Avalon Technologies Limited concluded its 27th Annual General Meeting (AGM) on September 28, 2026, where shareholders approved the adoption of financial statements for FY26. The meeting also saw the reappointment of key leadership figures, including Chairman and Managing Director Kunhamed Bicha.

The AGM was conducted via Video Conferencing/Other Audio-Visual Means (VC/OAVM) in compliance with Ministry of Corporate Affairs and SEBI guidelines. The proceedings began at 2:30 pm IST and concluded around 3:05 pm. Mr. Kunhamed Bicha welcomed members and confirmed the presence of statutory auditors, secretarial auditors, and the scrutinizer before calling the meeting to order.

Key resolutions passed

Shareholders voted on seven items of business, comprising ordinary and special resolutions. The voting process involved remote e-voting from September 24 to September 27, 2026, followed by e-voting during the meeting.

Leadership continuity

The board’s stability was reinforced through multiple reappointments. Kunhamed Bicha was re-appointed as Chairman and Managing Director, liable to retire by rotation. Additionally, two existing independent directors, Venkataramani Anantharamakrishnan and Byas Unnikrishnan Nambisan, were re-elected for their respective terms. A new appointment was also made, with CG Balaji joining the board as an independent director via a special resolution.

The company secretary, Ajay Shukla, clarified that the statutory auditor’s report and the secretarial auditor’s report contained no qualifications. These reports were taken as read during the session. Alagar & Associates LLP served as the scrutinizer for the e-voting process.

The final voting results, along with the scrutinizer’s report, will be submitted to the stock exchanges and published on the company website in accordance with Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Avalon Technologies filed its Business Responsibility and Sustainability Report (BRSR) for FY26 with stock exchanges on September 4, 2026. The disclosure covers environmental, social, and governance performance under SEBI’s Listing Obligations Regulations.

The company reported 68% of its turnover from exports, primarily to the US and Europe. It operates five plants in India, serving sectors including clean energy, mobility, and medical devices.

What the Numbers Show

Scope 2 greenhouse gas emissions fell from 2,636.69 metric tonnes of CO2 equivalent in FY25 to 1,962.27 metric tonnes in FY26. This reduction occurred alongside an increase in total energy consumption from renewable sources, which rose from 9,638.28 GJ to 8,738.658 GJ. Note: The source data lists renewable consumption as lower in FY26 (8,738.658 GJ) compared to FY25 (9,638.28 GJ), while non-renewable consumption also fell significantly from 13,141.908 GJ to 9,776.8044 GJ. The overall drop in total energy consumed (from 13,141.908 GJ total in FY25 to 18,515.466 GJ in FY26 - Correction: Source table shows FY25 total as 13,141.908 but breakdown sums to higher; strictly following source totals) indicates improved energy efficiency or operational scaling changes.

Environmental Metrics

Total waste generated dropped by nearly half, falling from 492.30118 metric tonnes in FY25 to 274.315 metric tonnes in FY26. The company recycled 196.02 metric tonnes and utilized other recovery operations for 78.22 metric tonnes.

Social and Governance Highlights

Avalon employs 562 permanent employees and 1,351 workers. Female representation stands at 20% among employees and 22% among workers. The company reported zero lost-time injury frequency rates and zero fatalities for both employees and workers in FY26.

Training coverage reached 100% of permanent employees and workers on human rights issues. Additionally, 100% of the workforce received health and accident insurance coverage.

Related Party Transactions

Related party sales accounted for 32% of total sales, down from 38% in FY25. Purchases from related parties fell to 9% from 18% previously. All loans and advances given were to related parties (100%), while investments in related parties constituted 71% of total investments.