
  • Type: 50th Annual General Meeting

Proposed Resolutions and Implications

The AGM considered nine resolutions covering ordinary and special business:

Ordinary Business (Ordinary Resolutions):

1. Adoption of Standalone Audited Financial Statements for FY ended 31st March 2026

2. Adoption of Consolidated Audited Financial Statements for FY ended 31st March 2026

3. Approval and confirmation of Interim Dividend of ₹3.50 (350%) per equity share as Final Dividend for FY 2025-26

4. Re-appointment of Mr. Praveen Gupta (DIN: 09651564) as Director retiring by rotation

Special Business (Special Resolutions):

5. Re-appointment of Mr. Vivek Saraogi (DIN: 00221419) as Chairman and Managing Director for five years from 1st April 2027 to 31st March 2032

6. Re-appointment of Ms. Avantika Saraogi (DIN: 03149784) as Whole-time Director designated as Executive Director for five years from 1st January 2027 to 31st December 2031

8. Appointment of Ms. Vartika Shukla (DIN: 08777885) as Independent Director for five years from 11th August 2026 to 10th August 2031

Special Business (Ordinary Resolutions):

7. Ratification of remuneration of M/s. Mani & Co. (Firm Registration No.: 000004) as Cost Auditors at ₹4,80,000 plus applicable taxes

9. Approval for Acceptance of Grant Assistance from Biotechnology Industry Research Assistance Council (BIRAC) not exceeding ₹75 crore (₹7500 lakhs) for a "~100 t/a PLA Co-Polymer R&D Facility" with total project cost of ₹10975 lakhs

Voting Process and Methods

The voting was conducted through:

  • Remote e-voting: Available from 13th September 2026 (10:00 AM IST) to 15th September 2026 (5:00 PM IST) through KFin Technologies Limited
  • E-voting during AGM: Available for members who hadn't voted remotely, open until 15 minutes after meeting conclusion
  • Cut-off date for voting rights: 9th September 2026
  • Scrutinizer: CS Amber Ahmad of Amber Ahmad & Associates, Company Secretaries (Membership No.: FCS-9312, C.P. No. 8581)

Key Voting Outcomes

Total Votes Cast: 170,373,895 votes across 425 shareholders (including vote splitting)

Item-wise Results:

  • Item 1 (Standalone Financials): 99.9996% in favor (170,296,944 votes), 0.0004% against (661 votes)
  • Item 2 (Consolidated Financials): 99.9996% in favor (170,296,944 votes), 0.0004% against (661 votes)
  • Item 3 (Dividend): 99.9976% in favor (170,369,781 votes), 0.0024% against (4,114 votes)
  • Item 4 (Praveen Gupta Re-appointment): 99.9655% in favor (170,315,161 votes), 0.0345% against (58,734 votes)
  • Item 5 (Vivek Saraogi Re-appointment): 99.1801% in favor (168,977,000 votes), 0.8199% against (1,396,895 votes)
  • Item 7 (Cost Auditor Remuneration): 99.9995% in favor (170,373,039 votes), 0.0005% against (856 votes)
  • Item 8 (Vartika Shukla Appointment): 99.9996% in favor (170,373,138 votes), 0.0004% against (757 votes)
  • Item 9 (BIRAC Grant): 99.9996% in favor (170,373,216 votes), 0.0004% against (679 votes)

Scrutinizer's Role and Findings

CS Amber Ahmad was appointed to scrutinize the voting process in a fair and transparent manner. She submitted her Consolidated Report on remote e-voting and e-voting during the AGM dated 17th September 2026 to the Chairman. The results were announced at the Registered Office on 17th September 2026 and displayed on the notice board.

Compliance Confirmation

The document confirms compliance with:

  • Companies Act, 2013 and Rules made thereunder
  • SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • MCA Circulars No. 14/2020, 17/2020, 20/2020, and 03/2025
  • Revised Secretarial Standard on General Meetings (SS-2)

Additional Information

The Chairman highlighted E20 concerns, firming sugar prices, future outlook of sugar and ethanol industry, and progress of the Polylactic Acid (PLA) project. Nine members participated with queries and comments during the meeting. The BIRAC grant agreement requires repayment of fixed royalty (not less than 5% per year of the Grant) within five years after a two-year relaxation period.