Mittal Sections passes all resolutions at 17th AGM with promoter support
- Mittal Sections passed all five resolutions at its 17th AGM on September 18, 2026
- Promoters voted 100% in favour of all agenda items, including financial statements adoption
- Mrs. Sushiladevi B. Mittal was re-appointed as a director by rotation
- Remuneration revisions for MD Ajaykumar B. Mittal and WTD Atul B. Mittal were approved
*this image is generated using AI for illustrative purposes only.
Mittal Sections Limited has declared the outcome of its 17th Annual General Meeting held on September 18, 2026. All five resolutions, including ordinary and special business, were passed with requisite majority. The promoters cast 100% of their votes in favour of every agenda item.
The meeting was conducted through Video Conferencing or Other Audio-Visual Means (OAVM). A total of 1,399 shareholders were on record as of September 11, 2026. Of these, 20 shareholders attended via video conferencing: six from the promoter group and 14 from the public category. No shareholders were present in person or through proxy.
Voting Process
Remote e-voting facilities were available from 10:00 am on September 15, 2026, to 5:00 pm on September 17, 2026. Shareholders attending the VC meeting could also vote electronically during the proceedings. The facility remained open for 15 minutes after the AGM concluded.
Mr. Umesh Parikh, Partner at M/s. Parikh Dave & Associates, served as the Scrutinizer for the voting process. His report confirmed that the voting process was conducted fairly and transparently in compliance with SEBI (LODR) Regulations and the Companies Act, 2013.
Resolution Outcomes
All five resolutions set out in the notice dated August 14, 2026, were transacted successfully. The combined result of remote e-voting and voting during the AGM is detailed below.
| Resolution Description | Type | Promoter Votes (In Favour) | Public Votes (In Favour) | Total Votes Polled | Result |
|---|---|---|---|---|---|
| Adoption of Financial Statements for FY26 | Ordinary | 78,61,500 | 1,93,000 | 80,56,500 | Passed |
| Re-appointment of Mrs. Sushiladevi B. Mittal | Ordinary | 78,61,500 | 1,91,000 | 80,56,500 | Passed |
| Ratification of Cost Auditors' Remuneration | Ordinary | 78,61,500 | 1,93,000 | 80,56,500 | Passed |
| Revision of Remuneration for Mr. Ajaykumar B. Mittal | Special | 78,61,500 | 1,91,000 | 80,56,500 | Passed |
| Revision of Remuneration for Mr. Atul B. Mittal | Special | 78,61,500 | 1,91,000 | 80,56,500 | Passed |
Key Agenda Items
Adoption of Financial Statements: The first resolution involved receiving, considering, and adopting the audited financial statements, reports of the Board of Directors, and auditors for the year ended March 31, 2026. This ordinary resolution received 99.98% of the votes polled in favour.
Director Re-appointment: The second resolution concerned the re-appointment of Mrs. Sushiladevi Balwantrai Mittal (DIN: 02283607), who was retiring by rotation. The promoters were interested in this agenda item. The resolution passed with 99.95% assent.
Cost Auditors' Remuneration: The third resolution sought ratification of remuneration payable to Cost Auditors for the financial year 2026-27. It was passed as an ordinary resolution with 99.98% support.
Management Remuneration Revisions: Two special resolutions were passed regarding revisions in remuneration effective June 1, 2026:
- Mr. Ajaykumar B. Mittal: Managing Director (DIN: 01760444).
- Mr. Atul Balwantrai Mittal: Whole Time Director (DIN: 02282605).
Both special resolutions received identical voting patterns, with promoters voting unanimously in favour and public shareholders providing 97.95% assent. The promoters were interested in both these agenda items.
Scrutinizer's Report
The Consolidated Scrutinizer's Report submitted by M/s. Parikh Dave & Associates confirmed that the electronic data and relevant records relating to e-voting are under safe custody. The report noted that no invalid votes were recorded for any resolution. The meeting concluded with a vote of thanks to the chair.
Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE833Q01012/8d0dca92-3d5a-42f3-86c3-3cfa9cd0706a.pdf
Historical Stock Returns for Mittal Sections
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +8.33% | +4.42% | -3.35% | -18.47% | -76.08% | -76.08% |
How will the approved remuneration revisions for the Managing Director and Whole Time Director impact Mittal Sections' operational costs and profit margins in FY27?
What strategic initiatives or capital expenditure plans are likely to be prioritized by the board following the adoption of the FY26 financial statements?
Will the re-appointment of Mrs. Sushiladevi B. Mittal signal any upcoming changes in corporate governance structure or promoter family succession planning?
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