Olympia Industries shareholders approved all five resolutions at its 37th Annual General Meeting held on September 9, 2026. The company appointed Vishal Rajgarhia as an independent director and cleared related-party transactions with near-unanimous support.

The meeting was conducted via video conferencing in compliance with Ministry of Corporate Affairs guidelines. It began at 11:30 am and concluded at 12:08 pm. A total of 58 members voted, representing 4,364,393 shares, which accounted for 72.46% of the total paid-up share capital.

Voting Results Overview

All resolutions passed with overwhelming support. Promoter group participation was high for non-related-party items, while promoters abstained from voting on related-party matters as required by regulation.

Key Resolutions Passed

Shareholders approved several key resolutions through remote e-voting. The ordinary business included the adoption of audited financial statements for the fiscal year ended March 31, 2026. Members also approved the re-appointment of Mr. Bhushan Patil as a director, replacing his term retiring by rotation.

Under special business, the company appointed Mr. Vishal Rajgarhia as a Non-Executive Independent Director. Based on the recommendation of the Nomination and Remuneration Committee and the Board of Directors, Mr. Rajgarhia will hold office for a term of five consecutive years, commencing from September 9, 2026 to September 8, 2031.

Mr. Rajgarhia is a Chartered Accountant with extensive experience in manufacturing industries, specializing in business operations and strategic leadership. He possesses strong expertise in financial risk management and portfolio oversight, including prior experience in managing aviation risk portfolios and driving business turnaround initiatives. He is not related to any other director of the company and is not debarred from holding the office of director by virtue of any SEBI order or other authority.

Related Party Transactions

The AGM addressed two material related-party matters requiring shareholder approval. The first resolution approved an increase in remuneration for Mr. Anurag Pansari, Vice President of the company. The second resolution approved material related-party transactions with Tirupati Biz Link LLP.

For these specific resolutions, promoter group members abstained from voting as required under Section 188(1) of the Companies Act and Regulation 23(4) of the SEBI Listing Regulations. Consequently, the votes were cast solely by public shareholders. Mr. Bhushan Patil chaired the proceedings for these specific resolutions, as Chairman and Managing Director Mr. Navin Pansari had an interest in them.

Governance and Compliance

The statutory auditors' report contained no qualifications or adverse remarks. Consequently, the report was taken as read with member permission under Section 145 of the Companies Act, 2013.

Mr. Vinod Kumar Mandawaria served as the scrutinizer for the e-voting process. The voting results and scrutinizer's report have been filed with the stock exchanges pursuant to Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Olympia Industries has convened its 37th Annual General Meeting (AGM) for Wednesday, September 9, 2026, at 11:30 am via Video Conferencing or Other Audio Visual Means (VC/OAVM). The primary objective is to secure shareholder consent for material related-party transactions and key board-level resolutions for the financial year ending March 31, 2026.

Material Related-Party Transactions

The company seeks approval for transactions with Tirupati Biz Link LLP (TBL), in which Chairman & Managing Director Mr. Navin Pansari holds a designated partner interest. The proposed aggregate value for the period from October 1, 2026, to September 30, 2027, is ₹60.36 crore.

The transaction breakdown includes:

These transactions exceed the materiality threshold of ₹31.47 crore, defined as 10% of the company’s turnover for FY25-26. The Audit Committee has approved these deals, citing them as ordinary course business activities conducted on an arm’s length basis.

Board Appointments and Remuneration

Shareholders will vote on the appointment of Mr. Vishal Rajgarhia as a Non-Executive Independent Director for a five-year term starting September 9, 2026. Additionally, the meeting will consider the re-appointment of Mr. Bhushan Patil, who retires by rotation.

A resolution is also placed to increase the monthly remuneration of Mr. Anurag Pansari, Vice President and son of the Chairman, from ₹3,35,000 to ₹3,85,000, effective October 1, 2026.

Financial Performance Context

For FY25-26, Olympia Industries reported revenue from operations of ₹31,475.76 lakh, up from ₹28,247.06 lakh in the prior year. Net profit rose to ₹180.34 lakh from ₹129.55 lakh. However, this improvement was partly driven by a reduction in interest costs, which fell to ₹439.15 lakh from ₹527.82 lakh, while EBITDA remained relatively flat at ₹798.16 lakh against ₹790.02 lakh.

What the Numbers Show

While top-line growth of approximately 11% was recorded, operational efficiency metrics show limited expansion. EBITDA grew marginally by less than 1%, indicating that revenue gains were largely offset by proportional increases in operating expenses. The significant drop in finance costs was the primary driver behind the 39% jump in net profit, rather than core operational leverage.

Voting Details

Remote e-voting opens on Sunday, September 6, 2026, at 9:00 am and closes on Tuesday, September 8, 2026, at 5:00 pm. The cut-off date for determining voting eligibility is Wednesday, September 2, 2026. The Notice of the AGM along with the Annual Report for the Financial Year 2025-26 is being sent through electronic mode to all members whose email IDs are registered as on Friday, August 14, 2026.