KCP Sugar & Industries Corporation Ltd held its 31st Annual General Meeting (AGM) on September 24, 2026, via video conferencing. Shareholders approved all proposed resolutions, including a 10% dividend on equity shares and the reappointment of Vinod R. Sethi as Executive Director.

The meeting commenced at 11:00 am and concluded at 11:41 am. A quorum was established with 58 members participating virtually. The Chairman noted that the statutory auditor’s report and secretarial audit report were free from any qualifications or observations for the financial year ended March 31, 2026.

Resolutions passed

The board presented five items of business, comprising three ordinary resolutions under ordinary business and two items under special business. All resolutions were adopted by the members.

Board composition and governance

The Chairman introduced the board members and key managerial personnel present at the virtual meeting. The panel included Ms. Irmgard Velagapudi (Managing Director), Ms. Kiran Velagapudi (Executive Director), and several independent directors overseeing key committees such as Audit, Nomination and Remuneration, and Stakeholders Relationship.

Statutory Auditors B. Purushottam & Co., Cost Auditors SRR & Associates, and Internal Auditors Vimala & Pankaj were also represented. The company confirmed that registers of directors and contracts were available for inspection by members during the session.

Shareholder engagement

Four shareholders registered to speak, with two participating in the live question-and-answer session. The Chairman and Chief Financial Officer addressed the queries raised by these members. E-voting facilities remained open for 15 minutes post-meeting for members who had not yet cast their votes.

KCP Sugar & Industries has scheduled its 31st Annual General Meeting for September 24, 2026. The Board recommends a 10% dividend on the face value of equity shares for FY26.

The meeting will be conducted via Video Conference or Other Audio Visual Means (OAVM). Shareholders on record as of September 17, 2026, will be eligible to vote and receive the payout.

Key Agenda Items

The ordinary business includes adopting audited standalone and consolidated financial statements for the year ended March 31, 2026. Additionally, Mr. Vinod R. Sethi retires by rotation and seeks reappointment as a director.

Special business items require shareholder ratification:

• Minimum remuneration of ₹37,30,334 paid to Executive Director Ms. Kiran Velagapudi during FY25-26, marking the fourth year of inadequate profits in her tenure.
• Remuneration of ₹2,00,000 to M/s. SRR & Associates for conducting the cost audit for FY27.

What the Numbers Show

The ratification of minimum remuneration for Ms. Velagapudi highlights a sustained period of financial strain. As this payment falls in the fourth year of inadequate profits, it exceeds the standard three-year limit under Schedule V of the Companies Act, necessitating shareholder approval via special resolution.

Voting and Logistics

Remote e-voting opens on September 21, 2026, at 9:00 am and closes on September 23, 2026, at 5:00 pm. NSDL facilitates the voting process. The register of members remains closed from September 18 to September 24, 2026.

Institutional shareholders must submit board resolutions authorizing their representatives to vote. Dividend payments will be made electronically within 30 days of declaration.