Kisan Mouldings appoints statutory auditors for five years

Kisan Mouldings Limited shareholders have appointed M/s. AKGVG & Associates, Chartered Accountants, as the statutory auditors for a term of five years. The appointment is effective from the conclusion of the 37th Annual General Meeting held on July 17, 2026, until the conclusion of the 42nd AGM to be held in 2031. This decision was taken pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Auditor Profile and Scope

M/s. AKGVG & Associates (Firm Registration No. 018598N) is a firm providing assurance, taxation, advisory, and accounting support services. The firm employs over 250 professionals specializing in audit, taxation, transaction advisory, and outsourcing. It operates through nine offices across more than three countries, including member firms and channel partners.

Key Resolutions and Voting Outcomes

All resolutions presented during the AGM were passed with the requisite majority. The total number of votes polled stood at 84,168,932, representing 70.46% of the total outstanding shares. In addition to the statutory auditor appointment, members ratified the remuneration payable to cost auditors for the financial year 2026-27.

Summary of Resolutions

Resolution Description	Status	Votes in Favor	Votes Against
Appointment of Statutory Auditors M/s. AKGVG & Associates	Passed	84,168,906	26
Ratification of Cost Auditor Remuneration for FY27	Passed	84,168,906	26

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.29%	-4.65%	-32.54%	-13.14%	-40.84%	+24.62%

Apollo Pipes Limited has approved a Scheme of Arrangement to amalgamate Kisan Mouldings Limited and KML Tradelinks Private Limited with itself, aiming to enhance operational efficiency and achieve economies of scale. The board meeting held on June 26, 2026, sanctioned the proposal under the provisions of the Companies Act, 2013. The appointed date for the scheme is April 1, 2026.

The amalgamation will occur in two steps. First, KML Tradelinks Private Limited, a wholly-owned subsidiary of Kisan Mouldings, will merge with Kisan Mouldings, resulting in the cancellation of shares held by the parent. Second, Kisan Mouldings will amalgamate with Apollo Pipes, leading to the cancellation of shares held by Apollo Pipes and the issuance of new shares to Kisan Mouldings' shareholders.

Share Exchange Ratio and Valuation

The share exchange ratio for the amalgamation of Kisan Mouldings with Apollo Pipes has been set at 4.96 equity shares of Apollo Pipes (face value ₹10 each) for every 100 equity shares of Kisan Mouldings (face value ₹10 each). This ratio is based on a valuation report by M/s. Axiology Valuetech Private Limited, with a fairness opinion provided by M/s. Corporate Professionals Capital Private Limited.

Financial Metrics of Involved Entities

The following table outlines the paid-up share capital, turnover, and net worth of the companies for the year ended March 31, 2026:

Name of the Company	Paid-up share capital (₹ crore)	Turnover (₹ crore)	Net Worth (₹ crore)
KML Tradelinks Private Limited	0.01	-	0.02
Kisan Mouldings Limited	119.46	250.07	148.65
Apollo Pipes Limited	44.05	887.44	844.77

Rationale and Approvals

The amalgamation is driven by strategic considerations to integrate businesses, achieve economies of scale, and improve market competitiveness. The combined entity is expected to benefit from a broader product portfolio, optimized logistics, and enhanced financial strength. The transaction is classified as a related party transaction but is considered to be at arm’s length, supported by independent valuations.

The scheme is subject to approvals from shareholders, creditors, BSE Limited, National Stock Exchange of India Limited, Securities and Exchange Board of India (SEBI), and the National Company Law Tribunal (NCLT).