Kovai Medical Center and Hospital Limited shareholders approved all four agenda items at its 40th Annual General Meeting held on August 26, 2026. The resolutions, including the adoption of FY26 financials and dividend declaration, received overwhelming support from the promoter group and public institutions.

The virtual meeting commenced at 11:00 am and concluded at 12:21 pm via Video Conferencing / Other Audio-Visual Means (VC/OAVM). Sixty-four members attended the session, chaired by Managing Director Dr. Nalla G Palaniswami. The scrutinizer report, submitted by K. Duraisami, confirmed that remote e-voting ran from August 23 to August 25, 2026.

Voting Results Overview

A total of 107 members holding 67,05,898 shares participated in remote e-voting. Of these, nine promoter group members holding 61,64,883 shares cast their votes. Public non-institutional participation was lower, with 98 members holding 5,41,016 shares voting. One member voted during the AGM itself.

Key Resolutions

Shareholders approved the adoption of annual financial statements for the fiscal year ended March 31, 2026, as an ordinary resolution. The declaration of dividend for FY26 also passed as an ordinary resolution. Additionally, the company secured approval for the appointment of Dr. M.C. Thirumoorthi as a director liable to retire by rotation through a special resolution. The ratification of remuneration payable to the cost auditor was approved as an ordinary resolution.

Governance and Compliance

Statutory auditors M/s VKS Aiyer & Co. submitted their report for the year ended March 31, 2026, with no adverse remarks. Mr. K. Duraisami served as the scrutinizer for the e-voting process. The votes were unblocked on August 26, 2026, at 12:40 pm in the presence of two independent witnesses.

The promoter group, holding 61,84,883 shares, voted in favor of all resolutions. Public institutions holding 4,56,256 shares also supported all items. Among public non-institutions holding 43,01,123 shares, dissenting votes were recorded only for the appointment of Dr. M.C. Thirumoorthi, with 69 votes against.

Kovai Medical Center and Hospital Limited has issued a postal ballot notice seeking shareholder approval for the re-designation of Dr. Arun N Palaniswami as Joint Managing Director. The Board of Directors approved the move in its meeting held on August 7, 2026, citing his expertise in hospital operations and quality functions as key drivers for the decision.

The re-designation is effective from August 7, 2026, for the remaining period of his current tenure, which runs until September 24, 2028. Members will vote via remote e-voting through the National Securities Depository Limited (NSDL) platform. The voting window opens on August 21, 2026, at 9:00 am and closes on September 19, 2026, at 5:00 pm.

Remuneration Details

Dr. Palaniswami’s revised compensation package includes a base salary and performance-linked incentives. The key components are:

The total remuneration must adhere to the limits prescribed under Sections 196, 197, and 198 of the Companies Act, 2013. Dr. Palaniswami will not be entitled to sitting fees for attending Board or Committee meetings.

What the Numbers Show

The proposed monthly salary of ₹11,00,000 represents a 10% increase over his previous remuneration of ₹10,00,000 per month as Executive Director. This adjustment aligns with his elevated role as Joint Managing Director while maintaining compliance with regulatory caps on managerial pay.

Voting Process

Shareholders holding shares as on the cut-off date of August 14, 2026, are eligible to vote. The company has appointed M. D. Selvaraj of MDS & Associates LLP as the Scrutinizer to ensure a fair and transparent voting process. Results will be declared within two working days of the voting conclusion.

Physical copies of the ballot will not be sent in compliance with Ministry of Corporate Affairs circulars. Shareholders must register their email addresses with their Depository Participants or the Registrar and Transfer Agent to access the e-voting facility.