Surat Trade & Mercantile Limited passed all proposed resolutions at its 80th Annual General Meeting held on September 22, 2026, via Video Conferencing. The meeting concluded with the adoption of audited financial statements and the re-appointment of key directors.

The company submitted the scrutinizer's consolidated report to BSE on September 23, 2026. The voting process utilized remote e-voting and Insta-poll facilities provided by KFin Technologies Limited. The remote e-voting period ran from September 19 to September 21, 2026.

Resolution outcomes

The shareholders voted on three ordinary resolutions. The adoption of financial statements received near-unanimous support. The re-appointment of directors also saw high approval rates, though a significant portion of votes were abstained in one instance.

What the numbers show

A distinct divergence appears in shareholder engagement across the resolutions. While Item No. 1 and Item No. 3 saw negligible abstentions (100 votes each), Item No. 2 regarding Alok P. Shah's appointment recorded 89,382,090 abstained or invalid votes. This figure represents a substantial portion of the total voting power compared to the other items, despite the resolution passing with requisite majority. The votes in favor for Item No. 2 stood at 62,879,023, indicating that a large block of shareholders chose not to cast an affirmative or negative vote on this specific director appointment.

Procedural details

The meeting was conducted under Section 108 of the Companies Act, 2013, and Rule 20 of the Companies (Management and Administration) Rules, 2014. Jigar Vyas of Jigar Vyas & Associates served as the scrutinizer. The notice for the AGM was issued on August 12, 2026, and sent electronically to registered shareholders.

Surat Trade & Mercantile has confirmed KFIN Technologies Limited as its Registrar and Share Transfer Agent for the upcoming 80th Annual General Meeting. The company also appointed Mr. Jigar Vyas of M/s. Jigar Vyas & Associates as the scrutinizer for the e-voting process.

The 80th AGM is scheduled for Tuesday, September 22, 2026, at 3:30 pm via Video Conferencing or Other Audio-Visual Means. Remote e-voting will commence at 9:00 am on Saturday, September 19, 2026, and conclude at 5:00 pm on Monday, September 21, 2026. The cut-off date for voting eligibility remains Tuesday, September 15, 2026.

Board Re-appointments

Shareholders will consider the re-appointment of Mr. Alok P. Shah as a director liable to retire by rotation. Mr. Shah, who serves as Managing Director, holds an MBA from the University of Chicago and a degree in Electrical Engineering from Stanford University.

The meeting will also seek approval for the re-appointment of Mr. Deepak N. Shah as an Independent Director for a second term of five years. His tenure is set to run from August 11, 2027, to August 10, 2032.

Mr. Deepak N. Shah is a Fellow Member of the Institute of Chartered Accountants of India with over four decades of experience in statutory and tax audits. The Nomination and Remuneration Committee recommended his re-appointment based on performance evaluation and independence criteria.

Annual Report Access & KYC Reminder

Pursuant to Regulation 36(1)(b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company provided a web link for the Annual Report for FY25-26 to shareholders who have not registered their email addresses. The report is available at www.stml.in under Investor Relations > Annual Report > Annual Report 2025-2026.

The company reminded physical security holders to update their KYC details, including PAN, address, mobile number, bank account details, specimen signature, and choice of nomination, in compliance with SEBI Master Circular No. SEBI/HO/MIRSD/POD-1/P/CIR/2024/37 dated May 07, 2024. Failure to update these details may restrict dividend payments to electronic mode only.

Forms for nomination and KYC updation (ISR-1, ISR-2, ISR-3, SH-13, SH-14) are available on the RTA website. Shareholders are encouraged to dematerialise physical securities and register email IDs to avail online services.

Meeting Logistics

Institutional shareholders must submit certified copies of board resolutions authorizing their representatives to attend via email. Physical attendance has been dispensed with in compliance with Ministry of Corporate Affairs circulars. Proxy forms are not available for this meeting. Members can join the VC session 15 minutes before the scheduled start time.

Speaker registration for the Q&A session opens on Friday, August 28, 2026, and closes on Monday, August 31, 2026. Questions submitted during this window will be addressed during the meeting proceedings.