Kaveri Seed Company Limited shareholders approved all resolutions at the 39th Annual General Meeting held on September 29, 2026. The voting results, disclosed to stock exchanges, confirm the adoption of FY26 financial statements and the reappointment of key leadership figures.

The meeting, conducted via Video Conferencing, saw the ratification of interim dividends and the continuation of G.V. Bhaskar Rao as Chairman and Managing Director. Despite age-related regulatory thresholds, shareholders voted in favor of his reappointment alongside other executive directors.

Leadership continuity secured

Shareholders passed special resolutions to reappoint key leadership figures despite age-related regulatory thresholds. G.V. Bhaskar Rao was reappointed as Chairman and Managing Director, continuing his role notwithstanding his attainment of seventy years. Similarly, Mrs. G. Vanaja Devi was reappointed as Whole-time Director under similar provisions.

Additionally, C. Vamsheedhar and C. Mithun Chand were reappointed as Whole-time Directors. These appointments ensure stability in the company's executive structure for the coming fiscal period.

Voting and procedural compliance

The company facilitated e-voting for all agenda items, commencing on September 26, 2026, and concluding on September 28, 2026. L. Dhanamjai Reddy, a Practicing Company Secretary, served as the scrutinizer for the voting process. Results of the e-voting were scheduled for announcement within 48 hours of the meeting's conclusion.

Detailed voting outcomes

The consolidated scrutinizer's report provides a breakdown of votes cast across different shareholder categories. The promoter group voted unanimously in favor of all resolutions. Institutional and public shareholders showed varying degrees of dissent on specific leadership appointments, though all resolutions secured the requisite majority.

What the numbers show

The voting data reveals a distinct pattern in shareholder sentiment regarding leadership continuity. While financial statements and dividend ratifications received near-unanimous support from institutional investors (100% in favour), the special resolutions concerning the reappointment of senior management beyond the age limit of seventy years faced higher dissent. Specifically, approximately 5% of total votes polled against the reappointments of G.V. Bhaskar Rao and Mrs. G. Vanaja Devi, compared to less than 0.2% dissent on routine director rotations. This suggests that while institutional investors largely align with the promoter group's strategic direction, there is measurable scrutiny on governance aspects related to long-tenured leadership.

Kaveri Seed Company has received a notice of hearing from the Income Tax Appellate Tribunal (ITAT), Hyderabad, regarding its income tax appeal for Assessment Year 2022-23. The matter is scheduled for hearing on October 15, 2026.

The appeal, filed by the Income Tax Department under Appeal No. ITA2422/Hyd/2026, challenges an order passed by the Commissioner of Income Tax (Appeals). The tribunal notice was received by the company on September 18, 2026.

Background of the Dispute

The core issue in the appeal relates to a tax demand of ₹56.21 crore raised by the tax authorities. This demand was primarily based on the disallowance of exemption claimed by the company on agricultural income for AY 2022-23.

Previously, the Commissioner of Income Tax (Appeals) reviewed the case and allowed the company’s claim. In an order dated April 7, 2026, the appellate authority held that the income in question qualified as agricultural income, thereby deleting the entire demand.

Company Stance

Kaveri Seed Company stated it is evaluating the notice and will take all necessary steps to defend the matter before the tribunal. The company believes it has a strong case on merits.

In its disclosure to stock exchanges pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company indicated it does not expect any material adverse impact at this stage.

Key Details

The disclosure serves as a continuation of earlier intimations provided by the company regarding the receipt of the demand notice and the subsequent appellate order.