Shareholders of Anant Raj Limited approved all nine resolutions proposed at its 41st Annual General Meeting (AGM) held on August 7, 2026, in Manesar, Haryana. The approvals include the adoption of audited financial statements for FY26, the declaration of a final dividend on equity shares, and significant changes to the Board of Directors. The meeting also ratified managerial remuneration limits for senior executives and approved payments to independent directors and cost auditors.

The voting process was conducted under Section 108 of the Companies Act, 2013, and Rule 20 of the Companies (Management and Administration) Rules, 2014. Priya Jindal, a Practicing Company Secretary, served as the scrutinizer. Remote e-voting was open from August 4, 2026, to August 6, 2026. A total of 3,56,173 shareholders were on record as of July 31, 2026. Of these, 249,140,712 votes were polled out of 359,876,930 shares held, representing a 69.2% participation rate. The promoter group held 206,657,823 shares, while public institutional and non-institutional shareholders held 56,045,183 and 97,173,924 shares, respectively.

Board Appointments and Remuneration

The most significant governance decisions involved the composition and compensation of the Board. Shareholders approved the reappointment of Aman Sarin (DIN: 00015887), who retires by rotation. Additionally, Anish Sarin was appointed as a Director and Whole-time Director, with his remuneration fixed by shareholder consent. The promoters were interested in these resolutions, yet they secured overwhelming support.

The company also sought approval to increase the managerial remuneration limits for three other executives:

• Amit Sarin, Managing Director
• Aman Sarin, Whole-time Director and Chief Executive Officer
• Ashim Sarin, Whole-time Director and Chief Operating Officer

All remuneration-related resolutions passed with requisite majorities. The promoter group voted unanimously in favor of all interested resolutions. Public institutional shareholders showed varied support, with approval rates ranging from 85.9% to 100% depending on the specific resolution.

Financial and Compliance Approvals

Beyond governance, shareholders adopted the standalone and consolidated audited financial statements for the financial year ended March 31, 2026. This resolution received 97.85% support overall, with 100% support from the promoter group and 85.46% from public institutions. The final dividend for FY26 was approved with near-unanimous support, garnering 99.99% of votes polled.

The company also approved the payment of commission to Non-Executive Independent Directors and ratified the remuneration for M/s Yogesh Gupta & Associates, appointed as Cost Auditors for FY27. Both resolutions saw minimal opposition, with against votes constituting less than 0.01% of the total polled votes.

What the Numbers Show

The voting data highlights a clear divergence between promoter and public institutional engagement on governance matters. While the promoter group consistently voted 100% in favor of all resolutions, public institutional shareholders opposed certain proposals. For instance, Resolution No. 1 (Financial Statements) faced 14.54% opposition from public institutions, and Resolution No. 4 (Appointment of Anish Sarin) saw 14.07% opposition from the same group. In contrast, non-institutional public shareholders demonstrated near-total alignment with management, opposing less than 0.23% of any resolution. This pattern suggests that while retail investors strongly back management decisions, institutional investors exercised more scrutiny on financial disclosures and new executive appointments.

Anant Raj reported a consolidated net profit of ₹149.19 crore for the quarter ended June 30, 2026 (Q1FY27), up from ₹125.90 crore in the corresponding period last year. Consolidated revenue from operations rose to ₹631.40 crore, compared to ₹592.41 crore in Q1FY26. The Board of Directors approved these unaudited standalone and consolidated financial results on August 8, 2026, alongside a strategic Composite Scheme of Arrangement to demerge its data centre and cloud services undertaking into a separate listed entity.

Q1FY27 Financial Performance

The company’s consolidated profit before tax stood at ₹185.33 crore, an increase from ₹150.38 crore in Q1FY26. Other income contributed ₹19.35 crore to total income, which reached ₹650.75 crore. Statutory Auditors Ranjana Vandana & Co. issued an unmodified conclusion on the results after a limited review in accordance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Standalone results showed similar growth, with net profit rising to ₹79.10 crore from ₹69.70 crore in Q1FY26. Standalone revenue from operations was ₹395.52 crore, up from ₹352.41 crore in the year-ago quarter. Earnings per share (basic) were ₹4.16 on a consolidated basis and ₹2.20 on a standalone basis.

Strategic Developments: Cloud Demerger and Subsidiary Acquisitions

Post-quarter, on July 21, 2026, the Board approved a Composite Scheme of Arrangement under Sections 230 to 232 of the Companies Act, 2013. The scheme involves the amalgamation of Anant Raj Cloud Private Limited (ARCPL) into Anant Raj Limited (ARL), followed by the demerger of ARL’s Data Centre and Cloud Services undertaking into Ashok Cloud Private Limited (ACPL).

Under the proposed structure, ARL shareholders will directly hold 49% of ACPL, with promoters holding 28.14% and public shareholders 20.86%. ARL will retain a 51% stake in ACPL. The company intends to list ACPL’s equity shares on the National Stock Exchange of India Limited and BSE Limited, subject to regulatory approvals from SEBI, NCLT, and stock exchanges.

Additionally, during Q1FY27, Anant Raj incorporated Anant Raj Cloud Singapore Pte. Ltd. on June 15, 2026, to provide co-location and AI services to overseas customers. The company also completed the acquisition of the remaining 25% equity in Romano Projects Private Limited on April 30, 2026, making it a wholly owned subsidiary.

Capital Allocation and Debt Management

The company utilised ₹60.01 crore from its Qualified Institutional Placement (QIP) proceeds during the quarter, bringing total utilisation to ₹410 crore. As of June 30, 2026, ₹689.99 crore remained unutilised, with no deviation reported under Regulation 32 of the Listing Regulations.

In debt management, Anant Raj discharged its outstanding Non-Convertible Debentures (NCDs) liability of ₹6.50 crore by converting it into a term loan with State Bank of India. Consequently, no NCDs remained outstanding as of June 30, 2026. The impact of the new Labour Codes implemented in November 2025 was recognised in employee benefits expense but was deemed immaterial to the results.