Modulex Construction Technologies Limited shareholders approved the adoption of audited financial statements for FY26 and the reappointment of Managing Director Ajay Palekar at its 53rd Annual General Meeting held on July 23, 2026. The resolutions passed with a combined vote of 96.22% in favor, reflecting strong promoter backing despite moderate public participation. The meeting, conducted via video conferencing, addressed routine corporate governance matters including the ratification of standalone and consolidated accounts for the fiscal year ended March 31, 2026.

The Board placed two ordinary business resolutions before the members. The first sought approval for the financial statements along with the Directors’ Report and Auditors’ Report. The second proposed the reappointment of Mr. Ajay Palekar (DIN: 02708940), who retires by rotation and is eligible for reappointment. All resolutions were passed with the requisite majority as per the Companies Act, 2013, and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Voting Results

A total of 1,89,29,625 valid votes were polled out of 7,10,70,298 shares held by shareholders on the record date of July 16, 2026, representing a turnout of 26.63%. Promoter and promoter group holdings, totaling 1,62,18,113 shares, voted unanimously in favor of both resolutions. Public non-institutional shareholders, holding 5,48,50,985 shares, cast 27,11,512 votes, with 73.64% supporting the resolutions. No institutional holders participated in the voting process.

Remote e-voting was available from July 20, 2026, at 9:00 a.m. IST until July 22, 2026, at 5:00 p.m. IST. Voting facilities remained open during the meeting for attendees who had not cast remote votes. Dharmesh M. Zaveri, a practicing company secretary appointed as scrutinizer, oversaw the e-voting process and confirmed that all procedures were conducted fairly and transparently.

Procedural Compliance

The proceedings were filed pursuant to Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Bhoomi Mewada, Company Secretary and Compliance Officer, signed the disclosure document. The document explicitly states that it does not constitute the official minutes of the AGM, which will be prepared separately. Chairman Suchit Punnose chaired the session, which commenced at 12:30 p.m. IST and concluded at 1:04 p.m. IST, with the requisite quorum present throughout.

Modulex Construction Technologies Limited has scheduled its 53rd Annual General Meeting for Thursday, July 23, 2026, at 12:30 P.M. IST via Video Conferencing. The meeting will transact ordinary business, including the adoption of audited financial statements for the financial year ended March 31, 2026, and the re-appointment of Ajay Palekar as Managing Director. The record date for determining member eligibility for the AGM notice is June 26, 2026.

The board has recommended the re-appointment of Ajay Palekar, who retires by rotation and is eligible for re-appointment. Palekar, who holds 2,23,048 shares in the company, was first appointed to the board on March 10, 2018. The proposed remuneration for the re-appointment is ₹24,00,000 per annum, though he had voluntarily waived his salary during the previous financial year due to the company's losses.

In compliance with Ministry of Corporate Affairs circulars, the AGM will be held entirely through Video Conferencing or Other Audio Visual Means without a physical venue. Consequently, the facility for appointing proxies is not available. The deemed venue for the meeting is the company's Registered Office at A-82, MIDC Industrial Estate, Indapur, Pune.

Shareholders can participate in remote e-voting from July 20, 2026, at 9:00 AM to July 22, 2026, at 5:00 PM. Members holding shares in demat form can vote through their depository accounts using CDSL Easi or NSDL IDeAS facilities. Those holding physical shares or non-individual shareholders must log in to www.evotingindia.com . The company has appointed Mr. Dharmesh Zaveri of M/s. D. M. Zaveri & Co as the Scrutinizer for the e-voting process.

The Register of Members and Share Transfer books will remain closed from Friday, July 17, 2026, to Thursday, July 23, 2026, both days inclusive. Members seeking information or clarifications on the accounts are requested to write to the company at least seven days in advance of the meeting.