Meeting Details
The 40th Annual General Meeting was held on Wednesday, September 30, 2026, commencing at 3:30 p.m. IST and concluding at 4:15 p.m. IST. The meeting was conducted through Video Conferencing / Other Audio-Visual Means (VC/OAVM), with the Registered Office of the Company deemed to be the venue. The meeting included a 15-minute window for e-voting after the conclusion of the proceedings.
Attendance and Quorum
A total of 35 Members attended the meeting through VC/OAVM, satisfying the requisite quorum under Section 103 of the Companies Act, 2013. The office of Chairman of the Board was vacant following Dr. Satyam Cherukuri's cessation as Chairman and Director effective April 7, 2026. The Directors present elected Mr. Vijay Mallya, Independent Director, as Chairman of the Meeting, with the proposal moved by Dr. P. Raja Mohan Rao and seconded by Mr. Syed Ahmed Sultan.
Directors and Invitees Present:
- Mr. Vijay Mallya (Independent Director; Chairman of Audit Committee; Chairman of Meeting)
- Dr. P. Raja Mohan Rao (Non-Executive Director)
- Mr. Ishwar Halalli (Independent Director; Chairperson of Stakeholders' Relationship Committee)
- Mr. Syed Ahmed Sultan (Independent Director; Chairperson of CSR Committee)
- Mr. Narendra Bhandari (Independent Director)
- Mr. Amin Bhojani (Chief Financial Officer)
- Mr. Anmol Chaturvedi (Company Secretary & Compliance Officer)
- CA Bipul Rohatgi (Representative of M/s. V. Rohatgi & Co., Statutory Auditors)
- Mr. Anmol Jha (Practising Company Secretary; Secretarial Auditor and Scrutinizer)
Directors Absent:
- Ms. Bhavana Rao (Vice Chairperson & Executive Director)
- Mr. R. Ganapathi (Non-Executive Director)
- Ms. Lakshmi Potluri (Independent Director)
Business Transacted and Resolutions
The following resolutions were placed before members for approval:
Ordinary Business:
1. To receive, consider and adopt: (a) Audited Standalone Financial Statements for FY ended March 31, 2026 with Reports of Board of Directors and Statutory Auditors; (b) Audited Consolidated Financial Statements for FY ended March 31, 2026 with Report of Statutory Auditors.
2. To appoint Dr. P. Raja Mohan Rao (DIN: 00157346) who retires by rotation and offers himself for re-appointment.
Special Business:
3. To appoint Mr. Narendra Bhandari (DIN: 07501370) as Independent Director for a five-year term from August 11, 2026 to August 10, 2031.
Voting Process
The Company provided remote e-voting facility through National Securities Depository Limited (NSDL) from Sunday, September 27, 2026 (9:00 a.m. IST) to Tuesday, September 29, 2026 (5:00 p.m. IST) for members holding shares as of the cut-off date Saturday, September 19, 2026. E-voting was also made available during the meeting for members who had not cast votes through remote e-voting. Mr. Anmol Jha, Practising Company Secretary, was appointed as Scrutinizer to scrutinize both remote e-voting and e-voting at the meeting.
Financial Performance Highlights
The Chairman addressed members with financial highlights for FY 2025-26:
- Standalone revenue from operations: ₹18,895.46 lakhs (23.4% increase YoY)
- Standalone net profit: ₹566.63 lakhs (compared to ₹136.86 lakhs previous year)
- Consolidated revenue from operations: ₹97,642.94 lakhs (8.8% increase YoY)
- Consolidated net profit: ₹198.66 lakhs
- No dividend recommended for FY 2025-26 to conserve resources for future growth
Additional Proceedings
The statutory registers were made available for electronic inspection during the meeting. The Notice convening the AGM, Directors' Report, and Audited Financial Statements were taken as read. The Statutory Auditors' Report and Secretarial Audit Report for FY 2025-26 contained no qualifications or adverse remarks. Registered speaker shareholders raised queries about company performance and operations, which were addressed by the Chairman and CFO.
Compliance and Submission
The voting results along with the Scrutinizer's Report will be submitted to BSE Limited and National Stock Exchange of India Limited within the timeline prescribed under Regulation 44(3) of SEBI Listing Regulations. The document is signed by Anmol Sanjay Chaturvedi, Company Secretary & Compliance Officer (Membership No. ACS 73871), and explicitly notes that it does not constitute the formal minutes of the AGM.