Manaksia Steels passes all resolutions at 25th AGM with near-unanimous votes
- All three resolutions passed with over 99.99% votes in favour
- Financial statements for FY26 adopted by shareholders
- Varun Agrawal re-appointed as Managing Director
- Cost auditor remuneration for FY27 ratified
*this image is generated using AI for illustrative purposes only.
Manaksia Steels Limited has declared the voting results of its 25th Annual General Meeting held on September 23, 2026. All three resolutions proposed to the shareholders were passed with requisite majority, securing over 99.99% support across all agenda items.
The meeting, conducted via video conferencing, concluded with the adoption of audited financial statements for the fiscal year ended March 31, 2026. The scrutinizer’s report confirmed that the resolutions received overwhelming approval from both promoter and public shareholders, with negligible dissenting votes.
Voting results breakdown
The company utilized the National Securities Depository Limited (NSDL) e-voting platform for remote voting and electronic voting during the meeting. The detailed voting pattern for each resolution is summarized below:
| Resolution | Description | Votes in Favour (%) | Votes Against (%) | Result |
|---|---|---|---|---|
| Resolution 1 | Adoption of standalone and consolidated financial statements for FY26 | 99.9927% | 0.0073% | Passed |
| Resolution 2 | Re-appointment of Varun Agrawal as Managing Director | 99.9927% | 0.0073% | Passed |
| Resolution 3 | Ratification of cost auditor remuneration for FY27 | 99.9926% | 0.0074% | Passed |
Governance and compliance details
The session commenced at 3:00 pm and ended at 3:45 pm, with 123 members participating remotely. Mr. Ramesh Kumar Maheshwari, Independent Director, chaired the proceedings. The company confirmed that requisite quorum was present throughout the meeting.
Ms. Pammy Jaiswal of Vinod Kothari & Company served as the scrutinizer. Remote e-voting was available from September 19 to September 22, 2026. The voting results have been hosted on the company's website following the scrutinizer's report.
The meeting was conducted in compliance with the Companies Act, 2013, and SEBI regulations. Statutory auditor S K Agrawal and Co. Chartered Accountants LLP and secretarial auditor MKB & Associates were present virtually. The company reported no qualifications or adverse remarks in the statutory or secretarial audit reports for FY26.
Historical Stock Returns for Manaksia Steels
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.13% | +1.23% | -6.52% | +99.89% | +85.24% | +244.98% |
How will Varun Agrawal's re-appointment as Managing Director influence Manaksia Steels' strategic expansion plans for the upcoming fiscal year?
What specific operational efficiencies or capacity expansions are outlined in the adopted FY26 financial statements that could drive future revenue growth?
Given the clean statutory and secretarial audit reports, how does this compliance record position the company for potential debt capital market issuances?
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