Sharda Motor shareholders adopt FY26 financials at 41st AGM

Sharda Motor Industries Limited held its 41st Annual General Meeting on September 24, 2026. The meeting, conducted via video conferencing, saw shareholders adopt the audited standalone and consolidated financial statements for the financial year ended March 31, 2026.

The Board of Directors reported strong growth for FY26, driven by resilient domestic automotive demand and expansion in the lightweighting business. The company also highlighted growth in exports and the strengthening of its emissions systems segment. Strategic initiatives, including a technology partnership with Donghee Industrial Company Limited of South Korea, were cited as key contributors to performance.

Resolutions passed

Shareholders approved several ordinary and special business items during the meeting. The final dividend for FY26 was declared, and Kishan N Parikh was re-appointed as Director, retiring by rotation. Additionally, Ajay Relan was re-appointed as Whole Time Director, designated as Executive Chairperson.

The meeting also approved remuneration payments to Ajay Relan exceeding threshold limits under SEBI regulations and commission payments to Navin Paul, Non-Executive Independent Director. The remuneration for Gurdeep Singh & Associates, Cost Auditors, was ratified.

Voting results and scrutiny

The company has submitted the consolidated scrutinizer's report and voting results to stock exchanges on September 25, 2026. The remote e-voting period ran from September 21 to September 23, 2026, via CDSL. Vineet K Chaudhary of VKC & Associates served as the Scrutinizer.

All eight resolutions were passed with requisite majorities. Key voting outcomes include:

Resolution	Type	Votes in Favour (%)	Votes Against (%)
Adopt standalone financials	Ordinary	100.00	0.00
Adopt consolidated financials	Ordinary	100.00	0.00
Declare final dividend FY26	Ordinary	100.00	0.00
Re-appoint Kishan N Parikh	Ordinary	99.53	0.47
Re-appoint Ajay Relan (Exec Chair)	Ordinary	95.86	4.14
Approve Ajay Relan remuneration	Special	95.80	4.20
Approve Navin Paul commission	Special	99.57	0.43
Ratify cost auditor remuneration	Ordinary	100.00	0.00

The re-appointment of Ajay Relan and the approval of his remuneration saw the highest dissent among public shareholders, with approximately 4% of votes cast against these items. Institutional holders accounted for the majority of votes against these specific resolutions.

Meeting proceedings

The AGM commenced at 12:00 noon and concluded at 12:56 pm. Nitin Vishnoi, Executive Director and Company Secretary, managed the proceedings. Key directors present included Ajay Relan, Kishan N Parikh, Udayan Banerjee, and Navin Paul. Dr. Sarita Duper, Independent Director, could not attend.

Voting was conducted through remote e-voting via CDSL from September 21 to September 23, 2026, and live e-voting during the meeting. The combined voting results have been declared and submitted to stock exchanges.