Borosil Ltd resubmits AGM voting results with corrected record date
- Borosil Ltd corrected the record date in AGM voting results from July 22, 2025, to September 17, 2026
- All resolutions passed, including ₹250 crore fund raise approval
- Statutory auditor re-appointment saw 4.9667% dissent
- Meeting held virtually on September 24, 2026
*this image is generated using AI for illustrative purposes only.
Borosil Limited has resubmitted the voting results for its 16th Annual General Meeting (AGM) held on September 24, 2026, to correct an inadvertent error in the record date disclosure. The company clarified that while the cut-off date was mistakenly mentioned as July 22, 2025, in the initial filing, the correct date is September 17, 2026. Apart from this correction, all other particulars and voting outcomes remain unchanged.
The original intimation dated September 25, 2026, confirmed that shareholders approved all proposed resolutions, including a significant proposal to raise funds through further issues of securities up to ₹250 crore. The meeting was conducted via Video Conference and Other Audio-Visual Means, commencing at 11:00 am and concluding at 12:05 pm. Remote e-voting had commenced earlier on September 21, 2026, and concluded on September 23, 2026.
Key Resolutions and Agenda Items
Shareholders reviewed both ordinary and special business items outlined in the notice dated August 14, 2026. The ordinary business focused on governance continuity and financial reporting, while the special business addressed capital structure and compensation adjustments.
| Business Type | Resolution Item | Status |
|---|---|---|
| Ordinary | Adoption of audited standalone and consolidated financial statements for FY26 | Passed |
| Ordinary | Re-appointment of Mr. Rajesh Kumar Chaudhary (DIN: 07425111) as director | Passed |
| Ordinary | Re-appointment of M/s. Chaturvedi & Shah LLP as Statutory Auditor | Passed |
| Special | Approval of Material Related Party Transactions with Borosil Scientific Limited | Passed |
| Special | Continuation of remuneration terms for Mr. Shreevar Kheruka, Managing Director | Passed |
| Special | Raising funds through further issue(s) of securities up to ₹250 crore | Passed |
| Special | Amendments to 'Borosil Limited - Employee Stock Option Scheme 2020' | Passed |
| Special | Secondary acquisition of shares through trust route for ESOS 2020 implementation | Passed |
| Special | Provision of money by the Company for purchase of its own shares by the trust | Passed |
Voting Results Overview
The Consolidated Scrutiniser's Report dated September 25, 2026, detailed the voting outcomes for each resolution. The total number of shareholders on record was 74,287. Voting rights were exercised in proportion to shareholding as on the cut-off date of September 17, 2026.
Ordinary Business Results
| Resolution Item | Votes in Favour (%) | Votes Against (%) |
|---|---|---|
| Adoption of FY26 Financial Statements | 99.9998% | 0.0002% |
| Re-appointment of Mr. Rajesh Kumar Chaudhary | 99.8753% | 0.1247% |
| Re-appointment of M/s. Chaturvedi & Shah LLP | 95.0333% | 4.9667% |
The re-appointment of the statutory auditor saw the highest dissent among ordinary resolutions, with 4.9667% of votes cast against it. In contrast, the adoption of financial statements received near-unanimous support.
Special Business Results
| Resolution Item | Votes in Favour (%) | Votes Against (%) |
|---|---|---|
| Material Related Party Transactions (Borosil Scientific) | 99.9946% | 0.0054% |
| Continuation of MD Remuneration (Mr. Shreevar Kheruka) | 99.7077% | 0.2923% |
| Fund Raise up to ₹250 Crore | 99.9998% | 0.0002% |
| Amendments to ESOS 2020 | 99.8973% | 0.1027% |
| Secondary Acquisition via Trust Route (ESOS) | 99.9992% | 0.0008% |
| Provision of Money for Trust Purchase (ESOS) | 99.9992% | 0.0008% |
Meeting Proceedings and Compliance
The meeting was chaired by Mr. Pradeep Kumar Kheruka, Chairman of the company. He briefed shareholders on business affairs and performance highlights for FY26. The requisite quorum was present, allowing the meeting to proceed to order. Mr. Dhruvil M. Shah of M/s. Dhruvil M. Shah & Co. LLP served as the scrutiniser to ensure a fair and transparent voting process.
For the resolution regarding Material Related Party Transactions with Borosil Scientific Limited, votes cast by promoters and promoter group were not considered, in compliance with Regulation 23(4) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This exclusion applies because the promoters are interested in the transaction.
The final e-voting results, including remote and during-meeting votes, along with the Consolidated Scrutiniser's Report, have been intimated to stock exchanges in compliance with Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Historical Stock Returns for Borosil
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -2.95% | -2.70% | +6.54% | -0.79% | -23.23% | 0.0% |
What specific strategic initiatives or capital expenditures will Borosil Limited prioritize with the newly approved ₹250 crore fundraising?
How will the amendments to the Employee Stock Option Scheme 2020 and the trust-based acquisition mechanism impact Borosil's future equity dilution and shareholder value?
Given the near-unanimous approval, what is the expected timeline for Borosil to execute the securities issuance and secure the ₹250 crore in funding?
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