Advance Lifestyles Limited announced the voting results for its 37th Annual General Meeting (AGM) held on September 22, 2026. Both ordinary resolutions proposed at the meeting were passed with the requisite majority, confirming the adoption of audited financial statements and the re-appointment of a director.

The meeting, conducted via Video Conferencing and Other Audio Visual Means, commenced at 1:07 pm and concluded at 1:37 pm IST. The results were submitted to BSE Limited on September 23, 2026, pursuant to Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Voting outcomes

The scrutinizer’s report, prepared by Meghna Shah of MSDS & Associates, confirmed that 13 members cast valid votes representing 45,02,862 shares. The voting pattern for both resolutions was identical:

Agenda items addressed

The primary agenda involved receiving, considering, and adopting the audited financial statements for the fiscal year ended March 31, 2026. This included the Balance Sheet, Statement of Profit and Loss, Cash Flow Statement, and associated reports from the Board of Directors and Auditors. Additionally, shareholders considered the re-appointment of Mr. Kashyap Gandhi as a Director. Mr. Gandhi, who is liable to retire by rotation under Section 152 of the Companies Act, 2013, offered himself for re-appointment.

Attendance and governance

The meeting was chaired by Ms. Jyoti Laxman Bambade, a Non-Executive Director, following her proposal by Ms. Mala Poddar and seconding by Mr. Aditya Soni. The proceedings were managed by Company Secretary Vikas Gangwal. Key personnel present included Managing Director Kashyap Gandhi, Independent Directors Mala Poddar and Aditya Soni, and Chief Financial Officer Ramesh Nair.

Voting process

Remote e-voting facilities were provided by Bigshare Services Private Limited from September 17 to September 21, 2026. Members who did not vote remotely could cast their votes during the AGM for 30 minutes after the meeting's conclusion. The combined results were scheduled for announcement within 48 hours of the meeting's conclusion.

Stakeholder engagement

Members registered as speakers raised questions regarding the company's performance and operations. These queries were addressed satisfactorily by Chief Financial Officer Ramesh Nair. The statutory auditors, Piyush J. Shah & Co., and secretarial auditors, Pooja Gala & Associates, attended as invitees to support the transparency of the proceedings.

Advance Lifestyles promoter Prerna Agarwal has pledged her entire holding of 45,02,633 equity shares in the company. The encumbrance was created on September 9, 2026, in favour of Motilal Oswal Financial Services Limited.

The pledge covers 72.32% of the company’s total share capital. According to the disclosure filed with BSE Limited under Regulation 31(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, the shares were pledged to avail a margin facility.

Pledge Details

Prior to this event, none of the promoter’s shares were encumbered. Post-creation, the entire holding remains pledged.

What the Numbers Show

The pledge involves the promoter’s entire stake in the company. With 72.32% of the equity capital now encumbered for a margin facility, any significant decline in the stock price could trigger margin calls or potential invocation by the lender, highlighting high leverage exposure for the controlling shareholder.