Modern Shares & Stockbrokers disclosed the voting results for its 87th Annual General Meeting held on September 8, 2026. All three resolutions proposed at the meeting were passed with requisite majority, reflecting strong shareholder backing for the board’s governance decisions.

The company had previously reported a net profit of ₹23.52 lakh for FY26, a 44% increase from ₹16.35 lakh in FY25. The board decided not to declare a dividend for the current fiscal year, citing market volatility driven by tariff uncertainties and geopolitical conflicts.

Voting Results Overview

The AGM was conducted via video conference in compliance with Ministry of Corporate Affairs and SEBI circulars. Remote e-voting was open from September 3 to September 7, 2026. A total of 3,100 shareholders were on record as of September 1, 2026.

Thirty-eight shareholders attended the meeting through video conferencing, comprising six promoters and 32 public shareholders. The voting process was scrutinized by CS Anil Jani of Anil Jani & Company.

Governance Resolutions

Shareholders approved the reappointment of Mr. Narendra Hira Advani as a director, who retires by rotation. Notably, two promoter shareholders holding 4,55,799 shares abstained from voting on this resolution, though it still passed with overwhelming support from other stakeholders.

The special resolution allowed Mr. Pankaj Rajnikant Ved to continue as Chairman and Non-Executive Independent Director despite attaining the age of 75 on June 2, 2027. This resolution received unanimous support from promoter group votes, with all 21,34,784 shares voted in favor.

Shareholder Participation

Promoter group shareholders held 21,34,784 shares (72.8% of total outstanding), while public non-institutional shareholders held 7,96,341 shares. Public institutions held no shares as per the record date.

For Resolution 1 (Financial Statements) and Resolution 3 (Chairman Continuation), promoters voted 100% of their shares in favor. For Resolution 2 (Director Reappointment), promoters polled 16,78,985 votes (78.6% of their holdings), with the remainder abstaining.

Public non-institutional shareholders showed consistent support across all resolutions, voting approximately 99.98% in favor for each item. Only 16 votes were cast against any of the resolutions across all categories.

Meeting Proceedings

The meeting was chaired by Mr. Pankaj Rajnikant Ved with all directors and key managerial personnel attending via video conference. Key attendees included Whole Time Director Mr. Anil Sugno Manghnani and CFO Mr. Radhakrishna Narayan Shenvi. Statutory auditors M/s B D G & Co LLP were represented by CA Nikhil Rathod.

Chairman Pankaj Rajnikant Ved highlighted that while large-cap stocks showed mixed movements, midcap, small-cap, and microcap names demonstrated strong traction. He noted that SIP inflows remained robust and foreign investors turned net buyers in the last two months of the fiscal year.

Modern Shares & Stockbrokers Limited has scheduled its 87th Annual General Meeting (AGM) for Tuesday, September 08, 2026, at 11:30 a.m., to be conducted through Video Conferencing or Other Audio Visual Means (OAVM). The meeting aims to transact ordinary business, including the adoption of audited financial statements for FY26, and special business concerning key board appointments. This governance update is critical for shareholders as it involves a regulatory waiver for the Chairman’s tenure and the retention of a long-serving director. Additionally, the company has confirmed the dispatch of letters to shareholders whose email addresses are not registered with the company, Registrar and Share Transfer Agent (RTA), or Depository Participants, providing a web link to access the Integrated Annual Report for FY26.

The Board has proposed a special resolution under Regulation 17(1A) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, to continue Mr. Pankaj R Ved as Chairman & Non-Executive Independent Director. Mr. Ved will attain the age of 75 years on June 02, 2027. The explanatory statement notes that his continuation is in the interest of the company due to his valuable expertise. Additionally, shareholders are asked to reappoint Mr. Narendra H Advani as a Non-Executive Director, who retires by rotation and has offered himself for reappointment. Both directors drew nil remuneration during the year.

Shareholders holding shares as of the cut-off date, Tuesday, September 01, 2026, are eligible to vote. The remote e-voting period commences at 9:00 a.m. on Thursday, September 03, 2026, and ends at 5:00 p.m. on Monday, September 07, 2026. The Register of Members and Share Transfer Books will remain closed from Tuesday, September 01, 2026, to Tuesday, September 08, 2026, inclusive, to determine voting eligibility and update the register. Physical attendance is dispensed with; participation is strictly via VC/OAVM.

Key Governance and Financial Highlights

The financial statements for the year ended March 31, 2026, were audited by B D G & Co LLP, who issued an unqualified opinion. The company reported no cash losses during the current or immediately preceding financial year. Net fixed assets stood at ₹11.77 lakhs as of March 31, 2026, compared to ₹10.10 lakhs in the previous year. The company has not accepted any public deposits under Section 73 of the Companies Act, 2013, though it holds exempt deposits from Axis Bank Limited amounting to ₹19.50 lakhs.

What the Numbers Show

The company’s asset base remains modest, with net fixed assets increasing marginally from ₹10.10 lakhs to ₹11.77 lakhs year-on-year. This stability aligns with the firm’s service-oriented business model in stock broking, which does not require heavy capital expenditure. The high dematerialisation rate of 98.65% indicates strong compliance with market norms and reduced operational risk associated with physical share certificates. The absence of cash losses and the clean audit report suggest stable operational health despite the small scale of fixed assets.

Procedurally, the company has appointed Anil Jani, Practicing Company Secretary, as the Scrutinizer for the e-voting process. Institutional shareholders must submit scanned copies of board resolutions authorizing their representatives to vote via email to the Scrutinizer and the company’s compliance department. The results of the poll, along with the Scrutinizer’s Report, will be uploaded on the company’s website and communicated to BSE Limited within two working days of the meeting’s conclusion. Members are requested to register their email addresses with their respective Depository Participants or RTA to receive future communications electronically.