39th AGM Proceedings and Chairman's Speech; 5 Resolutions Put to E-Voting

39th AGM held 25 Sep 2026 via video conferencing.

Fri 25 Sep 2026

AGM Date

25 Sep 2026

Attendance

48 members holding 15519779 (46.75%) equity shares

Related Party Borrowing - Dharani Developers

Rs.300.00 Crores

Related Party Borrowing - Dr Palani G Periasamy

Rs.25.00 Crores

Voting Mechanism

E-voting held 22.09.2026 to 24.09.2026

What happened

The 39th Annual General Meeting for FY 2025-26 was held on 25 September 2026 at 11.00 a.m. through Video Conferencing / Other Audio-Visual Means, and closed at 11.46 a.m. Dr Palani G Periasamy, Executive Chairman, chaired the meeting.

Attendance

• 48 members attended, representing 15519779 equity shares, or 46.75% of equity.
• Directors, the CFO, statutory auditor, internal auditor, secretarial auditor, cost auditor and the share transfer agent were present.
• The Company received 7 requests from members to speak, but none of them joined the meeting.

Resolutions put to e-voting

• Adoption of audited financial statements for the year ended 31 March 2026 with Board and Auditors' reports (Ordinary).
• Re-appointment of Mrs Visalakshi Periasamy, Director retiring by rotation, who has crossed the age of 80 years (Special).
• Ratification of appointment of M/s SRR Associates, Cost Accountants, as Cost Auditor for FY 2026-27 (Ordinary).
• Approval of related party transactions with M/s Dharani Developers Private Limited for borrowings not exceeding Rs.300.00 Crores in aggregate (Ordinary).
• Approval of related party transactions with Dr Palani G Periasamy, Executive Chairman, for borrowings not exceeding Rs.25.00 Crores in aggregate (Ordinary).

Voting process

Remote e-voting was open for three days from 22.09.2026 to 24.09.2026, and e-voting was also available during the meeting and for 15 minutes after its closure. M Damodaran of M. Damodaran & Associates LLP acted as scrutinizer. The voting result will be announced on receipt of the scrutinizer's report and placed on the Company's website and with the stock exchanges.

Audit observations

The Chairman noted there were qualifications, observations or comments in the Auditor's Report and the Secretarial Audit Report on financial transactions or matters having an adverse effect on the functioning of the Company, with explanations given in the reports themselves.

Chairman's speech highlights

• Global growth is projected at 3.3 percent for 2026 and 3.2 percent for 2027, revised slightly up since October 2025.
• Energy markets stayed volatile; Brent briefly fell below US$85/bbl before rebounding towards US$100/bbl and moving above that level.
• US federal debt crossed US$40 trillion, adding to sovereign borrowing concerns.
• India is expected to remain the fastest-growing major economy with growth forecast between 7.00% and 7.8% for the year, with around US$127.2bn mobilised through FCNR(B) deposits.

What it means for investors

This is a record of the meeting; the outcome of each resolution depends on the voting results yet to be declared. The two related party borrowing approvals indicate the Company seeks headroom to borrow from a related entity and from its Executive Chairman.

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