Neil Industries Limited concluded its 43rd Annual General Meeting (AGM) on Saturday, September 26, 2026, with all proposed resolutions passed by the requisite majority. The meeting, conducted via Video Conferencing and Other Audio-Visual Means, saw members approve the audited financial statements for FY26 and director re-appointments.

The company reported a net profit of ₹148.39 lakh for the financial year ended March 31, 2026. This figure was highlighted in the Managing Director’s message, which also emphasized the role of Non-Banking Financial Companies (NBFCs) in financial inclusion and the company’s lending activities supporting MSMEs.

Voting Results and Key Resolutions

The voting process involved remote e-voting prior to the meeting and e-voting during the AGM. A total of 55 members attended virtually, while 120 members had already cast their votes through remote e-voting. One additional member voted during the meeting. The scrutinizer, Anurag Fatehpuria, confirmed that all three items of business were approved with overwhelming support.

Summary of Voting Outcomes

Governance and Board Changes

The AGM addressed significant governance matters through two specific appointments. First, Mr. Pankaj Kumar Mittal was re-appointed as a Director in place of himself, having retired by rotation and offered himself for re-election. Second, Mr. Anil Sharma was re-appointed as a Non-Executive Independent Director via a special resolution, underscoring continuity in independent oversight.

The meeting commenced at 11:00 am and concluded at 11:21 am. Mr. Arvind Kumar Mittal, Chairman and Managing Director, presided over the session. The Statutory Auditors' Report and Secretarial Audit Report were taken as read, with no qualifications or adverse comments noted.

What the Numbers Show

A close examination of the voting data reveals a highly aligned shareholder base. Across all three resolutions, approximately 99.52% of valid votes cast were in favour. The dissenting votes remained consistent at roughly 0.48% across ordinary and special resolutions alike. This uniformity suggests that the minority opposition is likely driven by a small, consistent group of shareholders rather than issue-specific concerns, as the vote count against each item varied by only one vote (12,634 vs 12,635). Furthermore, the low turnout relative to the total shareholder count of 4,230 indicates that active participation is concentrated among a smaller subset of investors, with promoters casting 100% of their held shares.

Neil Industries will hold its 43rd Annual General Meeting on Saturday, September 26, 2026, at 11:00 am through video conferencing or other audio-visual means. The meeting aims to transact ordinary and special business items related to board appointments and financial approvals.

The company has set September 18, 2026, as the cut-off date for determining shareholders eligible for e-voting. The book closure period runs from September 19, 2026, to September 26, 2026. Remote e-voting facilities will be available from September 23, 2026, at 9:00 am until September 25, 2026, at 5:00 pm.

Board Re-Appointments

Shareholders will consider the re-appointment of Mr. Pankaj Kumar Mittal as a Non-Executive Non-Independent Director. Mr. Mittal retires by rotation and is eligible for re-appointment. He holds an LLB degree and has served as an advocate for 24 years. His father is Nirmal Kumar Mittal, and he is the brother of the Managing Director, Mr. Arvind Kumar Mittal. Mr. Mittal attended 11 board meetings during the financial year and drew no remuneration.

The special business item involves the re-appointment of Mr. Anil Sharma as a Non-Executive Independent Director for a second consecutive five-year term. The term commences on August 12, 2026, and continues until the conclusion of the AGM in calendar year 2031 or the expiry of five years, whichever is earlier. Mr. Sharma, aged 51, is a consultant with expertise in the finance sector. He attended eight board meetings during the financial year and also drew no remuneration.

Voting and Participation Details

Skyline Financial Services Private Limited serves as the Registrar and Share Transfer Agent. National Securities Depository Limited (NSDL) facilitates the remote e-voting process. Members holding shares in demat mode with NSDL or CDSL can vote through their respective depository portals. Physical shareholders must use their folio numbers and EVEN numbers for login.

Mr. Anurag Fatehpuria, a Practicing Company Secretary, has been appointed as the Scrutinizer for the e-voting process. The scrutinizer will unlock votes within two working days of the conclusion of the e-voting period. Results will be declared on the company website and communicated to BSE Limited within two days of passing the resolutions.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE396C01010/b20c9715-60e6-459c-b4de-2b381c6a78a4.pdf