Hindustan Composites appoints R M Mimani as secretarial auditor for 5 years
- Appointed R M Mimani & Associates LLP as Secretarial Auditors for 5 years (FY27-FY31)
- Declared dividend of ₹2 per share for FY26, representing 40% on face value
- Reappointed Pawan Kumar Choudhary as Non-Executive Director with revised remuneration
- All seven ordinary resolutions passed with over 99.99% majority support
*this image is generated using AI for illustrative purposes only.
Hindustan Composites appointed M/s. R M Mimani & Associates LLP as its Secretarial Auditors for a term of 5 consecutive years from FY27 to FY31. The appointment was approved by members during the company's 62nd Annual General Meeting held on September 29, 2026.
The meeting, conducted via Video Conferencing and Other Audio-Visual Means, also saw the declaration of a dividend of ₹2 per equity share for FY26. This payout represents a 40% rate on the face value of ₹5 per share. The session commenced at 11:45 am and concluded at 12:24 pm, with voting results declared the following day.
Key resolutions approved
Members passed several ordinary resolutions regarding financial statements, director appointments, and auditor engagements. The adoption of both standalone and consolidated audited financial statements for the year ended March 31, 2026, was approved without objections. Statutory Auditors Lodha & Co. LLP reported no qualifications or adverse remarks in their report.
| Item | Resolution Details |
|---|---|
| Dividend | Approved payment of ₹2 per share (40% on face value of ₹5) |
| Director Reappointment | Pawan Kumar Choudhary reappointed as Non-Executive Director |
| Independent Directors | Commission approval for Lalit Kumar Bararia, Preeti Agrawal, Rajan Dalal, and Snehal Muzoomdar |
| MD Remuneration | Revision in remuneration for Pawan Kumar Choudhary effective April 1, 2026 |
| Secretarial Auditor | Appointment of R M Mimani & Associates LLP for five years (FY27-FY31) |
Governance and attendance
The Board of Directors elected Pawan Kumar Choudhary as Chairman for the AGM. Other key personnel present included Chief Financial Officer Sunil Jindal and Company Secretary Arvind Purohit. Independent Directors Lalit Kumar Bararia, Snehal Muzoomdar, and Preeti Agrawal also attended the session.
The scrutinizer, Manish Baldeva of M Baldeva Associates, oversaw the e-voting process. Remote e-voting facilities were provided by Central Depository Services (India) Limited from September 26 to September 28, 2026. Final voting results are scheduled to be declared within two working days of the meeting's conclusion.
Voting outcome details
The Consolidated Scrutinizer's Report confirmed that all seven ordinary resolutions were passed with requisite majority. Promoters and promoter group members, holding 11,073,060 shares, voted in favor of all resolutions via remote e-voting. Public non-institutional shareholders, holding 3,693,576 shares, cast votes totaling 5,461 valid votes across the resolutions.
For the dividend declaration (Resolution No. 2), 99.9980% of the votes polled were in favor, with 226 votes against. For the reappointment of P. K. Choudhary (Resolution No. 3) and other governance matters (Resolutions 3-6), 99.9970% of votes polled were in favor, with 331 votes against. The appointment of secretarial auditors (Resolution No. 7) saw 99.9973% support.
Historical Stock Returns for Hindustan Composites
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.01% | +1.26% | -6.62% | +6.29% | -15.43% | +16.13% |
How will the five-year tenure of the new Secretarial Auditors influence Hindustan Composites' long-term compliance strategy and regulatory risk management?
What impact might the revised remuneration for Managing Director Pawan Kumar Choudhary have on the company's operating expenses and shareholder value in FY27?
Given the minimal dissenting votes from public shareholders, does this signal strong confidence in current management or potential apathy among minority investors?
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