Diana Tea Company Limited concluded its 115th Annual General Meeting on September 11, 2026. The meeting, held via video conferencing, saw shareholders approve key corporate actions including the issuance of equity convertible warrants on a preferential basis.

The meeting commenced at 3:00 pm and concluded at 4:30 pm IST. A total of 168 members attended the proceedings, including four members from the promoter and promoter group. Mr. Sandeep Singhania, Chairman of the Board, presided over the meeting after being proposed by Mrs. Sarita Singhania, Whole Time Director and Chief Financial Officer.

Key Resolutions Passed

Shareholders approved several ordinary and special resolutions during the AGM. The board's report, independent auditor's report, and financial statements for the fiscal year ended March 31, 2026 were taken as read.

Governance Observations

The Secretarial Audit Report contained an observation regarding a delay in disclosure under Regulation 30 of the SEBI Listing Regulations. The management's explanation regarding this observation was taken on record during the meeting. The Independent Auditor's Report did not contain any qualifications, reservations, adverse remarks, or disclaimers.

Mrs. Sarita Singhania retires by rotation and offered herself for re-appointment as a director. She was also re-appointed as Whole-Time Director with her remuneration fixed by the shareholders. Other directors attending the meeting included Mr. Devang Singhania, Mr. Kiran Nanoo Desai, Mr. Navin Nayar, and Mr. Ravindra Suchanti.

Voting Process

The remote e-voting facility was open from September 8, 2026, at 9:00 am to September 10, 2026, at 5:00 pm. Members who had not voted remotely could cast their votes electronically during the AGM via Central Depository Services (India) Limited. CS Mohan Ram Goenka served as the scrutinizer for the voting process. The voting results will be submitted to the stock exchanges within the applicable statutory timelines.

Diana Tea Company Limited has scheduled its 115th Annual General Meeting (AGM) for Friday, September 11, 2026, at 3:00 pm IST. The meeting will be conducted through Video Conferencing or Other Audio Video Means (VC/OAVM) in compliance with the Companies Act, 2013, and SEBI Listing Regulations.

The company disclosed this information in a filing under Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The move aligns with General Circular No. 20/2020 dated May 5, 2020, as extended by General Circular No. 03/2025 dated September 22, 2025. The Notice convening the AGM along with the Annual Report for the Financial Year 2025-26 has been sent electronically to members whose email addresses are registered with the Company or their respective Depository Participants.

Financial Results for FY26

The AGM will consider the adoption of audited financial statements for the financial year ended March 31, 2026. The company reported a significant turnaround in profitability during the period.

The board attributed the improvement to higher crop harvests (34.74 lakh kg vs 28 lakh kg in FY25) and better sales realization (₹248.50/kg vs ₹236.40/kg). The company reduced bought leaf intake from 2 lakh kg to 50,000 kg to focus on quality.

Preferential Issue of Warrants

A key special resolution seeks shareholder approval for the preferential allotment of up to 4,074,075 Equity Convertible Warrants to promoters and promoter group entities. The total consideration for the issue is ₹11,00,00,025 (₹11 crore).

The warrants are issued at ₹27 each, including a premium of ₹22 per warrant. Each warrant carries an entitlement to subscribe for one fully paid-up equity share of face value ₹5. The conversion option is exercisable within 18 months from the date of allotment. Proceeds will be utilized for investment in Bolt Ironworks Private Limited via Compulsorily Convertible Debentures (CCDs), primarily for land acquisition and infrastructure development in Raipur, Chhattisgarh.

Other Agenda Items

The meeting will also address the re-appointment of Mrs. Sarita Singhania as Whole-Time Director and fix her remuneration. Additionally, shareholders will vote on enhancing the limit for creation of mortgage or charge on assets from ₹40 crore to ₹100 crore under Section 180(1)(a) of the Companies Act, 2013, and approving threshold limits for loans and investments under Section 186.

Key Dates and Eligibility

Shareholders must note the following critical dates regarding voting rights and book closure:

• Cut-off date for e-Voting eligibility: Friday, September 4, 2026
• Book closure period: Saturday, September 5, 2026, to Friday, September 11, 2026 (both days inclusive)
• AGM Date: Friday, September 11, 2026

The remote e-voting period shall commence on Tuesday, September 8, 2026, at 9:00 am and end on Thursday, September 10, 2026, at 5:00 pm. The facility for e-voting will also be made available during the AGM for members who have not cast their votes through remote e-voting. Members who have already exercised their voting rights through remote e-voting prior to the AGM may attend the AGM through VC/OAVM but shall not be entitled to cast their votes again during the AGM.

Regulatory Compliance

The intimation was issued by Namrata Saraf, Company Secretary and Compliance Officer of Diana Tea Company Limited. The circular confirms adherence to Section 91 of the Companies Act, 2013, and relevant SEBI guidelines governing virtual general meetings. All documents referred to in the Notice and the Explanatory Statement thereto shall be available for inspection by the Members of the Company electronically, without payment of any fees, up to and including the date of AGM.

What the Numbers Show

The shift from a ₹458.44 lakh loss in FY25 to a ₹175.43 lakh profit in FY26 highlights the impact of operational efficiency and volume growth. Revenue grew 24.3% year-on-year, driven by a 24% increase in own crop yield. This operational improvement coincides with the board's decision to raise capital via convertible warrants, signaling confidence in future growth projects despite the recent profitability turnaround.