45th AGM proceedings: Chetan Shah retires as Director, moves to Chief – Strategy & Planning

45th AGM held on 29 Sept 2026 via video conferencing.

Tue 29 Sep 2026

FY26 Consolidated Income from Operations

Rs. 5,237 crores

FY26 Profit Before Tax & Exceptional Items

Rs. 449 crores

Guinea bauxite exports FY26

approximately 8 million tonnes

Guinea bauxite exports FY25

approximately 3.5 million tonnes

Final dividend FY26

100% i.e. Rs. 2/- per equity share (face value Rs. 2/-)

The management change

Shri Chetan Shah, Director, informed Members that he would retire as a Director of the Company at the conclusion of the 45th AGM. His association with the Company continues in a new role and responsibility as Chief – Strategy & Planning with effect from 1st October, 2026, a Key Managerial Personnel position. Approval of his place of profit in that role was one of the items of business transacted at the AGM as an Ordinary Resolution.

Since there was no designated Chairman of the Board, the Directors present elected Shri Chetan Shah as Chairman of the meeting, proposed by Shri Jagdish Shetty and seconded by Shri Hemul Shah. He attended through video conferencing from Guinea.

Performance shared at the AGM

• Consolidated Income from Operations for FY 2025-26: Rs. 5,237 crores
• Profit Before Tax and Exceptional Items: Rs. 449 crores
• Bauxite exports from Guinea operations rose to approximately 8 million tonnes from approximately 3.5 million tonnes in the previous year
• Final dividend recommended at 100% for FY 2025-26 versus 50% in the previous financial year

Business transacted

• Adoption of Audited Financial Statements (including Consolidated) for the year ended 31st March, 2026
• Declaration of a final dividend of 100% i.e. Rs. 2/- per Equity Share of face value Rs. 2/- each
• Ratification of the remuneration of Cost Auditor
• Approval of place of profit of Shri Chetan Shah, Chief – Strategy & Planning

The meeting, held through video conferencing, began at 3:00 p.m. and concluded at 3.54 p.m., with the e-voting window kept open for 15 minutes thereafter. E-voting results will be announced later on receipt of the Scrutinizer's Report and placed on the Company's and CDSL's websites and sent to the Stock Exchanges.

Other points noted

Members were informed that there were no observations in the reports of the Statutory Auditors and Secretarial Auditors. The Chairman also spoke about infrastructure and logistics initiatives, expansion of port capacity, investments in Indian businesses, raw material sustainability and the introduction of ESOP 2026, and outlined focus areas for the coming year including expansion of Guinea export volumes, margin improvement through operational efficiencies and cost optimisation, growth in value-added products and expansion of global market presence.

Investors may read this as continuity of a senior executive in a different capacity alongside a year of higher reported operating income and a higher recommended dividend.

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