Nalin Lease Finance discloses unanimous AGM voting results
- Voting results for 35th AGM disclosed under Regulation 44(3)
- Resolution on FY26 financials passed with 100% support from 5.43 million votes
- Promoters abstained from voting on director re-appointment due to interest
- Public non-institutional shareholders cast 525,556 votes, all in favour
- Total outstanding shares stood at 6,558,180 as per cut-off date September 17, 2026
*this image is generated using AI for illustrative purposes only.
Nalin Lease Finance Limited disclosed the detailed voting results of its 35th Annual General Meeting (AGM) held on September 24, 2026. The company confirmed that both ordinary resolutions placed before shareholders were passed with a 100% majority in favour among those who voted.
The meeting, conducted via Video Conferencing and Other Audio Visual Means, saw a total of 5,435,891 votes polled on the first resolution regarding the adoption of FY26 financial statements. This represented 82.89% of the company's outstanding shares. For the second resolution concerning the re-appointment of Dilipkumar Nalinkant Gandhi as a Director, promoters and promoter group members abstained from voting due to their interest in the matter. Consequently, only public non-institutional shareholders voted, casting 525,556 votes, all in favour.
Voting breakdown
The scrutiny report issued by CS Amrish Gandhi highlighted distinct participation patterns across shareholder categories. While promoters voted unanimously on financial statements, they recused themselves from the director re-appointment vote. Public institutional investors recorded zero participation in both resolutions.
| Resolution | Category | Votes Polled | In Favour | Against | % Favour |
|---|---|---|---|---|---|
| Adoption of FY26 Financials | Promoter Group | 4,910,335 | 4,910,335 | 0 | 100% |
| Adoption of FY26 Financials | Public Non-Institutional | 525,556 | 525,556 | 0 | 100% |
| Re-appointment of Gandhi | Promoter Group | 0 | 0 | 0 | N/A |
| Re-appointment of Gandhi | Public Non-Institutional | 525,556 | 525,556 | 0 | 100% |
Meeting proceedings and compliance
The AGM commenced at 12:00 pm and concluded at 12:20 pm. Dilipkumar Gandhi, Chairman and Whole-Time Director, welcomed members from Himatnagar. Harsh Gandhi, Managing Director, delivered a speech providing an overview of the company’s operations and financial performance during FY26. Remote e-voting facilities were provided through MUFG Intime India Private Limited. The voting window opened on September 21, 2026, at 9:00 am and closed on September 23, 2026, at 5:00 pm.
Key attendees included Pallaviben Dilipkumar Gandhi (Whole-time Director), Ashwinbhai Prajapati (Independent Director), Hiren Soni, Samsad Alam Khan (Independent Directors), and Nikul Patel (Chief Financial Officer). The company noted that requests for questions from shareholders Manjit Singh and Sarvajit Singh could not be addressed as they did not attend the virtual meeting.
What the numbers show
The data reveals a significant concentration of voting power with the promoter group, which holds 4,910,335 shares out of 6,558,180 total outstanding shares. On the first resolution, promoters accounted for roughly 90% of the total votes polled. However, on the second resolution, the absence of promoter votes shifted the entire weight to public shareholders. Despite this shift, the unanimity of the public vote suggests strong alignment between management and the retail investor base regarding governance matters.
Historical Stock Returns for Nalin Lease Finance
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -2.52% | -1.91% | -0.36% | -6.14% | -16.04% | +22.23% |
How will the complete absence of institutional investor participation in the AGM influence Nalin Lease Finance's future capital raising strategies and credibility with large funds?
What specific operational or financial metrics from FY26 drove the unanimous support for the financial statements, and how do they compare to industry benchmarks for lease finance companies?
Given the high promoter concentration, what governance safeguards are planned to ensure minority shareholder interests remain protected in future related-party transactions?
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