Josts Engineering Company shareholders passed all five resolutions at its 119th Annual General Meeting on September 18, 2026. The meeting approved the adoption of FY26 financial statements, dividend payouts, and key leadership re-appointments.

The gathering was conducted via video conferencing and other audio-visual means. Jai Prakash Agarwal, Chairman and Whole Time Director, presided over the session. Babita Kumari, Company Secretary, confirmed that the requisite quorum was present and statutory registers were available for electronic inspection. M/s Anubhuti Akshay & Associates served as the scrutinizer for the e-voting process.

Voting Results Overview

A total of 11,382 shareholders were on record as of the cut-off date of September 11, 2026. Of these, 46 shareholders attended the meeting through video conferencing: seven from the promoter group and 39 from the public category. Institutional holders did not participate in the voting process.

The promoter group held 5,694,478 shares, while public non-institutional holders held 6,126,215 shares. Public institutional holdings stood at 5,950 shares.

Key Resolutions Passed

Shareholders transacted items of ordinary and special business during the session. All resolutions were passed with the requisite majority. The primary agenda included the adoption of audited standalone and consolidated financial statements for the fiscal year ended March 31, 2026.

Leadership Continuity

The Board sought approval for key leadership tenures. Members voted to re-appoint Vishal Jain as Managing Director and Chief Executive Officer for five consecutive years, effective from October 4, 2026, to October 3, 2031. This resolution received support from 85.93% of polled votes.

Additionally, a special resolution was passed to re-appoint Jai Prakash Agarwal as Executive Chairman for a five-year term commencing April 1, 2027, and ending March 31, 2032. Mr. Agarwal also offered himself for re-appointment as a director retiring by rotation. Both leadership-related resolutions saw unanimous support from the promoter group but faced significant opposition from public non-institutional holders, who voted against by nearly 50%.

Governance and Compliance

The Company Secretary noted that there were no qualification remarks in the Statutory Auditors' or Secretarial Auditor's reports. Remote e-voting results were consolidated and submitted to stock exchanges for record. No invalid votes were cast in respect of any of the resolutions.

What the Numbers Show

The voting pattern reveals a distinct divergence between promoter and public non-institutional shareholders on governance matters. While promoters voted unanimously in favor of all resolutions, public non-institutional holders opposed the re-appointment of Jai Prakash Agarwal as director and Executive Chairman, as well as Vishal Jain as MD & CEO, with approximately 49.9% to 50.1% of their polled votes cast against. Despite this opposition, the substantial shareholding of the promoter group ensured the passage of all resolutions with over 85% support from total polled votes in each case.

Josts Engineering Company Limited has confirmed the schedule for its 119th Annual General Meeting (AGM) set for September 18, 2026. The Board of Directors has recommended a final dividend of ₹1.25 per equity share and a special dividend of ₹3.75 per share for FY26, subject to shareholder approval.

The company submitted its annual report for the financial year 2025-26 to the Bombay Stock Exchange on August 26, 2026. This filing was made pursuant to Regulation 34 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Newspaper advertisements containing the notice were published on August 27, 2026, in The Free Press Journal (English) and Navshakti (Marathi).

Dividend Recommendation

The Board, at its meeting held on May 19, 2026, recommended the dividends based on a face value of ₹1 per equity share. The final dividend represents 12.5% of the face value, while the special dividend represents 37.5%. If approved at the AGM, the total payout will be ₹5 per share.

The record date for determining entitlement to both the final and special dividends is fixed as September 11, 2026. The dividend payment is scheduled to be made on or before October 17, 2026.

Meeting and E-Voting Details

The 119th AGM will be conducted through Video Conferencing or Other Audio Visual Means (VC/OAVM) starting at 2:00 pm. Shareholders holding shares as on the cut-off date of September 11, 2026, are eligible to vote.

Remote e-voting facilities are provided by National Securities Depository Limited (NSDL). The remote e-voting period begins on September 15, 2026, at 9:00 am and ends on September 17, 2026, at 5:00 pm. Members who have not cast their votes remotely may vote during the meeting via the VC/OAVM facility.

Annual Report Distribution

Shareholders with registered email addresses received the annual report electronically on August 26, 2026. For those without registered emails, the company sent letters containing web-links and QR codes to access the document, in compliance with Regulation 36(1)(b) of the SEBI LODR Regulations. The documents are also available on the company's website and the NSDL e-voting portal.

Babita Kumari, Company Secretary (Membership No. A40774), issued the notice on behalf of the Board of Directors.