Polson Ltd has disclosed the voting results for its 85th Annual General Meeting (AGM), held on September 30, 2026. All five ordinary and special resolutions proposed by the board were passed unanimously with 100% of valid votes cast in favour.

The company submitted the Consolidated Report of the Scrutinizer to the Bombay Stock Exchange on October 2, 2026. The report, prepared by Practicing Company Secretary Amita Karia, confirmed that no dissenting votes were recorded across any of the agenda items. The meeting took place at the registered office in Kolhapur, Maharashtra, chaired by Managing Director and Chairman Amol Kapadia.

Voting outcomes on key resolutions

The scrutinizer’s report detailed the voting patterns for each resolution. For the adoption of financial statements, director appointments, and related party transactions, a total of 78,772 votes were cast in assent, representing 100% of the total valid votes for the first four items. There were zero dissenting votes or invalid ballots recorded for these items.

Note: The low vote count for Related Party Transactions (3 votes) reflects the exclusion of interested parties from voting on this specific item, as per regulatory norms.

Governance and compliance details

The meeting facilitated remote e-voting through Purva Sharegistry (I) Private Limited from September 27 to September 29, 2026. Members present physically who had not voted electronically cast their votes via ballot paper. The scrutinizer noted that duplicate voting was eliminated by reconciling physical ballots with electronic records.

The Chairman addressed shareholder queries during a question-answer session before concluding the meeting at 10:40 am. Observations made in the Statutory Auditors' Report were explained by the directors, while secretarial audit observations were deemed self-explanatory.

Polson Limited has scheduled its 85th Annual General Meeting (AGM) for September 30, 2026, to transact ordinary and special business. The meeting will convene at the company's registered office in Kolhapur, Maharashtra, at 10:00 am.

Shareholders will consider the re-appointment of Mr. Youhaan Kapadia as an Executive Director by rotation. Additionally, the board seeks approval via special resolution for Mr. Dhau Lambore to continue as a Non-Executive Director beyond the age of 75 years, citing his extensive experience in leather chemicals.

Board Composition Changes

The agenda includes the re-appointment of Mr. Bhavin Suryakant Sheth as an Independent Director for a second term of five years, effective June 30, 2026. The Nomination and Remuneration Committee recommended his continuation based on his expertise in corporate governance and business development.

Mr. Pravin D. Samant resigned as Executive Director effective August 14, 2024. The current board comprises Chairman Rajiv Agarwal, Managing Director Amol Kapadia, and other non-executive and independent directors.

Related Party Transactions

A key special item involves the omnibus approval for related-party transactions with Atlas Refinery Private Limited (ARPL). ARPL is an enterprise where Key Managerial Personnel have significant influence. The company seeks shareholder consent for sales of goods up to ₹30 crore annually.

During FY25, transactions with ARPL totaled ₹22.53 crore. For the current financial year up to the quarter preceding this approval, transactions stood at ₹6.39 crore. The proposed limit represents approximately 25% of the company's annual consolidated turnover from the preceding year.

Corporate Governance Updates

The secretarial audit report highlighted certain compliance gaps. The company has not adequately implemented mechanisms for freezing PANs of promoters and directors as required by SEBI regulations. Furthermore, disclosures regarding trading closure windows were not uploaded in both PDF and XBRL formats for all quarters in FY25-26.

The statutory auditors noted that the company has not maintained proper records of fixed assets, though title deeds for immovable properties are held in the company's name. The management stated it is in the process of updating these records.

Financial Performance Context

For FY25, Polson reported revenue from operations of ₹9,116.03 lakh, a decline from ₹9,328.05 lakh in FY24. Profit after tax fell to ₹474.24 lakh from ₹523.09 lakh in the previous year. The board did not recommend a dividend for FY25, opting to plough back profits for future growth.