Padmanabh Alloys & Polymers concluded its 31st Annual General Meeting on September 30, 2026, with shareholders approving the audited financial statements for the fiscal year ended March 31, 2026. The meeting also ratified the appointment of Chetankumar Mohanbhai Desai as a director following his retirement by rotation.

The proceedings took place at the company's registered office in Palsana, Surat, commencing at 11:30 am and concluding at 12:30 pm. The Chairman addressed the members regarding the company's operational performance and thanked them for their continued support during the fiscal year.

Resolutions passed at the meeting

Shareholders voted on three key items of business, covering both ordinary and special agenda points. The resolutions included the adoption of financial reports and the ratification of auditor remuneration for the upcoming fiscal year.

Voting mechanism and scrutiny

The company facilitated remote e-voting through CDSL from September 27, 2026, to September 29, 2026. Members attending the physical meeting who had not previously voted utilized ballot papers. Mr. Kunjal Dalal, Proprietor of M/s K. Dalal & Co., served as the scrutinizer for the voting process.

Results of the voting were scheduled to be submitted to the stock exchanges and uploaded to the company website within two working days of the meeting's conclusion. The Company Secretary proposed a vote of thanks to the Chairman, Directors, and members to close the session.

Padmanabh Alloys & Polymers Limited saw a complete exit by promoter Mala Ishvarlal Naik, who disposed of her entire holding of 24,800 equity shares on September 18, 2026. The transaction reduced her stake in the company to 0%.

The disclosure was filed under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The sale was executed through an off-market mode, with the shares carrying voting rights representing 0.45% of the total share capital prior to the disposal.

Transaction details

The filing confirms that the promoter held no encumbered shares, warrants, or convertible securities before the sale. The total diluted share capital of the company remained unchanged at 54,13,300 equity shares of face value ₹10 each, as the transaction involved existing shares rather than new issuance.

What the numbers show

The data indicates a full liquidation of the promoter's personal stake in Padmanabh Alloys. Prior to the transaction, the holding constituted 0.45% of the company's equity. The absence of any remaining shares or encumbrances post-sale signifies a clean exit for this specific individual within the promoter group, though it does not necessarily imply a change in the broader promoter group's control unless other members' holdings are also affected.