Shyam Metalics & Energy Limited concluded its 24th annual general meeting on August 25, 2026, where shareholders approved a final dividend of ₹2.70 per equity share for FY26.

The company also sought shareholder approval for a special resolution to consider and seek fresh approval of funds amounting to ₹4,500 crore. The meeting was conducted through video conferencing in compliance with SEBI regulations.

Key Resolutions Passed

The following ordinary resolutions were approved by the shareholders:

• Adoption of audited standalone and consolidated financial statements for the financial year ended March 31, 2026.
• Confirmation of the interim dividend of ₹1.80 per share (18%) paid on July 22, 2025.
• Declaration of the final dividend of ₹2.70 per share (27%) for FY26.
• Re-appointment of Mr. Sheetij Agarwal as a director, who retires by rotation.
• Ratification of remuneration payable to the Cost Auditor for FY27.

Strategic Outlook

Chairman and Managing Director Brij Bhushan Agarwal addressed the shareholders, outlining the company’s transition from "Ore to Metal" to "Metal to Value." He highlighted aspirations for the topline and EBITDA to scale to nearly one-and-a-half times their current levels in the coming years. This growth strategy focuses on differentiated products, employee opportunities, and sustainable community development.

The meeting included participation from statutory auditors MSKA & Associates LLP and secretarial auditors MKB & Associates. Remote e-voting was open from August 21 to August 24, 2026, with an additional e-voting window during the meeting.

Shyam Metalics and Energy Limited issued a corrigendum on August 7, 2026, correcting a typographical error in the Notice of its 24th Annual General Meeting (AGM). The company clarified that the correct Record Date for the purpose of the final dividend is Friday, 7th August, 2026 — not Tuesday, 18th August, 2026, as was inadvertently mentioned in the AGM Notice forming part of the Annual Report for FY 2025-26. The company noted that the correct record date of August 7, 2026 was already reflecting on the Exchange Portals, having been timely disseminated after the Board Meeting. The corrigendum was signed by Company Secretary Birendra Kumar Jain and a corrected version of the Annual Report has been made available on the company's website.

24th AGM: Key Details

The 24th AGM remains scheduled via Video Conference / Other Audio Visual Means (VC/OAVM) on Tuesday, August 25, 2026, at 3:00 PM IST. The AGM Notice was originally published in newspapers on Tuesday, August 4, 2026. The Annual Report for FY26 was dispatched electronically on Monday, August 3, 2026, to shareholders registered as of Friday, July 24, 2026. The following table summarises the key AGM schedule parameters:

Fundraising Mandate and Capital Raise

A key agenda item at the AGM is shareholder approval for a fundraising mandate of up to ₹4,500 crore for organic and inorganic growth. The Board seeks authority under Sections 42 and 62 of the Companies Act, 2013, to issue equity shares, convertible debentures, or warrants through Qualified Institutional Placements (QIPs), private placements, or rights issues. Proceeds will fund capital expenditure, debt repayment, and general corporate purposes. The following table outlines the key terms of the proposed fundraise:

Dividend and TDS

The Board has recommended a final dividend of ₹2.70 per equity share of ₹10 face value, representing a 27% payout for FY26. An interim dividend of ₹1.80 per equity share was declared on July 22, 2025, and paid on August 2, 2025. The final dividend, once approved at the AGM, will be paid electronically within 30 days. Under the Income Tax Act, 2025 (effective April 1, 2026), dividend income is taxable in the hands of shareholders. Shareholders must submit requisite documents to the company or its RTA, KFin Technologies Limited, by August 7, 2026 to ensure correct TDS application. Failure to provide a valid PAN may result in TDS at 20% under Section 397 of the Income Tax Act.

Governance and Compliance

Mr. Sheetij Agarwal, a promoter and third-generation entrepreneur overseeing strategy and business development, is up for re-appointment as Whole-time Director with an annual remuneration of ₹2.40 crore. Mr. Raj Kumar Banthia (Membership No. ACS 17190) of MKB & Associates has been appointed Scrutinizer to oversee the e-voting process. The company also seeks ratification of Cost Auditor remuneration of ₹55,000 plus taxes for M/s. BSS & Associates for FY27. Remote e-voting is facilitated via NSDL; only shareholders on the Register of Members as of the cut-off date of Tuesday, August 18, 2026, are eligible to vote.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE810G01011/c253a340-3fc8-4015-844a-a54b86334c27.pdf