Anik Industries conducted its 50th Annual General Meeting on September 29, 2026, through video conferencing. The meeting saw the adoption of audited financial statements for FY26 and the reappointment of Managing Director Manish Shahra.

The proceedings were held in compliance with Ministry of Corporate Affairs and SEBI circulars permitting virtual meetings. A total of 44 members attended the session, satisfying the quorum requirements. Mr. Ankur Bindal, Company Secretary, facilitated the process, while Mr. Amit Jain served as the scrutinizer for the voting process.

Key resolutions passed

Shareholders voted on four ordinary resolutions during the meeting. The primary items included the adoption of standalone and consolidated financial statements and the ratification of remuneration for the cost auditor, K.G. Goyal & Co., for FY27.

Directorial changes and related party transactions

Mr. Manish Shahra was reappointed as a Director liable to retire by rotation. Additionally, members approved the continuance of material related party transactions between the company and its material subsidiary, Revera Milk & Foods Private Limited. This approval ensures ongoing operational alignment between the parent entity and its subsidiary.

Attendance and governance details

The board presence included Whole-time Directors Mahesh Kumar Sharma and Ashok Kumar Trivedi, along with Independent Directors Navin Prakash Dashora, Bhagyashree Chitnis, and Nilesh Jagtap. CFO Gautam Jain and Company Secretary Ankur Bindal also attended. Statutory auditors B. Shroff & Company participated virtually.

The Chairman noted that the statutory auditor expressed an unqualified opinion on the financial statements for the year ended March 31, 2026. The meeting concluded at 11:48 am after voting lines remained open for 15 minutes.

Anik Industries Limited has scheduled its fiftieth Annual General Meeting (AGM) for Tuesday, September 29, 2026. The meeting will be conducted through video conferencing or other audio-visual means at 11:30 am. The Board of Directors approved the notice and annual report for FY26 in its meeting on August 27, 2026.

Meeting and Voting Details

The company fixed Tuesday, September 22, 2026 as the cut-off date to determine shareholder entitlements for remote e-voting. This aligns with Section 108 of the Companies Act, 2013 and Rule 20 of the Companies (Management and Administration) Rules, 2014.

Remote e-voting will commence on Saturday, September 26, 2026 at 9:00 am and conclude on Monday, September 28, 2026 at 5:00 pm. Shareholders recorded in the register as of the cut-off date may cast their votes electronically during this window or at the venue of the meeting.

Book Closure Period

Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Register of Members and Share Transfer Books will remain closed from Saturday, September 19, 2026 to Tuesday, September 29, 2026. Both days are inclusive. This closure is necessary to finalize the list of shareholders eligible to participate in the AGM.

The cut-off date for sending the Notice of AGM and the Annual Report was Friday, August 28, 2026. Gautam Jain, Chief Financial Officer, signed the intimation letter dated September 5, 2026.

Agenda Highlights

The AGM agenda includes ordinary and special business items requiring shareholder approval.

Ordinary Business

• Adoption of Audited Standalone and Consolidated Financial Statements for FY26.
• Reappointment of Mr. Manish Shahra as Managing Director. He retires by rotation and offers himself for reappointment. Mr. Shahra holds a 4.45% stake in the company (12,34,390 equity shares) as on March 31, 2026.

Special Business

• Cost Auditor Remuneration: Ratification of remuneration for M/s. K.G. Goyal & Co., Cost Accountants, for FY27. The approved fee is ₹30,000 plus GST and out-of-pocket expenses.
• Related Party Transaction: Approval for continuing material related party transactions with material subsidiary Revera Milk & Foods Private Limited (RMFPL). The company seeks consent to extend corporate guarantees for credit facilities obtained by RMFPL from banks/financial institutions up to an aggregate amount of ₹100 crore. This facility is valid from the conclusion of the 50th AGM until the 54th AGM (expected in 2030).

Subsidiary Transaction Details

Anik Industries holds a 92.747% equity stake in RMFPL. The proposed corporate guarantee of up to ₹100 crore represents 69.41% of the company's annual consolidated turnover of ₹144.06 crore for FY26. The transaction is considered material as it exceeds 10% of the annual consolidated turnover.

The existing corporate guarantee provided towards financial facilities to RMFPL stands at ₹89.41 crore. The new resolution allows for an aggregate limit of ₹100 crore. The company charges a commission of 0.25% per annum for these guarantees. In case of invocation, Anik Industries plans to take over the management of RMFPL based on its majority stake to recover monies.

RMFPL is solvent and operating on a going concern basis. Its net worth declined slightly over the last three years:

There have been no defaults on borrowings by RMFPL in the last three financial years. The lender did not require a credit rating for RMFPL while providing financial facilities.