Padmanabh Industries 32nd AGM resolutions pass with requisite majority
- All five resolutions at Padmanabh Industries' 32nd AGM held on September 30, 2026 were passed with requisite majority
- Resolution 1 (adoption of FY26 financial statements) and Resolution 3 (auditor appointment to fill casual vacancy) received 100% of votes in favour, with 6,04,518 total shares voting for
- Resolution 2 (re-appointment of Ms. Manali Rajeshbhai Patel) and Resolution 5 (appointment of Akash Bharatkumar Parmar as Managing Director) received 99.17% of total votes in favour
- M/s. M A A K & Associates (FRN: 135024W) was appointed as statutory auditors following the resignation of M/s. S K Bhavsar & Co.
- Scrutinizer's consolidated report was submitted by CS Dharti Patel of M/s. Dharti Patel & Associates on October 1, 2026
*this image is generated using AI for illustrative purposes only.
Padmanabh Industries held its 32nd Annual General Meeting on September 30, 2026, where all five resolutions were passed with requisite majority, as confirmed in the scrutinizer's report submitted on October 1, 2026.
The meeting was held at 11:00 am at the company's registered office in Ahmedabad, Gujarat. Remote e-voting was facilitated through Central Depository Services (India) Limited from 9:00 am on September 27, 2026 to 5:00 pm on September 29, 2026, with the cut-off date for voting entitlement set at September 23, 2026. CS Dharti Patel, Proprietor of M/s. Dharti Patel & Associates, served as the Scrutinizer and submitted the consolidated report on October 1, 2026.
Key resolutions passed
Shareholders voted on both ordinary and special business items. The table below summarises the resolutions and their outcomes.
| Resolution | Description | Outcome |
|---|---|---|
| Resolution 1 (Ordinary) | Adoption of standalone financial statements for FY26 | Passed |
| Resolution 2 (Ordinary) | Re-appointment of Ms. Manali Rajeshbhai Patel (DIN: 11196600) | Passed |
| Resolution 3 (Ordinary) | Appointment of statutory auditor to fill casual vacancy | Passed |
| Resolution 4 (Ordinary) | Appointment of statutory auditor | Passed |
| Resolution 5 (Ordinary) | Appointment of Mr. Akash Bharatkumar Parmar (DIN: 11570362) as Managing Director | Passed |
Detailed voting results
The scrutinizer's report provides a resolution-wise breakdown of votes cast through remote e-voting and venue voting.
Resolution 1: Adoption of standalone financial statements for FY26
| Mode | Members voted | Votes cast (shares) | % in favour |
|---|---|---|---|
| Remote e-voting (in favour) | 16 | 7,049 | 100% |
| Venue voting (in favour) | 19 | 5,97,469 | 100% |
| Total (in favour) | 35 | 6,04,518 | 100% |
| Remote e-voting (against) | 1 | 1 | 0.00% |
| Venue voting (against) | 0 | 0 | 0.00% |
| Total (against) | 1 | 1 | 0.00% |
Resolution 2: Re-appointment of Ms. Manali Rajeshbhai Patel (DIN: 11196600)
| Mode | Members voted | Votes cast (shares) | % in favour / against |
|---|---|---|---|
| Remote e-voting (in favour) | 15 | 2,049 | 29.06% |
| Venue voting (in favour) | 19 | 5,97,469 | 100% |
| Total (in favour) | 34 | 5,99,518 | 99.17% |
| Remote e-voting (against) | 2 | 5,001 | 70.94% |
| Venue voting (against) | 0 | 0 | 0.00% |
| Total (against) | 2 | 5,001 | 0.82% |
Resolution 3: Appointment of statutory auditor to fill casual vacancy (M/s. M A A K & Associates)
| Mode | Members voted | Votes cast (shares) | % in favour |
|---|---|---|---|
| Remote e-voting (in favour) | 16 | 7,049 | 100% |
| Venue voting (in favour) | 19 | 5,97,469 | 100% |
| Total (in favour) | 35 | 6,04,518 | 100% |
| Remote e-voting (against) | 1 | 1 | 0.00% |
| Venue voting (against) | 0 | 0 | 0.00% |
| Total (against) | 1 | 1 | 0.00% |
Resolution 4: Appointment of statutory auditor
| Mode | Members voted | Votes cast (shares) | % in favour |
|---|---|---|---|
| Remote e-voting (in favour) | 16 | 7,049 | 100% |
| Venue voting (in favour) | 19 | 5,97,469 | 100% |
| Total (in favour) | 35 | 6,04,518 | 100% |
| Remote e-voting (against) | 1 | 1 | 100% |
| Venue voting (against) | 0 | 0 | 0.00% |
| Total (against) | 1 | 1 | 100% |
Resolution 5: Appointment of Mr. Akash Bharatkumar Parmar (DIN: 11570362) as Managing Director
| Mode | Members voted | Votes cast (shares) | % in favour / against |
|---|---|---|---|
| Remote e-voting (in favour) | 15 | 2,049 | 29.06% |
| Venue voting (in favour) | 19 | 5,97,469 | 100% |
| Total (in favour) | 34 | 5,99,518 | 99.17% |
| Remote e-voting (against) | 2 | 5,001 | 70.94% |
| Venue voting (against) | 0 | 0 | 0.00% |
| Total (against) | 2 | 5,001 | 0.83% |
Auditor appointment and procedural compliance
The meeting addressed the resignation of the previous statutory auditors, M/s. S K Bhavsar & Co., which created a casual vacancy. Members approved the appointment of M/s. M A A K & Associates, Chartered Accountants (FRN: 135024W), as the new statutory auditors. The voting results were submitted to BSE Ltd pursuant to Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the scrutinizer's report was prepared under Section 108 of the Companies Act, 2013 read with Rule 21(2) of the Companies (Management and Administration) Rules, 2014. Managing Director Akash Parmar digitally signed the submission on October 1, 2026.
Historical Stock Returns for Padmanabh Industries
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +8.67% | +9.10% | +5.16% | -20.57% | -23.76% | +103.75% |
What specific factors contributed to the resignation of the previous statutory auditors, M/s. S K Bhavsar & Co., and will this impact the reliability of FY26 financial statements?
How does the appointment of new Managing Director Mr. Akash Bharatkumar Parmar align with Padmanabh Industries' strategic growth plans for the upcoming fiscal year?
Given the 70.94% opposition from remote e-voters on key appointments, are there underlying governance concerns that might affect future shareholder confidence or stock liquidity?
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