Pitti Engineering Limited concluded its 42nd Annual General Meeting on September 18, 2026, with shareholders unanimously approving the audited financial statements for FY26 and declaring a final dividend. The scrutinizer’s report confirmed that all five resolutions passed with requisite majority.

The meeting was held through Video Conferencing or Other Audio Visual Means in compliance with Ministry of Corporate Affairs and SEBI circulars. It commenced at 4:00 pm IST and concluded at 4:51 pm IST.

Key Resolutions Passed

Members voted via remote e-voting facilitated by MUFG Intime India Private Limited. The voting window for remote e-voting ran from September 15 to September 17, 2026. E-voting at the meeting remained active for 15 minutes after its conclusion.

The following resolutions were approved:

• Adoption of audited standalone and consolidated financial statements for FY26.
• Declaration of final dividend for FY26.
• Reappointment of Akshay S Pitti as a director upon retirement by rotation.
• Ratification of remuneration for Cost Auditors for FY27.
• Approval to maintain registers and returns at a location other than the registered office.

Voting Results and Participation

According to the consolidated scrutinizer’s report issued by Saurabh Poddar & Associates, the total number of shareholders on the record date (September 11, 2026) was 42,497. The promoter group held 20,399,999 shares, while public institutions held 7,909,444 shares and non-institutional public shareholders held 9,344,145 shares.

Promoter shareholders voted in favour of all resolutions with 100% support, casting votes on their entire holding of 20,399,999 shares. Public institutional investors participated actively, polling 71.56% of their outstanding shares for most resolutions, with all polled votes cast in favour. Non-institutional public shareholders had a lower participation rate of 0.58%, though their votes were also overwhelmingly in favour.

For Resolution 5 regarding the maintenance of registers, there were 100 votes against the resolution from the non-institutional public category, resulting in a slight deviation from unanimous support, though the resolution still passed with 99.9996% approval.

Governance and Compliance

The Statutory Auditors' Report and Secretarial Audit Report contained no qualifications or observations. Consequently, these reports were not read out during the meeting as per Companies Act provisions.

Shri Sharad B Pitti, Founder and Chairman, addressed member queries. Akshay S Pitti, Managing Director and CEO, was absent due to exigencies. All other directors were present.

Ms. Mary Monica Braganza, Company Secretary and Chief Compliance Officer, managed the proceedings. She confirmed that statutory registers were available for electronic inspection. The scrutinizer's report and voting results will be submitted to stock exchanges within two working days.

Pitti Engineering has received approval from the National Company Law Tribunal for the merger of Pitti Industries and Dakshin Foundry with itself.

Merger details

The NCLT's approval marks the formal regulatory clearance for the consolidation of Pitti Industries and Dakshin Foundry into Pitti Engineering. The merger brings together the three entities under a single corporate structure.

The NCLT's order represents a key milestone in the consolidation process, as tribunal approval is a mandatory step for mergers and amalgamations under Indian corporate law.