Sheela Foam Limited held its 54th Annual General Meeting (AGM) on July 16, 2026, through video conference, where shareholders approved a final dividend of Re. 1 per equity share for the financial year ended March 31, 2026. The meeting also saw the reappointment of M S K A & Associates LLP as statutory auditors for a second term of five years. All 13 resolutions proposed in the notice were passed with an overwhelming majority, securing the company's leadership and financial oversight for the coming terms.

The e-voting process, conducted from July 13 to July 15, 2026, along with voting during the meeting, saw strong participation. Promoter and promoter group entities cast 100% of their votes in favour of all resolutions. Public institutions and non-institutional shareholders also supported the key proposals, including the adoption of financial statements and the reappointment of directors.

Ordinary Business

In addition to the dividend declaration, the AGM approved the adoption of the audited standalone and consolidated financial statements for FY26. Ms. Namita Gautam was reappointed as a director, having retired by rotation. The reappointment of M S K A & Associates LLP as statutory auditors was also approved, ensuring continuity in the company's audit processes.

Special Business

Shareholders approved the appointment of four Non-Executive Independent Directors: Mr. Neeraj Jain, Ms. Hiroo Mirchandani, Mr. Rajiv Srivastava, and Mr. Sudhir Ganpathy Shenoy. Furthermore, the reappointment of key executive directors—Mr. Rahul Gautam as Chairman and Managing Director, Ms. Namita Gautam as Whole-Time Director, Mr. Tushaar Gautam as Vice Chairman and Joint Managing Director, and Mr. Rakesh Chahar as Deputy Managing Director—was approved. The remuneration payable to the Cost Auditor for FY27 also received shareholder approval.

Voting Summary

The scrutinizer's report confirmed that all resolutions received the requisite majority. The table below summarizes the voting outcomes for key resolutions:

Sheela Foam Limited has detailed the tax deduction at source (TDS) norms applicable to the final dividend of Re 1 per equity share recommended for the financial year 2025-26. The dividend, subject to shareholder approval at the 54th Annual General Meeting on July 16, 2026, will be paid to members recorded on the register of members as on the record date of July 9, 2026. The company specified that tax rates would vary based on the residential status of the shareholder and the documentation provided.

For resident individual shareholders, no tax will be deducted if the total dividend income during the Tax Year 2026-27 does not exceed ₹10,000. A withholding tax rate of 10% applies to residents with a valid PAN updated in the company's records, while those without a valid PAN or exemption will face a 20% deduction. Shareholders can avail of lower or nil deduction by submitting a valid lower tax withholding certificate or specific declarations such as Form 121.

Resident Shareholder TDS Rates

Non-resident shareholders are subject to a base rate of 20% plus applicable surcharge and cess, unless a beneficial tax treaty rate applies. Foreign Institutional Investors (FIIs) and Foreign Portfolio Investors (FPIs) must provide a Tax Residency Certificate for the period April 1, 2026, to March 31, 2027, and digital Form 41. Sovereign Wealth Funds and Pension funds notified under Schedule V to Section 11 of the Income Tax Act are eligible for NIL TDS upon submission of relevant notifications and self-declarations.

Shareholders must submit necessary documents, including Form 121, Tax Residency Certificates, and self-declarations, to the Registrar & Share Transfer Agent, MUFG Intime India Private Limited, on or before July 3, 2026. Any communication received after this date will not be considered for determining the appropriate withholding tax rate. The company reserves the right to reject incomplete documents and apply higher rates if PAN is invalid or Aadhaar is not linked as per Section 262 of the Income Tax Act.