Alkali Metals Limited shareholders rejected two key special resolutions at its 58th Annual General Meeting on August 21, 2026, including the reappointment of Managing Director Y.S.R. Venkata Rao.

The meeting, conducted via video conferencing in compliance with SEBI (LODR) Regulations 2015 and the Companies Act 2013, saw promoters abstain from voting on the contested resolutions. While ordinary business items passed with overwhelming support, the special resolutions for board leadership changes failed to secure the requisite majority.

Key Resolutions Passed

Shareholders approved several ordinary resolutions during the proceedings. The Company Secretary informed members that the notice, along with audited financial statements and statutory reports, had been circulated electronically on July 29, 2026.

Board Appointments and Rotations

The AGM included the retirement by rotation of Ms. Y. Lalithya Poorna and Dr. J.S. Yadav, both of whom were reappointed as directors with strong shareholder support. However, Mr. Y.V. Prashanth’s appointment as an Executive Director for a three-year period starting June 1, 2026, was not approved.

Consequent to not obtaining the requisite majority, Mr. Y.V. Prashanth (DIN: 00345418) ceased to hold office as Executive Director of the Company. However, he continues to hold office as a Non-Executive, Non-Independent Director on the Board. Additionally, Sri Sivarama Prasad Bhamidi was appointed as an Independent Director for a five-year term effective July 20, 2026.

Voting Analysis

The consolidated voting results reveal a distinct split between promoter and public shareholders on the special resolutions. Promoter-held shares (70,85,842 shares) did not cast any votes in favor or against the reappointment of Y.S.R. Venkata Rao or the appointment of Y.V. Prashanth, effectively abstaining from these specific decisions.

For the reappointment of Managing Director Y.S.R. Venkata Rao, only public shareholders voted. Of the 19,696 votes polled from the public segment, 12,460 (63.26%) voted in favor while 7,236 (36.74%) voted against. Since this resolution required a special majority (75% under Section 179 of the Companies Act for director reappointment if remuneration is involved, or generally high threshold for special resolutions), it failed to pass.

Similarly, for the appointment of Executive Director Y.V. Prashanth, public shareholders polled 19,696 votes. Of these, 13,970 (70.93%) voted in favor and 5,726 (29.07%) voted against. This also failed to meet the requisite majority for a special resolution.

In contrast, ordinary resolutions such as the adoption of financial statements and dividend declaration received near-unanimous support. For the financial statements, 69,53,405 votes were cast in favor with zero against. The dividend declaration received 69,49,396 votes in favor (99.94%) with only 4,009 votes against.

Meeting Proceedings

Sri Y.S.R. Venkata Rao served as the Chairman of the meeting in the absence of the regular chairman. The quorum was present from the start, allowing the meeting to commence promptly at 11:04 am IST. Directors in attendance included K.V. Suryaprakash Rao, G. Jayaraman, Dr. A.R. Prasad, and Mr. Y.V. Prashanth.

Statutory Auditor Mr. J. Venkateswarlu, Internal Auditor Mr. M. Ramakrishna, and Chief Financial Officer Mrs. Gayathri Kesavarapu were also present. Members raised queries regarding operations and future plans, including plant visits and the company's vision for 2030, which were addressed by the Company Secretary.

Remote e-voting was available from August 18 to August 20, 2026. The consolidated voting results and Scrutinizer's Report, submitted by CS B. Venkatesh Babu, confirm that out of 7 resolutions proposed, 5 were duly approved and 2 were not approved.

Alkali Metals Limited has fixed the book closure dates for its 58th Annual General Meeting (AGM), which will be held on Friday, August 21, 2026. The company will conduct the meeting through Video Conference (VC) or Other Audio-Visual Means (OAVM) starting at 11:00 A.M. IST. The book closure is essential for determining shareholder eligibility for voting and any dividend declared during the meeting.

The record date for the AGM is set for Friday, August 14, 2026. Consequently, the book closure period will remain in effect from Monday, August 15, 2026, to Friday, August 21, 2026, inclusive of both days. During this period, no transfer or transmission of shares will be processed.

Key Dates and Timelines

Shareholders holding equity shares as of the close of business on the record date will be entitled to attend and vote at the AGM. The company has also outlined the e-voting window for shareholders who wish to cast their votes remotely before the meeting.

E-Voting Schedule

The e-voting facility will be available for a limited period preceding the AGM:

• Start Date and Time: August 18, 2026, at 9:00 A.M. IST
• End Date and Time: August 20, 2026, at 5:00 P.M. IST

These timelines are fixed in accordance with Section 91 of the Companies Act, 2013, and Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Shareholders are advised to ensure their holdings are updated in their demat accounts before the record date to secure voting rights and dividend entitlements.

The announcement was issued by Siddharth Dubey, Company Secretary & Compliance Officer of Alkali Metals Limited, on August 5, 2026, and submitted to both the National Stock Exchange of India Ltd and BSE Limited.