Maithan Alloys conducts 41st AGM, approves dividend and key resolutions
- Maithan Alloys held its 41st AGM on September 28, 2026 via video conferencing with 57 members attending
- The AGM confirmed an interim dividend of ₹11/- per equity share and declared a final dividend of ₹6/- per equity share for FY2025-2026
- Key resolutions included re-appointment of three Independent Directors and appointment of two new Independent Directors
- Proposed designation changes include Subhas Chandra Agarwalla moving to Executive Chairman and Subodh Agarwalla becoming Managing Director and Chief Executive Officer
- Material related party transactions with Maithan Ferrous Private Limited were tabled for approval for FY2026-2027 and the period April to September, 2027
*this image is generated using AI for illustrative purposes only.
Maithan Alloys held its 41st Annual General Meeting on September 28, 2026 via Video Conferencing/Other Audio Visual Means, with 57 members in attendance. The meeting was chaired by Subhas Chandra Agarwalla, Chairman and Managing Director.
Meeting proceedings and attendance
The meeting commenced at 11:30 am and concluded at 12:35 pm. Directors present through video conferencing included Subodh Agarwalla, Palghat Krishnan Venkatramani, Aayush Khetawat, Chandra Prakash Kakarania, Dr. Ridhi Agarwala, and Sonal Choubey. Naresh Kumar Jain and Srinivas Peddi, Directors, were unable to attend due to prior commitments. Also present were Sudhanshu Agarwalla, President and CFO, Rajesh K. Shah, Company Secretary, and representatives of the Statutory, Secretarial and Cost Auditors.
The Chairman noted there were no qualifications, observations, or comments in the Statutory Auditors' Reports or the Secretarial Audit Report for the financial year ended March 31, 2026 that had any material adverse effect on the functioning of the company. The revised Audited Financial Statement for the financial year ended March 31, 2026, the Directors' Report, and the Auditors' Reports were taken as read.
Voting and e-voting process
Electronic voting was facilitated through the Central Depository Services (India) Limited platform. Remote e-voting commenced on September 25, 2026 at 9:00 am and ended on September 27, 2026 at 5:00 pm. S. K. Patnaik was appointed as Scrutiniser to oversee the voting process. Voting results were to be announced on or before September 30, 2026 and intimated through stock exchanges.
As the Chairman declared an interest in 5 out of 16 agenda items, Aayush Khetawat, Chairman of the Audit Committee and Independent Director, conducted proceedings for all business items. Five Speaker Members raised questions on topics including growth plans, plant capacity, use of AI technology, renewable energy, business opportunities in subsidiary companies, and other matters. Subodh Agarwalla, Chief Executive Officer, responded to the queries.
Resolutions moved at the AGM
The following resolutions were moved for member approval:
Ordinary business
| Item | Resolution |
|---|---|
| 1 | Adoption of revised Audited Standalone and Consolidated Financial Statements for FY ended March 31, 2026 |
| 2 | Confirmation of interim dividend of ₹11/- per equity share and declaration of final dividend of ₹6/- per equity share for FY2025-2026 |
| 3 | Re-appointment of Subodh Agarwalla (DIN: 00339855) as Director retiring by rotation |
Special business
| Item | Resolution |
|---|---|
| 4 | Increase in remuneration of the Statutory Auditor |
| 5 | Ratification of remuneration of the Cost Auditor |
| 6 | Alteration of the Objects Clause of the Memorandum of Association |
| 7 | Alteration of Articles of Association by deleting provisions relating to the Common Seal |
| 8 | Re-appointment of Naresh Kumar Jain (DIN: 00221519) as Independent Director |
| 9 | Re-appointment of Aayush Khetawat (DIN: 06968448) as Independent Director |
| 10 | Re-appointment of Sonal Choubey (DIN: 10475331) as Independent Director |
| 11 | Appointment of Chandra Prakash Kakarania (DIN: 00203663) as Director and Independent Director |
| 12 | Appointment of Dr. Ridhi Agarwala (DIN: 11622124) as Director and Independent Director |
| 13 | Change in designation of Subhas Chandra Agarwalla as Executive Chairman |
| 14 | Change in designation of Subodh Agarwalla as Managing Director and Chief Executive Officer |
| 15 | Approval of material related party transactions with Maithan Ferrous Private Limited for FY2026-2027 |
| 16 | Approval of material related party transactions with Maithan Ferrous Private Limited for the period April to September, 2027 |
The Chairman highlighted the company's performance under challenging circumstances, attributing it to operational efficiency with a focus on value-added manganese alloys products, and reiterated the company's commitment towards growth and sustainability.
Historical Stock Returns for Maithan Alloys
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.46% | -6.37% | -4.84% | +6.38% | -15.95% | -11.90% |
How will the newly approved material related party transactions with Maithan Ferrous Private Limited impact the company's consolidated margins and cash flow in FY2027?
What specific expansion plans or capacity enhancements are implied by the alteration of the Objects Clause in the Memorandum of Association?
How does the strategic shift towards value-added manganese alloys align with current global supply chain trends and pricing volatility for ferro-alloys?
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