Federal-Mogul Goetze shareholders approve all five AGM resolutions

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Reviewed by
Ashish TScanX News Team
Key Highlights
  • All five AGM resolutions approved with requisite majority
  • Promoter group voted 100% in favour of all items
  • Public institutions voted 90.69% against director commission payout
  • Total votes polled represented 75.3% of paid-up capital
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Federal-Mogul Goetze (India) Limited shareholders approved all five resolutions proposed at the 71st Annual General Meeting held on September 24, 2026. The voting results, disclosed in the consolidated scrutinizer's report submitted on September 28, 2026, confirm the adoption of FY26 financial statements and the re-appointment of directors Rishi Verma and Jason Wesley Johnson.

The meeting, conducted via video conferencing, saw a total of 41,890,937 votes polled across all resolutions, representing approximately 75.3% of the company's total paid-up equity share capital. The scrutinizer, Abhishek Bansal, certified that the voting process complied with the Companies Act, 2013, and SEBI (LODR) Regulations, 2015.

Voting outcomes on key resolutions

The following table summarizes the voting results for the ordinary resolutions passed during the meeting:

Resolution Description Votes For Votes Against % In Favour
Res 1 Adoption of FY26 Financial Statements 41,890,781 156 99.99%
Res 2 Re-appointment of Rishi Verma 41,884,002 6,935 99.98%
Res 3 Re-appointment of Jason Wesley Johnson 41,883,699 7,238 99.98%
Res 4 Ratification of Cost Auditor Remuneration 41,877,797 13,140 99.96%
Res 5 Payment of Commission to Non-Executive Directors 41,749,648 141,289 99.66%

All resolutions were approved with the requisite majority. The promoter group, holding 41,715,454 shares, voted in favour of every resolution. Public institutional shareholders voted unanimously for the first four items but showed significant dissent on the fifth resolution regarding director commissions.

Governance and attendance details

The meeting was chaired by Rajesh Jain, Chairman and Independent Director. Directors present included Rayasam Venkataramaiah, Nalini Jolly, Amit Mittal (Managing Director & CFO), Rishi Verma, and Gangasagar Neminath Hemade (CEO). Non-Executive Directors Varun Dua and Jason Wesley Johnson sought leave of absence.

Deloitte Haskins & Sells LLP attended as Statutory Auditors, while Deepika Gera Company Secretaries served as Secretarial Auditors. Abhishek Bansal acted as the Scrutinizer for the e-voting process, which was conducted through NSDL's platform. The remote e-voting period ran from September 21 to September 23, 2026, with additional e-voting available during the live meeting.

Shareholder participation trends

A notable divergence appeared in public shareholder sentiment regarding executive compensation. While public institutions voted 90.69% against the payment of commission to Non-Executive Directors, public non-institutional shareholders voted 60.48% against the same measure. Despite this high level of dissent from the public minority, the overwhelming support from the promoter group ensured the resolution's passage.

The total paid-up equity share capital as of the cut-off date (September 17, 2026) stood at ₹55.63 crore, divided into 5,56,32,130 equity shares of ₹10 each. A total of 50,253 shareholders were on record, with 91 attendees participating via video conferencing.

Historical Stock Returns for Federal Mogul Goetze

1 Day5 Days1 Month6 Months1 Year5 Years
-2.41%-3.79%-1.54%-1.00%-6.51%+60.36%

How might the significant dissent from public institutional shareholders on non-executive director commissions influence future governance reforms or shareholder activism at Federal-Mogul Goetze?

What strategic implications does the unanimous promoter support for FY26 financials suggest for the company's upcoming capital allocation or dividend policy decisions?

Given the high e-voting participation rate, will the company face increased pressure to enhance transparency in executive compensation disclosures in subsequent reporting cycles?

Federal-Mogul Goetze files FY26 sustainability report with exchanges

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Reviewed by
Anirudha BScanX News Team
Key Highlights
  • Federal-Mogul Goetze filed its FY26 BRSR with stock exchanges on September 2, 2026
  • Automotive components manufacturing accounted for 96.56% of total turnover
  • Combined Scope 1 and 2 GHG emissions totaled 66,327.99 metric tonnes of CO2e
  • Renewable electricity constituted 35.21% of total electricity consumption
  • Employee turnover rate fell to 10.07% from 16.24% in the previous fiscal year
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Federal-Mogul Goetze (India) Limited has submitted its Business Responsibility and Sustainability Report (BRSR) for the financial year ended March 31, 2026. The filing was made to the Bombay Stock Exchange and the National Stock Exchange on September 2, 2026, pursuant to Regulation 34(2)(f) of the SEBI Listing Regulations.

The report covers standalone disclosures for the entity, which operates as a Tier 1 supplier of automotive components, including pistons, piston rings, and valve train parts. These products accounted for 96.56% of the company's turnover during the reporting period.

Operational Footprint

Federal-Mogul Goetze maintains three manufacturing plants and seven offices across India. The company serves customers in 27 Indian states and union territories, alongside international markets in 19 countries. Exports contributed 8.4% to the total turnover.

Workforce Data

As of March 31, 2026, the company employed a total workforce comprising employees and workers. The gender distribution highlights a significant majority of male staff across both categories.

Category Total Male Female
Employees 548 533 (97.26%) 15 (2.74%)
Workers 4,764 4,565 (95.82%) 199 (4.18%)

The turnover rate for permanent employees stood at 10.07% in FY26, down from 16.24% in the previous year. Permanent workers saw a turnover rate of 10.00%, an increase from 2.42% in FY25.

Environmental Metrics

The report discloses energy consumption and greenhouse gas emissions data for its manufacturing facilities. Renewable electricity accounted for 35.21% of total electricity consumption. Combined Scope 1 and Scope 2 GHG emissions were recorded at 66,327.99 metric tonnes of CO2 equivalent.

Metric FY26 FY25
Total Energy Consumption (GJ) 6,56,686 6,04,494
Energy Intensity (GJ/Million INR) 34.13 34.17
Scope 1 Emissions (tCO2e) 6,243.49 5,658.65
Scope 2 Emissions (tCO2e) 60,084.39 59,827.80

Water withdrawal increased to 4,68,673 kilolitres from 4,53,296 kilolitres in the prior year, primarily sourced from groundwater and third-party supplies. Waste sent to landfill represented just 0.22% of total waste generated.

What the Numbers Show

The data reveals a divergence between energy consumption growth and emission intensity. While total energy consumption rose by approximately 8.6% from FY25 to FY26, the energy intensity per rupee of turnover remained virtually flat at 34.13 GJ/Million INR compared to 34.17 GJ/Million INR. This suggests that revenue growth outpaced the increase in energy usage, maintaining operational efficiency despite higher absolute energy inputs.

Historical Stock Returns for Federal Mogul Goetze

1 Day5 Days1 Month6 Months1 Year5 Years
-2.41%-3.79%-1.54%-1.00%-6.51%+60.36%

How might Federal-Mogul Goetze's low renewable energy adoption rate of 35.21% impact its competitiveness against global OEMs with stricter net-zero supply chain mandates?

What strategic initiatives is the company planning to address the sharp increase in permanent worker turnover from 2.42% to 10.00% in FY26?

Given that 96.56% of turnover comes from traditional automotive components, how prepared is the company for the accelerating shift towards electric vehicles and potential demand contraction for pistons and valve trains?

More News on Federal Mogul Goetze

1 Year Returns:-6.51%