LGB Forge Limited has initiated a postal ballot process to seek shareholder approval for key corporate governance changes and strategic business expansion. The resolutions include the appointment of a new director and significant alterations to the company’s constitutional documents to align with current regulatory frameworks and diversify its operational scope.

The primary resolution seeks the appointment of Arjun Parthasarathy as a Non-Executive Non-Independent Director. He was initially appointed as an Additional Director on August 11, 2026, and will hold office for three years, liable to retire by rotation. Parthasarathy, who holds a Master of Science in Integrated Marketing Communications from Northwestern University, USA, brings over 18 years of experience in the metal forming industry. He is related to Smt. Rajsri Vijayakumar, the Managing Director, as her brother-in-law.

Strategic Business Expansion

A critical component of the ballot involves a Special Resolution to alter the Objects Clause of the Memorandum of Association (MOA). The company proposes to insert a new sub-clause enabling it to engage in the import, export, purchase, sale, distribution, and trading of petroleum products, fuels, lubricants, and allied derivatives. This move signals a strategic diversification beyond its core metal forming business into the energy sector.

Additionally, shareholders are asked to approve the adoption of a new set of Articles of Association (AOA) to replace the existing ones, which were based on the Companies Act, 1956. The new AOA will align the company’s governance framework with the provisions of the Companies Act, 2013.

Voting Details

The remote e-voting process, facilitated by Central Depository Services (India) Limited (CDSL), will commence on August 20, 2026, at 9:00 am and conclude on September 18, 2026, at 5:00 pm. The cut-off date for determining eligible members is August 14, 2026. Only members registered in the Register of Members or Register of Beneficial Owners as on this date are entitled to vote.

Mr. P. Eswaramoorthy of M/s. P. Eswaramoorthy and Company has been appointed as the Scrutinizer to conduct the voting process. The results will be announced on or before September 22, 2026, and uploaded on the company’s website and the stock exchange platform.

LGB Forge has declared the voting results for its 20th Annual General Meeting (AGM), which was held via video conferencing on August 14, 2026. The company announced that all three resolutions placed before shareholders were passed with the requisite majority. The results were scrutinized by Sri. P. Eswaramoorthy of P. Eswaramoorthy and Company and declared on August 17, 2026.

The meeting was attended by 49 members representing 7,84,43,805 equity shares. As per the consolidated scrutinizer's report, the total number of shareholders as on the cut-off date of August 7, 2026, was 38,055. The remote e-voting period ran from August 11 to August 13, 2026.

Key Resolutions Passed

Shareholders voted on three primary agenda items during the AGM:

1. Adoption of the Audited Financial Statements for FY26, along with the Board of Directors' Report and Statutory Auditors' Report.
2. Re-appointment of Smt. Rajsri Vijayakumar as a Director, who retires by rotation.
3. Approval of material-related party transactions between LGB Forge and M/s. L.G. Balakrishnan & Bros Limited.

Voting Results Breakdown

The voting outcomes for each resolution are detailed below. For Resolution 3, which involved a material related-party transaction, votes cast by promoter group shareholders were considered invalid, in compliance with regulatory norms. Consequently, the resolution was decided solely based on the votes of non-promoter shareholders.

For the third resolution, Chairman Sri. B. Vijayakumar vacated the chair due to his interest in the matter. Independent Director Sri. S Ganesh assumed the chair to oversee the voting process before resuming normal proceedings. The scrutinizer's report confirmed that seven promoter shareholders holding 7,82,42,278 shares voted on Resolution 3, but these votes were marked as invalid.

Management Address and Governance

Smt. Rajsri Vijayakumar, Managing Director, briefed members on operational performance and strategic plans for the upcoming fiscal year. Sri. A. Sampath Kumar, Executive Director, discussed operational efficiency, digital initiatives, and green projects. The Statutory Auditors' Report and Secretarial Auditors' Report contained no qualifications or adverse remarks.

Nine shareholders registered as speakers for the meeting. Three participated via video conferencing to raise queries, which were addressed by the Chairman and the Managing Director.

The following directors attended the meeting via video conferencing:

Independent Directors Sri. Murugesa Saravana Marthandam and Sri. Sajeev Mathew Rajan were absent due to prior commitments. Smt. Narmatha G K, Company Secretary & Compliance Officer, and Sri. Venkatesan N, Chief Financial Officer, were also present.