Meeting Details

  • Date: Monday, August 3, 2026
  • Time: 3:30 p.m. (IST)
  • Location: Conducted through Video Conferencing (VC)/Other Audio Visual Means (OAVM)
  • Type: 93rd Annual General Meeting
  • Deemed Venue: Registered Office at GAT No. 152, Lakhmapur, Taluka Dindori, Nashik-422202, Maharashtra

Proposed Resolutions and Implications

Ordinary Business

1. Adoption of Financial Statements: To receive, consider and adopt the Audited Standalone and Consolidated Financial Statements for the financial year ended March 31, 2026, together with reports of the Board of Directors and Auditors.

2. Declaration of Final Dividend: To declare a Final Dividend of Re. 1/- per equity share (face value Rs. 10/- each) for FY 2025-26. Record Date fixed as Monday, July 27, 2026. Dividend payment scheduled by September 1, 2026, subject to TDS deduction.

3. Re-appointment of Director: Appointment of Ms. Padmini Sekhsaria (DIN: 00046486) as Director liable to retire by rotation.

4. Appointment of Statutory Auditors: Appointment of M/s. Price Waterhouse Chartered Accountants LLP (Firm Registration Number: 012754N/N500016) as Statutory Auditors for a first term of five consecutive years from conclusion of 93rd AGM till conclusion of 98th AGM. Proposed remuneration of Rs. 57 lakhs for FY 2026-27 for statutory audit and quarterly limited reviews.

Special Business

5. Remuneration to Mr. Anant Talaulicar: Approval for payment of Rs. 40,00,000/- to Mr. Anant Talaulicar (Non-Executive Independent Chairman) for FY 2025-26, notwithstanding absence of profits.

6. Remuneration to Mr. Rajendra Chitale: Approval for payment of Rs. 6,50,000/- to Mr. Rajendra Chitale (Non-Executive Independent Director) for FY 2025-26.

7. Remuneration to Mr. Alok Nanda: Approval for payment of Rs. 3,50,000/- to Mr. Alok Nanda (Non-Executive Independent Director) for FY 2025-26.

8. Remuneration to Mr. Ashok Kumar Barat: Approval for payment of Rs. 5,50,000/- to Mr. Ashok Kumar Barat (Non-Executive Independent Director) for FY 2025-26.

9. Remuneration to Ms. Bijal Ajinkya: Approval for payment of Rs. 3,50,000/- to Ms. Bijal Ajinkya (Non-Executive Independent Director) for FY 2025-26.

10. Commission to Non-Executive Directors: Approval for payment of commission to Non-Executive Directors not exceeding 5% of net profits for five consecutive financial years from FY 2026-27 to FY 2030-31.

11. Commission to Mr. Anant Talaulicar: Approval for payment of commission up to Rs. 2,00,00,000/- to Mr. Anant Talaulicar for FY 2026-27, subject to limit of 4% of net profits.

12. Ratification of Cost Auditors Remuneration: Ratification of remuneration of Rs. 5,50,000/- plus applicable taxes to M/s. R. Nanabhoy & Co., Cost Accountants (Firm Registration Number: 000010) for FY ending March 31, 2027.

Voting Process and Methods

  • Remote e-voting: Provided through NSDL e-voting platform
  • Voting period: Commences Thursday, July 30, 2026 (9:00 a.m. IST) and ends Sunday, August 2, 2026 (5:00 p.m. IST)
  • Cut-off date: Monday, July 27, 2026 for determining voting rights
  • E-voting during AGM: Available for members attending through VC/OAVM who haven't voted remotely
  • Scrutinizer: Ms. Jigyasa N. Ved, Practicing Company Secretary (Membership No. FCS 6488) of Parikh & Associates appointed to scrutinize electronic voting process
  • EVEN: 139980

Key Voting Outcomes and Participation

  • Results to be declared along with Scrutinizer's Report within 2 working days from conclusion of AGM
  • Results will be placed on company website (www.everestind.com) and NSDL website (www.evoting.nsdl.com)
  • Simultaneously forwarded to BSE and NSE where company shares are listed

Financial Performance Context

The document discloses challenging financial performance for FY 2025-26:

  • Standalone Total Income: Rs. 1375.93 crores (down 20% from previous year)
  • Standalone Loss Before Tax: Rs. (111.05) crores
  • Standalone Loss After Tax: Rs. (100.17) crores
  • Consolidated Total Income: Rs. 1428.42 crores (down 18% from previous year)
  • Consolidated Loss After Tax: Rs. (101.69) crores
  • Exceptional items impacted results by Rs. 42 crores

Compliance with Laws and Regulations

The notice confirms compliance with:

  • Companies Act, 2013
  • SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • MCA General Circular No. 03/2025 dated September 22, 2025
  • Secretarial Standard 2 on General Meetings issued by ICSI
  • Income Tax Act, 2025 provisions for dividend taxation

Signatories and Roles

  • Company Secretary & Compliance Officer: Amruta Avasare (Membership No.: A18844)
  • Scrutinizer: Ms. Jigyasa N. Ved, Practicing Company Secretary (Membership No. FCS 6488) of Parikh & Associates
  • Nodal Officer for IEPF: Ms. Amruta Avasare, Company Secretary

Additional Information

The document includes comprehensive information on:

  • Dividend payment procedures and TDS provisions
  • KYC compliance requirements for physical shareholders
  • Special window for re-lodgement of transfer requests (February 5, 2026 to February 4, 2027)
  • Dispute resolution mechanisms including SMART ODR Portal
  • Detailed instructions for remote e-voting and AGM attendance
  • Explanatory statements for all special business items
  • Annexures with director information and taxability of dividends