Prabhu Steel Industries shareholders adopted the audited financial statements for the fiscal year ended March 31, 2026, during the company's 54th Annual General Meeting (AGM) held on September 25, 2026.

The meeting, chaired by Managing Director Dinesh Gangaram Agrawal, was conducted at the registered office in Nagpur. The proceedings confirmed the adoption of the Balance Sheet and Profit and Loss Account for FY26, along with the reports of the Directors and Auditors.

Key resolutions passed

The shareholders approved several ordinary and special business items, including the reappointment of directors and revisions to remuneration structures that exceed statutory limits under the Companies Act, 2013.

Governance and voting process

The AGM commenced at 9:00 am after ascertaining the requisite quorum. Remote e-voting facilities were available from September 21, 2026, to September 24, 2026, complementing the poll conducted at the meeting. The results of the voting were scheduled to be declared within two working days from the conclusion of the meeting.

The meeting concluded at 10:00 am with a vote of thanks to the members present.

Prabhu Steel Industries has filed its annual report for the financial year 2025-26 with stock exchanges. The company also confirmed its 54th Annual General Meeting (AGM) is scheduled for September 25, 2026, at its registered office in Nagpur.

The Board of Directors approved the resolutions during its session on September 2, 2026. Managing Director Dinesh Gangaram Agrawal signed the intimation issued to exchanges on September 3, 2026. The annual report and notice of the AGM are available on the company's website.

Director Remuneration Revisions

Shareholders will be asked to approve special resolutions to revise the remuneration of Mr. Harish Agrawal (Non-Executive Non-Independent Director), Mr. Dinesh Gangaram Agrawal (Managing Director), and Mr. Krishanu Harish Agrawal (Whole-Time Director). The proposed increase raises their annual compensation to ₹25 lakh each, effective April 1, 2026.

This revision exceeds the limits prescribed under Section 197 and Schedule V of the Companies Act, 2013. The explanatory statement notes that this payment may be made even if it exceeds one percent of the company's net profits or if profits are inadequate. Previously, the remuneration for these roles did not exceed ₹15 lakh per annum.

Enhanced Borrowing Limits

The AGM agenda includes a proposal to enhance the company's overall borrowing limits to ₹200 crore. This special resolution, passed under Section 180(1)(c) of the Companies Act, 2013, allows the board to borrow funds exceeding the aggregate of paid-up capital and free reserves. The additional capital is intended to support business expansion through both organic and inorganic means.

Related Party Transactions

The company also seeks shareholder approval for related party transactions with two entities: Silverstone Infraventures and Ananta Lifespaces. Both are engaged in real estate construction and development.

The transactions with Ananta Lifespaces represent 85% of the listed entity's annual consolidated turnover for the preceding financial year. Funds for these investments will be sourced from internal accruals and borrowings.

Meeting Logistics

The book closure period for the Register of Members and Share Transfer Books is from September 19 to September 25, 2026. E-voting entitlements are determined as of September 18, 2026, with remote e-voting available from September 21 to September 24, 2026. M/s. Jaymin Modi & Co has been appointed as the scrutinizer for the AGM.