Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Excel Industries Limited
Meeting Details
The 66th Annual General Meeting of Excel Industries Limited was held on 24th September 2026 through Video Conferencing/Other Audio Visual Means. The record date for determining shareholder eligibility was 17th September 2026, with 22,328 shareholders on record.
Shareholder Participation
- Total shareholders present in meeting: Not Available (NA)
- Shareholders attended through video conferencing: 52 (Promoters: 1, Public: 51)
- Voting was conducted through remote e-voting and e-voting during AGM
Proposed Resolutions and Outcomes
All five resolutions were passed through requisite majority:
1. Ordinary Resolution: To adopt audited standalone and consolidated financial statements for FY ended 31st March 2026 with reports of Board of Directors and Auditors
- Total valid votes: 6,677,130
- Votes in favor: 6,677,125 (100.00%)
- Votes against: 5 (0.00%)
2. Ordinary Resolution: To declare final dividend of Rs. 13.75/- (275%) per equity share for FY 2025-26
- Total valid votes: 6,680,803
- Votes in favor: 6,680,798 (100.00%)
- Votes against: 5 (0.00%)
3. Ordinary Resolution: To reappoint Mr. Hrishit A Shroff (DIN: 00033693) as director retiring by rotation
- Total valid votes: 6,680,803
- Votes in favor: 6,680,798 (100.00%)
- Votes against: 5 (0.00%)
4. Special Resolution: To approve payment of remuneration to all Executive Directors
- Total valid votes: 6,680,803
- Votes in favor: 6,646,580 (99.49%)
- Votes against: 34,223 (0.51%)
5. Ordinary Resolution: To ratify remuneration of Cost Auditors
- Total valid votes: 6,680,803
- Votes in favor: 6,680,798 (100.00%)
- Votes against: 5 (0.00%)
Voting Process and Methodology
- Remote e-voting period: 21st September 2026 (9:00 AM IST) to 23rd September 2026 (5:00 PM IST)
- E-voting services provided by MUFG Intime India Private Limited (formerly Link Intime India Private Limited)
- Cut-off date for voting eligibility: 17th September 2026
- Votes were unblocked on 24th September 2026 at 5:25 PM IST in presence of witnesses CS Aashit Doshi and CS Nikunj Kiri
- One share equaled one vote as per Companies Act 2013 provisions
Category-wise Voting Breakdown
Total Outstanding Shares: 12,570,692
Total Votes Polled: 6,680,803 (53.15% of outstanding shares)
Promoter and Promoter Group (Holdings: 6,474,659 shares)
- Votes polled: 5,795,329 (89.51% of promoter holdings)
- Unanimous approval across all resolutions (100% in favor)
Public Institutions (Holdings: 1,089,151 shares)
- Votes polled: 882,155 (80.99% of institutional holdings)
- 100% approval for all resolutions except executive remuneration (96.12% in favor, 3.88% against)
Public Non-Institutions (Holdings: 5,006,882 shares)
- Votes polled: 3,319 (0.07% of non-institutional holdings)
- 99.85% approval across resolutions with minimal dissent (0.15%)
Scrutinizer's Role and Findings
Mr. Prashant Diwan, Practicing Company Secretary, was appointed scrutinizer by the Board of Directors at their meeting held on 13th August 2026. His responsibilities included:
- Scrutinizing remote e-voting and e-voting during AGM
- Ensuring compliance with Section 108 of Companies Act 2013, Rule 20 of Companies (Management and Administration) Amendment Rules 2015, and SEBI LODR Regulations 2015
- Following MCA and SEBI circulars dated between April 2020 and September 2025
- The scrutinizer confirmed that no shareholder used both voting facilities and all votes were properly counted
Compliance Confirmation
The document confirms compliance with:
- SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
- Companies Act, 2013 and relevant rules
- MCA General Circulars and SEBI circulars on e-voting procedures
Additional Information
- Company CIN: L24200MH1960PLC011807
- The annual report and AGM notice were sent to members on 31st August 2026 via electronic mode
- The scrutinizer's report includes six annexures with detailed voting breakdowns by category and resolution