Stylam Industries shareholders approved a significant board reshuffle and managerial remuneration increases at the company’s 35th annual general meeting held on August 28, 2026.

The meeting, chaired by Non-Executive Independent Director Sunil Kumar Sood, concluded in 16 minutes via video conferencing. All 15 agenda items were transacted through e-voting, with no resolutions requiring proposing or seconding during the session as remote voting had already taken place.

Key Governance Changes

The most notable outcome was the appointment of five new Non-Executive Directors, signaling a potential expansion of international oversight or strategic partnerships. The newly appointed directors are:

• Naruhiko Amada (appointed as Whole-time Director)
• Kenji Ebihara
• Nobuyuki Omura
• Yuji Iwatsuka
• Koshi Suzuki
• Makoto Tanaka
• Adisak Thiaphairat

Additionally, Tirloki Nath Singla was appointed as a Non-Executive Independent Director. The company also approved the reappointment of Manit Gupta as Whole-time Director, who retires by rotation.

Remuneration Approvals

Shareholders approved special resolutions to increase the managerial remuneration of two key executives:

1. Jagdish Gupta, Managing Director
2. Manit Gupta, Whole-time Director

A separate special resolution allowed Jagdish Gupta to continue as Managing Director upon attaining the age of 70 years, ensuring continuity in leadership.

Financial Statements Adopted

The AGM formally adopted the audited standalone and consolidated financial statements for the fiscal year ended March 31, 2026. The independent auditor’s report and secretarial audit report contained no qualifications, adverse comments, or observations.

Meeting Details

Forty-four members joined the virtual meeting. The Company Secretary confirmed that all feasible steps were taken to ensure member participation in compliance with Ministry of Corporate Affairs circulars. Results of the e-voting were declared subject to the Scrutinizer’s report, which was to be uploaded within two working days.

Stylam Industries Limited has confirmed the schedule for its 35th Annual General Meeting (AGM), set for Friday, August 28, 2026, at 11:30 A.M. (IST). The meeting will be conducted via Video Conferencing/Other Audio Visual Means (VC/OAVM). Shareholders seeking to participate remotely must cast their votes during the designated e-voting window, which opens on Tuesday, August 5, 2026, at 09:00 A.M. and closes on Thursday, August 7, 2026, at 05:00 P.M. This procedural update follows the company’s filing of its FY26 Annual Report, which highlighted a revenue surge to ₹1,129 crore and a PAT increase to ₹150 crore.

The AGM agenda includes critical governance matters stemming from recent ownership changes. Key special business items involve the appointment of new directors nominated by AICA Kogyo Company Limited, following its successful open offer completion in May 2026. Additionally, shareholders will vote on the revision of managerial remuneration for Managing Director Jagdish Gupta and Whole-time Director Manit Gupta to ₹420.00 Lakhs per annum each. The meeting will also address the continuation of Jagdish Gupta as Managing Director upon attaining the age of 70 years and the re-appointment of Manit Gupta for a further five-year term starting January 28, 2027.

Financial Context and Operational Milestones

The AGM occurs against a backdrop of strong financial performance in FY26. Standalone revenue from operations grew 10% year-on-year to ₹1,129 crore, while EBITDA expanded to ₹221 crore with margins improving from 18% to 20%. Profit after tax rose to ₹150 crore from ₹122 crore in the previous year. Exports remained a primary growth driver, contributing 73.60% of total turnover with an FOB value of ₹803 crore.

Operationally, the company achieved record laminate production volumes and launched new products including Anti-Mar and Magnetic Laminates. The commissioning of the greenfield facility at Manak Tabra, Panchkula, with an investment of approximately ₹334 crore, marks a significant capacity expansion step.

Governance and Shareholder Actions

The Board has undergone significant reconstitution, with multiple nominees from AICA Kogyo joining as Non-Executive Directors. Dhiraj Kheriwal, Company Secretary & Compliance Officer, issued the notice pursuant to Regulation 30 and 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The newspaper advertisement detailing the AGM and e-voting process was published in Financial Express on August 5, 2026. Shareholders are advised to ensure their electronic voting preferences are registered before the deadline to influence key strategic decisions regarding leadership continuity and compensation.