Asian Tea & Exports AGM approves leadership transition, Sunil Garg named MD
- Asian Tea & Exports Ltd held its 40th AGM on September 28, 2026, via VC/OAVM
- Hariram Garg voluntarily stepped down as MD to become Chairman and Non-Executive Director
- Sunil Garg appointed as the new Managing Director through an ordinary resolution
- Audited financial statements for FY26 were adopted by shareholders
*this image is generated using AI for illustrative purposes only.
Asian Tea & Exports Limited concluded its 40th Annual General Meeting (AGM) on September 28, 2026, approving significant changes to its board composition. The meeting, conducted via Video Conference and Other Audio-Visual Means (VC/OAVM), saw the voluntary stepping down of Hariram Garg as Managing Director and the appointment of Sunil Garg in his place.
Hariram Garg will continue with the company as Chairman and Non-Executive Director. This transition was ratified through a Special Resolution passed during the AGM. The proceedings were chaired by Mr. Hariram Garg, with 48 members attending the virtual session.
Key resolutions passed
The shareholders adopted the audited standalone and consolidated financial statements for the financial year ended March 31, 2026. Additionally, Mrs. Rama Garg was reappointed as a director retiring by rotation. Akhil Kumar Manglik was reappointed as a Non-Executive Independent Director for a further term.
The agenda items transacted during the meeting included:
- Adoption of financial statements for FY26.
- Reappointment of Mrs. Rama Garg.
- Approval of Hariram Garg’s transition from MD to Chairman.
- Appointment of Sunil Garg as Managing Director.
- Reappointment of Akhil Kumar Manglik as Independent Director.
Board attendance and governance
The meeting was attended by the full board, including Non-Executive Directors Sunil Garg and Rama Garg, and Independent Directors Akhil Kumar Manglik, Rajnish Kumar Kansal, and Kuldeepak Bansal. Raunak Garg served as Chief Financial Officer, while Priyarup Mukherjee acted as Company Secretary and Compliance Officer.
Statutory auditor Mahadev Agarwal from Agarwal Kejriwal & Co., secretarial auditor Puja Pujari from M/s Puja Pujari & Associates, and internal auditor Yash Arya from M/s Yash & Associates were also present. Ms. Puja Pujari served as the scrutinizer for the e-voting process.
Voting and e-voting details
Voting results are pending the receipt of the Scrutinizer’s Report, which is expected within two working days. Remote e-voting was available from September 25 to September 27, 2026. An additional 15-minute window was provided after the meeting for members who had not cast their votes remotely.
Two out of four registered speakers participated in the Q&A session, with their queries addressed by Sunil Garg. Unanswered queries from absent speakers will be responded to post-meeting.
Historical Stock Returns for Asian Tea & Exports
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.97% | -1.19% | -4.38% | -5.76% | -5.76% | -5.76% |
How will Sunil Garg's new leadership strategy differ from Hariram Garg's tenure, particularly regarding Asian Tea & Exports' export market expansion plans?
What impact might the leadership transition have on the company's upcoming capital allocation decisions and dividend policy for FY27?
Are there anticipated changes in the company's operational efficiency or cost management structures under the new Managing Director?
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