Sayaji Industries Limited conducted its 85th Annual General Meeting on September 21, 2026, through video conferencing. Shareholders adopted the audited financial statements for the year ended March 31, 2026, and ratified the appointment of cost auditors. All four resolutions proposed at the meeting were passed with 100% of the votes cast in favour.

The meeting was chaired by Varun Priyambhai Mehta, CEO and Executive Director, following the absence of Managing Director Priyam B. Mehta. Statutory auditors Shah and Shah Associates and secretarial auditor Amrish Gandhi and Associates were present.

Business Transacted

The resolutions passed during the meeting included the adoption of the standalone and consolidated financial results for FY26. The reports of the statutory auditors on these results were unqualified without adverse remarks. Shareholders reappointed Varun P. Mehta as Director, who retires by rotation. They also approved his remuneration as Executive Director for the tenure from April 1, 2027, to March 31, 2029. Additionally, the remuneration payable to M/s Dalwadi and Associates, Cost Accountants, for the financial year 2026-27 was ratified.

Voting Results Summary

The scrutinizer’s report submitted on September 22, 2026, confirmed that no votes were cast against any of the resolutions. For the adoption of financial statements and ratification of cost auditor remuneration, promoter group members voted in large numbers via remote e-voting. For the reappointment of Varun P. Mehta and approval of his remuneration, promoter group members abstained from voting as they are interested parties, resulting in lower total votes polled but maintaining a 100% favourable ratio among those who voted.

Key Attendees

Mr. Vishnu H Thaker, Company Secretary and Compliance Officer, and Mr. Niravkumar C Mistry, Chief Financial Officer, represented the key management personnel.

Sayaji Industries returned to profitability in FY26 with a net profit of ₹228.51 lakh, reversing losses recorded in the prior two fiscal years. The company will hold its 85th Annual General Meeting on Monday, September 21, 2026, to adopt these results.

The meeting will commence at 3:30 pm via Video Conferencing or Other Audio-Visual Means (OAVM). Shareholders holding shares as on the cut-off date of September 11, 2026, are eligible to participate and vote.

Financial Performance

The company reported a net profit of ₹228.51 lakh for FY26, a significant improvement from the net loss of ₹1,146.52 lakh in FY25 and ₹1,131.89 lakh in FY24. Gross total income rose to ₹1,01,604.26 lakh in FY26, up from ₹99,448.67 lakh in FY25 and ₹94,386.18 lakh in FY24. No equity dividend was declared for any of the three fiscal years.

The return to profit follows operational improvements including increased grinding activity, installation of new automated equipment, and a focus on value-added products such as dextrose and sorbitol. Previously, high maize prices driven by government ethanol policies had pressured input costs.

Meeting Agenda

Shareholders will transact ordinary business, including the adoption of audited balance sheets as at March 31, 2026, and the reappointment of Mr. Varun P. Mehta (DIN: 00900734) as a director retiring by rotation.

Special business includes approving remuneration of ₹1,20,000 plus GST and out-of-pocket expenses for M/s Dalwadi and Associates as cost auditors for FY27. Additionally, shareholders will vote on a special resolution to extend Mr. Mehta’s tenure as Executive Director until March 31, 2029, with a salary cap of ₹20,00,000 per month plus perquisites.

Key Dates and Voting Process

The Board approved the Notice and Board Reports in a meeting held on Friday, August 7, 2026. The notice was sent to shareholders on Wednesday, August 26, 2026.

Remote e-voting will be available from 9 am on Friday, September 18, 2026, to 5 pm on Sunday, September 20, 2026, via KFin Technologies Limited. Shareholders may submit questions or queries during this same window. Speaker registration for the AGM is also open from 9 am on September 18 to 5 pm on September 20.

Meeting Logistics

The electronic copy of the AGM notice and the Annual Report for FY26 will be dispatched to members who have registered email addresses. For those without registered emails, KFin Technologies Limited will send a letter containing the web link and path to access the documents. The reports are also available on the company's website.

Members are advised to update their contact details with their Depository Participants or via Form ISR-1 with KFin Technologies Limited to ensure seamless communication and dividend receipt.