Madhucon Projects discloses AGM voting results; all resolutions pass
- All seven resolutions passed with over 99.99% assent votes
- Total 34,767,963 votes cast by 83 participating members
- FY26 financial statements and auditor appointment ratified unanimously
- No dissenting votes recorded at the meeting itself
*this image is generated using AI for illustrative purposes only.
Madhucon Projects has disclosed the detailed voting results for its 36th Annual General Meeting (AGM) held on September 29, 2026. The company confirmed that all proposed resolutions were passed with a requisite majority, with assent votes exceeding 99.99% across all items.
Voting Results Breakdown
The scrutinizer’s report, filed under Regulation 44(3) of SEBI (LODR) Regulations, 2015, details the consolidated results from remote e-voting and polling at the meeting. A total of 83 members participated in the voting process, casting 34,767,963 votes in aggregate. Of these, 39 members voted via remote e-voting, while 44 members cast their votes at the meeting itself.
| Resolution | Assent (%) | Dissent (%) | Total Votes |
|---|---|---|---|
| Adoption of FY26 Financial Statements | 99.9996 | 0.0004 | 34,767,963 |
| Re-appointment of K. Venkateswarlu | 99.9964 | 0.0036 | 34,767,963 |
| Appointment of Statutory Auditors | 99.9996 | 0.0004 | 34,767,963 |
| Ratification of Prithvi Teja Nama | 99.9964 | 0.0036 | 34,767,963 |
| Ratification of Shankara Rao Kadambala | 99.9996 | 0.0004 | 34,767,963 |
| Cost Auditor Remuneration Ratification | 99.9996 | 0.0004 | 34,767,963 |
| Non-Provision of Interest on Loans | 99.9993 | 0.0007 | 34,767,963 |
Key Resolutions Passed
Shareholders adopted both standalone and consolidated financial statements for FY26. The Board’s re-appointment of Mr. K. Venkateswarlu, who retired by rotation, was approved. Additionally, M/s. B. Nursing Rao & Co LLP Chartered Accountants were appointed as Statutory Auditors for a three-year term concluding at the 39th AGM in 2029.
The meeting also ratified several directorial appointments and remuneration decisions:
- Non-Executive Director: Mr. Prithvi Teja Nama was ratified as a Non-Executive Director.
- Independent Director: Mr. Shankara Rao Kadambala was ratified as a Non-Executive Independent Director for a five-year term from August 13, 2026, to August 12, 2031.
- Cost Auditor Remuneration: Ratified remuneration payable to M/s AS RAO & CO., Cost Accountants, for the financial year ending March 31, 2027.
- Interest Waiver: Approved non-provision of interest on Working Capital Loans and Unsecured Loans.
Procedural Details
The AGM commenced at 3:00 pm and concluded at 3:30 pm at the company’s registered office in Khammam, Telangana. Remote e-voting facilities were available from September 26 to September 28, 2026. The Chairman confirmed that statutory registers were open for inspection and addressed shareholder queries before announcing the voting results. The scrutinizer, Ms. Vendra Madhumita, certified that no invalid votes or abstentions were recorded during the poll.
Historical Stock Returns for Madhucon Projects
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -4.77% | -3.62% | -22.22% | +6.68% | -51.46% | -14.19% |
How will the appointment of B. Nursing Rao & Co LLP as statutory auditors for the next three years influence Madhucon Projects' financial reporting transparency and audit strategy?
What are the potential liquidity and profitability implications of the shareholder approval to waive interest on working capital and unsecured loans for the upcoming fiscal periods?
How might the five-year tenure of new Independent Director Shankara Rao Kadambala shape the company's governance framework and strategic direction through 2031?
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