Millworks Technologies shareholders approve all five resolutions at FY26 AGM
- All five resolutions passed at Millworks Technologies' fifth AGM held on September 29, 2026
- Shareholders approved FY26 financial statements and director re-appointments unanimously
- Remuneration revisions for three key directors passed with minimal dissent (3,200 votes against)
*this image is generated using AI for illustrative purposes only.
Millworks Technologies Limited held its fifth Annual General Meeting (AGM) on September 29, 2026, adopting the audited financial statements for the fiscal year ended March 31, 2026. The meeting, conducted via Video Conferencing from Bangalore, saw shareholders approve the reports of the Board of Directors and Auditors. Mr. Sridhar Acharya, Managing Director, chaired the session after confirming the requisite quorum.
Key resolutions passed
Members considered and approved several ordinary and special business items as outlined in the notice convening the meeting:
- Adoption of Financials: Approval of the audited financial statements for FY26 along with the Board and Auditor reports.
- Director Re-appointment: Appointment of Mrs. Rashmi Sridhar Acharya as a Non-Executive Director in place of herself, who retired by rotation and offered herself for re-appointment.
- Remuneration Revisions: Approval to revise the remuneration for three key directors:
- Mr. Sridhar Acharya (Managing Director)
- Mr. Madhu Hulisandra Krishnamurthy (Whole-time Director)
- Mrs. Sowmya Madhu (Whole Time Director)
Voting results and scrutiny
Mr. Himanshu Surendrakumar Gupta of M/s. Himanshu S K Gupta & Associates was appointed as the Scrutinizer to oversee the e-voting process. The results of the voting have been announced, confirming that all resolutions were passed with the requisite majority.
The electronic voting facility was open from September 25, 2026, to September 28, 2026. Shareholders holding shares as on the cut-off date of September 22, 2026, were entitled to vote. The results were filed with BSE Limited on September 30, 2026, pursuant to Regulation 44 of SEBI (LODR) Regulations, 2015.
| Resolution | Type | Votes in Favour | Votes Against | Result |
|---|---|---|---|---|
| Adoption of FY26 Financials | Ordinary | 11,593,038 | 0 | Passed |
| Re-appointment of Mrs. Rashmi Sridhar Acharya | Ordinary | 11,593,038 | 0 | Passed |
| Revision of MD Remuneration | Special | 9,756,300 | 3,200 | Passed |
| Revision of WTD Remuneration (Madhu Hulisandra) | Special | 9,753,100 | 3,200 | Passed |
| Revision of WTD Remuneration (Sowmya Madhu) | Special | 9,645,163 | 3,200 | Passed |
The AGM concluded at 12:22 pm with a vote of thanks.
Historical Stock Returns for Millworks Technologies
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.24% | -8.43% | +30.85% | +255.89% | +255.89% | +255.89% |
How will the revised remuneration packages for the Managing Director and Whole-time Directors impact Millworks Technologies' operating expenses and net profit margins in FY27?
What specific operational or strategic initiatives are driving the Board's decision to increase executive compensation, and how do these align with the company's growth targets?
Given the unanimous approval of financials and director re-appointments, does this governance stability signal a potential shift in the company's dividend policy or capital allocation strategy?
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