Bazel International held its 44th Annual General Meeting (AGM) on September 30, 2026, approving key corporate actions including the implementation of a new employee stock option plan and the appointment of statutory auditors.

The meeting, conducted at the company’s registered office in New Delhi, saw members adopt both standalone and consolidated financial statements for the financial year ended March 31, 2026. The Chairman noted that there were no qualifications or adverse remarks in the reports of the Statutory Auditors, Krishan Rakesh & Co., or the Secretarial Auditors, Meenu G. & Associates.

Resolutions Passed

Members voted to appoint M/S G. Anshul & Associates, Chartered Accountants, as the new Statutory Auditor of the company. Additionally, Ms. Sriparna Upadhyay was re-appointed as a Director retiring by rotation under the articles of association.

A significant governance update involved the introduction of an equity-linked incentive scheme. The shareholders approved the "Bil Employee Stock Option Plan 2026" (BAZEL ESOP 2026) through a trust route. This plan authorizes the granting of employee stock options to employees and directors of the company, as well as employees of subsidiary companies.

Board Changes and Withdrawn Items

The AGM addressed changes in the board composition. Mr. Mayank Ahuja was appointed as a Non-Executive, Non-Independent Director. However, a proposed resolution for the appointment of Mr. Kawal Singh as a Non-Executive Independent Director was withdrawn. The Chairman informed members that Mr. Singh had resigned from his directorship effective September 28, 2026, prior to the meeting date. Consequently, votes cast on this item were disregarded by the scrutinizer.

Members also ratified increases in the authorized equity share capital and approved further increases within limits previously sanctioned by shareholders.

Meeting Logistics

The meeting was presided over by Chairman Pankaj Dawar. Key managerial personnel present included Chief Financial Officer Manish Kumar Gupta and Company Secretary Himanshi. Remote e-voting facilities were provided from September 27 to September 29, 2026, in compliance with SEBI regulations.

Bazel International has deferred the issuance of sweat equity shares to two key executives. The company will not seek shareholder approval for these matters at its 44th Annual General Meeting (AGM) scheduled for September 30, 2026.

Book Closure and AGM Details

The register of members and share transfer books will remain closed from September 24, 2026 to September 30, 2026. This closure is in compliance with Section 91 of the Companies Act, 2013, to determine shareholders eligible for the meeting. The 44th AGM is scheduled for September 30, 2026 at 11:00 am at the company’s registered office in New Delhi.

The company notified the Bombay Stock Exchange on September 7, 2026 regarding the book closure and submitted its Annual Report for FY26 in compliance with Regulation 30 and Regulation 34 of the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015.

Deferred Sweat Equity Issues

The Board of Directors decided to defer the following matters originally considered during the Board meeting on September 5, 2026. Consequently, these items will not appear in the notice for the 44th AGM:

• Issuance of sweat equity shares to Mr. Mayank Ahuja, Non-Executive Director, under Section 54 of the Companies Act, 2013 read with the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021.
• Issuance of sweat equity shares to Mr. Manish Kumar Gupta, Chief Financial Officer, under the same regulations.

Other Resolutions

The 44th AGM will proceed with other ordinary and special business items. Key resolutions include:

• Adoption of standalone and consolidated financial statements for FY26.
• Re-appointment of Mrs. Sriparna Upadhyay as a director retiring by rotation.
• Appointment of M/s G. Anshul & Associates as Statutory Auditors for five years.
• Appointment of Mr. Kawal Singh as Non-Executive Independent Director and Mr. Mayank Ahuja as Non-Executive Non-Independent Director.
• Ratification of increases in authorized equity share capital.
• Approval of the "BIL Employee Stock Option Plan 2026" through a trust route.

Financial Performance Context

For FY26, Bazel International reported a standalone profit after tax of ₹1,01,256.29 lakh, down from ₹1,44,545.87 lakh in FY25. Total income rose to ₹4,82,614.94 lakh from ₹4,07,245.02 lakh. The deferred sweat equity issues do not impact these reported financial figures but may influence future capital structure dynamics once approved.