Ratnaveer shareholders approve ₹1,500 crore borrowing limit at AGM
- Shareholders approved increasing borrowing limit from ₹900 crore to ₹1,500 crore
- Seema Sanghavi appointed as Whole-time Director with 99.76% support
- Voting results show near-unanimous approval for all financial and administrative resolutions
- Public Institutions voted against Seema Sanghavi's appointment with 83,767 votes
*this image is generated using AI for illustrative purposes only.
Ratnaveer Precision Engineering Limited shareholders approved a proposal to increase the company's borrowing limit from ₹900 crore to ₹1,500 crore during the 24th Annual General Meeting held on September 26, 2026. The resolution passed with overwhelming majority, signaling potential expansion in capital expenditure or working capital needs.
The meeting, conducted via Video Conferencing and Other Audio-Visual Means, also saw the appointment of Seema Sanghavi as Whole-time Director. The detailed voting results, filed with stock exchanges on September 28, 2026, confirm that all resolutions were duly approved by the members with requisite majority.
Key resolutions approved
The following significant resolutions were adopted by the members:
- Borrowing Limits: Increase from ₹900 crore to ₹1,500 crore, or the aggregate of paid-up capital and free reserves, whichever is higher. This special resolution received 99.9999% votes in favour.
- Director Appointment: Appointment of Seema Sanghavi as Whole-time Director (Executive Director). This special resolution received 99.7646% votes in favour.
- Auditor Reappointment: Reappointment of M/s. Pankaj R Shah & Associates as Statutory Auditors for a second term of five consecutive years. This ordinary resolution received 99.9958% votes in favour.
- Financial Statements: Adoption of audited standalone and consolidated financial statements for FY26. Both resolutions received 99.9999% votes in favour.
Meeting proceedings and attendance
The AGM commenced at 12:00 pm and concluded at 12:52 pm. The quorum was met with 52 members present via video conferencing. As on the cut-off date of September 19, 2026, the company had 62,494 shareholders holding 839.26 million equity shares in aggregate.
Managing Director Vijay Sanghavi addressed the shareholders regarding financial performance, upcoming CCL projects focused on import substitution, brownfield projects involving strategic acquisitions, and Phase-II capital expenditure expansion for organic growth.
Voting results summary
Voting was conducted through electronic means provided by MUFG Intime India Pvt. Limited. Remote e-voting facilities were open from September 23, 2026, at 9:00 am to September 25, 2026, at 5:00 pm. The Scrutinizer, TNT & Associates, submitted the report on September 26, 2026.
| Resolution | Type | Votes in Favour (%) | Votes Against (%) |
|---|---|---|---|
| Adopt Standalone FS FY26 | Ordinary | 99.9999 | 0.0001 |
| Adopt Consolidated FS FY26 | Ordinary | 99.9999 | 0.0001 |
| Reappoint Vijay Sanghavi | Ordinary | 99.9834 | 0.0166 |
| Reappoint Statutory Auditors | Ordinary | 99.9958 | 0.0042 |
| Ratify Cost Auditor Remuneration | Ordinary | 99.9999 | 0.0001 |
| Increase Borrowing Limit | Special | 99.9999 | 0.0001 |
| Create Mortgage/Charge | Special | 99.9999 | 0.0001 |
| Appoint Seema Sanghavi | Special | 99.7646 | 0.2354 |
What the Numbers Show
The voting data reveals strong institutional and public support for the management's expansion plans. While the borrowing limit increase saw virtually unanimous approval (only 1 vote against out of 35.9 million polled), the appointment of Seema Sanghavi as Whole-time Director faced slightly more resistance, with 84,618 votes cast against it, primarily from Public Institutions (83,767 votes). Despite this, the resolution passed comfortably with over 99% support, indicating that while some institutional investors may have reservations about the new directorship, they did not oppose the broader capital expansion strategy.
Historical Stock Returns for Ratnaveer Precision Engineering
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.90% | +10.59% | +25.63% | +136.26% | +103.84% | +156.89% |
How will the ₹600 crore increase in borrowing capacity be allocated between Phase-II organic capital expenditure and strategic brownfield acquisitions?
What specific import substitution opportunities within the CCL projects are driving Ratnaveer's expansion, and what is the expected timeline for revenue contribution?
How might the appointment of Seema Sanghavi as Whole-time Director influence the company's governance structure and operational strategy in the coming fiscal year?
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