Meeting Details

The 31st Annual General Meeting was held on Thursday, 24th September 2026 at 11:00 A.M through Video Conferencing (VC)/Other Audio-Visual Means (OAVM) without physical presence of members, conducted pursuant to MCA circulars regarding COVID-19 precautions.

Proposed Resolutions and Implications

Five resolutions were proposed and voted upon:

Resolution 1: To receive, consider and adopt the Audited Financial Statements of the Company along with Audited Consolidated Financial Statements for the Financial Year ended 31.03.2026 together with Reports of Auditor and Board of Directors (Ordinary Resolution)

Resolution 2: To declare Dividend at the rate of 10 percent on the face value of the Equity Shares of the Company (Ordinary Resolution)

Resolution 3: To appoint a Director, in the place of Mr. Vinod R. Sethi (DIN:00106598) who retires by rotation and being eligible, offers himself for reappointment (Ordinary Resolution)

Resolution 4: Minimum Remuneration paid to Ms. Kiran Velagapudi (DIN: 00091466), Executive Director, during the Financial Year 2025-26 (Special Resolution)

Resolution 5: To approve the remuneration payable for conducting Cost Audit for the Financial Year ending 31.03.2027 to Messrs. SRR and Associates, Cost Accountants, Chennai (Ordinary Resolution)

Voting Process and Methods

The voting was conducted through:

  • Remote E-Voting via NSDL platform from Monday, September 21, 2026 (9:00 AM IST) to Wednesday, September 23, 2026 (5:00 PM IST)
  • E-Voting during the AGM for members present through VC/OAVM who had not voted remotely

Cut-off date for determining voting eligibility was Thursday, September 17, 2026.

Key Voting Outcomes

Overall Participation

  • Total outstanding shares: 113,385,050
  • Total votes cast across all resolutions: Approximately 50,295,808 (44.36% of outstanding shares)

Resolution-wise Results:

Resolution 1:

  • Total members voting: 178
  • Total votes cast: 50,295,808
  • Votes in favor: 50,295,591 (99.9996%)
  • Votes against: 217 (0.0004%)
  • RESULT: PASSED

Resolution 2:

  • Total members voting: 179
  • Total votes cast: 50,295,833
  • Votes in favor: 50,291,247 (99.9909%)
  • Votes against: 4,586 (0.0091%)
  • RESULT: PASSED

Resolution 3:

  • Total members voting: 178
  • Total votes cast: 50,295,808
  • Votes in favor: 50,284,052 (99.9766%)
  • Votes against: 11,756 (0.0234%)
  • RESULT: PASSED

Resolution 4:

  • Total members voting: 178
  • Total votes cast: 50,295,808
  • Votes in favor: 50,281,182 (99.9709%)
  • Votes against: 14,626 (0.0291%)
  • RESULT: PASSED

Resolution 5:

  • Total members voting: 178
  • Total votes cast: 50,295,808
  • Votes in favor: 50,295,082 (99.9986%)
  • Votes against: 726 (0.0014%)
  • RESULT: PASSED

Shareholder Category Breakdown

Promoter and Promoter Group:

  • Shares held: 48,311,866 (42.61% of total)
  • Votes polled: 47,909,366 (99.17% of shares held)
  • Voted 100% in favor on all resolutions where they were not interested parties

Public Institutions:

  • Shares held: 13,716 (0.01% of total)
  • No votes polled from this category

Public Non-Institutions:

  • Shares held: 65,059,468 (57.38% of total)
  • Votes polled: 2,386,442 (3.67% of shares held)
  • Voting patterns varied by resolution but generally showed high approval rates

Scrutinizer's Role and Findings

P Muthukumaran, Practising Company Secretary (COP No. 20333), partner of P Muthukumaran and Associates, was appointed as Scrutinizer. His responsibilities included:

  • Preparing scrutinizer report based on votes cast "in favour" or "against" resolutions
  • Using reports generated from NSDL E-Voting system
  • Conducting vote count in presence of two witnesses not employed by the company
  • Confirming all resolutions passed with requisite majority

The electronic data and records relating to remote e-voting/e-voting shall remain in the scrutinizer's safe custody until the chairperson approves and signs the minutes.

Compliance Confirmation

The meeting was conducted in compliance with:

  • Section 108 of the Companies Act, 2013
  • Rule 20 & 21 of the Companies (Management and Administration) Rules, 2014
  • Regulation 44 of SEBI (LODR) Regulations, 2015
  • MCA Circulars regarding COVID-19 measures for conducting meetings