Modern Dairies will hold its 34th Annual General Meeting on September 26, 2026, to approve a significant increase in the financial ceiling for related-party transactions. The Board seeks shareholder consent to raise the annual aggregate transaction limit with Nabha Commerce Private Limited from ₹60 crore to ₹145 crore.

The proposed increase covers the sale and purchase of milk products and services for three years, until the 37th AGM in 2029. The company cited increased business volumes as the driver for this revision. All transactions will continue to be conducted at arm's length and prevailing market prices.

Governance and Appointments

Shareholders will also vote on the reappointment of Mr. Ashwani Kumar Aggarwal as Executive Director (Whole-Time Director) for a three-year term ending in 2029. His monthly salary is set at ₹3 lakh, with perquisites including a 40% house rent allowance and medical reimbursement capped at one month's salary.

Additionally, the meeting will appoint M/s Sanjeev Sharma & Associates as Statutory Auditors for FY27. The total remuneration for statutory audit, tax audit, and GST returns is fixed at ₹11 lakh per annum.

Key Dates

The AGM will be conducted via Video Conferencing or Other Audio Visual Means. Remote e-voting will be facilitated by NSDL.

Modern Dairies promoter group increased its shareholding to 33.40% of the total voting capital following the conversion of warrants into equity shares.

The acquisition, executed on August 25, 2026, involved 16,00,000 shares allotted to promoter Mr. Krishan Kumar Goyal and persons acting in concert (PAC). The move was disclosed under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Shareholding Changes

The promoter group’s holding rose from 29.65% to 33.40%. In diluted terms, the stake increased from 26.40% to 31.41%.

Mr. Krishan Kumar Goyal remains the largest individual holder within the group, with his stake rising from 14.07% to 15.98%. Mrs. Alka Goyal’s holding increased from 12.77% to 13.42%, while Mala Builders Private Limited saw its stake grow from 2.81% to 4.00%.

Capital Structure Impact

The conversion of warrants issued on a preferential basis expanded the company’s equity share capital. Total voting capital stood at ₹28,41,98,610 before the transaction and rose to ₹30,01,98,610 post-acquisition.

The total diluted share capital, assuming full conversion of outstanding convertible securities, is reported at ₹31,91,98,610. No encumbrances or pledges were reported on the newly acquired shares.