Maestros Electronics & Telecommunications Systems Limited held its 17th Annual General Meeting (AGM) on September 23, 2026, where shareholders approved the issue of bonus shares and an increase in authorized share capital.

The meeting, chaired by Balkrishna Kamalakar Tendulkar, Managing Director, took place at Sarovar Portico in Navi Mumbai. The agenda included the adoption of financial statements for FY26 and the re-appointment of key directors. Voting was conducted via remote e-voting and electronic voting during the session.

Resolutions passed

Shareholders transacted six items of business through ordinary and special resolutions. The key approvals included:

• Adoption of audited standalone and consolidated financial statements for the year ended March 31, 2026.
• Re-appointment of Narendra Prabhakar Mahajani as Non-Executive Non-Independent Director.
• Increase in authorized share capital and consequent alteration of the Memorandum of Association.
• Issue of bonus shares.
• Approval of remuneration for Balkrishna Kamalakar Tendulkar for a two-year period.
• Re-appointment of Prakash Vithal Page as Independent Director for a second five-year term, including continuation beyond age 75.

Director re-appointment details

The shareholders approved the re-appointment of Prakash Vithal Page as an Independent Director for a second term of five consecutive years. This resolution also granted approval for the continuation of his directorship upon attaining the age of seventy-five years. The new term is effective from February 5, 2027.

Page holds qualifications as a Fellow Chartered Accountant and Fellow Company Secretary, and is a member of the Institute of Internal Auditors, Florida. His professional background includes serving as an Independent Director for several Maharashtra State Electricity Board entities, including MSEB Holding Company Limited, Maharashtra Power Generation Company Limited, Maharashtra State Electricity Distribution Company Limited, and Maharashtra Power Transmission Company Limited. The company disclosed that none of the current Directors or Key Managerial Personnel are related to Page, and he is not debarred from holding office by SEBI or any other authority.

Meeting details and attendance

The AGM commenced at 3:30 pm and concluded at 4:35 pm. Mr. Harshad Patel, Company Secretary, provided instructions on voting procedures. M/s. Makarand M. Joshi and Co., Practicing Company Secretaries, were appointed as scrutinizers for the voting process.

The results of the e-voting, along with the consolidated scrutinizer's report, were scheduled for declaration within two working days from the conclusion of the meeting.

Maestros Electronics & Telecommunications Systems Limited has dispatched the notice for its 17th Annual General Meeting (AGM) and the integrated annual report for FY26 to shareholders. The company sent physical letters containing web links to access these documents to members as of the August 28, 2026 cut-off date. Electronic copies were also sent on August 31, 2026. The company published newspaper advertisements in Financial Express and Pratahkal to comply with regulatory disclosure requirements.

The AGM is scheduled for September 23, 2026, at 3:30 pm at Majestic Court, Sarovar Portico, in Navi Mumbai. Remote e-voting will be available from September 20, 2026, at 9:00 am until September 22, 2026, at 5:00 pm. The cut-off date for determining eligible members for e-voting is September 16, 2026.

Bonus Issue and Capital Increase

The primary agenda includes the approval of the 1:1 bonus issue of 55,10,237 equity shares, previously approved by the board on August 24, 2026. This issuance will be funded by capitalizing retained earnings of approximately ₹5,51,02,370.

To accommodate this issue, shareholders will also vote on increasing the authorized share capital from ₹6,00,00,000 (60 lakh shares) to ₹15,00,00,000 (1.5 crore shares). Upon completion, the post-bonus issued capital will rise from ₹5,51,02,370 to ₹11,02,04,740.

Director Reappointments and Remuneration

The AGM will consider the reappointment of Mr. Narendra Prabhakar Mahajani as a Non-Executive Non-Independent Director. Additionally, shareholders will vote on the reappointment of Mr. Prakash Vithal Page as an Independent Director for a second five-year term, extending beyond his age of 75 years in 2028.

A special resolution will also approve the continuation of remuneration for Managing Director Mr. Balkrishna Kamalakar Tendulkar for two years, capped at ₹50,00,000 per annum, inclusive of salary and benefits.

Financial Context

The bonus issue is based on audited financial statements for the period ended March 31, 2026. During FY26, the company reported a gross turnover and other income of ₹4,179.61 lakhs and a net profit of ₹712.62 lakhs. The net worth stood at ₹4,203.99 lakhs.