Riddhi Siddhi Gluco Biols Limited has officially declared the voting results for its 35th Annual General Meeting held on September 25, 2026. All six resolutions proposed in the notice dated August 31, 2026, were passed by shareholders through remote e-voting and live e-voting during the meeting. The results were submitted to BSE Limited on September 28, 2026, following the scrutiny report by Kinjal Shah.

The meeting was conducted via Video Conferencing and Other Audio Visual Means in compliance with Ministry of Corporate Affairs and SEBI circulars. Ganpatraj L. Chowdhary served as Chairman of the Board, while Balvirmal M. Singhvi addressed shareholder queries. Achinto Das from statutory auditors Batliboi and Purohit Chartered Accountants also participated virtually.

Quorum and Attendance

A valid quorum was established with 34 shareholders holding 69,404 equity shares present at the meeting. The total number of shareholders as on the cut-off date of September 18, 2026, was 3,867. The remote e-voting window opened on September 22, 2026, at 9:00 am and closed on September 24, 2026, at 5:00 pm. Members who did not cast votes remotely voted during the meeting for 15 minutes after its conclusion.

Resolution Outcomes

Shareholders approved the adoption of both standalone and consolidated audited financial statements for FY26. The resolution to declare a dividend on equity shares for FY26 was passed with 99.99% votes in favour among public non-institutional shareholders, while promoters voted unanimously in favour.

Key resolutions passed include:

• Adoption of Financial Statements: Passed with 99.91% votes in favour overall.
• Re-appointment of Director: Siddharth Chowdhary (DIN: 01798350), retiring by rotation, was re-appointed with 99.91% votes in favour.
• Dividend Declaration: Approved with 100% votes in favour (negligible against).
• Auditor Re-appointment: M/s. Batliboi & Purohit Chartered Accountants were re-appointed for a second term of five years with 99.91% votes in favour.
• Independent Director Appointment: Taral Shah (DIN: 00005375) was appointed as an Independent Director with 99.91% votes in favour.
• Related Party Transaction: Approval for borrowings from Bluecraft Agro Private Limited was granted with 98.70% votes in favour from eligible shareholders.

What the Numbers Show

The voting data highlights a significant concentration of power within the promoter group, which holds 53,47,339 shares out of a total outstanding shareholding of 71,29,786 shares. This represents approximately 75% of the equity. Consequently, promoter votes alone were sufficient to pass all ordinary and special resolutions, as seen in the unanimous support from the promoter category across all items. For the related party transaction involving Bluecraft Agro Private Limited, promoter group members abstained or their votes were invalid due to interest, leaving the decision entirely to public shareholders, where it still passed comfortably with nearly 99% support from those who voted.

Riddhi Siddhi Gluco Biols has scheduled its 35th Annual General Meeting (AGM) for September 25, 2026. The meeting will seek shareholder approval for a ₹200 crore borrowing from related party Bluecraft Agro Private Limited and the appointment of Taral Shah as an independent director.

The board meeting held on August 31, 2026, approved these proposals alongside the re-appointment of M/s. Batliboi & Purohit as statutory auditors for a five-year term starting FY27. Shareholder approval is required to finalize all appointments and transactions.

Related-Party Borrowing

The company proposes to borrow up to ₹200 crore from Bluecraft Agro Private Limited (BAPL) to meet working capital requirements and support ongoing expansion, including the acquisition of a corn milling plant in Karnataka. The transaction is classified as a material related-party transaction under SEBI LODR regulations.

Key terms of the proposed borrowing include:

• Tenure: Five years with an option for early repayment.
• Interest Rate: Not less than the prevailing yield of five-year G-Sec.
• Security: Unsecured.
• Covenants: The company must maintain a net worth above ₹1,000 crore (excluding revaluation reserve).

The borrowing is expected to impact the company's debt service coverage ratio, which is projected to decrease from 1.64 to 0.89 post-transaction, while the debt-to-equity ratio remains unchanged at 0.07. Mr. Siddharth Chowdhary, Whole-Time Director of Riddhi Siddhi, holds an 82.56% stake in BAPL.

Director Appointments

Taral Shah, Managing Director of Shivalik Group, has been appointed as an additional non-executive independent director for a first term of five years (August 31, 2026 – August 30, 2031). Shah brings over two decades of experience in real estate and construction.

Additionally, Mr. Siddharth Chowdhary (DIN: 01798350), who retires by rotation, offers himself for re-appointment as a director. He currently serves as the Whole-Time Director.

Auditor Re-appointment

The board approved the re-appointment of M/s. Batliboi & Purohit, Chartered Accountants, Mumbai (Firm Registration No. 101048W), as statutory auditors. This marks their second term of five consecutive financial years, covering FY27 through FY31. The firm will hold office from the conclusion of the 35th AGM until the conclusion of the 40th AGM in 2031.

AGM Details

The 35th AGM will be conducted via Video Conferencing/Other Audio Visual Means (VC/OAVM). The record date for determining members eligible to vote and receive dividends is fixed at September 18, 2026. Remote e-voting will commence on September 22, 2026, and end on September 24, 2026.