Texmaco Rail shareholders approve dividend, borrowing limits at 28th AGM
- Texmaco Rail shareholders approved all eight resolutions at the 28th AGM held on September 18, 2026
- Promoter group voted 100% in favour across all items, holding 196,686,552 shares
- Dividend declaration received 99.77% support from total votes polled
- Borrowing limits and asset charge creation passed with near-unanimous approval
*this image is generated using AI for illustrative purposes only.
Texmaco Rail & Engineering shareholders approved all eight resolutions at its 28th Annual General Meeting held on September 18, 2026. The approvals included the declaration of a dividend and an increase in borrowing limits.
The meeting was conducted via video conferencing, with remote e-voting available from September 14 to September 17, 2026. Company Secretary Sandeep Kumar Sultania certified the outcome, while H. K. Agrawal & Co. served as the scrutinizer for the voting process.
Voting Participation
Out of 378,751 shareholders on the record date, voting participation varied by category. Promoter group members accounted for 196,686,552 shares, with 100% of these shares casting votes in favour of all resolutions. Public institutional shareholders held 46,022,204 shares, while public non-institutional shareholders held 164,155,816 shares.
Key Resolutions Passed
The following items were transacted at the AGM:
| Resolution | Description |
|---|---|
| Financial Statements | Adoption of standalone and consolidated audited financials for FY26 |
| Dividend | Declaration of dividend on equity shares for FY26 |
| Director Re-appointment | Re-appointment of U.V. Kamath and Akshay Poddar |
| Cost Auditors | Ratification of remuneration for cost auditors for FY27 |
| Borrowing Limits | Approval of increased borrowing limits under Section 180(1)(c) |
| Asset Charge | Approval of creation of charge on assets under Section 180(1)(a) |
Voting Results
All resolutions were passed with the requisite majority. The promoter group voted unanimously in favour of every item. Public institutional shareholders showed significant dissent only on the adoption of standalone financial statements, voting against it by 99.91% of their polled votes. However, due to the promoter block's full support, the resolution passed overall.
| Resolution | Total Votes Polled | Votes in Favour (%) | Votes Against (%) |
|---|---|---|---|
| Standalone Financials | 231,637,756 | 86.10% | 13.90% |
| Consolidated Financials | 231,637,756 | 86.10% | 13.90% |
| Dividend Declaration | 231,681,844 | 99.77% | 0.23% |
| Re-appointment: U.V. Kamath | 231,681,844 | 99.09% | 0.91% |
| Re-appointment: Akshay Poddar | 231,681,844 | 99.09% | 0.91% |
| Cost Auditor Remuneration | 231,681,835 | 100.00% | 0.00% |
| Borrowing Limits Increase | 231,681,844 | 100.00% | 0.00% |
| Asset Charge Creation | 231,681,844 | 100.00% | 0.01% |
The meeting was convened by notice dated May 12, 2026. The resolutions were passed in compliance with the Companies Act, 2013, and SEBI Listing Regulations.
Historical Stock Returns for Texmaco Rail & Engineering
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +2.66% | -2.64% | +7.27% | +28.13% | -23.23% | +254.76% |
How will the approved increase in borrowing limits impact Texmaco Rail's debt-to-equity ratio and future capital expenditure plans?
What specific strategic initiatives or projects is the company likely to fund using the newly authorized asset charges?
What factors drove the significant dissent from public institutional shareholders regarding the adoption of standalone financial statements?
18
Access 50+ Readymade Screeners 
Use 200+ Custom Filters 
Get Full Market Insights 
