Metal Coatings (India) Limited has scheduled its 32nd Annual General Meeting for Thursday, August 20, 2026, to secure shareholder approval for a material related-party transaction worth ₹95 crore. The company will also seek ratification for a final dividend of ₹1 per equity share for the financial year ended March 31, 2026, alongside the re-appointment of its statutory auditor for a second five-year term.

The primary special business item involves approving transactions with Khandelwal Busar Industries Private Limited (KBIPL), a related party under Section 2(76) of the Companies Act, 2013. The proposed omnibus approval covers sales, purchases, job work, rent, and other arrangements totaling ₹95 crore in aggregate from the conclusion of the 32nd AGM until the 33rd AGM. This approval is mandated under Regulation 23(4) of the SEBI Listing Regulations and Section 188 of the Companies Act, 2013, as the transactions exceed the thresholds specified in Schedule XII of the SEBI Listing Regulations.

The Board of Directors has recommended the resolution, noting that the transactions are conducted at arm’s length and are commercially advantageous. Mr. Pramod Khandelwal, Managing Director, and Mr. Ramesh Chander Khandelwal, Whole Time Director, have substantial interest in KBIPL and have recused themselves from voting on this resolution. The estimated value of these transactions represents approximately 64% of the listed entity’s annual consolidated turnover for the immediately preceding financial year.

Auditor Re-Appointment and Cost Audit

Shareholders will also vote to re-appoint M/s. Mehra Goel & Co LLP, Chartered Accountants, as Statutory Auditors for a second term of five consecutive years, effective from the conclusion of the 32nd AGM until the 37th AGM. The firm’s remuneration is fixed at ₹9 lakh plus applicable taxes and out-of-pocket expenses. Additionally, the meeting will ratify the remuneration of Mr. Ramawatar Sunar, Cost Accountant, at ₹60,000 plus applicable taxes for the audit of cost records for the financial year ending March 31, 2027, as required under Section 148(3) of the Companies Act, 2013.

What the Numbers Show

The scale of the related-party transaction with KBIPL indicates a significant operational dependency between the two entities. With the proposed ₹95 crore cap representing roughly 64% of Metal Coatings’ prior-year consolidated turnover, the majority of the company’s business volume is tied to this single related party. While the Board asserts that pricing is determined based on market competitiveness, the concentration risk is notable. Shareholders must evaluate whether the arm’s length nature of these deals ensures fair value realization, given that KBIPL does not hold any equity in Metal Coatings but shares common promoter control.

The AGM will be held via Video Conferencing or Other Audio-Visual Means pursuant to Ministry of Corporate Affairs Circular No. 03/2025. Remote e-voting will be open from August 16, 2026, to August 19, 2026. The record date for determining dividend entitlement is August 13, 2026.

Metal Coatings (India) Limited has fixed Thursday, August 13, 2026, as the record date to determine shareholder eligibility for a final dividend of Rs 1 per equity share. The dividend, recommended by the Board of Directors at its meeting held on May 27, 2026, is subject to shareholder approval at the upcoming Annual General Meeting (AGM). The company has also scheduled the 32nd AGM for August 20, 2026, at 12:30 P.M. IST through video conferencing and other audio-visual means.

Pursuant to Regulation 42 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the record date also determines eligibility for e-voting. The remote e-voting period will commence on August 16, 2026, at 9 A.M. IST and conclude on August 19, 2026, at 5:00 P.M. IST. The share transfer books and register of members will remain closed from August 14, 2026, to August 20, 2026, for the AGM.

Key Meeting and Dividend Details