Akar Auto Industries Limited concluded its 37th Annual General Meeting on September 29, 2026, with all six proposed resolutions passing with requisite majority. The meeting, conducted via Video Conferencing, saw unanimous support from voting shareholders for the adoption of FY26 financials and dividend declaration.

Voting participation and turnout

The company disclosed detailed voting results pursuant to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Out of 4,260 shareholders on the cut-off date of September 22, 2026, 25 attended the meeting through video conferencing. This included 6 promoters and 19 public shareholders. No shareholders voted through physical proxy or poll during the meeting; all votes were cast via remote e-voting or e-voting during the session.

Resolution-wise voting breakdown

The voting pattern highlights a distinct split between promoter and public shareholder participation across different agenda items. Promoters voted on financial and audit matters but abstained from voting on their own re-appointment and related party transactions, as required by governance norms. Public shareholders, specifically non-institutional investors, cast the decisive votes for these specific items.

What the numbers show

The voting data reveals a concentration of voting power among promoters for standard corporate actions. For Resolutions 1, 2, 4, and 5, promoters accounted for 3,553,696 votes out of the total 3,565,588 polled, representing 99.6% of the active vote share. In contrast, for Resolutions 3 and 6, where promoters were interested parties or had specific conflicts, they abstained entirely. Consequently, the passage of the director re-appointment and related party transaction approvals relied solely on the 11,892 votes cast by public non-institutional shareholders, highlighting the critical role of minority shareholder consensus in approving governance-sensitive items.

Leadership and strategic focus

Mr. Bhimsen Galgali, Independent Director and Chairman, chaired the meeting after the original Chairman, Mr. Narendrakumar Gupta, could not attend due to unavoidable circumstances. In his address, Galgali highlighted that improving the top line and restoring growth remains a key priority. The company plans to strengthen its existing customer base, explore new business opportunities, and expand market presence.

The management emphasized improving capacity utilization and developing products aligned with evolving customer requirements. Mr. Sunil Todi, Managing Director, thanked shareholders for their support and noted that voting results were declared within two working days.

Akar Auto Industries has accepted the resignation of Dipak Kala as Company Secretary and Compliance Officer, effective September 18, 2026.

Kala, who also served as Nodal Officer and Head – Legal, tendered his resignation to pursue professional opportunities outside the company. The board thanked him for his contributions during his approximately four-year tenure.

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Sunil Todi, Managing Director, signed the intimation letter addressed to the Bombay Stock Exchange.

Resignation Details

Kala assured the board of full cooperation during the notice period to ensure a smooth transition of responsibilities.