Om Power Transmission passes all resolutions at 15th AGM, re-appoints auditors
- All three ordinary resolutions passed at Om Power Transmission's 15th AGM on September 30, 2026
- M/s. SCS and Co LLP re-appointed as Secretarial Auditors for five years covering FY27 to FY31
- Kalpesh Dhanjibhai Patel re-appointed as director with 99.9985% votes in favor
- Promoter group voted 100% of holdings while public shareholder participation remained below 1%
*this image is generated using AI for illustrative purposes only.
Om Power Transmission Limited passed all three ordinary resolutions proposed for shareholder approval during its Fifteenth Annual General Meeting (AGM) held on September 30, 2026. The meeting was conducted through two-way Video Conferencing (VC) and Other Audio-Visual Means (OAVM), complying with regulatory guidelines for virtual general meetings.
The primary resolution involved the adoption of the audited financial statements for the financial year ended March 31, 2026, along with the reports of the Board of Directors and Statutory Auditors. This resolution received overwhelming support, with 99.9992% of votes polled in favor and only 197 votes against out of a total of 23,736,890 votes cast.
Director Reappointment and Auditor Appointment
Shareholders approved the re-appointment of Kalpesh Dhanjibhai Patel (DIN: 03516312) as a director. Patel, who retired by rotation and offered himself for re-appointment, secured approval with 99.9985% of votes in favor. The resolution saw 367 votes against.
Additionally, the company re-appointed M/s. SCS and Co LLP (Firm Registration Number: L2020GJ008700), Practicing Company Secretaries based in Ahmedabad, as the Secretarial Auditors for a term of five consecutive years. This appointment covers the audit period from FY27 to FY31, holding office from the conclusion of the 15th AGM until the conclusion of the 20th AGM in 2031. The firm is Peer Reviewed and Quality Reviewed by the Institute of the Company Secretaries of India. This resolution also passed with 99.9985% of votes in favor and 367 votes against.
What the Numbers Show
The voting data reveals a significant disparity in participation between promoter and public shareholders. Promoters and their group, holding 23,645,073 shares, voted 100% of their holding in favor of all three resolutions. In contrast, public shareholders demonstrated much lower engagement. Public institutions voted only 2,267 shares out of 1,634,807 held (0.14% participation), while public non-institutions voted 89,550 shares out of 8,965,120 held (approximately 1% participation).
| Resolution | Votes Polled | Votes in Favor | Votes Against | % In Favor | Result |
|---|---|---|---|---|---|
| Adoption of Financial Statements | 23,736,890 | 23,736,693 | 197 | 99.9992% | Passed |
| Re-appointment of Director | 23,736,890 | 23,736,523 | 367 | 99.9985% | Passed |
| Appointment of Secretarial Auditor | 23,736,890 | 23,736,523 | 367 | 99.9985% | Passed |
The total number of shareholders on record as of the cut-off date, September 23, 2026, stood at 21,456. Due to the virtual format, physical attendance was not applicable, but 41 members attended via video conferencing (3 from the promoter group and 38 from the public). No invalid votes were recorded across any category.
Historical Stock Returns for Om Power Transmission
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.50% | -7.42% | -10.02% | -18.43% | -18.43% | -18.43% |
How will the extremely low public shareholder participation rates impact Om Power Transmission's future corporate governance ratings and institutional investor confidence?
What specific operational or financial milestones does the company plan to achieve in FY27-FY31 to justify the five-year extension of the Secretarial Auditor's term?
Given the near-total control by promoters, what strategic initiatives or capital allocation plans are expected to emerge from the newly approved financial statements?
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