Confidence Petroleum India Limited shareholders voted in favour of all 11 resolutions presented at the company's 32nd Annual General Meeting (AGM), held on September 30, 2026. The meeting was conducted via video conferencing and other audio-visual means.

The agenda included the adoption of financial statements for FY26, the declaration of a final dividend, and several related-party transactions. All resolutions were passed with the requisite majority as per the scrutinizer's report submitted to the stock exchanges.

Key Resolutions Passed

The shareholders approved the following key items:

• Financial Statements: Adoption of the audited financial statements and reports of the Board and Auditors for the financial year ended March 31, 2026.
• Dividend: Declaration of a final dividend of ₹0.10 (10%) per equity share for FY26.
• Director Re-appointment: Re-appointment of Elesh Khara as a director liable to retire by rotation.
• Auditor Appointment: Re-appointment of M/s. Katariya and Munot, Chartered Accountants, as Joint Statutory Auditors.
• Articles of Association: Alteration and adoption of the amended and restated Articles of Association.

Related Party Transactions

A significant portion of the voting involved material related-party transactions. The promoter group abstained from voting on these resolutions due to their interest in the matters. The following entities were subject to shareholder approval:

• Sneha Petroleum
• Gaspoint Petroleum India Limited
• Halol Cylinders Private Limited
• Uma Gaspoint Bottling Private Limited
• Taraam LPG Bottling Private Limited

Voting Participation and Scrutinizer Report

The AGM saw participation from 37 shareholders via video conferencing, comprising 7 public shareholders and 30 non-institutional public shareholders. The total number of shareholders on record as of September 23, 2026, was 98,180.

Siddharth Sipani & Associates, Company Secretaries, served as the scrutinizer for the remote e-voting and electronic voting during the meeting. The report confirmed that no invalid votes were cast across any resolution.

What the Numbers Show

The voting data reveals a distinct divergence in institutional sentiment regarding specific related-party transactions. While institutions voted unanimously in favor of most resolutions, they opposed the transactions with Gaspoint Petroleum India Limited and Halol Cylinders Private Limited. For both these entities, institutional investors cast 821,555 votes against, representing 79.33% of the institutional votes polled on those specific items. Despite this significant institutional dissent, the resolutions passed due to the overwhelming support from non-institutional public shareholders and the exclusion of promoter votes from the calculation.

Confidence Petroleum India has scheduled an analyst and investor meeting on September 28, giving stakeholders a direct engagement opportunity with the company's management.

Meeting details

The company has planned the analyst and investor meeting for September 28. Such interactions typically serve as a platform for the management to address queries from the investment community and provide updates on business developments.