Som Distilleries and Breweries Limited held its 33rd Annual General Meeting on September 29, 2026, through video conferencing. The meeting focused on adopting the audited financial statements for FY26 and approving special business items, including a preferential issue of convertible equity warrants to promoters.

The proceedings were conducted in compliance with MCA and SEBI circulars permitting virtual meetings. 53 members attended the session, which commenced at 1:10 pm and concluded at 1:40 pm. Due to the virtual format, physical proxy appointments were not applicable, and voting was conducted via remote e-voting and e-voting during the meeting.

Meeting attendance and leadership

In the absence of the Chairman and Managing Director, Nakul Kam Sethi, Whole-time Director, was elected as the Chairman of the meeting with the consent of the majority of directors present. The board demonstrated strong independent oversight, with key committee heads present to address shareholder queries.

Other attendees included Jitendra Parihar (Company Secretary & Compliance Officer), Nitin Malviya (CFO), and representatives from statutory, internal, and secretarial audit firms. Neelesh Jain of M/s. N. K. Jain & Associates served as the scrutinizer for the voting process.

Resolutions passed

Shareholders considered and adopted the audited standalone and consolidated financial statements for the financial year ended March 31, 2026. The board’s report and auditors’ reports were also taken as read and approved.

Key ordinary and special business items included:

• Adoption of Audited Standalone Financial Statements for FY26.
• Adoption of Audited Consolidated Financial Statements for FY26.
• Reappointment of Rajat Batra as a director retiring by rotation.
• Approval of the issue of convertible equity warrants to promoters on a preferential basis.

No specific queries were raised by shareholders during the live session, though the chairman addressed points raised by registered speakers prior to the formal conclusion. The final voting results, combining remote e-votes and live e-votes, will be submitted separately along with the scrutinizer’s report.

Som Distilleries & Breweries Limited secured a favorable judgment from the Hon'ble High Court of Madhya Pradesh, which quashed the order rejecting the company's applications for excise licence renewal. The court directed the renewal of all manufacturing licences under the Madhya Pradesh Excise Act within 15 days from the order date, facilitating the resumption of operations at its Bhopal plant.

The judgment, dated September 24, 2026, overturned the earlier order dated June 18, 2026, which had rejected the renewal applications. This legal victory allows the company to restart sales generation in Madhya Pradesh, a core market for its products. The company received the judgment on September 25, 2026.

Judgment details and financial implications

The Hon'ble Court not only mandated the licence renewal but also awarded costs of ₹1 lakh payable by the Government of Madhya Pradesh to the company. Furthermore, the court preserved the company's right to pursue damages or losses arising from the period of operational closure before an appropriate forum. The company stated that this outcome vindicates its stand regarding corporate governance and lawful conduct during the dispute.

Operational impact and next steps

The renewal of these licences is described as an important step towards restoring normal operations at the Bhopal facility and strengthening the company's ability to serve its markets. The company indicated that the order is expected to have a positive impact on its financial position by enabling the resumption of sales from Madhya Pradesh.

Management outlined a focus on several key areas following the judgment:

• Restoration and normalization of operations
• Efficient utilization of manufacturing capacities
• Strengthening product portfolio and distribution networks
• Improving working capital efficiency
• Serving consumers and business partners across markets

The company will work closely with relevant authorities to complete the renewal process within the timeframe directed by the court. No specific financial figures regarding the extent of losses during the closure period were disclosed in the filing, though the preservation of rights for damages suggests potential future recoveries.