Procal Electronics India Limited concluded its 34th Annual General Meeting (AGM) on September 29, 2026, passing both agenda items with requisite majorities. However, the reappointment of statutory auditor M/S SSKV & Associates drew notable dissent from public shareholders, who cast 1,554 votes against the resolution.

The meeting, conducted via Video Conferencing (VC) and Other Audio-Visual Means (OAVM), saw participation from 17 members. The first resolution, regarding the adoption of the audited balance sheet and profit and loss account for FY26, passed with 99.9998% of polled votes in favour. Only one vote was recorded against this item.

Voting on Financial Statements

The adoption of financial documents received near-unanimous support from both promoter and public categories. Promoters held a significant voting block, casting 532,200 votes in favour. Public non-institutional investors participated with 29,634 votes, of which only one was cast against the resolution.

Auditor Reappointment Dissent

The second resolution sought the reappointment of M/S SSKV & Associates, Chartered Accountants (FRN 13590114), as statutory auditors. While promoters voted unanimously in favour, public non-institutional shareholders showed divergence. Of the 29,634 votes polled by this group, 1,554 votes were cast against the appointment, representing 5.24% of the public votes polled.

Despite this dissent, the overall majority remained secure due to the promoter block's weight. The total votes in favour stood at 560,280, while total votes against were 1,554, resulting in an overall approval rate of 99.72%.

What the Numbers Show

A clear divergence exists between promoter alignment and public sentiment regarding the statutory auditor. While promoters supported the reappointment with 100% of their votes, public non-institutional shareholders registered a 5.24% dissent rate. This contrasts sharply with the adoption of financial statements, where public dissent was negligible at 0.0034%. The data suggests that while the broader governance and financial reporting were accepted, a specific segment of the minority shareholder base had reservations about the continuity of the current audit firm.

Procal Electronics India Limited has scheduled its 34th Annual General Meeting for Tuesday, September 29, 2026, at 3:00 pm. The meeting will be conducted through Video Conferencing (VC) or Other Audio-Visual Means (OAVM) to transact ordinary and special business.

The Board of Directors approved the schedule during its meeting on September 7, 2026, at the company’s registered office in Mumbai. The session also finalized the adoption of the audited financial statements for FY26.

AGM Agenda and Business Items

The AGM will address two primary categories of business:

• Ordinary Business: Adoption of the audited Balance Sheet as at March 31, 2026, and the Profit and Loss Account for the year ended on that date, along with the Directors’ and Auditors’ Reports.
• Special Business: Re-appointment of M/s SSRV & Associates, Chartered Accountant (FRN 135901W), as Statutory Auditors. They will hold office from the conclusion of the 34th AGM until the conclusion of the 38th AGM.

Logistics and E-Voting Details

Key logistical approvals and shareholder instructions include:

• Record Date: Shareholders holding shares as on September 22, 2026, are eligible to vote. The Register of Members and Transfer Books will remain closed from September 23, 2026, to September 29, 2026.
• Remote E-Voting: The voting period begins on September 26, 2026, at 9:00 am and ends on September 28, 2026, at 5:00 pm. Votes cast during this period cannot be changed subsequently.
• Scrutinizer: M/s Nitesh Chaudhary & Associates, Practising Company Secretaries, were appointed as the Scrutinizer for the AGM.
• Authorization: Mr. Mahendra Kumar Bothra, Managing Director, was authorized to conduct the AGM and manage the e-voting process.

Regulatory Compliance

The intimation was issued pursuant to Regulation 30 and Regulation 42 of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015. The notice was signed by Mahendra Kumar Bothra, Managing Director (DIN: 01103297).

The Board also approved and authorized directors and representatives to attend the AGMs of investee companies. Certificates regarding the CFO Code of Conduct and Corporate Governance as on March 31, 2026, were taken on record.