Avro India Limited shareholders approved all four resolutions proposed at the 30th Annual General Meeting held on September 30, 2026. The meeting, conducted via video conferencing, saw significant voting participation with 69,445,449 shares cast for the adoption of financial statements.

The scrutinizer’s report confirmed that ordinary and special resolutions passed with the requisite majority. Key approvals included the re-appointment of Anita Aggarwal as Whole Time Director and changes in the designations of Sahil Aggarwal and Nikhil Aggarwal. The meeting concluded at 2:56 pm after reviewing remote e-voting and live e-voting results.

Voting outcomes on key resolutions

The adoption of audited financial statements received strong support, with 80.58% of votes polled in favour. However, public non-institutional investors showed notable dissent, voting against this resolution in significant numbers compared to institutional holders who unanimously opposed it.

Directorship changes approved

Shareholders approved two special resolutions altering the leadership structure. Sahil Aggarwal’s designation was changed from Managing Director to Whole Time Director, while Nikhil Aggarwal was elevated from Whole Time Director to Managing Director. These changes reflect a shift in executive roles within the furniture manufacturer.

What the Numbers Show

A distinct divergence emerged between institutional and retail sentiment. Public institutions voted 100% against the re-appointment of Anita Aggarwal and the adoption of financial statements. In contrast, promoter group members voted 100% in favour of all resolutions. This split highlights a clear divide where institutional investors expressed dissatisfaction with governance or performance metrics, while promoters maintained full support for management decisions.

The total number of shareholders as on the record date of September 23, 2026, stood at 10,326. Remote e-voting commenced on September 27, 2026, and ended on September 29, 2026, facilitating broad participation ahead of the virtual meeting.

Avro India Limited has scheduled its 30th Annual General Meeting for September 30, 2026, reporting a 38.49% rise in FY26 standalone net profit to ₹4.21 crore.

The company intimated the web link for the FY26 Annual Report and AGM notice on September 8, 2026, in compliance with SEBI LODR Regulations 30 and 36(1)(b). The report is accessible via the company website for shareholders who have not registered email addresses with the Registrar or Depository Participants.

AGM and voting schedule

The AGM agenda includes adoption of audited financial statements for FY26, re-appointment of Mrs. Anita Aggarwal as a director retiring by rotation, and two special resolutions to redesignate Mr. Sahil Aggarwal from Managing Director to Whole Time Director and Mr. Nikhil Aggarwal from Whole Time Director to Managing Director, both effective September 30, 2026. Remote e-voting opens September 27, 2026 at 9:00 am and closes September 29, 2026 at 5:00 pm. The register of members will remain closed from September 24 to September 30, 2026 (both days inclusive).

The meeting will be conducted through Video Conferencing/Other Audio-Visual Means pursuant to MCA and SEBI circulars, with e-voting facilitated by NSDL. Mr. Lalit Chaturvedi of M/s Chaturvedi & Company has been appointed as Scrutinizer.

Leadership redesignation

The board's explanatory statement notes that the redesignation of Mr. Sahil Aggarwal to Whole Time Director is intended to enable focused supervision of the company's recycling subsidiary, Avro Recycling Limited. Mr. Nikhil Aggarwal's elevation to Managing Director is aimed at strengthening executive oversight of day-to-day operations, sales and marketing. There is no change in tenure, remuneration or other material terms for either director.

FY26 financial performance

The company reported strong financial results for the year ended March 31, 2026. Standalone revenue from operations rose to ₹90.99 crore from ₹78.32 crore in FY25, a growth of 16.18%. Standalone net profit after tax grew 38.49% to ₹4.21 crore from ₹3.04 crore. On a consolidated basis, total income stood at ₹103.68 crore and net profit at ₹4.60 crore for FY26.

Offline sales contributed ₹86.16 crore (approximately 94.69% of revenue) and online sales ₹4.83 crore (approximately 5.31%) in FY26. The board has not recommended any dividend for FY26, choosing to retain profits for future growth.

Subsidiary and strategic developments

During FY26, Avro India incorporated Avro Recycling Limited as a wholly owned subsidiary on May 14, 2025, focused exclusively on recycling of plastic scrap. The company invested ₹39,76,21,872 in the subsidiary via subscription of 82,83,789 equity shares. The subsidiary recorded a turnover of ₹637.52 lakhs and profit after tax of ₹58.76 lakhs for the period ended March 31, 2026. The company also launched Operation Shuddhi on March 10, 2026, a nationwide plastic waste recycling initiative, and introduced upcycling technology that converts mixed-colour polymers into high-quality feedstock.

The board also approved a split of equity shares from ₹10 per share to ₹1 per share, which was approved by shareholders in an EGM on April 18, 2026, with the new ISIN INE652Z01025 effective from May 5, 2026.