Smartworks Coworking Spaces 11th AGM: all 8 resolutions passed
- Smartworks Coworking Spaces held its 11th AGM on September 22, 2026 via video conferencing, with all 8 resolutions passed
- Total votes polled stood at 72,501,918, representing 63.3863% of 114,381,076 outstanding shares
- Promoter and promoter group voted 100% in favour across all resolutions; no invalid votes were reported
- Special resolutions included appointment of two independent directors, approval of consultancy services for Atul Gautam, enhancement of borrowing and investment limits, and a share capital reduction scheme
- Financial statements for FY26 received unqualified audit opinions from Deloitte Haskins & Sells LLP, with no adverse remarks from secretarial auditor SBYN & Associates LLP
*this image is generated using AI for illustrative purposes only.
Smartworks Coworking Spaces Limited held its 11th Annual General Meeting on September 22, 2026, passing all 8 resolutions with requisite majority, with total votes polled at 72,501,918 representing 63.39% of outstanding shares.
The meeting was conducted via Video Conferencing and Other Audio Visual Means in compliance with SEBI and MCA regulations, commencing at 3:34 pm and concluding at 4:40 pm. Chairman Atul Gautam led the proceedings. As on the record date of September 15, 2026, the total number of shareholders stood at 19,687. Remote e-voting was open from September 19, 2026 to September 21, 2026, facilitated by National Securities Depository Limited. The Company Secretary reported that the Independent Auditors' Report on both standalone and consolidated financial statements for the fiscal year ended March 31, 2026 did not contain any qualifications, and the Secretarial Audit Report issued by SBYN & Associates LLP raised no adverse comments.
Key attendees and procedures
| Role | Name / Firm |
|---|---|
| Chairman | Atul Gautam |
| Statutory Auditor | Deloitte Haskins & Sells LLP |
| Secretarial Auditor | SBYN & Associates LLP |
| Scrutinizer | Shirin Bhatt |
| Company Secretary & Compliance Officer | Punam Dargar |
Representatives from Deloitte Haskins & Sells LLP, the statutory auditors, and Shirin Bhatt, the appointed scrutinizer, participated virtually to oversee the voting process and audit disclosures. Key regulatory documents, including the Register of Directors, Register of Contracts, and the Certificate from the Secretarial Auditor on the Employee Stock Option Scheme 2022, were made available for inspection by members during the AGM.
Resolutions considered
The AGM considered 8 resolutions — 2 ordinary and 6 special. Items 1 and 2 were passed as ordinary resolutions with requisite majority, while Items 3 through 8 were passed as special resolutions with three-fourths majority of votes cast in favour.
| Item no. | Type | Description | Result |
|---|---|---|---|
| 1 | Ordinary | Adoption of audited standalone and consolidated financial statements for FY26 | Passed |
| 2 | Ordinary | Re-appointment of Atul Gautam as Non-Executive Director | Passed |
| 3 | Special | Appointment of Dilip Deshmukh as Non-Executive Independent Director | Passed |
| 4 | Special | Appointment of Rajeev Krishnamuralilal Agarwal as Non-Executive Independent Director | Passed |
| 5 | Special | Approval of consultancy/advisory services from Atul Gautam | Passed |
| 6 | Special | Enhancement of limits under Section 180(1)(a) of the Companies Act, 2013 | Passed |
| 7 | Special | Enhancement of limits under Section 186 of the Companies Act, 2013 | Passed |
| 8 | Special | Approval of scheme for reduction of share capital through utilisation of Securities Premium Account | Passed |
Consolidated voting results
The following table summarises the consolidated voting outcome across all 8 resolutions. Total shares held across all categories stood at 114,381,076.
| Item no. | Votes polled | % polled on outstanding shares | Votes in favour | Votes against | % in favour |
|---|---|---|---|---|---|
| 1 | 72,501,918 | 63.3863 | 72,501,906 | 12 | 100.0000 |
| 2 | 72,501,918 | 63.3863 | 72,501,823 | 95 | 99.9999 |
| 3 | 72,501,918 | 63.3863 | 72,501,787 | 131 | 99.9998 |
| 4 | 72,501,918 | 63.3863 | 72,501,787 | 131 | 99.9998 |
| 5 | 72,501,918 | 63.3863 | 72,500,123 | 1,795 | 99.9975 |
| 6 | 72,501,918 | 63.3863 | 72,500,206 | 1,712 | 99.9976 |
| 7 | 72,501,918 | 63.3863 | 72,501,906 | 12 | 100.0000 |
| 8 | 72,501,918 | 63.3863 | 72,501,787 | 131 | 99.9998 |
The promoter and promoter group, holding 66,643,155 shares, voted 100% in favour of all resolutions. Public institutional investors, holding 10,749,163 shares, polled 5,763,674 votes (53.62% of their holding) and voted entirely in favour on most resolutions, with minor dissent on Items 5 and 6. Public non-institutional shareholders, holding 36,988,758 shares, polled 95,089 votes (0.26% of their holding). No invalid votes were reported across any category for any resolution. The electronic register and all related documents are to remain in the scrutinizer's custody until the Chairman approves and signs the minutes of the AGM.
Historical Stock Returns for Smartworks Coworking Spaces
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.71% | -3.58% | -9.56% | +18.47% | -18.19% | +7.85% |
How will the approved reduction of share capital via Securities Premium Account impact Smartworks' future equity dilution and earnings per share metrics?
What specific expansion projects or debt repayments are intended to be funded by the enhanced borrowing limits under Section 186?
How do the newly appointed independent directors, Dilip Deshmukh and Rajeev Agarwal, plan to influence the company's governance strategy regarding the coworking sector's competitive landscape?
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