AGM E-Voting Results: Resolutions 1-4 Passed, Divestment Ratification Rejected

AGM e-voting results out.

Wed 30 Sep 2026

Final Dividend

Rs. 2.00/- per equity share of Rs. 5/- (40%)

Resolution 5 Against Vote

68.01% voted against divestment ratification

Resolution 5 For Vote

31.99% voted in favour of divestment ratification

Resolutions 1-4 Pass Rate

99.99% votes in favour

Voting Participation

57.51% of paid-up capital for Resolutions 1-4

What was shared

The scrutinizer M/s. SVJS & Associates submitted the consolidated report on e-voting for the 33rd Annual General Meeting held on 29th September 2026 through video conferencing.

Resolutions passed

• Adoption of audited standalone and consolidated financial statements for FY ended 31st March 2026: 99.9976% in favour on votes polled.
• Final dividend of Rs. 2.00/- per equity share of Rs. 5/- (40%) for FY 2025-26: 99.9976% in favour.
• Re-appointment of Mr. Hardik B Patel, retiring by rotation: 99.9972% in favour.
• Ratification of remuneration to cost auditors M/s. Ajith Sivadas & Co. for year ending 31st March 2027: 99.9976% in favour.

Each of these saw roughly 3,12,09,862 shares voted, representing 57.51% of paid-up capital, with only a few hundred votes against.

Resolution not passed

Resolution 5, a Special Resolution to ratify the divestment of the entire shareholding of the company in Premier Tissues India Ltd, failed. Votes of interested shareholders were excluded. Of 43,47,722 shares voted (2.56% of paid-up capital), 13,90,988 votes (31.99%) were in favour and 29,56,734 votes (68.01%) were against.

Why this matters

A Special Resolution needs at least 75% of votes cast in favour. Since the majority of the disinterested public shareholders voted against, the ratification of the Premier Tissues India Ltd divestment did not receive shareholder approval. Investors may read this as a signal of minority shareholder disagreement on the related transaction.

Remote e-voting ran from 26th September 2026 to 28th September 2026, and members present at the meeting who had not voted earlier could vote during the AGM.

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