Orient Ceratech shareholders approve all five resolutions at 55th AGM
- All five ordinary resolutions passed at Orient Ceratech's 55th AGM held on September 24, 2026
- Shareholders approved a dividend of ₹0.35 per equity share with 99.998% assent
- Adoption of FY26 audited standalone and consolidated financial statements received 99.997% assent
- Re-appointment of Manubhai Rathod as Director passed with 99.996% assent
- Approval of material related party transactions with Bombay Minerals Limited secured 99.420% assent
*this image is generated using AI for illustrative purposes only.
Orient Ceratech Limited shareholders approved all five ordinary resolutions proposed at the company's 55th Annual General Meeting (AGM), held on September 24, 2026. The approvals included the adoption of FY26 financial statements, a dividend declaration, and the re-appointment of a director, with assent votes exceeding 99% for most items.
The meeting was conducted through Video Conferencing (VC) and Other Audio-Visual Means (OAVM). Chairman Harish Motiwalla presided over the session, confirming the requisite quorum with 33 members participating via video conferencing. Statutory Auditors M/s. Sanghavi & Co. were present virtually to address queries, though no qualifications were raised.
Key resolutions and management updates
Managing Director Manan Shah provided an overview of the company’s performance for FY26, highlighting operations across its three core segments: refractories, ceramic raw materials, and specialist ceramics. He addressed industry risks and outlined strategies to mitigate them, alongside future business prospects.
During the question-and-answer session, Shah clarified that competitors vary due to the diverse product basket, though the company primarily caters to the steel sector. He noted that Corporate Social Responsibility (CSR) initiatives focus on women development and educational programs within the manufacturing and mining sectors.
Voting results summary
Voting was conducted through remote e-voting administered by Central Depository Services Limited (CDSL). The remote e-voting window was open from September 21, 2026, at 9:00 am to September 23, 2026, at 5:00 pm. Members who did not vote remotely had the opportunity to vote electronically during the meeting.
The following table summarizes the voting results for each resolution:
| Item | Resolution | Assent (%) | Dissent (%) | Result |
|---|---|---|---|---|
| 1 | Adopt audited standalone and consolidated financial statements for FY26 | 99.997% | 0.003% | Passed |
| 2 | Declare dividend of ₹0.35 per equity share (35% on face value of ₹1) | 99.998% | 0.002% | Passed |
| 3 | Re-appoint Manubhai Rathod as Director (retiring by rotation) | 99.996% | 0.004% | Passed |
| 4 | Approve existing and new material related party transactions with Bombay Minerals Limited | 99.420% | 0.580% | Passed |
| 5 | Ratify remuneration of Cost Auditor | 99.999% | 0.001% | Passed |
Dipti Gohil, Practicing Company Secretary, was appointed as the Scrutinizer to scrutinize the votes cast. The consolidated scrutinizer's report confirmed that all resolutions were passed with the requisite majority. The meeting concluded at 11:40 am.
Historical Stock Returns for Orient Ceratech
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.82% | +4.48% | +2.63% | +29.22% | +21.51% | +57.68% |
How will the declared dividend of ₹0.35 per share impact Orient Ceratech's future capital allocation strategy and reinvestment plans for its specialist ceramics segment?
What specific market trends in the steel sector are driving the company's strategic adjustments to mitigate industry risks mentioned by the Managing Director?
How might the approved related party transactions with Bombay Minerals Limited influence the company's supply chain resilience and cost structure in the coming fiscal year?
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