Semac Construction passes all six resolutions at 49th AGM
- All six resolutions passed at Semac Construction's 49th AGM held September 25, 2026
- Financial statements and director re-appointments approved with over 99% support
- Material related party transactions with REIL and RCSL approved with 78.71% support
- Promoter shareholders holding 18,43,942 shares abstained from voting on RPT resolutions
*this image is generated using AI for illustrative purposes only.
Semac Construction Limited passed all six resolutions put forth at its 49th Annual General Meeting held on September 25, 2026. The meeting, conducted via video conferencing, covered financial statement adoption and key governance matters.
Voting outcomes on ordinary business
Shareholders approved the adoption of standalone and consolidated financial statements for the financial year ended March 31, 2026. The resolution received 18,77,574 votes in favor, representing 99.60% of valid votes cast. Only 7,449 votes were cast against the resolution.
The re-appointment of Harivansh Dalmia as a Director on retirement by rotation was also approved. This ordinary resolution secured 18,76,279 votes in favor (99.54%) against 8,744 dissenting votes (0.46%).
Special resolutions and remuneration
Two special resolutions were passed with requisite majority. The re-appointment and remuneration of Harivansh Dalmia as Whole Time Director received 18,76,079 votes in favor (99.53%). Additionally, shareholders approved the waiver of recovery of an excess sum refundable under Section 197 of the Companies Act, 2013, paid to Dalmia for FY26. This waiver received 18,77,574 votes in favor (99.60%).
Related party transactions
The meeting addressed material related party transactions with Revathi Equipment India Limited (REIL) and Renaissance Consultancy Services Limited (RCSL). Both resolutions were passed as ordinary resolutions but saw a higher proportion of dissent compared to other items.
| Resolution Item | Votes For | % For | Votes Against | % Against |
|---|---|---|---|---|
| Adoption of Financial Statements | 18,77,574 | 99.60% | 7,449 | 0.40% |
| Re-appointment of Director | 18,76,279 | 99.54% | 8,744 | 0.46% |
| WTD Re-appointment & Remuneration | 18,76,079 | 99.53% | 8,944 | 0.47% |
| Waiver of Excess Sum Refundable | 18,77,574 | 99.60% | 7,449 | 0.40% |
| Material RPT with REIL | 32,337 | 78.71% | 8,744 | 21.29% |
| Material RPT with RCSL | 32,337 | 78.71% | 8,744 | 21.29% |
What the numbers show
A distinct divergence appears in shareholder sentiment regarding related party transactions versus general corporate governance matters. While standard resolutions like financial statement adoption garnered over 99% support, the approvals for material related party transactions with REIL and RCSL received only 78.71% support from eligible voters. Notably, two shareholders identified as related parties or promoters, holding 18,43,942 equity shares, abstained from voting on these specific RPT resolutions, as mandated by regulatory norms. The dissenting votes for these RPTs remained consistent at 8,744 shares, identical to the dissent count for the director re-appointment, suggesting a stable block of minority shareholders opposed to these specific transactions.
Historical Stock Returns for Semac Construction
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -4.99% | -5.56% | -13.09% | -0.27% | -48.11% | -38.07% |
How will the 21.29% dissent on related party transactions with REIL and RCSL influence Semac Construction's future capital allocation strategy?
What specific governance reforms might minority shareholders demand following the significant abstention by promoters on RPT resolutions?
Could the waiver of excess remuneration under Section 197 trigger regulatory scrutiny from SEBI or the Ministry of Corporate Affairs in upcoming audits?
15
Access Market Heat-map & Insights 
Create, Save & Share your Screener 
Use 200+ Screening Filters 
