Ridhi Synthetics passes all resolutions at 45th AGM
- All three ordinary resolutions passed with 100% votes in favor
- Promoters cast 890,000 votes, constituting 99.49% of total votes polled
- Public non-institutional shareholder participation stood at 1.47%
- Total votes polled amounted to 894,600 out of 1,202,000 outstanding shares
*this image is generated using AI for illustrative purposes only.
Ridhi Synthetics Limited passed all three ordinary resolutions at its 45th Annual General Meeting (AGM) held on September 30, 2026. The meeting, conducted at the company's registered office in Mumbai, saw unanimous approval for financial statements, director reappointment, and auditor appointment.
The scrutinizer's report confirmed that 894,600 votes were cast in favor of each resolution, representing 100% of the total votes polled. No dissenting votes or abstentions were recorded for any of the agenda items.
Voting participation breakdown
Voting rights were determined based on shareholding as of the cut-off date, September 23, 2026. The remote e-voting period ran from September 27 to September 29, 2026. Physical voting via poll papers was available during the AGM on September 30.
| Category | Shares Held | Votes Polled | % of Outstanding | Votes In Favor | Votes Against |
|---|---|---|---|---|---|
| Promoter and Promoter Group | 890,000 | 890,000 | 100.00% | 890,000 | 0 |
| Public Institutions | 0 | 0 | 0.00% | 0 | 0 |
| Public Non-Institutions | 312,000 | 4,600 | 1.47% | 4,600 | 0 |
| Total | 1,202,000 | 894,600 | 74.43% | 894,600 | 0 |
Resolutions passed
The shareholders approved the following ordinary resolutions:
- Adoption of audited financial statements for FY26 and reports of the Board and Auditor.
- Reappointment of Deepa Bhavsar as Director, retiring by rotation under Section 152(6) of the Companies Act, 2013.
- Appointment of Statutory Auditors and fixation of their remuneration.
What the numbers show
The voting data reveals a significant concentration of control within the promoter group. Promoters held 890,000 shares, accounting for 74.04% of the total outstanding equity capital of 1,202,000 shares. During the AGM, promoters cast 100% of their eligible votes via e-voting.
In contrast, public non-institutional shareholders held 312,000 shares but voted only 4,600 shares, resulting in a participation rate of just 1.47%. This disparity highlights that the outcome of the AGM was entirely determined by promoter consensus, with negligible influence from minority shareholders.
Historical Stock Returns for Ridhi Synthetics
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | -100.00% |
How will the near-total absence of institutional investors in Ridhi Synthetics' shareholder base impact the company's future liquidity and valuation multiples?
What strategic initiatives might Deepa Bhavsar prioritize in her new term to address the low public participation and potentially attract broader investor interest?
Given the 100% promoter control over voting outcomes, what governance safeguards are expected to be implemented to protect minority shareholders from potential conflicts of interest?
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