Mahamaya Steel Industries shareholders approved all 12 resolutions at the 38th Annual General Meeting (AGM) held on September 25, 2026. The company disclosed the combined voting results under SEBI regulations, confirming the passage of key governance and operational items.

The meeting was conducted via Video Conferencing (VC) starting at 12:00 noon. Remote e-voting facilities were active from September 22 to September 24, 2026. A total of 45 members participated in the live session, comprising 39 from the promoter group and 6 public shareholders. No members attended in person or through proxy.

Voting participation and turnout

The disclosure details the voting patterns across different shareholder categories. The promoter and promoter group held 11,964,987 shares, with 11,836,722 votes polled, representing a 98.93% participation rate for this group. Public non-institutional shareholders held 4,453,493 shares, with 251,508 votes polled, reflecting a 5.65% participation rate.

The total number of equity shareholders as on the record date (September 18, 2026) was 6,219. The overall votes polled stood at 12,088,230, which is 73.55% of the total outstanding shares.

Key resolutions passed

Shareholders passed all resolutions listed in the notice, ranging from ordinary to special business items. The primary approvals included the adoption of financial reports and the reappointment of management personnel.

Governance and operational updates

The AGM saw the reappointment of Suresh Raman (DIN: 07562480) as a Non-Executive Non-Independent Director liable to retire by rotation. Additionally, Vanitha Rangaiah (DIN: 09211334) was reappointed as an Independent Director through a special resolution. The appointment is effective from June 28, 2026, to June 27, 2031, for a term of five years. She is not liable to retire by rotation and meets the criteria of independence under Section 149(6) and Regulation 16(1)(b).

The company appointed M/s. Chopra A J & Associates, Chartered Accountants (FRN: 021905C), as its new statutory auditors. This appointment replaces the previous firm, M/s. K P R K & Associates, whose term expired at the conclusion of the 38th AGM. The new auditors are based in Raipur, established in 2016, and are a peer-reviewed firm with nine years of experience in statutory, tax, GST, and bank audits. Their tenure will last for five years, from the conclusion of the 38th AGM until the conclusion of the 43rd AGM.

Significant special resolutions were passed to enhance the company's financial flexibility. These included increasing overall borrowing limits under Section 180(1)(c) of the Companies Act, 2013, and seeking approval for creating mortgages or charges on assets under Section 180(1)(a). The board also secured approval to increase thresholds for loans, guarantees, and securities under Sections 185 and 186.

Related party transactions

Ordinary resolutions were passed to approve material related party transactions involving sale, purchase, and services. A specific resolution authorized financial assistance via unsecured loans for a solar power project, indicating a potential strategic shift toward renewable energy infrastructure within the group's operations.

Mahamaya Steel Industries reported monthly sales of 19,610.350 metric tonnes for August 2026. The company disclosed the operational data to stock exchanges on September 7, 2026.

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing serves as a mandatory business update for listed entities in the steel sector.

Operational Details

The sales figure represents physical units sold during the month. The company did not disclose revenue values, profit margins, or order book updates in this specific filing.

Mahamaya Steel Industries manufactures steel products including joists, channels, angles, flats, rounds, crossing sleeper bars, blooms, and billets. The company is an approved supplier for major infrastructure and energy entities such as BHEL, SAIL, NTPC, and ONGC.