Modern Steels Limited shareholders overwhelmingly approved all six resolutions at the 52nd Annual General Meeting held on September 26, 2026. The company subsequently filed the consolidated scrutinizer’s report with BSE on September 28, 2026, confirming that each resolution received more than 99% of valid votes in favour.

The meeting, conducted via Video Conferencing and Other Audio Visual Means (VC/OAVM), saw remote e-voting results finalized by Scrutinizer Rajeev Kumar Sanger of Sanger & Associates. The report details voting patterns for financial adoption, director re-appointments, and auditor appointments, showing minimal dissent across all items.

Voting Results Summary

The scrutinizer’s report confirms that no resolution faced significant opposition. For ordinary business items such as the adoption of FY26 financials and auditor appointment, dissenting votes amounted to less than 0.01% of total valid votes. Similarly, special business resolutions regarding leadership changes saw negligible opposition.

Key Resolutions Passed

Shareholders approved several ordinary and special business items during the meeting. These included the adoption of financial reports, auditor appointments, and significant leadership changes within the board structure.

Board Composition Updates

The meeting facilitated changes to the board of directors to ensure compliance and continuity in governance. Krishan Kumar Goyal, who retired by rotation, was re-appointed as a director. Additionally, the board expanded its independent oversight capabilities.

Dr. Surinder Kumar was appointed as a Non-Executive Independent Director for a period of five years. Prof. Anupama Sharma was re-appointed as a Non-Executive Independent Director for a second term, also spanning five years. These appointments underscore the company's focus on maintaining robust corporate governance standards.

Auditor Appointment Details

Shareholders approved the appointment of M/s. Sanjeev Sharma & Associates, Chartered Accountants (Firm Registration No. 12326N), as the Statutory Auditors of the Company for a term of one year. The firm will hold office from the conclusion of this AGM until the conclusion of the Annual General Meeting to be held in 2027.

Established in 1993, the firm is registered with the ICAI, C&AG, and RBI. It specializes in statutory, concurrent, revenue, stock, and internal audits, alongside GST consultancy and income tax advisory. The firm has served prominent public sector banks such as State Bank of India, Punjab National Bank, and UCO Bank, as well as government organizations like NIELIT and HSSIDC.

Director Profiles and Appointments

The new board appointments bring specific expertise to Modern Steels' governance structure:

• Krishan Kumar Goyal (CMD): Re-appointed for five years with DIN 00482035. He has extensive experience in the steel business and modern management practices. He previously served as Chairman of the CII Chandigarh Council (NR) from 2003 to 2006 and was a member of the Board of Governors at Punjab Engineering College, Chandigarh.
• Dr. Surinder Kumar (Non-Executive Independent Director): Appointed for five years with DIN 11032078. Aged 62, he holds a Ph.D. in Dairy Technology from NDRI Karnal. With over 35 years of experience in the dairy development sector, he served as Assistant Commissioner (Dairy Development) in the Ministry of Agriculture, Govt. of India. He also has experience as an Independent Director on a BSE-listed company board.
• Prof. Anupama Sharma (Non-Executive Independent Director): Re-appointed for a second term of five years with DIN 10306038. She is the Vice Chancellor of Madan Mohan Malaviya University of Technology, Gorakhpur, and a former Chairperson at Panjab University. Recognized among the top 2% scientists globally by Stanford Elsevier, she has over 30 years of teaching and research experience, having published more than 120 research papers and two books.

Voting and Compliance

Rajeev Kumar Sanger, Practicing Company Secretary, served as the Scrutinizer for the remote e-voting process. The results of the voting conducted at the AGM are scheduled to be announced within two working days from the conclusion of the meeting. These results will be communicated to stock exchanges and displayed on the company’s website as well as the NSDL platform.

Modern Steels will hold its 52nd Annual General Meeting on Saturday, September 26, 2026, at 2:00 pm via video conferencing. The agenda focuses on key board composition changes and the appointment of a new statutory auditor.

Shareholders holding shares as on the cut-off date of September 19, 2026, are eligible to vote. Remote e-voting will commence on September 23, 2026, at 9:00 am and conclude on September 25, 2026, at 5:00 pm.

Key Resolutions

The agenda includes several ordinary and special resolutions concerning board composition and statutory appointments:

• Reappointment of Chairman: Shareholders will vote to reappoint Mr. Krishan Kumar Goyal as Chairman and Managing Director until the conclusion of the AGM in 2031. His monthly salary is set at ₹2,00,000 plus perquisites.
• Independent Directors: The meeting seeks approval for the appointment of Dr. Surinder Kumar as a Non-Executive Independent Director for a five-year term. It also proposes the reappointment of Prof. Anupama Sharma for a second five-year term.
• Statutory Auditor: M/s Sanjeev Sharma & Associates will be appointed as Statutory Auditors for one year, with a total remuneration of ₹2,50,000 per annum.

Meeting Logistics

The Register of Members and Share Transfer Books will remain closed from September 20, 2026, to September 26, 2026. Physical copies of the Annual Report and AGM Notice are not being dispatched in compliance with recent Ministry of Corporate Affairs and SEBI circulars. Soft copies are available on the company website.

Mr. Rajeev Kumar Sanger has been appointed as the Scrutinizer for the voting process.

Shareholder Communication and KYC Update

The company has issued an intimation regarding the dispatch of the 52nd AGM notice and Annual Report for FY26. Pursuant to Regulation 30 and Regulation 36(1)(b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, letters containing web links to these documents have been sent to shareholders who have not registered their email addresses with the company, Registrar & Transfer Agent (RTA), or Depository Participant.

Modern Steels has reminded shareholders to update their Know Your Customer (KYC) details and dematerialise physical securities. This aligns with SEBI Master Circular No. HO/38/13/(4)2026-MIRSD-POD-II/4298/2026 dated February 6, 2026, and SEBI Master Circular No. SEBI/HO/MIRSD/POD-1/P/CIR/2024/37 dated May 7, 2024. The regulations mandate listed companies to record PAN, address with PIN code, mobile number, bank account details, specimen signature, and nomination choices for security holders.

Shareholders holding securities in physical mode are requested to update their email addresses to continue receiving important information. Updates can be made through Depository Participants for electronic holdings or by contacting the RTA, MCS Share Transfer Agent Limited.