Garodia Chemicals Limited shareholders unanimously adopted the audited financial statements for FY26 and approved key board appointments during its 34th Annual General Meeting held on September 30, 2026. The resolutions passed with 100% votes in favor, reflecting strong promoter support and minimal public dissent.

The meeting, conducted via video conferencing in compliance with MCA and SEBI circulars, saw the adoption of the Board of Directors' report and auditors' reports for the fiscal year ended March 31, 2026. The voting results indicate a high concentration of promoter interest, with the Promoter and Promoter Group holding 52,61,247 shares out of the total outstanding equity.

Key Resolutions Passed

Shareholders approved three ordinary resolutions, all passing with unanimous consent from those who voted:

1. Adoption of audited financial statements for FY26.
2. Reappointment of Ravindra Subhash Salunkhe (DIN: 06753149) as Managing Director, retiring by rotation.
3. Appointment of Sarita Subhash Salunkhe (DIN: 11684409) as Non-Executive Non-Independent Director.

Voting Pattern and Shareholding Structure

The voting data reveals a distinct pattern in shareholder participation across different categories. While the total valid votes cast were 52,63,157, the distribution highlights the dominance of the promoter group in governance matters.

Notably, for the reappointment of the Managing Director and the appointment of the new Non-Executive Director, the Promoter and Promoter Group abstained from voting, likely due to their declared interest in these specific agenda items. Consequently, the 1,910 votes cast were entirely from Public Non-Institutional shareholders. This contrasts sharply with the adoption of financial statements, where the Promoter Group cast 50,00,000 votes, representing 95.03% of their holding.

Appointment Details for Sarita Subhash Salunkhe

The appointment of Sarita Subhash Salunkhe was formalized following her initial designation as an Additional Director on August 14, 2026. The shareholder approval regularizes her position as a Non-Executive Non-Independent Director liable to retire by rotation.

According to disclosures filed with BSE on October 1, 2026, Sarita Subhash Salunkhe is the mother of Ravindra Subhash Salunkhe, the company's Managing Director. The filing confirms she is not debarred from holding office by any SEBI order or other authority. Her profile indicates a broad understanding of general business and administrative matters, with the board expecting her to contribute insights and guidance in her new role.

What the Numbers Show

The divergence in voting participation between the financial statement adoption and director appointments underscores the regulatory framework governing related-party transactions. The Promoter Group's decision to abstain from voting on director appointments involving themselves or family members aligns with standard corporate governance practices to avoid conflict of interest. Meanwhile, their overwhelming vote in favor of financial statements ensures the smooth passage of routine business, indicating no public opposition to the company's reported performance or management's stewardship during FY26.

Garodia Chemicals Limited has scheduled its 34th Annual General Meeting (AGM) for Wednesday, September 30, 2026. The meeting will be held via video conferencing, with proceedings deemed to take place at the company's registered office in Mumbai.

The primary agenda involves routine board approvals and a significant restructuring of the directorship composition. Shareholders will vote on the adoption of audited financial statements for FY26 and the reappointment of the Managing Director.

Financial Performance Turnaround

The company reported a significant shift in its financial standing for FY26. Total income reached ₹4,05,88,068, driven entirely by other income as revenue from operations remained nil due to suspended manufacturing activities. Consequently, the company posted a profit before tax of ₹3,91,66,910, marking a sharp reversal from the loss of ₹20,76,622 in the preceding year.

Non-current borrowings fell significantly to ₹31,73,513 from ₹4,81,86,955 in the previous year, reflecting debt reduction efforts under the resolution plan. The net worth improved to (₹28,04,365) from (₹4,69,71,275).

Board Resolutions and Director Appointments

The notice outlines three key resolutions to be passed by ordinary resolution through electronic voting. The first item requires shareholders to receive, consider, and adopt the audited financial statements for the fiscal year ended March 31, 2026, along with the reports of the Board of Directors and auditors.

The second resolution concerns the reappointment of Ravindra Subhash Salunkhe (DIN: 06753149) as Managing Director. He retires by rotation but is eligible and has offered himself for reappointment. Ravindra Subhash Salunkhe holds 50,00,000 shares in the company.

New Director Appointment

A special business item proposes the appointment of Sarita Subhash Salunkhe (DIN: 11684409) as a Non-Executive Non-Independent Director. She was initially appointed as an Additional Director on August 14, 2026, and holds office until this AGM. Upon approval, she will be liable to retire by rotation.

Sarita Subhash Salunkhe is the mother of Ravindra Subhash Salunkhe. The Board cited her broad understanding of general business and administrative matters as beneficial to the company. She does not currently hold any shares in Garodia Chemicals Limited.

Meeting Logistics and Voting

The AGM will be conducted via Video Conferencing (VC) or Other Audio Visual Means (OAVM) without physical presence, in compliance with Ministry of Corporate Affairs circulars. The meeting is scheduled for 4:00 pm IST.

Remote e-voting will be facilitated by National Securities Depository Limited (NSDL). The voting window opens at 9:00 am on Sunday, September 27, 2026, and closes at 5:00 pm on Tuesday, September 29, 2026. The cut-off date for determining eligible members is Wednesday, September 23, 2026.

Shareholders holding shares in demat mode can vote using their depository login credentials. Physical shareholders must use their folio numbers. Proxy appointments are not available for this meeting, though body corporates may appoint authorized representatives.