Modison Limited held its 43rd Annual General Meeting (AGM) on Tuesday, July 21, 2026, through video conferencing and other audio-visual means. The meeting, which commenced at 5:30 p.m. IST and concluded at 6:53 p.m. IST, was conducted in compliance with the Companies Act, 2013, and relevant circulars issued by the Ministry of Corporate Affairs and the Securities and Exchange Board of India (SEBI). The proceedings were webcast live on the National Depository System Limited (NSDL) website.

Mr. Jayant Govindrao Kulkarni, Non-Executive Independent Director, chaired the meeting, which was attended by 40 members. The requisite quorum was present throughout the session. Key managerial personnel, including Chief Executive Officer Murlidhar Narayan Nikam, Chief Financial Officer Mr. Ramesh Mangilal Kothari, and Company Secretary & Compliance Officer Ms. Pooja Birendra Sinha, were in attendance. The statutory auditors and secretarial auditors were also present via video conference.

The Chairman provided an overview of the company's performance for the financial year 2025-26, emphasizing operational excellence, innovation, and sustainability. The CEO presented a comprehensive review of financial highlights, business performance, and strategic initiatives. The Auditor's Report on the Financial Statements for the year ended March 31, 2026, contained no qualifications or adverse remarks.

Shareholders voted on several resolutions through remote e-voting and e-voting during the meeting. The ordinary business included the adoption of audited financial statements for the standalone and consolidated entities, the confirmation of interim dividend and declaration of final dividend, and the re-appointment of a director liable to retire by rotation.

The special business transacted included the ratification of remuneration payable to cost auditors for FY2026-27 and the approval of a material related party transaction with Modison Copper Private Limited. Shareholders also approved resolutions under Section 180(1)(C) and Section 180(1)(A) of the Companies Act, 2013, regarding the company's overall borrowing limits and the creation of mortgages or charges on its assets.

The consolidated voting results and the Scrutinizer's Report will be submitted to the stock exchanges and uploaded on the company’s website within two working days from the conclusion of the meeting.

Modison Ltd has declared a final dividend of ₹3 per equity share of face value ₹1 each (300%) for the financial year 2025-26, subject to shareholder approval at the Annual General Meeting (AGM) scheduled for July 21, 2026. The Board of Directors, in its meeting on May 22, 2026, recommended the payout, which will be paid within 7 days of the AGM. The company has outlined the tax deduction at source (TDS) applicability for the dividend, which is taxable in the hands of shareholders under the Indian Income Tax Act, 2025.

For resident shareholders, TDS will be deducted at 10% if the aggregate dividend exceeds ₹10,000, provided a valid Permanent Account Number (PAN) is linked with Aadhaar. A higher rate of 20% applies if the PAN is invalid or inoperative. Specific categories such as insurance companies, mutual funds, and Category I/II Alternate Investment Funds are exempt from TDS upon submission of valid declarations. Non-resident shareholders can avail benefits under Double Tax Avoidance Agreements (DTAA) by submitting documents like the Tax Residency Certificate and Form 41.

Shareholders must submit necessary forms, such as Form 121 for exemption or lower withholding certificates, to the Registrar and Transfer Agent, M/s. Purva Sharegistry Private Limited, by July 17, 2026, to ensure correct tax deduction. Non-resident and institutional shareholders must send documents directly to Modison Limited. The company emphasized that failure to provide details may result in higher TDS deduction, though shareholders can claim refunds while filing income tax returns.

Key AGM and Dividend Details

The Register of Members will remain closed from July 15, 2026, to July 21, 2026. The dividend will be paid to Beneficial Owners as per the list furnished by NSDL and CDSL as of the close of business hours on the record date. The Board also recommended the confirmation of an interim dividend of ₹2.50 per share already paid during FY26.