Manaksia Coated Metals & Industries Ltd shareholders approved the adoption of audited financial statements for FY26 and declared a final dividend of ₹0.05 per equity share at the company’s 16th Annual General Meeting. The meeting, held on September 3, 2026, via video conferencing, also saw the re-appointment of key directors and revisions to their remuneration packages.

The company’s promoters, holding 61,608,767 shares, voted in favor of all resolutions with 100% support. Public institutional investors also backed all proposals unanimously, while non-institutional public shareholders cast minimal dissenting votes across several special business items.

Key Resolutions Passed

Shareholders approved ordinary resolutions to adopt the standalone and consolidated audited financial statements for the fiscal year ended March 31, 2026. The dividend declaration of 5% on the face value of ₹1 per share was passed as an ordinary resolution.

Director Appointments and Remuneration

The meeting addressed multiple special resolutions concerning board composition and compensation:

• Re-appointment of Mr. Venkata Srinarayana Addanki as Whole-time Director for three years, effective May 30, 2026.
• Re-appointment of Mr. Sushil Kumar Agrawal as Managing Director for three years, effective November 23, 2026.
• Re-appointment of Mr. Karan Agrawal as Whole-time Director for three years, effective November 17, 2026.

Remuneration revisions were approved for senior management, effective April 1, 2026:

Additionally, the Board appointed Mr. Devansh Agrawal as Vice-President Business Development at a monthly remuneration of ₹8 lakh, effective July 1, 2026.

Voting Patterns

While promoter and institutional votes were unanimous across all agenda items, non-institutional public shareholders registered small numbers of 'against' votes on remuneration-related resolutions. For instance, the appointment of Mr. Devansh Agrawal saw 3,236 votes against out of 911,066 polled from this segment, representing 0.35% dissent. Overall, all resolutions secured the requisite majority.

What the Numbers Show

The voting data reveals a stark divergence in engagement between shareholder categories. Promoter holdings of 61.6 million shares resulted in 100% participation and unanimous approval, whereas non-institutional public holdings of 44.1 million shares yielded only 2.06% participation. This concentration of voting power within the promoter group ensures decisive control over corporate governance decisions, including significant remuneration increases for top management.

Manaksia Coated Metals & Industries Limited shareholders approved all 11 resolutions at its 16th Annual General Meeting held on September 3, 2026, with the scrutinizer’s report confirming near-unanimous support across the board.

The meeting, conducted via video conferencing, saw the reappointment of senior leadership and the adoption of audited financial statements. Mr. Siddhartha Shankar Roy chaired the proceedings, while Managing Director Mr. Sushil Kumar Agrawal outlined the company’s performance and future prospects.

Voting Results Overview

The e-voting window opened on August 31, 2026, and closed on September 2, 2026, with a cut-off date of August 27, 2026, for voting rights. A total of 63,159,825 votes were polled out of 106,634,050 shares held by shareholders on the record date, representing a 59.23% turnout.

Promoter and promoter group shareholders, holding 61,608,767 shares, participated fully, casting 100% of their votes in favour of every resolution. Public institutional investors showed high engagement, with 75.54% of their shares voting in favour. In contrast, public non-institutional investors had a significantly lower participation rate of just 2.06%, though those who did vote overwhelmingly supported the agenda items.

Key Resolutions Passed

Shareholders approved several ordinary and special resolutions during the two-hour session. The primary business items included:

• Adoption of standalone and consolidated financial statements for the year ended March 31, 2026.
• Declaration of the final dividend.
• Reappointment of Mr. Karan Agrawal as a director retiring by rotation.
• Ratification of cost auditor remuneration for FY27.

Board Appointments and Remuneration

The AGM approved multiple special resolutions regarding board composition and compensation:

Mr. Devansh Agrawal’s appointment includes a monthly remuneration of ₹8,00,000. This resolution received the highest number of dissenting votes among all agenda items, with 3,236 votes cast against it by public non-institutional shareholders, though it still secured 99.99% support overall.

Meeting Proceedings

Four registered speakers raised queries during the session, which were addressed by Mr. Karan Agrawal. The scrutinizer’s report on the voting results was released by M & A Associates on September 3, 2026, confirming that no invalid votes were recorded across any shareholder category.