Meeting Details

The 26th Annual General Meeting was held on Thursday, 24th September, 2026 at 11:00 a.m. IST through Video Conferencing (VC) / Other Audio Visual Means (OAVM). The meeting was deemed to be conducted at the Registered Office of the Company at B-30, Royal Industrial Estate, Wadala, Mumbai – 400031.

Proposed Resolutions and Implications

Six ordinary resolutions were proposed and approved:

1. Adoption of Audited Standalone and Consolidated Financial Statements for FY 2025-26 together with Reports of Board of Directors and Auditors

2. Re-appointment of Mr. Nilesh Punamchand Shah (DIN: 00281407) who retires by rotation

3. Appointment of Statutory Auditors M/s. Walker Chandiok & Co LLP (Firm Registration No: 001076N/N500013) and fixing their remuneration for 5 years

4. Approval of increased remuneration for Mr. Akshay Shah (relative of directors) from ₹60 lakh to ₹1 crore per annum as Head - Supply Chain

5. Approval of increased remuneration for Mr. Dhvanit Shah (relative of directors) from ₹60 lakh to ₹1 crore per annum as Strategic Business Head

6. Determination of fees for delivery of documents through particular mode

Voting Process and Methods

The voting was conducted through two methods:

  • Remote e-voting: Monday, 21st September, 2026 (9:00 a.m. IST) to Wednesday, 23rd September, 2026 (5:00 p.m. IST)
  • E-voting at AGM: Conducted during the meeting on 24th September, 2026

The company appointed Mr. Vinesh Shah, Practising Company Secretary, as Scrutinizer to scrutinize the electronic voting process.

Key Voting Outcomes

Overall Participation

  • Record date: 17-09-2026
  • Total shareholders on record date: 28,477
  • Total shares outstanding: 65,507,778
  • Total votes polled: 55,509,883 shares (84.7379% of outstanding shares)

Resolution-wise Results:

Resolution 1 (Financial Statements Adoption)

  • Total votes in favor: 55,509,832 (100% of votes polled)
  • Votes against: 101 (0.0000%)

Resolution 2 (Director Re-appointment)

  • Total votes in favor: 55,509,456 (99.9992% of votes polled)
  • Votes against: 427 (0.0008%)

Resolution 3 (Auditor Appointment)

  • Total votes in favor: 55,509,622 (99.9995% of votes polled)
  • Votes against: 261 (0.0005%)

Resolution 4 (Akshay Shah Remuneration)

  • Total votes in favor: 8,329,100 (86.3641% of valid votes)
  • Votes against: 1,315,073 (13.6359%)
  • Invalid votes: 15,278,320

Resolution 5 (Dhvanit Shah Remuneration)

  • Total votes in favor: 8,329,100 (86.3641% of valid votes)
  • Votes against: 1,315,073 (13.6359%)
  • Invalid votes: 15,278,320

Resolution 6 (Document Delivery Fees)

  • Total votes in favor: 55,509,306 (99.9990% of votes polled)
  • Votes against: 577 (0.0010%)

Category-wise Participation:

Promoter and Promoter Group

  • Shares held: 45,951,610
  • Votes polled: 45,937,410 (99.9691% participation)
  • All votes cast in favor for all resolutions

Public Institutions

  • Shares held: 7,991,591
  • Votes polled: 7,100,769 (88.8530% participation)
  • All votes cast in favor for all resolutions

Public Non-Institutions

  • Shares held: 11,564,577
  • Votes polled: 2,471,704 (21.3731% participation)
  • Minimal votes against resolutions 1, 2, 3, and 6

Scrutinizer's Report

Mr. Vinesh K. Shah of Vinesh K. Shah & Associates was appointed as Scrutinizer. Key findings:

  • Voting was unblocked on 24th September, 2026 at approximately 12:05 p.m. in presence of witnesses CS Poonam Kanade and CS Chaitanya Shanbhag
  • NSDL provided the e-voting platform (https://www.evoting.nsdl.com)
  • All resolutions passed with requisite majority
  • Invalid votes were specifically noted for Resolutions 4 and 5 (15,278,320 votes)

Compliance Confirmation

The meeting was conducted in compliance with:

  • Companies Act, 2013
  • SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • MCA Circulars: General Circular No. 03/2025, 14/2020, 17/2020, and 20/2020
  • All regulatory requirements for VC/OAVM meetings were followed