Niraj Cement Structurals Limited announced that all resolutions proposed at its 28th Annual General Meeting (AGM) were approved by shareholders with the requisite majority. The meeting was held on September 28, 2026, via Video Conferencing.

The company confirmed compliance with SEBI Listing Regulations and the Companies Act, 2013. Remote e-voting facilities were provided to members from September 25, 2026, to September 27, 2026. Additionally, e-voting was available during the meeting for attendees who had not voted earlier.

Voting Results Breakdown

The scrutinizer's report revealed that public shareholders voted unanimously in favor of all six resolutions. Notably, the promoter group abstained from voting on two resolutions concerning material related party transactions, as they were deemed interested parties.

Key Resolutions Approved

Shareholders adopted the audited standalone and consolidated financial statements for FY26. The board also approved several operational and governance matters:

• Director Re-appointment: Mr. Sudhakar Balu Tandale was re-appointed as a director, retiring by rotation.
• Auditor Remuneration: Ratification of remuneration payable to the Cost Auditor for FY27.
• Investment Limits: Approval to make investments, give loans, guarantees, and security in excess of limits specified under Section 186 of the Companies Act, 2013.
• Related Party Transactions: Approval of material related party transactions with joint ventures M/s. NCSL-RYC and M/s. Yojaka-Niraj.

Meeting Proceedings and Attendance

The AGM commenced at 11:00 am with 67 members present through video conferencing or other audio-visual means. Mr. Vishram Pandurang Rudre, Managing Director and Chairman, presided over the meeting. He provided an overview of the infrastructure industry, the company’s business performance for FY26, and updates on subsidiaries and joint ventures.

Key personnel present included:

The Statutory Auditors' Report and Secretarial Auditors' Report did not contain any qualifications, reservations, adverse remarks, or disclaimers. Consequently, these reports were taken as read during the proceedings.

Governance and Compliance

The meeting adhered to circulars issued by the Ministry of Corporate Affairs (MCA) and SEBI regarding virtual meetings. Physical attendance and proxy appointments were not applicable due to the VC/OAVM format. The Notice convening the AGM and the Annual Report for FY26 were circulated electronically to registered email IDs and dispatched via permitted modes to others. These documents were also made available on the company's website and stock exchange platforms.

Niraj Cement Structurals has scheduled its 28th Annual General Meeting (AGM) for September 28, 2026. The meeting will convene via video conferencing to adopt financial statements for FY26 and approve significant corporate actions, including substantial related-party transactions.

The Board seeks shareholder approval for material related-party transactions with two joint ventures: M/s. NCSL-RYC and M/s. Yojaka-Niraj. The company proposes aggregate transaction limits of ₹100 crore and ₹300 crore per financial year, respectively, over a five-year period commencing from FY27. These transactions involve the sale and purchase of goods or services on an arm's length basis.

Corporate Governance and Financial Highlights

The meeting will also consider a special resolution to increase the limit for investments, loans, guarantees, and security under Section 186 of the Companies Act, 2013. The proposed ceiling is raised from ₹500 crore to ₹750 crore over and above the statutory limits of paid-up capital and free reserves.

Financially, the company reported a standalone revenue from operations of ₹54,043.92 lakh for FY26, up 6.65% year-on-year. Standalone profit after tax rose 41.22% to ₹2,161.99 lakh. The Board did not recommend any dividend for the year, opting instead to conserve resources for future growth opportunities.

What the Numbers Show

The proposed related-party transactions represent a significant portion of the company's operational scale. The combined annual cap of ₹400 crore for transactions with its two joint ventures equates to approximately 74% of the company's total standalone revenue from operations in FY26. This indicates a heavy reliance on these joint ventures for executing infrastructure projects and managing subcontracting activities during the upcoming fiscal cycle.

Other Agenda Items

Shareholders will also vote on the re-appointment of Mr. Sudhakar Balu Tandale as a director, who retires by rotation. Additionally, the remuneration of ₹1 lakh plus taxes for the Cost Auditor, M/s. P.K. Verma & Co., for FY27 requires ratification by the members.