Kesar Terminals & Infrastructure shareholders unanimously approved all six resolutions at its 18th Annual General Meeting (AGM) held on July 22, 2026, confirming the company's financial statements, dividend payout, and board appointments. The meeting, conducted via video conferencing, saw participation from 50 shareholders representing 58.06% of the outstanding voting equity. This strong shareholder backing underscores confidence in management's strategy despite a net loss of ₹3,274.82 Lakhs in FY26, driven by a one-time write-off on investment sales.

The scrutinizer, Dhrumil M. Shah of M/s. Dhrumil M. Shah & Co. LLP, issued his consolidated report on July 23, 2026, pursuant to Section 108 of the Companies Act, 2013 and Regulation 44 of the SEBI Listing Regulations. The e-voting process was managed by MUFG Intime India Private Limited. Votes were unblocked on July 22, 2026, in the presence of independent witnesses Devesh Nerurkar and Jatin Chopra.

Voting Results

All resolutions passed with 100% support from votes polled. The promoter group held 6,658,436 shares but did not vote on the related-party transaction resolution, as required by regulation. Public non-institutional shareholders voted on all items.

Key Resolutions

Shareholders confirmed the payment of an interim dividend of ₹0.50 per share and declared a final dividend of ₹1.25 per share for FY26, totaling ₹1.75 per equity share. This marks an increase from the previous year's dividend of ₹1.50 per share.

The Board also secured approval for the re-appointment of Natasha Harsh Kilachand as a Non-Executive Director, retiring by rotation. Additionally, shareholders passed special resolutions to re-appoint Harsh R. Kilachand as Whole-Time Director and to continue the directorship of Nilima Ashok Mansukhani as an Independent Director.

A material related-party transaction with Kesar Enterprises Limited was also approved. Under Regulation 23(4) of the Listing Regulations, interested promoters abstained from voting on this resolution, which was passed by public non-institutional shareholders holding 3,14,689 votes.

Operational Context

Despite the net loss, operational profit rose to ₹452.83 Lakhs from ₹440.04 Lakhs in the prior year. Revenue from operations increased marginally to ₹3,353.20 Lakhs from ₹3,278.28 Lakhs, aided by higher imports and better tank utilization. However, exports fell by 28% due to shifting customer preferences toward flexi and iso tanks over bulk exports. The company continues to face competition from a consortium of rivals with significant storage capacity in Kandla.

Kesar Terminals & Infrastructure has re-appointed Mrs. Natasha Harsh Kilachand and Shri Harsh R. Kilachand to its Board, effective July 22, 2026. The decisions were approved by shareholders at a meeting held on the same day. Shri Harsh R. Kilachand has been re-appointed as a Whole-Time Director designated as Executive Chairman for a period commencing December 20, 2026, up to March 31, 2031. Mrs. Natasha Harsh Kilachand, who retires by rotation, was re-appointed as she was eligible. The company also confirmed the continuation of Mrs. Nilima Ashok Mansukhani as an Independent Director.

The re-appointments were made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Shri Harsh R. Kilachand brings extensive experience, having joined Kesar Enterprises Ltd. in 1985 and serving as Executive Chairman of Kesar Terminals & Infrastructure Limited since the demerger of the Storage Division in 2010. Mrs. Natasha Harsh Kilachand offers expertise in branding, merchandising, and corporate identity programs, which strengthens the Board's strategic capabilities.

Director Profiles

Mrs. Nilima Ashok Mansukhani continues to contribute her expertise in taxation and governance. A retired Ex-Chief Commissioner of Income Tax, Mumbai, she topped the 1975 Civil Services Exams and served over 37 years in the Indian Revenue Service.

Key Disclosures