MTAR Technologies passes all resolutions at 27th AGM
- MTAR Technologies passed all six resolutions at its 27th AGM held on September 28, 2026
- Special resolutions for increased borrowing limits and asset charges received 99.18% support
- Director re-appointments for Rohith Loka Reddy and Anushman Reddy were approved
- Financial statements for FY26 were adopted with near-unanimous shareholder approval
*this image is generated using AI for illustrative purposes only.
MTAR Technologies passed all six resolutions proposed at its 27th Annual General Meeting (AGM) held on September 28, 2026. The meeting was conducted via video conferencing and other audio-visual means.
The agenda included the adoption of audited financial statements for FY26, re-appointment of two directors, ratification of cost auditor remuneration, and special resolutions to increase borrowing limits and create charges on assets. All resolutions were approved by shareholders through remote e-voting and polling at the meeting.
Voting Results Overview
The voting process was supervised by S.S Reddy & Associates. The table below summarizes the outcome of the key resolutions:
| Resolution | Type | In Favour (%) | Against (%) | Result |
|---|---|---|---|---|
| Adoption of Financial Statements | Ordinary | 99.99% | 0.01% | Passed |
| Re-appointment of Rohith Loka Reddy | Ordinary | 97.23% | 2.77% | Passed |
| Re-appointment of Anushman Reddy | Ordinary | 98.13% | 1.87% | Passed |
| Ratification of Cost Auditor Remuneration | Ordinary | 99.99% | 0.01% | Passed |
| Increase in Borrowing Limits | Special | 99.18% | 0.82% | Passed |
| Creation of Mortgage/Charge on Assets | Special | 99.18% | 0.82% | Passed |
Key Approvals and Governance
Shareholders approved the adoption of the standalone and consolidated audited balance sheet, statement of profit and loss, and cash flow statement for the year ended March 31, 2026. The board's report and auditors' reports were also adopted.
Two directors retiring by rotation, Mr. Rohith Loka Reddy and Mr. Anushman Reddy, were re-appointed. While both received majority support, Mr. Rohith Loka Reddy faced slightly higher dissent with 2.77% votes against compared to 1.87% for Mr. Anushman Reddy.
The company secured approval to increase the limits of borrowing by the board under Section 180(1)(c) of the Companies Act, 2013. Additionally, shareholders granted permission under Section 180(1)(a) for the creation of mortgage or charge on the company's assets, properties, or undertakings. These special resolutions received 99.18% support from voting shareholders.
Meeting Proceedings
The meeting commenced at 3:00 pm and concluded at 4:07 pm. A total of 68 members attended through video conferencing. The Chairman, B.V.R Subbu, addressed the members, and queries regarding financials and future outlook were answered by the management team.
Remote e-voting was open from September 25 to September 27, 2026. Voting rights were reckoned as of the cut-off date, September 21, 2026.
Historical Stock Returns for MTAR Technologies
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +2.50% | -1.80% | +2.08% | +98.91% | +272.57% | 0.0% |
What specific capital expenditure projects or expansion initiatives will the newly approved borrowing limits fund?
How will the increased borrowing capacity impact MTAR Technologies' debt-to-equity ratio and overall credit rating in the coming quarters?
Which specific assets or undertakings are likely to be pledged as collateral under the newly authorized mortgage resolutions?
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