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.

Anik Industries received a combined penalty of ₹23,600 from the Bombay Stock Exchange and National Stock Exchange for non-compliance with listing regulations. The fines relate to the quarter ended June 30, 2026.

The company disclosed the penalties in a filing dated August 26, 2026. The exchanges levied the amounts on August 25, 2026, citing violations of Regulation 17(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Penalty Details

The regulatory action involves equal fines from both stock exchanges. The breakdown is as follows:

Regulation 17(2) mandates that listed entities disclose price-sensitive information to stock exchanges simultaneously. The violation occurred for the quarter ended June 30, 2026.

Board Response

The Board of Directors reviewed the incident in a meeting held on August 27, 2026. It stated that the non-compliance was not intentional but resulted from health issues faced by Gautam Jain, Chief Financial Officer. These issues led to the cancellation of the Board Meeting scheduled for May 30, 2026.

The company emphasized its commitment to complying with regulations in spirit and letter. It noted that steps have been taken to strengthen internal processes to prevent such inadvertent delays in the future.

Operational Impact

Anik Industries stated that the financial penalty has no material impact on its operations or other activities. The total outflow of ₹23,600 is nominal relative to typical corporate expenditures for listed entities of this scale.