Rishi Techtex Limited has disclosed the combined voting results and scrutinizer report for its 42nd Annual General Meeting (AGM) held on September 24, 2026. All resolutions, including the adoption of FY26 financial statements and a material related-party transaction, were approved with the requisite majority.

The meeting was conducted via Video Conferencing/Other Audio Visual Means (VC/OAVM). A total of 46 members participated remotely, comprising 5 from the promoter group and 41 from the public. The proceedings complied with the Companies Act, 2013, and SEBI Listing Regulations, with e-voting facilitated by Central Depository Services (India) Limited (CDSL).

Voting outcomes on key resolutions

Shareholders voted on three primary agenda items. The audited financial statements for the year ended March 31, 2026, and the re-appointment of director Aakanksha Mikhail Verma received overwhelming support. However, the material transaction with Centennial Fabrics Limited saw distinct voting patterns due to regulatory restrictions on promoter participation.

For the related-party transaction, promoters holding 2,885,248 equity shares abstained from voting as prohibited under Regulation 23(4) of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. Consequently, the resolution was decided solely by non-institutional public shareholders, who cast 86,427 votes, with 85,434 in favour and 993 against.

Governance and compliance details

The scrutinizer, Sudhanwa S. Kalamkar of Sudhanwa S. Kalamkar and Associates, certified the results based on remote and venue e-voting data from CDSL. Remote e-voting remained open from September 20 to September 23, 2026. The cut-off date for eligibility was September 17, 2026.

Key officials present included Jagdish Dokwal (CFO) and Gauri Gangal (Company Secretary). Directors Abhishek Patel, Aakanksha Mikhail Verma, Kunal Rastogi, and Pranab Kumar Chatterjee attended the meeting virtually. Statutory registers were available for inspection at the registered office and via email, ensuring transparency for shareholders without registered email addresses through provided weblinks.

What the Numbers Show

The voting data highlights a significant divergence in shareholder engagement between routine governance items and related-party dealings. While total votes polled for financial adoption stood at 2,970,832 (representing 40.19% of outstanding shares), participation for the related-party transaction dropped sharply to 86,427 votes (2.01% of outstanding shares). This disparity is structurally driven by the mandatory exclusion of promoter shares, which constitute 41.98% of the company's equity base, leaving institutional interest negligible and placing the decision entirely in the hands of retail investors.

Rishi Techtex has scheduled its 42nd Annual General Meeting for September 24, 2026, to seek shareholder approval for a material related-party transaction valued at ₹95 crore. The company will also consider the reappointment of director Mrs. Aakanksha Mikhail Verma.

The meeting will be conducted through Video Conferencing or Other Audio Visual Means, with remote e-voting available from September 20, 2026, to September 23, 2026. The record date for voting eligibility is set as September 17, 2026. In compliance with SEBI Listing Regulations, the company has dispatched letters to shareholders without registered email addresses, providing a web link to access the Annual Report for FY26 and the AGM notice on its website.

Material Related-Party Transaction

The primary special business item involves approving transactions with Centennial Fabrics Limited, a related party. The proposed agreement covers the buy and sell of materials, including BOPP Film and LLDPE Liner, for an aggregate value of up to ₹95 crore over 12 months, effective from April 1, 2027.

The relationship exists because Mrs. Smita Patel, part of the promoter group, holds a majority stake in Centennial Fabrics Limited. Additionally, Mr. Jagdish Dokwal, a Key Managerial Personnel at Rishi Techtex, serves as a director at Centennial Fabrics Limited. The Audit Committee approved the transaction on August 19, 2026, noting it is in the ordinary course of business and on an arm's length basis.

Director Reappointment

Shareholders will vote on the reappointment of Mrs. Aakanksha Mikhail Verma as a Non-Executive, Non-Independent Director. She retires by rotation but is eligible for reappointment. Mrs. Verma holds a Bachelor's Degree in Fashion Marketing and Promotion and brings approximately 13 years of experience in client management and business development. She is the sister of Mr. Abhishek Harshad Patel, the Managing Director.

What the Numbers Show

The proposed ₹95 crore transaction represents 64.64% of the company's annual turnover for the immediately preceding financial year (FY26). This high percentage indicates a significant dependency on Centennial Fabrics Limited for critical packaging materials used in cement industry bags, underscoring the strategic importance of maintaining this supply chain relationship.