Millworks Technologies Limited confirmed the outcome of its one-to-one virtual investor meeting with Paragon Partners on Friday, September 18, 2026. The session was conducted online from 4:30 pm to 5:30 pm.

The company issued the disclosure pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing was signed by Managing Director Sridhar Acharya on September 18, 2026, updating an earlier intimation dated September 11, 2026.

Meeting Details

The firm stated that no Unpublished Price Sensitive Information (UPSI) was shared or discussed during the interaction.

Millworks Technologies will hold its fifth Annual General Meeting on September 29, 2026, to approve significant remuneration increases for executive directors. The vote follows a landmark fiscal year where the company listed on the BSE SME platform and reported a 576% surge in operating revenue.

Agenda Highlights

The primary business includes adopting audited financial statements for FY26 and reappointing Mrs. Rashmi Sridhar Acharya as Non-Executive Director. Shareholders will also vote on special resolutions to revise the remuneration of three executive directors effective from FY27 to FY29.

Remuneration Revisions

The Board proposes monthly salary ceilings that represent substantial increases over FY26 actuals:

• Mr. Sridhar Acharya (Managing Director): Revised gross salary ceiling of ₹9,25,000 per month, up from an FY26 salary of ₹49,67,000.
• Mr. Madhu Hulisandra Krishnamurthy (Whole-time Director): Revised basic gross salary ceiling of ₹6,75,000 per month, up from an FY26 salary of ₹44,33,000.
• Mrs. Sowmya Madhu (Whole-time Director): Revised basic gross salary ceiling of ₹2,50,000 per month, up from an FY26 salary of ₹12,99,000.

All proposals include an annual increment of up to 30% year-on-year within specified ceilings. The resolutions allow remuneration to exceed standard profit-linked limits in cases of inadequate profits.

Financial Performance

For FY26, the company reported total income of ₹15,339.66 lakh, a sharp rise from ₹2,223.67 lakh in FY25. Operating revenue grew from ₹2,199.71 lakh to ₹14,876.70 lakh. Net profit after tax reached ₹3,637.61 lakh, compared to ₹511.54 lakh in the previous year. EBITDA stood at ₹5,562.91 lakh.

What the Numbers Show

The proposed monthly salary ceilings imply significant annualized increases over FY26 actuals. Mr. Acharya’s new ceiling of ₹9,25,000 per month translates to a potential annual base of ₹1,11,00,000, more than doubling his previous year’s draw of ₹49,67,000. Similarly, Mr. Krishnamurthy’s ceiling suggests a potential annual package of ₹81,00,000, nearly double his FY26 remuneration of ₹44,33,000. These hikes are approved despite the company reporting a healthy net profit margin, indicating a decoupling of executive compensation from immediate profit performance metrics.