Damodar Industries saw a reduction in promoter holding following the sale of 75,001 equity shares by Calves N Leaves Initiatives Private Limited. The transaction took place in the open market on September 21, 2026.

Calves N Leaves Initiatives Private Limited is identified as a person acting in concert with the promoter and belongs to the promoter group. The disposal reduced its stake in the company from 1.344% to 1.022% of the total share capital.

Transaction details

The sale was executed through the open market mechanism. The acquirer and seller details are as follows:

Holding pattern changes

Prior to the transaction, Calves N Leaves Initiatives Private Limited held 3,13,234 shares, representing 1.344% of the total voting capital. Following the sale of 75,001 shares, the remaining holding stands at 2,38,233 shares.

The table below outlines the pre- and post-transaction holdings:

The total equity share capital of Damodar Industries remained unchanged at 11,65,00,000 shares representing 100.00% of the voting capital before and after the transaction. There were no warrants, convertible securities, or voting rights exercised otherwise than by shares involved in this disclosure.

Regulatory compliance

This disclosure was made under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The filing was signed by Aman Bhanani, Authorized Signatory for Calves N Leaves Initiatives Private Limited.

Damodar Industries Limited shareholders approved the company’s FY26 financial statements and cost auditor remuneration with near-unanimous support at its 38th Annual General Meeting on August 08, 2026. However, the re-election of Aditya Biyani as a director saw significant abstention from the promoter group, who held 16,340,234 shares but cast no votes on the resolution. The meeting, conducted via Video Conferencing/Other Audio Visual Means (VC/OAVM), also resulted in the appointment of Vishal N. Manseta as the scrutinizer for the e-voting process under Section 108 of the Companies Act, 2013.

The scrutinizer’s report, submitted to BSE and NSE in compliance with Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, detailed the voting patterns across three ordinary resolutions. Out of 8,093 shareholders on the record date of August 01, 2026, only 38 members attended the meeting via VC/OAVM, comprising 10 from the promoter group and 28 public shareholders. Remote e-voting was facilitated by MUFG Intime India Private Limited between August 5, 2026, and August 7, 2026.

Voting Results Breakdown

The adoption of the standalone financial statements for the fiscal year ended March 31, 2026, received overwhelming support. A total of 1,24,15,679 shares voted in favor, representing 99.95% of the votes cast, while only 5,602 shares (0.05%) voted against. Similarly, the resolution to fix remuneration for cost auditors for FY2026-27 passed with 1,24,15,675 shares in favor (99.95%) and 5,606 shares against (0.05%).

The most notable development occurred during the re-election of Aditya Biyani (DIN: 10304061). While the resolution passed with a requisite majority, the promoter group, which holds 70.13% of the company’s equity (16,340,234 shares out of 23,300,000 total), abstained from voting entirely. Only one promoter abstained from casting a vote, while none voted in favor or against. The resolution was carried by public non-institutional shareholders, who polled 48,281 votes, with 42,677 shares (88.39%) supporting the re-election and 5,604 shares (11.61%) opposing it.

Governance and Compliance

Arunkumar Biyani, Chairman, chaired the meeting which commenced at 11:30 A.M. and concluded at 12:27 P.M. The statutory auditor’s report and secretarial audit report, presented by Pramod Kumar Jain, were free of qualifications. Subrat Shukla, Company Secretary, confirmed that the quorum was present throughout the proceedings. The absence of promoter voting in the director’s re-election is a standard compliance measure under related-party transaction norms, ensuring independent shareholder approval for interested directors.

What This Means for Shareholders

The clean approval of financials and cost auditor fees reflects strong institutional confidence in Damodar Industries’ governance and reporting standards for FY26. The promoter abstention in Aditya Biyani’s re-election underscores strict adherence to regulatory norms regarding interested resolutions. With the board leadership retained and compliance audits clear, the company maintains operational continuity heading into FY27.