All Resolutions Passed at 16th AGM; Institutions Largely Opposed Auditor Re-Appointment
All resolutions at the 16th AGM (held Sep 24, 2026) passed with requisite majority.
By ScoutQuest · · 2 min read
- Fund Raising Approval
- Up to 250 crores approved with 99.9998% in favour
- Total Voting Turnout
- 70.7189% of outstanding shares
- Auditor Re-appointment Support
- 95.0333% in favour overall, but institutions voted 79.2246% against
- ESOP Scheme Amendments
- 99.8973% in favour
- AGM Date
- September 24, 2026
What happened
Borosil Limited has reported the voting results of its 16th Annual General Meeting held on Thursday, September 24, 2026. All resolutions in the AGM notice were passed with the requisite majority. A consolidated Scrutiniser's Report dated September 25, 2026 accompanied the results.
Turnout
- Total shares: 11,95,87,629
- Votes polled on most items: 8,45,67,030, or 70.7155% of outstanding shares
- Promoter and promoter group holding: 7,73,55,064 shares, with 99.9943% of it voted
- Public institutions: 81,84,734 shares held, 64.7716% voted
- Public non-institutions: 3,40,47,831 shares held, about 5.6245% voted
Resolution-wise support (overall, on votes polled)
- Adoption of standalone and consolidated financial statements for FY ended March 31, 2026: 99.9998% in favour
- Re-appointment of Mr. Rajesh Kumar Chaudhary, retiring by rotation: 99.8753% in favour
- Re-appointment of M/s. Chaturvedi & Shah LLP as Statutory Auditors: 95.0333% in favour, 4.9667% against
- Material Related Party Transactions with Borosil Scientific Limited: 99.9946% in favour (promoters were interested and did not vote; only eligible shareholders' votes counted)
- Continuation of terms of remuneration of Mr. Shreevar Kheruka, Managing Director (Special): 99.7077% in favour
- Raising of funds through further issue(s) of securities up to 250 crores (Special): 99.9998% in favour
- Amendments to Borosil Limited - Employee Stock Option Scheme 2020 (Special): 99.8973% in favour
- Secondary acquisition of shares through trust route for the ESOP Scheme 2020 (Special): 99.9992% in favour
- Provision of money by the Company for purchase of its own shares by the trust under the ESOP Scheme 2020 (Special): 99.9992% in favour
Point worth noting
On the Statutory Auditor re-appointment, public institutional shareholders cast 42,00,000 votes against and 11,01,382 in favour, i.e. 79.2246% of their polled votes were against. Promoter votes of 7,73,50,619 were fully in favour, which carried the resolution overall. Institutions also showed some dissent on the Managing Director's remuneration (4.6486% against within their category) and on the director re-appointment (1.9863% against).
Why it matters
Voting results tell shareholders how different holder groups view the board's proposals. The approvals clear the way for the company to proceed on the approved items, including the fund raising of up to 250 crores and the ESOP scheme changes. Concentrated institutional opposition on a single item is a signal of differing views on that specific matter, even though the resolution was passed.
Also from Borosil
Board meeting on October 29, 2026 to approve September quarter results
22 Oct 2026
Borosil shares were in focus after Investec maintained a buy rating with a target price of 330
28 Sep 2026
DGTR recommended anti-dumping duty on Chinese borosilicate kitchen glassware, seen as positive for Borosil; Investec raised its target price to 330 from 265 with a buy rating
28 Sep 2026
More numbers
- Total shares outstanding11,95,87,629
- Total votes polled (most resolutions)8,45,67,030
- Turnout on financials resolution70.7189%
- Turnout on most resolutions70.7155%
- Financial statements adoption - in favour99.9998%
- Director re-appointment - in favour99.8753%
- Auditor re-appointment - in favour overall95.0333%
- Auditor re-appointment - institutions against79.2246%
- Institutional votes against auditor re-appointment42,00,000
- Related party transactions - in favour99.9946%
- MD remuneration - in favour99.7077%
- Fund raising limit approved250 crores
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