Kalyani Forge Limited held its 47th Annual General Meeting on September 21, 2026, through video conference and other audio-visual means. The meeting focused on adopting the audited financial statements for the fiscal year ended March 31, 2026, and declaring the final dividend.

Mrs. Rohini G. Kalyani, Executive Chairperson, presided over the meeting. She welcomed shareholders and confirmed the presence of the requisite quorum. Managing Director Viraj Kalyani presented highlights of the previous year, outlining the company's vision and operational overview. The proceedings were conducted in compliance with the Companies Act, 2013, and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Agenda items addressed

Shareholders considered several ordinary and special business items. The primary resolutions included the adoption of financial statements, declaration of final dividend, and the re-appointment of a director retiring by rotation. Additionally, members were asked to ratify the remuneration payable to the cost auditor for FY27 and approve commission payments to non-executive and independent directors.

Board participation and governance

The meeting saw active participation from the board and key statutory auditors. M/s M. P. Chitale represented the statutory audit function, while M/s PGBP & Associates LLP served as the scrutinizer to ensure fair e-voting processes. The following directors attended via video conferencing:

• Gaurishankar N. Kalyani: Non-Executive Director
• Viraj G. Kalyani: Managing Director
• Swaminathan Vishwanathan: Independent Director and Chairman of Audit Committee
• Ajay Tandon: Independent Director and Chairman of Nomination and Remuneration Committee
• Jeevan Mahaldar: Independent Director and Chairman of Stakeholders Relationship Committee

Voting and conclusion

Electronic voting was enabled for all resolutions, with remote e-voting facilities provided in advance. Members present during the meeting also had the opportunity to cast votes electronically at the end of the session. The scrutinizer's report and voting results are to be submitted within two working days as per regulatory norms. The meeting concluded at 11:45 am.

Kalyani Forge filed its annual report for FY26 and the notice for its 47th Annual General Meeting (AGM) with stock exchanges on August 31, 2026. The filing confirms the meeting date and outlines key resolutions for shareholder approval.

The Board of Directors has recommended a final dividend of ₹4 per equity share, subject to member approval at the AGM. This recommendation follows the company's financial performance for the fiscal year ended March 31, 2026.

Meeting Details

The 47th AGM is scheduled for Monday, September 21, 2026, at 11:00 am. The meeting will be held via Video Conferencing or Other Audio Visual Means (VC/OAVM), in compliance with Ministry of Corporate Affairs circulars permitting remote meetings.

Shareholders holding shares as of the cut-off date of August 21, 2026, are eligible to receive the annual report and participate in the proceedings. Remote e-voting is facilitated by MUFG Intime India Pvt. Ltd., with the voting window opening on September 18 and closing on September 20.

Agenda Highlights

The notice outlines specific items for shareholder consideration under ordinary business:

• Adoption of audited financial statements for FY26 along with reports from the Board and Auditors.
• Declaration of final dividend on equity shares for the fiscal year ended March 31, 2026.
• Re-appointment of Mr. Gaurishankar N. Kalyani as a director, retiring by rotation.

Special Business Resolutions

Members will vote on two special business items requiring ordinary resolutions:

1. Ratification of remuneration payable to M/s. R C K & Co., Cost Accountants, Pune, for conducting the cost audit for FY27. The approved fee is ₹1,25,000 excluding taxes and out-of-pocket expenses.
2. Approval for payment of commission to Non-Executive Directors and Independent Directors for FY26. The aggregate commission shall not exceed 1% of net profits calculated under Section 198 of the Companies Act, 2013.

Operational and Financial Context

The annual report highlights a strategic focus on profitability over volume. Revenue from operations remained stable at ₹234.64 crore, reflecting the deliberate phase-out of approximately ₹40 crore in low-margin, non-fit business. EBITDA rose to ₹31.58 crore, representing a margin expansion to 13.3% from 11.1% in FY25. Profit After Tax reached ₹9.32 crore, the highest in approximately 14 years.

What the Numbers Show

The stability in revenue alongside a significant rise in EBITDA margin indicates a successful portfolio rationalization strategy. By shedding low-margin legacy business worth ₹40 crore, the company improved its bottom line without expanding top-line growth, demonstrating enhanced operational efficiency and capital discipline.

Shareholder Compliance Updates

In a separate communication dated September 2, 2026, the company reminded shareholders that it is mandatory to furnish KYC details (PAN, bank account, email, mobile number, address, signature, and nomination) for securities held in physical form, as per SEBI Master Circular No. HO/38/13/(4)2026-MIRSDPOD/1/4298/2026 dated February 6, 2026.

Holders of physical securities who have not updated their KYC details will be eligible to lodge grievances or avail service requests only after furnishing complete documents. Furthermore, any payments including dividends, interest, or redemption amounts for such folios will be payable through electronic mode only, effective from April 1, 2024, upon submission of complete KYC documents.