Macfos Ltd attributed the delay in submitting its Annual General Meeting (AGM) proceedings to a technical glitch on the BSE Listing Centre portal. The company stated that it was unable to receive the One-Time Password (OTP) required for authentication despite multiple attempts.

The 9th AGM was held on September 7, 2026, via video conferencing. Under Regulation 30(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, disclosures regarding general meeting proceedings must be submitted within twelve hours of conclusion. The meeting concluded at 4:40 pm on September 7, but the disclosure was uploaded only on September 8, 2026, at 4:15:40 pm.

Technical Constraints Cited

In its clarification letter to BSE Limited, Macfos Ltd explained that immediately after the meeting, the company attempted to upload the outcome on the BSE Listing Centre. However, the login process failed due to non-receipt of the OTP. The company asserted that the delay was purely due to this system-related issue and not due to any negligence or intent to withhold information.

The company requested the exchange to condone the delay, assuring continued vigilance in compliance matters. It noted that such technical issues would be reported to the Exchange helpdesk promptly in the future.

AGM Proceedings Summary

The AGM transacted ordinary business items including the adoption of audited standalone and consolidated financial statements for FY26. Mr. Nileshkumar Purushottam Chavhan, Whole-Time Director, was re-appointed as he retired by rotation and offered himself for re-appointment.

The meeting was chaired by Atul Maruti Dumbre, Managing Director and Chairman. The statutory auditors' report and secretarial audit report contained no qualifications or adverse remarks.

Macfos Limited shareholders unanimously approved the company’s audited financial statements for FY26 and the reappointment of director Nileshkumar Purushottam Chavhan at its ninth annual general meeting held on September 7, 2026. The scrutinizer’s report confirmed that promoters cast all valid votes, resulting in 100% approval for all three ordinary resolutions.

The meeting, conducted via video conferencing from 3:15 pm to 4:40 pm, saw a total of 7,159,468 votes polled out of 10,358,503 outstanding shares. This represents a 69.12% turnout of total shares on record. Notably, while 25 shareholders attended the meeting via video conferencing, no public shareholders (institutional or non-institutional) cast votes during the remote e-voting process or the poll.

Voting Breakdown

The voting results, scrutinized by CZ & Associates LLP, reveal complete alignment with the promoter group’s stance. All resolutions were passed with zero votes against.

Shareholder Participation

As of the record date of August 31, 2026, Macfos had 2,579 shareholders. The promoter group holds 7,159,480 shares, constituting approximately 69.1% of the total equity. Institutional investors hold 600,233 shares, while non-institutional public shareholders hold 2,598,790 shares.

Despite the presence of public shareholders in the meeting via video conferencing (18 public and 7 promoter representatives), the voting data indicates that only the promoter group exercised their voting rights through the NSDL e-voting platform. The remote e-voting period ran from September 4 to September 6, 2026.

Financial Performance Recap

Chairman Atul Maruti Dumbre highlighted during the AGM that Macfos reported revenue of ₹311.74 crore, EBITDA of ₹38.97 crore, and Profit After Tax (PAT) of ₹25.65 crore for FY26. Excluding one-time bulk sales of ₹71.38 crore from H1FY25, the company achieved like-to-like growth of 67% in revenue, 103% in EBITDA, and 105% in PAT.

Operational Updates

The ROBU platform served more than 5.05 lakh orders for approximately 1.85 lakh customers in FY26. The average order value rose to ₹6,111, with monthly website and app visitors reaching 5.86 lakh. The product portfolio expanded to over 1.05 lakh SKUs, supported by more than 60,000 square feet of warehousing infrastructure.

Strategic Progress

Macfos continues its dual-pillar strategy. ROBU 1.0 focuses on technology distribution, while ROBU 2.0 drives indigenous development through four in-house brands: SmartElex, EasyMech, SimplyFly, and ProRange. During FY26, SmartElex added over 120 new products, and ProRange expanded to more than 650 SKUs. The company also demonstrated drone capabilities to government and defence organisations.