Gallard Steel has scheduled its 11th Annual General Meeting (AGM) for Wednesday, September 30, 2026. The meeting will address key corporate governance matters, including the appointment of new statutory auditors, independent directors, and a remuneration increase for the Chief Operating Officer.

The company submitted its annual report for the fiscal year ended March 31, 2026, to the Bombay Stock Exchange alongside the AGM notice. The meeting will be conducted through Video Conferencing or Other Audio-Visual Means (OAVM) at 11:00 am from the registered office in Indore, Madhya Pradesh, complying with Regulation 34(1) of the SEBI (LODR) Regulations, 2015.

AGM Agenda Items

Shareholders will vote on ordinary business items, including adopting audited financial statements and reappointing retiring director Hakimuddin Ghantawala. Special business resolutions focus on board composition and management compensation.

Board Appointments

The board seeks approval for two Non-Executive Independent Directors: Praveen Sinha and Habib Khandwala. Both were appointed as Additional Directors on September 8, 2026, and will serve five-year terms from that date.

Auditor Appointment

The company proposes appointing M/s Anil Kamal Garg & Co., Chartered Accountants as Statutory Auditors. This fills a casual vacancy left by M/s S.N. Gadiya & Co., which resigned due to disagreements over professional fees and scope of services. The new auditors will hold office for five consecutive financial years.

Management Remuneration

An ordinary resolution will seek shareholder consent under Section 188(1)(f) of the Companies Act, 2013, to raise Chief Operating Officer Kaid Johar Kalabhai’s monthly remuneration from ₹2,00,000 to up to ₹5,00,000, effective October 1, 2026. Kalabhai is a relative of a director.

E-Voting and Book Closure Details

Pursuant to Regulation 44 of the SEBI (LODR) Regulations, 2015, and Section 108 of the Companies Act, 2013, remote e-voting facilities will be provided by CDSL. CS Ishan Jain is appointed as the scrutinizer for the voting process.

Trapti Jain, Company Secretary and Compliance Officer, signed the submission on behalf of the board.

Gallard Steel has announced the resignation of its statutory auditor, S.N. Gadiya & Co., effective September 8, 2026. The firm cited an inability to reach mutually acceptable terms regarding professional fees and the scope of services as the primary reason for stepping down.

The company confirmed that there are no material concerns raised by the auditor regarding management conduct. The resignation follows negotiations where parties could not align on financial and operational terms for the engagement.

Auditor Details

S.N. Gadiya & Co., Chartered Accountants (FRN: 002052C), was appointed during the Annual General Meeting held on September 30, 2024. Their term was scheduled to expire in the calendar year 2029, corresponding to the fiscal year ending March 31, 2029.

Regulatory Disclosure

The intimation was issued pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company stated that no instances were observed where information requested by the auditor was withheld by management. Consequently, disclosures related to management-imposed limitations or lack of sufficient audit evidence were marked as not applicable.

Trapti Jain, Company Secretary and Compliance Officer, signed the disclosure filed with BSE Ltd. The company noted that previous audit reports were issued without significant impact from missing information.