Shree Renuka Sugars Limited has secured shareholder approval to enter into a marketing arrangement with AWL Agri Business Limited for the sale, marketing, and distribution of sugar manufactured by the Company under the 'Madhur' brand. The resolution was passed through a remote e-voting process, with 99.89% of the valid votes cast in favour of the proposal. This strategic partnership aims to leverage external expertise for the distribution of the Company's sugar products.

The postal ballot voting process commenced on May 30, 2026, at 9:00 A.M. IST and concluded on June 28, 2026, at 5:00 P.M. IST. A total of 1,213 members participated, representing 138,77,95,447 equity shares. The scrutiny of the votes was conducted by Tehseen Fatima Khatri, Proprietor of M/s. T. F. Khatri & Associates, Practicing Company Secretaries, who was appointed as the Scrutinizer for the process.

The detailed voting results indicate strong support across institutional and non-institutional public shareholders. Promoters and the Promoter Group did not participate in the voting. The resolution required an ordinary majority and was successfully passed with the requisite approval.

Voting Results Summary

Scrutinizer's Report Details

The Scrutinizer's report confirms that the Ordinary Resolution was passed on June 28, 2026. KFin Technologies Limited acted as the Registrar and Share Transfer Agent and provided the remote e-voting facility. The Postal Ballot Notice was dispatched electronically on May 29, 2026, in compliance with the Ministry of Corporate Affairs circulars, which mandated electronic communication only.

The results of the postal ballot have been submitted to BSE Limited and the National Stock Exchange of India Limited. The voting results and the Scrutinizer's report are available on the Company's website and the e-voting portal managed by KFin Technologies Limited.

Shree Renuka Sugars Limited has commenced the remote e-voting process for a material related party transaction with AWL Agri Business Limited. The proposed marketing arrangement involves the sale, marketing, and distribution of sugar manufactured by the company under the Madhur brand. The aggregate estimated transaction value over the five-year term is ₹3,072.1 Crores.

The transaction requires shareholder approval as it exceeds the materiality threshold defined under Regulation 23 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company's annual consolidated turnover for FY 2025-26 was ₹9,168.90 Crores, rendering the proposed deal material. The arrangement is set to commence on July 1, 2026, for a duration of five years.

Under the terms of the agreement, Shree Renuka Sugars will supply at least 100,000 metric tonnes of Madhur Sugar per annum to AWL. The company will retain ownership of the Madhur trademark and related intellectual property, while AWL will have rights to use the brand for marketing and distribution. AWL will pay royalty to Shree Renuka Sugars at 1% of sales of sugar manufactured and sold by the company, and 0.5% on sales of sugar sourced by AWL from third parties.

The schedule for the postal ballot e-voting has been finalized. The remote e-voting period begins on May 30, 2026, at 9:00 a.m. IST and concludes on June 28, 2026, at 5:00 p.m. IST. The results of the postal ballot are expected to be declared on or before June 30, 2026. The cut-off date for determining shareholder eligibility is May 27, 2026.

Key Transaction Details

The Audit Committee of the Board reviewed the proposal and noted that the transaction is on an arm's length basis and in the ordinary course of business. The Board, at its meeting held on May 19, 2026, recommended the ordinary resolution for shareholder approval. CS Tehseen Fatima Khatri of M/s. T. F. Khatri & Associates has been appointed as the Scrutinizer to monitor the e-voting process.