Sunflag Iron & Steel Company approved a final dividend of ₹1 per equity share for the financial year ended March 31, 2026. The decision was taken during the company's 40th Annual General Meeting (AGM) held virtually on September 25, 2026.

The AGM also saw the adoption of the audited standalone and consolidated financial statements for FY26. Shareholders ratified the appointment of new directors and confirmed the remuneration of cost auditors for the upcoming fiscal year.

Key resolutions passed

The meeting transacted several items of business as outlined in the notice dated August 11, 2025. The key approvals included:

• Adoption of audited financial statements for FY26.
• Declaration of a final dividend of ₹1 per equity share (face value ₹10).
• Re-appointment of Ravi Bhushan Bhardwaj as director retiring by rotation.
• Appointment of Mukund Prabhakar Chaudhari as an independent director for a fixed term of 40 months.
• Re-appointment of Ramchandra Vasant Dalvi as technical director for three years effective August 14, 2026.
• Ratification of cost auditor remuneration for FY27.

Governance and compliance updates

The proceedings were conducted through video conferencing and other audio-visual means, in line with Ministry of Corporate Affairs guidelines permitting virtual AGMs. Voting results and the scrutinizer's report are available on the company's website and the National Securities Depository Limited platform.

Director appointments

The board strengthened its composition with the induction of Mukund Prabhakar Chaudhari as a non-executive independent director. His tenure is set for a first term of 40 months. Additionally, Ramchandra Vasant Dalvi continues in his role as technical director and key managerial personnel, with his re-appointment effective from August 14, 2026.

Voting outcomes

According to the consolidated scrutinizer's report, all six resolutions passed with overwhelming majority support. For the dividend declaration (Item No. 2), 99.99% of valid votes cast were in favour, with only 1,568 votes against out of 13.11 crore votes polled. Public institutions voted unanimously in favour of the dividend, while promoter group members also supported it fully.

In the re-appointment of director Ravi Bhushan Bhardwaj (Item No. 3), which required an ordinary resolution, 99.99% of votes were in favour. Notably, promoter group members abstained from voting on this specific item, casting 7.37 crore votes in favour out of their holding. The appointment of independent director Mukund Prabhakar Chaudhari (Item No. 4) and the re-appointment of technical director Ramchandra Vasant Dalvi (Item No. 5) both passed as special resolutions with 99.99% support.

Sunflag Iron & Steel Company has announced the cessation of Mr. Anand Sadashiv Kapre as Non-executive Independent Director effective September 20, 2026.

The departure follows the completion of his fixed second term of three consecutive years. The company disclosed the change pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Board Composition Update

Mr. Kapre (DIN: 00019530) ceased to hold office at the end of the day on September 20, 2026. The filing was signed by CS Ashutosh Mishra, Head Company Secretary & Compliance Officer, and submitted to both the BSE and NSE listing departments.

The disclosure includes details required under SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, relating to the cessation of directors. No new appointment details were provided in this specific filing.