Shri Gang Industries and Allied Products Limited concluded its 37th Annual General Meeting on September 26, 2026, approving standalone audited financial statements for FY26. The meeting was conducted through video conferencing in compliance with regulatory norms.

Key resolutions passed

The shareholders transacted several critical items of business during the virtual assembly. The primary agenda items included the adoption of financial reports and governance changes.

Sanjay Kumar Jain, who retired by rotation, was re-appointed as a director following his eligibility confirmation. The company also sought shareholder approval to modify the objects of its preferential issue of fully convertible warrants, a move aligned with the notice dated August 30, 2025.

Governance and attendance details

The meeting commenced at 3:30 pm and concluded at 4:11 pm, including a 15-minute window for electronic voting. A total of 47 members attended the session. CS Vijay Jain served as the scrutinizer to ensure the fairness and transparency of the e-voting process.

Kanishka Jain, Company Secretary and Compliance Officer, facilitated the proceedings. She informed attendees that remote e-voting facilities were available from September 23 to September 25, 2026. Members joining via video conferencing who had not previously voted were permitted to cast their votes during the live session.

Chairman's address on market trends

In his opening address, Chairman Sanjay Kumar Jain provided insights into the evolving landscape of the Indian alcoholic beverages market. He detailed how the company is aligning its operational strategies with current market developments. The statutory registers and relevant documents referenced in the AGM notice remained available for electronic inspection throughout the duration of the meeting.

Voting results are scheduled to be declared within two working days of the conclusion of the AGM. These results, along with the consolidated scrutinizer's report, will be submitted to the stock exchanges and published on the company's website.

Shri Gang Industries and Allied Products Limited has scheduled its 37th Annual General Meeting (AGM) for September 26, 2026. The meeting will address a proposed alteration in the utilization of funds from a previous Fully Convertible Warrants (FCW) issue and an increase in the Chief Operating Officer's remuneration.

The Board of Directors also decided to defer its planned increase in authorized share capital and potential equity issuance, originally notified on August 26, 2026. These matters will be placed before the board at a subsequent meeting.

Deferred Capital Raise

The board deferred two key agenda items from the August 31, 2026 meeting:

• Increasing the authorized share capital and altering the Memorandum of Association.
• Issuing equity shares or convertible securities via preferential issue, rights issue, or Qualified Institutional Placement (QIP).

FCW Object Alteration

The primary special business item is the modification of fund utilization for the Preferential Issue of up to 7,50,000 FCWs, aggregating to ₹7.43 crore. As of August 31, 2026, ₹2.86 crore has been utilized, leaving a balance of ₹4.57 crore.

The company proposes to shift the entire unutilized balance towards working capital, citing completed capital expenditure requirements. Originally, ₹3.19 crore was earmarked for capital expenditure, but only ₹0.27 crore was spent from issue proceeds. An additional ₹0.47 crore was spent on hardware for a barcoding facility at the Sandila plant from other sources.

The revised allocation directs ₹7.16 crore total towards working capital and retains ₹0.27 crore for capital expenditure already incurred. This requires shareholder approval via a Special Resolution.

Management Remuneration Change

Shareholders will also vote on increasing the remuneration of Mr. Varun Gupta, Chief Operating Officer and son of promoters. The proposal seeks approval for a maximum monthly remuneration of ₹10 lakh, effective October 1, 2026. This includes house rent allowance or leased accommodation up to ₹2.5 lakh per month. Perquisites include a chauffeur-driven car and reimbursement for telephone, internet, and travel expenses.

Mr. Gupta, appointed in May 2023, oversees operations including a liquor unit and a bottling partnership with United Spirits Limited. The increase is subject to shareholder approval as it exceeds the threshold under Section 188(1)(f) of the Companies Act, 2013.

Director Re-appointment

Mr. Sanjay Kumar Jain (DIN: 01014176), a Non-Executive Non-Independent Director, retires by rotation and offers himself for re-appointment. He holds no shares in the company and does not seek remuneration. He serves on the boards of several other entities, including Tinna Rubber and Infrastructure Limited and Diensten Tech Limited.

37th Annual General Meeting Details

The 37th AGM will be held on Saturday, September 26, 2026, at 3:30 pm through Video Conferencing or Other Audio-Visual Means (OAVM). The cut-off date for determining voting rights is September 19, 2026.

Remote e-voting will be available from 10:00 am on Wednesday, September 23, 2026, until 5:00 pm on Friday, September 25, 2026. Members who have cast remote votes may attend the meeting but cannot vote again. CS Vijay Jain has been appointed as the scrutinizer.