Panasonic Energy India Co. Ltd shareholders approved the financial statements for FY26 and a special resolution to shift the registered office from Gujarat to Madhya Pradesh at its 54th annual general meeting.

The meeting, held on September 14, 2026 via video conference, concluded at 2:31 pm. A total of 102 members representing 43,64,194 shares attended. The company disclosed that there were 13,041 shareholders on the record date of September 7, 2026.

Key Resolutions Passed

Members passed five ordinary resolutions and one special resolution during the proceedings. The key outcomes included:

• Adoption of audited standalone financial statements for the year ended March 31, 2026
• Declaration of dividend on equity shares for FY26
• Re-appointment of Mr. Tadasuke Hosoya as a director upon retirement by rotation
• Ratification of remuneration to the cost auditor
• Shifting of the registered office from Gujarat to Madhya Pradesh with consequential alteration of Clause II of the Memorandum of Association

Voting Results Breakdown

The combined voting results of remote e-voting and e-voting conducted at the AGM were scrutinized by Vijay Bhatt & Co. The promoters and promoter group held 43,54,144 shares (58.05% of total outstanding shares) and voted 100% in favor of all resolutions. Public institutions did not cast any votes.

Public non-institutional shareholders, holding 31,45,708 shares, cast 90,343 votes. This segment showed significant dissent, voting against all five resolutions.

All resolutions were passed with the requisite majority.

Auditor Report Highlights

The Company Secretary informed members that the independent auditors, M/s BSR and Co., issued a modified opinion in their report for FY25-26. This qualification relates specifically to the implementation of and compliance with the Battery Waste Management Rules, 2022. Apart from this specific observation, the auditors’ report contained no other qualifications, adverse remarks, or comments.

What the Numbers Show

The voting pattern reveals a stark divergence between promoter and public non-institutional shareholders. While promoters backed every resolution unanimously, public non-institutions voted 83.18% against all proposals. This suggests potential concerns among minority shareholders regarding the strategic move to shift the registered office or other governance matters, despite the smooth passage of all agenda items due to promoter dominance.

Meeting Details

Mr. Akio Fujita, Chairman and Managing Director, chaired the meeting alongside Independent Directors Mr. Jayesh Mehta and Mr. Srinivas Gunta. Mr. Harsh Agarwal, Chief Financial Officer, addressed queries from registered speaker shareholders. Remote e-voting was conducted between September 11 and September 13, 2026, with additional voting available during the live session.

Panasonic Energy India Co. Ltd. has scheduled its 54th Annual General Meeting for Monday, September 14, 2026, at 1:00 pm via video conferencing. The record date for determining dividend eligibility is Saturday, September 5, 2026. The meeting will address the adoption of audited standalone financial statements for FY26, a proposed dividend of ₹1.95 per equity share, and a special resolution to shift the registered office from Gujarat to Madhya Pradesh.

Key Financial Highlights for FY26

The Board of Directors has recommended a final dividend of ₹1.95 per equity share (face value ₹10), representing a yield of 19.50%. This is a significant reduction from the previous year's dividend of ₹9.42 per share (94.20% yield). The total dividend payout will amount to ₹146.25 lakhs.

Revenue remained relatively stable, growing marginally by 0.6% year-on-year. However, profitability contracted sharply due to higher raw material costs and global geopolitical disturbances impacting input prices in the second half of the fiscal year.

What the Numbers Show

The divergence between stable revenue growth and a 70.4% decline in net profit highlights significant margin pressure. Operating profit margins fell to 3.85% in FY26 from 6.65% in FY25. This compression was driven by increased cost of materials consumed and employee benefit expenses, which rose to ₹5,287.93 lakh from ₹5,067.66 lakh. The company noted that tight profit margins led it to optimize existing systems rather than make large software investments during the period.

Special Business: Office Shift

A special resolution seeks shareholder approval to shift the registered office from Vadodara, Gujarat, to Pithampur, District Dhar, Madhya Pradesh. The explanatory statement cites better administrative control, efficient management, and improved operational coordination as drivers for this move. The shift requires Central Government approval and consequent alteration of Clause II of the Memorandum of Association.

The company’s plant is already located in Pithampur, Madhya Pradesh. The registered office remains in Vadodara until the resolution is approved and regulatory clearances are obtained.

Ordinary Business

Shareholders will consider and adopt the audited standalone financial statements for the financial year ended March 31, 2026, along with reports from the Board and Auditors. Mr. Tadasuke Hosoya (DIN 08232012), who retires by rotation, offers himself for re-appointment as a Director.

Additionally, the company seeks ratification for paying ₹1,31,250 plus statutory levies and out-of-pocket expenses to M/s Diwanji & Co., Cost & Management Accountants, Vadodara, for conducting the cost audit for FY27.

Meeting Logistics

The AGM will be conducted via Video Conferencing / Other Audio Visual Means (VC/OAVM) in compliance with Ministry of Corporate Affairs General Circular No. 03/2025. Physical attendance is dispensed with, and proxy appointments are not available.

Remote e-voting is open from September 11, 2026, at 9:00 am to September 13, 2026, at 5:00 pm. Shareholders holding shares as on September 7, 2026, are eligible to vote. The Register of Members and Share Transfer Books will remain closed from September 7, 2026, to September 14, 2026, inclusive, to determine dividend eligibility.