Kanoria Chemicals & Industries announced the voting results for its 66th Annual General Meeting held on September 2, 2026. The company confirmed that all proposed resolutions were passed with the requisite majority.

The meeting, conducted via video conferencing and e-voting, saw participation from 15,196 shareholders on record as of August 26, 2026. A total of 96 shareholders attended through video conferencing, comprising six from the promoter group and 90 public shareholders.

Voting Details

The company engaged Amit Choraria & Co., Chartered Accountants, as the scrutinizer for the e-voting process in compliance with Section 108 of the Companies Act, 2013 and SEBI Listing Regulations. National Securities Depository Limited (NSDL) provided the e-voting facility.

Key Resolutions

Shareholders approved the adoption of audited financial statements for the fiscal year ended March 31, 2026. The board also secured approval for the re-appointment of Hemant Kumar Khaitan as a director retiring by rotation.

Additionally, members passed a special resolution to re-appoint Suhana Murshed as an independent director for a five-year term effective June 29, 2026. The final agenda item involved ratifying the remuneration of cost auditors for FY27.

What the Numbers Show

Promoter group shareholders held 3,25,06,880 shares and cast votes representing 98.66% of outstanding shares across all resolutions. Public non-institutional shareholders, holding 1,11,18,658 shares, contributed only 0.08% of total votes polled, indicating low retail engagement relative to promoter dominance.

Kanoria Chemicals & Industries concluded its 66th Annual General Meeting (AGM) on September 2, 2026. The meeting was held via Video Conferencing/Other Audio-Visual Means in compliance with SEBI and MCA regulations.

The company shared its AGM presentation with shareholders, revealing a significant turnaround in financial performance for FY26. Consolidated operating revenue rose 30% to ₹98,143 crore from ₹75,431 crore in FY25. Net profit swung to ₹11,319 crore from a loss of ₹10,815 crore the previous year.

Financial Performance

The improved results were driven by higher operating efficiencies and volumes. Standalone operating revenue increased by 29% to ₹87,534 crore, while EBITDA grew 52% to ₹8,158 crore. EBITDA margins expanded to 9.3% from 7.9% in FY25.

The standalone entity reported an exceptional item representing a non-cash impairment loss of investments in APAG Holding AG, its erstwhile subsidiary. Additionally, the company benefited from a negative tax impact of ₹214.3 crore due to the reversal of Deferred Tax under the 'New Tax Regime'.

Subsidiary and Discontinued Operations

APAG Holding AG ceased to be a subsidiary during the year, with its results shown under Discontinued Operations. This segment included a gain on loss of control of ₹976.5 crore. Kanoria Africa Textiles PLC delivered stronger performance with operating revenue up 40% to ₹1,060.8 crore and EBITDA increasing over 14 times to ₹192.5 crore.

Meeting Proceedings

Rajya Vardhan Kanoria, Chairman, presided over the meeting. He introduced the Board of Directors and key management personnel participating via video conference. The directors present included:

• Meeta Makhan, Non-executive Independent Director and Chairperson of the Audit Committee
• Sidharth Kumar Birla, Non-executive Independent Director and Chairman of the Nomination & Remuneration Committee
• Suhana Murshed, Non-executive Independent Director and Chairperson of the Stakeholders' Relationship Committee
• Madhuvanti Kanoria, Non-executive Non-Independent Director and Chairperson of the Corporate Social Responsibility Committee
• Saumya Vardhan Kanoria, Whole-Time Director
• Sumanta Chaudhuri, Non-executive Independent Director
• Hemant Kumar Khaitan, Non-executive and Non-Independent Director

Nirmal Kumar Nolkha, Group Chief Financial Officer, and Pratibha Jaiswal, Company Secretary, also attended. The statutory auditors, Singhi & Co., secretarial auditors, MR & Associates, and scrutinizer Amit Choraria were present to oversee the process.

Resolutions Approved

The AGM transacted both ordinary and special business items. Remote e-voting was available from August 30, 2026, at 9:00 am to September 1, 2026, at 5:00 pm. Members participating in the VC could also vote during the meeting.

The following resolutions were passed:

Pratibha Jaiswal confirmed that the requisite quorum was present and the meeting was conducted in order. The Chairman noted that the reports of the Statutory Auditors and Secretarial Auditor for the year ended March 31, 2026, contained no qualifications or adverse remarks.

Future Outlook

The company outlined its 'Vision 2030' roadmap aimed at sustainable growth. Key initiatives include diversification into specialty chemicals such as Triacetin and Penta Derivatives, which are expected to be commissioned shortly. The firm is actively pursuing capacity addition in Formaldehyde and Resin while continuing cost reduction programs.

Promoters are contributing ₹49.5 crore through a 7% Non-Convertible Redeemable Preference Shares (NCRPS) issue. However, the company highlighted threats from geopolitical situations and high tariffs as potential headwinds.