Kalyani Forge Limited shareholders unanimously approved all five resolutions proposed at its 47th Annual General Meeting held on September 21, 2026. The voting results, disclosed via a regulatory filing on September 23, 2026, show that each resolution received more than 99.99% of the valid votes cast in favour.

The meeting, conducted through video conference and other audio-visual means, focused on adopting the audited financial statements for FY26 and declaring the final dividend. Mrs. Rohini G. Kalyani, Executive Chairperson, presided over the meeting, while Managing Director Viraj Kalyani presented operational highlights. The proceedings complied with the Companies Act, 2013, and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Voting outcomes by resolution

Electronic voting was enabled for all items, with remote e-voting facilities provided in advance. The scrutinizer’s report confirmed that no invalid votes were recorded across any of the agenda items. The specific voting breakdown for the key resolutions is detailed below:

Shareholder participation details

The company reported a total of 7,992 shareholders on the record date of September 14, 2026. Participation was primarily driven by remote e-voting, as physical attendance was dispensed with under MCA circulars.

• Promoters and Promoter Group: 20 members attended via video conferencing, casting 2,137,689 votes in favour for all resolutions.
• Public Shareholders: 10 members attended via video conferencing. Among public non-institutional investors, 227 votes were polled, with 225 in favour and 2 against.
• Institutional Investors: No institutional shareholders cast votes during the meeting period.

Board governance and scrutiny

The voting process was scrutinized by CS Ishan M. Padhye of PGBP & Associates LLP, appointed as the scrutinizer to ensure fair e-voting processes. The report highlights that all electronic data remains in safe custody until the minutes are signed. Key directors, including Independent Directors Swaminathan Vishwanathan, Ajay Tandon, and Jeevan Mahaldar, attended the meeting virtually. The statutory audit function was represented by M/s M. P. Chitale.

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.