Alfa Ica (India) Limited shareholders approved all resolutions at the 35th Annual General Meeting, including remuneration increases for top management, with a 99.995% majority in favor.

The company submitted the voting results and scrutinizer’s report to the BSE on September 23, 2026, pursuant to Regulation 44(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The meeting was held on September 21, 2026, at the company’s registered office in Ahmedabad.

Voting Breakdown by Resolution

All four agenda items received overwhelming support from both remote e-voting participants and those voting by poll at the venue. The total valid votes cast in favor across all items stood at 19,92,553, representing 99.995% of the total votes cast.

Participation and Process

A total of 44 members were present at the AGM venue, including four promoter shareholders. Remote e-voting facilities were provided through Central Depository Services (India) Limited from September 18, 2026, to September 20, 2026.

Mr. Kamlesh M. Shah of Kamlesh M. Shah & Co. acted as the scrutinizer. The report confirmed that no proxies were lodged for the purpose of the AGM. The cut-off date for identifying eligible shareholders was September 14, 2026, when the register listed 3,092 shareholders.

Key Resolutions Passed

The agenda included two ordinary businesses and two special businesses. The special resolutions specifically addressed the increase in managerial remuneration for Mr. Rishi Tikmani, Managing Director, and Ms. Pooja Tikmani, Joint Managing Director, for their remaining term of office.

Alfa Ica (India) Limited will hold its 35th Annual General Meeting on Monday, September 21, 2026, at 3:30 pm. The meeting is scheduled at its registered office in Sanand, Ahmedabad, to adopt financial statements for FY26 and approve executive remuneration changes.

The company reported a 32% year-on-year increase in net profit to ₹189.92 lakh for FY26, driven by an 11% rise in total income to ₹8,859.29 lakh. Shareholders will vote on increasing the monthly remuneration for Managing Directors Mr. Rishi Tikmani and Ms. Pooja Tikmani to ₹6,90,000, effective August 1, 2026.

Financial Performance

The financial results for the year ended March 31, 2026, reflect growth in both revenue and profitability. Total income rose from ₹7,943.23 lakh in FY25 to ₹8,859.29 lakh in FY26. Revenue from operations specifically increased to ₹8,663.89 lakh from ₹7,855.50 lakh in the previous year.

Earnings before interest and depreciation stood at ₹600.34 lakh, up from ₹521.12 lakh in FY25. Finance costs increased slightly to ₹200.05 lakh from ₹193.94 lakh, while depreciation rose to ₹145.76 lakh from ₹134.86 lakh.

Governance and Remuneration Details

Shareholders will also vote on the reappointment of Mr. Shyamal Raval as a director, who retires by rotation. The proposed remuneration structure for the Managing Directors includes basic salary alongside specific perquisites such as house maintenance expenses, club fee reimbursements, and medical insurance premiums.

Additionally, the compensation package allows for a commission calculated at a rate not exceeding 1% of the company's net profits, subject to overall ceilings under Section 197 read with Section 198 of the Companies Act, 2013.

What the Numbers Show

The simultaneous remuneration increase for both Managing Directors to the identical figure of ₹6,90,000 per month highlights a standardized executive compensation framework within the family-managed leadership structure. With Mr. Rishi Tikmani and Ms. Pooja Tikmani being siblings, the aligned pay scale suggests a deliberate governance approach to balance executive roles, rather than differentiating based on individual tenure or distinct operational mandates at this stage.

Meeting Logistics and E-Voting

The register of members and share transfer books will remain closed from September 12, 2026, to September 21, 2026. Remote e-voting will be available from 9:00 am on Friday, September 18, 2026, to 5:00 pm on Sunday, September 20, 2026. The cut-off date for determining voting rights is Monday, September 14, 2026.

Mr. Kamlesh M. Shah has been appointed as the scrutinizer for the e-voting process. The annual report and notice have been sent electronically to members with registered email addresses, in compliance with SEBI regulations regarding electronic communication.