Swasti Vinayaka Synthetics Limited concluded its 44th Annual General Meeting (AGM) on September 29, 2026, with all six proposed resolutions passing with overwhelming shareholder support. The company has now submitted the consolidated voting results and the scrutinizer's report to stock exchanges, confirming that no resolution faced significant dissent.

The meeting commenced at 12:05 pm IST via video conferencing, adhering to Ministry of Corporate Affairs guidelines. Rajesh Ramprasad Poddar, Chairman, presided over the initial proceedings before handing over conduct to Aryan Poddar. The agenda included the adoption of audited financial statements for FY26 and various governance-related appointments.

Key resolutions passed

The shareholders approved several ordinary and special resolutions concerning board composition and statutory audits. Aryan Poddar was reappointed as a director retiring by rotation and as Whole Time Director through a special resolution. Additionally, Yash Rungta was appointed as an Independent Director for a specified term.

Governance and audit updates

The company appointed M/s Sandeep Dar & Co. as its new Secretarial Auditor. This appointment follows standard corporate governance practices to ensure compliance with regulatory requirements. The meeting also addressed material related party transactions, which received shareholder approval under ordinary resolution.

Sandeep Dar, a practicing company secretary from Navi Mumbai, served as the scrutinizer for the voting process. He ensured that both remote e-voting and e-voting conducted during the AGM were carried out in a fair and transparent manner. The consolidated voting results, along with the scrutinizer's report, were submitted to stock exchanges on September 29, 2026.

Voting and attendance details

Members who had not participated in remote e-voting were granted a 30-minute window post-meeting conclusion to cast their votes electronically. The meeting officially ended at 12:20 pm IST, after which the additional voting period remained open. No specific queries from registered speakers were detailed in the summary, though the chairman acknowledged member participation.

What the Numbers Show

The voting data reveals a stark divergence between promoter and public shareholder participation. While promoters voted unanimously in favour of all applicable resolutions, public non-institutional investors showed slight dissent on specific governance items. For instance, on the approval of material related party transactions, 160 votes (0.37% of votes polled by public) were cast against, whereas for other resolutions like the appointment of the secretarial auditor, 760 votes (1.79% of votes polled by public) were cast against. Despite this, the overall support remained above 99.99% due to the high concentration of promoter-held shares voting in favour.

Swasti Vinayaka Synthetics has scheduled its 44th Annual General Meeting for Tuesday, September 29, 2026. The meeting will be held via Video Conferencing or Other Audio Visual Means to address key governance matters and financial statements for FY26.

Governance and Board Appointments

Shareholders will vote on the reappointment of Mr. Aryan Rajesh Poddar as a Whole-Time Director for three years, from November 12, 2026, to November 11, 2029. This requires a special resolution because the aggregate remuneration of executive directors exceeds 5% of the company's net profit under Section 198 of the Companies Act, 2013.

The board also seeks approval to appoint Mr. Yash Rungta as an Independent Director for five years, commencing August 14, 2026. Mr. Rungta, a Chartered Accountant with over 15 years of experience, currently serves as Chairman of the Audit Committee at Swasti Vinayaka Art And Heritage Corporation Limited.

Financial Performance and Corporate Governance

The explanatory statement discloses total revenue of ₹338.74 crore and a Profit After Tax (PAT) of ₹305.02 lakh for the year ended March 31, 2026. The company attributes lukewarm demand in Western markets to international instability and high inflation, despite expanding its customer base and entering new export houses.

Notably, the company states it was not required to comply with SEBI Corporate Governance provisions for FY26 as its paid-up share capital and net worth were below prescribed thresholds as on March 31, 2025. However, these provisions become applicable from April 1, 2026, based on metrics as on March 31, 2026.

Related Party Transactions

The AGM will approve material related-party transactions (RPTs) with five entities linked to the promoter group, including Ashirwad Shelters Private Limited and Ivy League Fashions Private Limited. These transactions involve borrowings, loans, advances, and corporate guarantees.

All proposed RPTs are priced on an arm's length basis. The board notes that these arrangements facilitate funding, liquidity, and operational requirements.

Secretarial Audit and Voting

Sandeep Dar & Co has been recommended for appointment as Secretarial Auditor for five consecutive years, from FY27 to FY31. Remote e-voting will be facilitated by Bigshare Services Private Limited, with voting open from September 24 to September 28, 2026.