Aro Granite Industries shareholders approved all seven resolutions at its 38th Annual General Meeting held on September 11, 2026. The voting process, scrutinized by S Panigrahi & Associates, saw high participation from promoter groups across all agenda items.

Voting Participation Overview

The company had 11,700 shareholders on the record date of September 4, 2026. The total paid-up share capital stood at ₹15.3 crore, divided into 153 lakh equity shares of ₹10 each.

Voting occurred through remote e-voting and e-voting on the day of the AGM via video conference. A total of 158 members participated in the voting process:

• 147 members participated via remote e-voting.
• 11 members participated in e-voting on the day of the AGM.

Promoter group attendance was recorded through video conferencing, with 4 promoter shareholders attending virtually. Among public shareholders, 75 attended the meeting via video conference.

Board Re-appointments

Shareholders approved the re-appointment of key board members through ordinary and special resolutions. All resolutions related to board appointments received overwhelming support from the promoter group, which holds 62.86 lakh shares.

Key Appointments Approved

• Mrs. Sujata Arora: Re-appointed as Director retiring by rotation (Ordinary Resolution).
• Mr. Sunil Kumar Arora: Re-appointed as Managing Director for three years effective April 1, 2027 (Special Resolution).
• Mr. Sahil Arora: Re-appointed as Whole-Time Director for three years effective November 1, 2026 (Special Resolution).

For these resolutions, the promoter group voted in favor with 100% support. Public shareholders also showed strong backing, with over 98% of votes polled in favor for each appointment.

Related Party Transactions

The AGM approved ordinary resolutions for related-party transactions involving unsecured loans from promoters. These resolutions required promoter abstinence from voting.

Since promoters abstained from voting on these specific resolutions, the total votes polled dropped significantly to approximately 4.4 lakh shares, representing roughly 2.88% of outstanding shares. Despite lower participation, public shareholders approved all loan-related transactions with nearly 98% support.

Financial Statements Adoption

The adoption of audited standalone financial statements for the year ended March 31, 2026, was passed as an ordinary resolution. This resolution received 67.11 lakh votes in favor out of 67.20 lakh votes polled, translating to a 99.87% approval rate. Only 8,467 votes were cast against the resolution.

What the Numbers Show

The voting data reveals a distinct bifurcation in shareholder engagement based on resolution type. While promoter-led resolutions (board appointments) saw massive participation with over 67 lakh votes polled, related-party transaction resolutions saw participation drop to under 4.4 lakh votes due to mandatory promoter abstention. However, the consistency in approval rates—hovering around 98-99% across both categories—indicates broad alignment between promoter interests and public shareholder sentiment.

Aro Granite Industries has approved the slump sale of its Jaipur Special Economic Zone (SEZ) business unit to United Stones Private Limited for a consideration of ₹67 crore. The Board of Directors sanctioned the deal on September 7, 2026, subject to shareholder approval through a postal ballot and clearance from regulatory authorities.

The transaction involves the disposal of the undertaking located at Mahindra World City in Jaipur, Rajasthan, on a going concern basis. The company stated the move aims to optimize its strategic portfolio, unlock trapped economic capital, and mitigate segment-specific risks. Proceeds from the sale will be allocated toward expanding high-margin core business verticals, reducing loan costs, and reinforcing general working capital.

Transaction Details

The buyer, United Stones Private Limited, is an independent third-party entity. The company confirmed that neither the buyer nor its promoters or key managerial personnel belong to Aro Granite’s promoter group. Consequently, the deal does not qualify as a related-party transaction under Section 188 of the Companies Act, 2013 or Regulation 23 of the SEBI LODR Regulations.

Financial Impact

The Jaipur SEZ unit contributed ₹11.96 crore in revenue during the last financial year, accounting for 16.27% of the company’s total consolidated turnover of ₹73.51 crore. As of March 31, 2026, the asset book value of the unit stood at ₹48.19 crore, representing 27.70% of the company’s audited net worth of ₹173.94 crore.

Because the investment exceeds 20% of the company’s net worth, the proposed sale falls under Section 180(1)(a) of the Companies Act, 2013 and Regulation 37A of the SEBI LODR Regulations. This necessitates a special resolution from shareholders via postal ballot, including compliance with special public voting thresholds.

What the Numbers Show

The disparity between the revenue contribution and the asset base highlights the capital-intensive nature of the disposed unit. While the Jaipur facility generated only 16.27% of total turnover, it accounted for 27.70% of the company’s net worth. Selling this segment allows Aro Granite to divest a disproportionately large asset base relative to its top-line contribution, potentially improving overall capital efficiency.