Nagpur Power & Industries adopted its audited financial statements for the fiscal year ended March 31, 2026, during its 30th Annual General Meeting held on September 29, 2026. The meeting, conducted via video conferencing, also saw the re-appointment of key board members.

The proceedings included the adoption of both standalone and consolidated financial statements, along with the reports of the Board of Directors and Auditors. The audit report contained no qualifications, allowing the documents to be taken as read without detailed reading during the session.

Board resolutions and re-appointments

Shareholders passed ordinary and special resolutions to stabilize the leadership structure. Ms. Nidhi Salampuria, who retired by rotation, was re-appointed as a director. Additionally, Mr. Gautam Khandelwal was re-appointed as Whole-Time Director designated as "Executive Chairman" under special business items.

Meeting logistics and voting process

The AGM commenced at 3:00 pm and concluded at 3:06 pm. It was attended by directors including Shyam Kanbargi, Virat Mehta, and Ajit Kantelia, alongside Chief Financial Officer Santosh Khandelwal and Company Secretary Akansha Patel. The meeting complied with Ministry of Corporate Affairs and SEBI circulars regarding virtual meetings.

Voting was conducted through remote e-voting prior to the meeting, with an additional 15-minute window for live e-voting during the AGM for members who had not voted earlier. The consolidated voting results, including the Scrutinizer's Report from DSM and Associates, will be submitted to BSE Limited within the stipulated time frame as per Regulation 44(3) of the SEBI Listing Regulations.

Nagpur Power & Industries has confirmed September 22, 2026 as the record date for its 30th Annual General Meeting. This cutoff determines voting eligibility for shareholders attending the meeting scheduled for September 29, 2026.

The company issued this intimation pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Shareholders holding equity shares on the record date will be eligible to exercise their voting rights. The register of members and share transfer books will remain closed from September 23 to September 29, 2026.

Board and Management Changes

The primary special business item involves the reappointment of Mr. Gautam Khandelwal as Whole-Time Director designated as Executive Chairman. The Board proposes a three-year tenure starting July 1, 2026. His annual remuneration is set at ₹24,00,000.

Mr. Khandelwal has served as Chairman and Executive Director since July 1, 2004. He holds a BA in Economics from the University of Mumbai and studied Economics at the London School of Economics. He brings over 36 years of business experience across various industries.

Ms. Nidhi Salampuria retires by rotation at the AGM. Being eligible, she offers herself for reappointment as a Director. She holds a CS and LLB qualification and possesses extensive experience in corporate secretarial matters and legal affairs.

Operational Context

The explanatory statement highlights challenges in the company’s core operations. The firm manufactures high, medium, and low carbon ferro manganese and silico manganese slag. Revenue declined due to a shortage of raw material, specifically slag.

To mitigate this, the company entered a new business segment by acquiring a majority stake in The Motwane Manufacturing Company Private Limited (MMCPL) a couple of years ago. This strategic shift aims to diversify revenue streams amidst raw material constraints in the primary ferro alloy segment.

Meeting Logistics

The meeting will be held through Video Conferencing or Other Audio Visual Means. Remote e-voting will be available from September 24 to September 28, 2026.

The deemed venue for the AGM is the registered office in Mumbai. Physical attendance is not required. Institutional members must submit board resolutions authorizing representatives to vote via email before the meeting.

Shareholders can join the virtual meeting thirty minutes before the scheduled start time of 3:00 pm. The facility is available on a first-come, first-served basis for up to 1,000 members, though large shareholders and promoters face no such restriction.

Queries regarding the financial statements or agenda items must be submitted by September 22, 2026.