Dhampur Sugar Mills shareholders adopted the audited standalone and consolidated financial statements for the fiscal year ended March 31, 2026, during the 91st Annual General Meeting held on August 26, 2026. The meeting, conducted via video conferencing, also confirmed the payment of an interim dividend of ₹2.00 per equity share as the final dividend for the year.

The company reported improved operational and financial performance for FY26, driven by enhanced sugarcane quality, better sugar recovery, and higher sales volumes. Management highlighted lower costs in maize-based ethanol production as a key factor supporting margins. Additionally, the Chairman addressed strategic initiatives, including a proposed foray into the NBFC sector and exploration of value-added chemicals from bio-streams.

Key resolutions passed

Shareholders approved nine resolutions with requisite majorities. The adoption of annual accounts received overwhelming support, with 99.99% of valid votes cast in favor. The confirmation of the final dividend similarly secured 99.99% support.

The meeting also ratified the remuneration of cost auditors at ₹2.00 lakh plus taxes for FY27 and approved commission payments to non-executive independent directors, capped at 1% of net profits for FY26.

Executive remuneration and director appointments

Special resolutions regarding minimum remuneration for executive directors drew notable dissent compared to other agenda items. The proposal to pay minimum remuneration to Chairman Ashok Kumar Goel in case of inadequate profits during FY28 received 96.30% votes in favor, with 990,387 votes against. A similar resolution for Vice Chairman and Managing Director Gaurav Goel passed with 96.14% support, recording the same number of dissenting votes.

The board saw continuity in leadership roles. Subhash Pandey was re-appointed as Whole Time Director for a three-year term commencing September 25, 2026, with an annual remuneration of ₹80 lakh. Anuj Khanna was re-appointed as Non-Executive Independent Director for a five-year term effective June 7, 2026.

Strategic outlook and shareholder engagement

During the session, eleven members raised queries which were addressed by the management. The company emphasized its commitment to shareholder value through recent interim dividends and equity share buy-backs. The management reiterated its focus on identifying new growth opportunities beyond traditional sugar and ethanol operations, specifically targeting the NBFC sector and bio-based chemical derivatives.

Dhampur Sugar Mills confirmed the formal passing of all nine resolutions at its 91st Annual General Meeting held on August 26, 2026. The scrutinizer’s report, issued by M/s GSK & Associates on August 27, 2026, validates the e-voting outcomes for both ordinary and special business items.

The virtual meeting commenced at 3:00 pm and concluded at 4:47 pm. Ms. Aparna Goel, Company Secretary and Compliance Officer, presided over the proceedings. All directors were present, alongside Joint Statutory Auditors from Mittal Gupta & Co. and T R Chadha & Co. LLP, who attended remotely.

Operational Highlights

Mr. Ashok Kumar Goel, Chairman, briefed members on the company’s performance for FY26. He highlighted improved financial results driven by higher sugar sales volume, better realizations, and improved sugar recovery. The management also noted lower production costs for maize-based ethanol. Strategic initiatives discussed included a shift in sugarcane varietal mix to enhance quality and yield through advanced agronomy practices.

Goel further outlined steps to enhance stakeholder value, citing the declaration of an interim dividend, an equity share buy-back, and a proposed entry into the NBFC sector. The company is also exploring growth opportunities in value-added chemicals derived from bio streams. He addressed regulatory changes, including increases in the State Advised Price of sugarcane and adjustments to levy molasses obligations.

Voting Results Overview

Shareholders voted via remote e-voting facilitated by NSDL between August 22 and August 25, 2026. Eleven members raised queries during the session, addressed by Mr. Gaurav Goel, Vice Chairman and Managing Director. The audited standalone and consolidated financial statements for FY26 were adopted without qualifications.

Analytical Observation: Shareholder Dissent Patterns

While ordinary resolutions such as financial statement adoption and dividend confirmation saw near-unanimous support (>99.9%), special resolutions related to promoter remuneration attracted measurable dissent. Specifically, institutional investors voted against the remuneration packages for Chairman Ashok Kumar Goel and Vice Chairman Gaurav Goel at rates of 94.01% and 94.01% respectively of their polled votes. However, promoter group support remained absolute (100%), ensuring overall passage with 96.30% and 96.14% favourable votes respectively. This divergence highlights a split between institutional and promoter alignment on executive compensation structures, though it did not impact the final outcome.

The scrutinizer’s report confirms that all electronic data remains in custody until the Chairman approves the minutes.