SAL Automotive shareholders approved all seven resolutions proposed at the 51st Annual General Meeting (AGM), including a final dividend of ₹2 per equity share for FY26. The voting results, disclosed on September 22, 2026, show overwhelming support with over 99.99% of valid votes cast in favour across most items.

The AGM was held via Video Conferencing on September 21, 2026, commencing at 3:00 pm and concluding at 4:00 pm. Remote e-voting was facilitated through NSDL from September 18 to September 20, 2026. The cut-off date for determining voting entitlements was September 14, 2026. Mr. Ajay Kumar Arora, Practicing Company Secretary, served as the scrutinizer and confirmed that all resolutions were passed with the requisite majority under the Companies Act, 2013.

Key Resolutions and Voting Outcomes

The following table summarizes the voting results for the key agenda items:

Governance and Compliance Details

The meeting was presided over by Chairman Rajiv Sharma and attended by 49 members physically or virtually. The statutory auditors, M/s Mangla Associates, and secretarial auditors from M/s A. Arora & Company were present to address queries. The Company Secretary, Gagan Kaushik, confirmed adherence to SEBI Listing Regulations and MCA circulars regarding virtual meetings.

Voting rights were reckoned based on shareholding as on the cut-off date. Promoters and Promoter Group held 3,596,570 shares, casting 100% of their votes in favour of all resolutions. Public non-institutional holders participated actively, with minor dissenting votes recorded against the reappointments of Independent Director Uttam Sahay (43 votes against) and Managing Director Rama Kant Sharma (44 votes against). Institutional holders did not cast any votes during this period.

Director Reappointment Terms

The shareholders approved specific terms for the reappointments of key leadership figures. Mr. Rama Kant Sharma was reappointed as Managing Director for a term of five consecutive years, effective February 4, 2027. His remuneration was approved for a period of three years in compliance with the Companies Act, 2013.

Mr. Uttam Sahay was reappointed as an Independent Director for a second term of three consecutive years, effective January 31, 2027, through January 30, 2030. He is entitled to sitting fees for attending Board or Committee meetings within prescribed limits, along with reimbursement for travel and incidental expenses incurred in performing his duties. Neither director is related to any other director of the company, nor are they debarred from holding office by SEBI or other authorities.

What the Numbers Show

The voting data reveals a highly concentrated shareholder base where promoter influence is decisive. Promoters held approximately 75% of the total outstanding shares (3,596,570 out of 4,795,426 shares). Consequently, their unanimous support ensured the passage of all resolutions regardless of public sentiment. While public non-institutional investors expressed slight dissent on director reappointments (approximately 3.6% of their votes against), this had no material impact on the outcome due to the low overall participation rate from the public category relative to the promoter block.

SAL Automotive has filed its annual report for the financial year ended March 31, 2026, and scheduled its 51st Annual General Meeting (AGM) for Monday, September 21, 2026. The meeting will be held via video conference at 3:00 pm. Members are set to adopt the audited financial statements and approve the final dividend.

The Board of Directors recommended a final dividend of ₹2 per equity share during its meeting on May 22, 2026. The record date for determining eligible shareholders is fixed as Monday, September 14, 2026. If approved at the AGM, the total cash outflow for the dividend will be ₹95.91 lakh. The payout is subject to tax deduction at source (TDS) as per applicable income tax laws.

Governance and Board Re-appointments

Shareholders will vote on several key governance resolutions, including the re-appointment of Mr. Rama Kant Sharma as Managing Director for a five-year term commencing February 4, 2027. His proposed remuneration includes a basic salary of ₹3,00,000 per month and other allowances of ₹6,00,000 per month. The Board noted that this remuneration may be paid as minimum remuneration in case of inadequate profits, subject to statutory limits.

Members will also approve the re-appointment of Independent Director Mr. Uttam Sahay for a second term of three years, effective January 31, 2027, up to January 30, 2030. Additionally, Non-Executive Non-Independent Director Mr. Rajiv Sharma retires by rotation and offers himself for re-appointment.

Financial Performance Overview

The company reported total income of ₹38,676 lakh for FY26, an increase from ₹37,949 lakh in FY25. Net profit stood at ₹429 lakh, down from ₹527 lakh in the prior year. Total expenses rose to ₹38,087 lakh from ₹37,162 lakh. Reserves and surplus grew to ₹4,132 lakh from ₹4,063 lakh.

What the Numbers Show

While top-line revenue expanded by approximately 2% year-on-year, net profit contracted by roughly 18%. This divergence indicates that cost pressures or margin compression offset the growth in sales volume during FY26, resulting in a thinner bottom line despite higher turnover. The decline in profit before tax margins was further influenced by an increase in other overheads, including personnel costs and administrative expenses.

Corporate Actions and Voting Details

The AGM agenda includes ratifying the remuneration of M/s. SDM & Associates as Cost Auditors for FY27 at ₹85,000 plus taxes. Members will also approve a new Memorandum of Association to align with the Companies Act, 2013, replacing references to the repealed Companies Act, 1956.

E-voting will be facilitated by NSDL, with remote voting open from September 18 to September 20, 2026. The final dividend will be payable on or before October 20, 2026. The company also transferred ₹97,250 in unclaimed dividends and 861 equity shares to the Investor Education and Protection Fund (IEPF) during the year.

Shareholders who have not registered their email addresses can access the Annual Report and AGM Notice via the company’s website. The company has complied with Regulation 36(1)(b) of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, by sending letters with web-links to such shareholders.