Baroda Extrusion Ltd shareholders approved the appointment of Alpesh Kanugo as Managing Director and Meera Kanugo as Executive Director during the 35th Annual General Meeting held on September 24, 2026.

The meeting, conducted via video conference from Vadodara, also ratified the appointment of Nilesh Shah as an Independent Director. Members adopted the audited financial statements for the year ended March 31, 2026, alongside reports from the Board and Auditors.

Leadership restructuring

The special business agenda focused on formalizing the company's executive leadership structure. Alpesh Kanugo was appointed as Managing Director by way of a change in designation from Executive Director. This appointment is for a term of five years with effect from May 29, 2026, and he remains liable to retire by rotation.

Meera Kanugo was appointed as Whole-Time Director designated as an Executive Director. Her tenure spans five consecutive years commencing August 12, 2026. The appointment aligns with Sections 196, 197, and 203 of the Companies Act, 2013.

Nilesh Shah joined the board as an Independent Director effective June 11, 2026. His appointment follows the recommendation of the Nomination and Remuneration Committee and approval by the Board of Directors under Section 16(1)(b) of the Act.

Governance and compliance updates

Shareholders passed ordinary resolutions to ratify the appointment of Divyesh Vagadiya & Cost Accountants as Cost Auditor for FY26. The firm is based in Vadodara and holds Firm Registration No. 102628.

A special resolution was also considered regarding the enhancement of borrowing limits under Section 180(1)(c) of the Companies Act, 2013. The scrutinizer’s report on voting results will be submitted to the stock exchange in compliance with Regulation 44 of the Listing Obligations and Disclosure Requirements (LODR).

Key resolutions summary

The meeting commenced at 11:00 am and concluded at 11:41 am. E-voting facilities were provided to members, with Swati Bhatt & Co. serving as the scrutinizer for the poll.

Baroda Extrusion Limited filed its 35th Annual General Meeting (AGM) notice and annual report for FY26 on September 1, 2026. The meeting is scheduled for September 24, 2026, at 11:00 am via Video Conference or Other Audio-Visual Means (OAVM).

The company has dispatched the notice to shareholders, enabling remote e-voting through National Securities Depository Limited (NSDL). The e-voting window opens on September 21, 2026, at 9:00 am and closes on September 23, 2026, at 5:00 pm. Shareholders registered as on the cut-off date of September 17, 2026, are eligible to vote.

Key Agenda Items

The AGM will transact several ordinary and special business items:

• Re-appointment of Director: Shareholders will vote on the re-appointment of Mr. Alpesh Kanugo (DIN: 02501280) as a Director, who retires by rotation. He seeks re-appointment as Chairman and Managing Director for a term of five years effective from May 29, 2026.
• Appointment of Executive Director: The meeting will approve the appointment of Mrs. Meera Kanugo (DIN: 05354078) as Whole-Time Director designated as Executive Director for five years, effective August 12, 2026. Her monthly salary is set at ₹1,50,000.
• Cost Auditor Ratification: The remuneration of M/s. Divyesh Vagadiya & Associates for conducting the cost audit for FY27 will be ratified. The proposed fee is ₹57,000 plus applicable taxes and out-of-pocket expenses.
• Independent Director Appointment: A special resolution will be passed to appoint Mr. Nilesh Shah (DIN: 11763708) as an Independent Director for five years, effective May 29, 2026.
• Borrowing Limits: A special resolution under Section 180(1)(c) of the Companies Act, 2013, seeks approval to borrow up to ₹200 crore, exceeding the aggregate of paid-up share capital and free reserves.

Financial Performance Overview

For FY26, Baroda Extrusion reported revenue from operations of ₹18,251.12 lakh, an increase from ₹15,905.39 lakh in FY25. Profit before tax stood at ₹981.13 lakh compared to ₹2,192.06 lakh in the previous year, which included exceptional income of ₹1,883.94 lakh from debt settlement. Net profit for FY26 was ₹733.43 lakh.

The company did not declare any dividend for FY26. The Board noted that no dividend is payable per share for this period. The company’s total equity increased to ₹2,493.95 lakh from negative equity of ₹(1,970.34) lakh in FY25, driven by a preferential allotment of 4,53,33,316 equity shares at ₹8.25 per share during the year.

Meeting Details

Shareholders may contact Ms. Vaishali Joshi, Company Secretary, at +91 9016203113 or email cs@barodaextrusion.com for queries regarding e-voting. The AGM notice and annual report are available on the company website www.barodaextrusion.com and the NSDL e-voting platform.