Mahanagar Telephone Nigam has confirmed the closure of its register of members and share transfer books from Thursday, September 24, 2026, to Wednesday, September 30, 2026. This closure is in compliance with Section 91 of the Companies Act, 2013, and Regulation 42 of the SEBI (LODR) Regulations, 2015.

The company will hold its 40th Annual General Meeting (AGM) on Wednesday, September 30, 2026, at 11:30 am via video conferencing or other audio-visual means. The notice was issued on September 5, 2026, by Company Secretary Ratan Mani Sumit.

Key Agenda Items

The AGM notice outlines several ordinary and special business items for shareholder approval:

• Appointment of Government Nominee Directors: Shareholders are asked to approve the appointments of Shri Shyamal Misra and Shri K Balaji as Government Nominee Directors. Both were initially appointed as Additional Directors by the Department of Telecommunications effective July 8, 2026.
• Reappointment of Director: Dr Kalyan Sagar Nippani, Director (HR & EB), retires by rotation and offers himself for reappointment.
• Auditor Remuneration: The Board seeks approval to fix the remuneration of statutory auditors appointed by the Comptroller & Auditor General of India for FY27.
• Cost Auditor Fees: The meeting will ratify the remuneration of M/s R.M. Bansal & Co. as Cost Auditors for FY27. The total fee is fixed at ₹1,12,100, comprising ₹80,000 in professional fees and ₹15,000 for out-of-pocket expenses, plus GST.

Voting and Participation Details

The company has established specific timelines for remote e-voting and register closure:

Shareholders can participate in the AGM through the VC/OAVM facility provided by Central Depository Services (India) Limited. Participation is available on a first-come, first-served basis for up to 1,000 members, excluding large shareholders, promoters, and institutional investors who have unrestricted access.

Mahanagar Telephone Nigam submitted its Business Responsibility and Sustainability Report (BRSR) for FY26 to stock exchanges on September 5, 2026. The filing details the company's operational transition as it hands over telecom services to Bharat Sanchar Nigam Limited (BSNL) while focusing on asset monetization.

Operational Restructuring

The report confirms that BSNL has undertaken the maintenance and operational activities of MTNL's telecom services in Delhi and Mumbai effective January 1, 2025. Under a service agreement dated November 22, 2024, BSNL is responsible for capital expenditure (CAPEX) and operating expenses (OPEX) related to these operations. MTNL will retain its land and building assets to discharge loan liabilities.

Financial Overview

For FY26, MTNL reported a total turnover of ₹1468.81 crore. Infrastructure leasing contributed the largest share at 34.53% of turnover, followed by basic and other telecom services at 25.96%. The company recorded a net worth of negative ₹29974.84 crore.

Regulatory Penalties

MTNL disclosed monetary penalties imposed by regulators during the fiscal year. The National Stock Exchange and BSE levied a fine of ₹65.67 lakh for non-compliance with board composition requirements regarding independent directors. Additionally, the Telecom Regulatory Authority of India (TRAI) imposed multiple financial disincentives totaling approximately ₹50 lakh for violations of Quality of Service regulations across broadband and wireline services.

What the Numbers Show

The revenue mix indicates a structural shift away from active service provision. With infrastructure leasing accounting for nearly one-third of turnover and wireless activities contributing just 1.15%, the data reflects the successful offloading of core telecom operations to BSNL. The absence of CAPEX allocation for FY26 further validates this transition to an asset-holding model.

Human Capital & Compliance

The company employed 2795 permanent employees as of March 31, 2026, with a turnover rate of 0.515%. CSR provisions under Section 135 of the Companies Act were not applicable due to the company's financial position. The report notes that no disciplinary actions were taken against directors or employees for bribery or corruption charges.