Sangam approves ₹2 dividend, ₹3000 crore borrowing at AGM
Sangam (India) Limited shareholders approved a ₹2 per share dividend for FY26 and authorised the Board to borrow up to ₹3000 crore at the 40th AGM held on June 29, 2026. The meeting also approved the re-appointment of Director Mr. R.P. Soni and the ratification of cost auditor remuneration. All six resolutions passed with the required majority, with no qualifications in the audit reports.
*this image is generated using AI for illustrative purposes only.
Sangam (India) Limited shareholders approved a dividend of ₹2 per equity share for the financial year ended March 31, 2026, and authorised the Board to borrow up to ₹3000 crore at its 40th Annual General Meeting (AGM) held on June 29, 2026. The meeting, conducted via video conferencing, also saw the re-appointment of Mr. R.P. Soni (DIN: 00401439) as Director, liable to retire by rotation. All six resolutions were passed with the requisite majority, as detailed in the scrutinizer's report submitted to the exchanges.
Brij Kishore Sharma of M/s. B K Sharma and Associates, Practicing Company Secretaries, served as the scrutinizer for the remote e-voting and e-voting processes conducted through the Central Depository Services (India) Limited (CDSL) portal. The remote e-voting period commenced on June 25, 2026, and concluded on June 28, 2026. A total of 99 members participated via video conferencing, including 14 from the promoter group and 85 public shareholders.
The statutory auditors, R. Kabra & Co. LLP and O.P. Dad & Co., attended the meeting alongside the Company Secretary and the Chief Financial Officer. The proceedings confirmed there were no qualifications, reservations, or adverse remarks in the Statutory and Secretarial Audit Reports for the financial year 2025-26. Shri Anurag Soni, Managing Director, chaired the meeting after the Chairman conveyed his inability to attend due to unavoidable circumstances.
Resolutions Passed at the 40th AGM
| Sr. No. | Particulars of Resolutions | Type of Resolution | Votes Favour | Votes Against | % Favour |
|---|---|---|---|---|---|
| 1. | Adoption of audited financial statements (Standalone and Consolidated) for FY26 | Ordinary | 34668908 | 3 | 100% |
| 2. | Declaration of Dividend of ₹2 per equity share for FY26 | Ordinary | 34668908 | 3 | 100% |
| 3. | Re-appointment of Mr. R.P. Soni (DIN: 00401439) as Director | Ordinary | 34651548 | 17363 | 99.95% |
| 4. | Authorisation to borrow money not exceeding ₹3000 crore under Section 180(1)(c) | Special | 34651548 | 17363 | 99.95% |
| 5. | Authorisation for Creation of Security on increased Borrowing Power under Section 180(1)(a) | Special | 34651548 | 17363 | 99.95% |
| 6. | Ratification of the Remuneration of the Cost Auditors for FY27 | Ordinary | 34668908 | 3 | 100% |
The scrutinizer's report noted that the electronic data and records relating to the voting process will remain in safe custody until the Chairman approves and signs the Minutes of the 40th AGM. The voting results have been hosted on the company's website and the CDSL e-voting portal.
Historical Stock Returns for Sangam
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +2.03% | +3.28% | +6.91% | +18.66% | +21.31% | +353.10% |
What specific capital projects or acquisitions does Sangam (India) Limited plan to fund with the authorized ₹3000 crore borrowing power?
How will the new borrowing capacity impact the company's leverage ratios and interest coverage metrics in the upcoming fiscal year?
Is the ₹2 per share dividend sustainable given the potential increase in debt servicing costs associated with the expanded borrowing limits?
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