Mahindra EPC Irrigation approves audited FY26 results at 44th AGM
Mahindra EPC Irrigation Limited's 44th AGM approved the FY26 audited financial statements and re-appointed B S R & Co. LLP as auditors for five years. The meeting also extended the Managing Director's term and appointed two new Independent Directors. Related party transactions with Mahindra & Mahindra Limited for FY 2025-26 and FY 2026-27 were ratified.
*this image is generated using AI for illustrative purposes only.
Mahindra EPC Irrigation Limited held its 44th Annual General Meeting (AGM) on May 29, 2026, through video conferencing to approve financial results and key governance resolutions. The meeting, chaired by Mr. Shriprakash Shukla, commenced at 11:30 a.m. and concluded at 1:12 p.m., with participation from 41 members and authorized representatives. Shareholders approved the standalone and consolidated audited financial statements for the financial year ended March 31, 2026, alongside the reports of the Board of Directors and Statutory Auditors.
The Board's Report and Auditor's Report were taken as read, with the Chairman confirming that the Statutory Auditors' report issued by M/s. B S R & Co. LLP contained no qualifications, observations, reservations, or adverse remarks. The company provided remote e-voting facilities via KFin Technologies Limited from May 26 to May 28, 2026, and enabled e-voting during the meeting for attendees who had not voted prior.
Resolutions Passed
The AGM approved 11 resolutions covering ordinary and special business. Key decisions included the re-appointment of Messrs B S R & Co. LLP as Statutory Auditors for a term of five years, concluding with the 49th AGM for the Financial Year 2030-31. The company also ratified remuneration for Cost Auditors for the financial year 2026-27 and approved material related party transactions with Mahindra & Mahindra Limited for FY 2025-26 and FY 2026-27.
Appointments and Tenure
The meeting sanctioned the re-appointment of Mr. Ramesh Ramachandran as Managing Director for a period of three years, effective from September 1, 2026, to August 31, 2029. Additionally, two Independent Directors were appointed for five-year terms: Mr. Balram Singh Yadav and Dr. Purvi Mehta Bhatt, effective from April 21, 2026, to April 20, 2031. Shareholders also approved the payment of commission to Independent Directors and Non-Executive Directors for the period from FY 2025-26 to FY 2027-28.
| Sr. No. | Particulars | Type of Resolution |
|---|---|---|
| 1 | Adoption of Standalone Audited Financial Statements for FY ended March 31, 2026 | Ordinary Resolution |
| 2 | Adoption of Consolidated Audited Financial Statements for FY ended March 31, 2026 | Ordinary Resolution |
| 3 | Retirement of Mr. Shriprakash Shukla by rotation | Ordinary Resolution |
| 4 | Re-Appointment of M/s. B S R & Co. LLP as Statutory Auditors for 5 years | Ordinary Resolution |
| 5 | Re-Appointment of Mr. Ramesh Ramachandran as Managing Director (3 years) | Special Resolution |
| 6 | Ratification of Cost Auditors remuneration for FY 2026-27 | Ordinary Resolution |
| 7 | Appointment of Mr. Balram Singh Yadav as Independent Director (5 years) | Special Resolution |
| 8 | Appointment of Dr. Purvi Mehta Bhatt as Independent Director (5 years) | Special Resolution |
| 9 | Payment of Commission to Independent Directors (FY 2025-26 to FY 2027-28) | Special Resolution |
| 10 | Ratification of Related Party Transactions with Mahindra & Mahindra Limited for FY 2025-26 | Ordinary Resolution |
| 11 | Approval of Related Party Transactions with Mahindra & Mahindra Limited for FY 2026-27 | Ordinary Resolution |
Mr. Shriprakash Shukla retired by rotation at the conclusion of the meeting and did not seek reappointment due to superannuation. The statutory registers and relevant documents, including the Secretarial Auditors' certificate regarding the ESOP scheme, were made available electronically for inspection. The Scrutinizer took custody of the voting process post-conclusion to verify the votes cast.
Historical Stock Returns for Mahindra EPC Irrigation
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.87% | -2.12% | -1.46% | -10.97% | -19.45% | -22.68% |
What strategic priorities will the re-appointed Managing Director, Mr. Ramesh Ramachandran, focus on during his new three-year term?
How will the new Independent Directors influence the company's governance and expansion strategies over the next five years?
What is the expected financial impact of the material related party transactions with Mahindra & Mahindra Limited for the upcoming fiscal years?
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