Shareholders of Texmo Pipes & Products approved a preferential issuance of equity shares to promoters at the company’s 18th Annual General Meeting held on September 11, 2026. The meeting also saw the reappointment of Mrs. Rashmi Agrawal as a director and approval of remuneration for key management personnel.

The AGM was conducted via video conferencing in compliance with Ministry of Corporate Affairs and SEBI circulars. Mrs. Rashmi Agrawal chaired the proceedings, which began at 12:30 pm and concluded at 1:18 pm. The Company Secretary confirmed the presence of quorum and noted that the auditors’ report contained no qualifications or adverse observations on financial transactions.

Key Resolutions Passed

Members voted on six resolutions during the meeting. Key outcomes included:

• Adoption of audited standalone and consolidated financial statements for the year ended March 31, 2026.
• Reappointment of Mrs. Rashmi Agrawal (DIN: 00316248) as a director upon retirement by rotation.
• Approval of remuneration for Cost Auditor for FY27.
• Issuance of equity shares on a preferential basis to promoters.
• Approval of remuneration for Smt. Rashmi Agrawal as Whole Time Director and Mr. Sanjay Kumar Agrawal as Managing Director for their remaining tenures.

Voting Process and Results

The company provided e-voting facilities through KFin Technologies Limited from September 8, 2026, at 9:00 am to September 10, 2026, at 5:00 pm. Members unable to vote remotely used the InstaPoll facility available until 15 minutes after the AGM’s conclusion. Mr. Dinesh Kumar Gupta, Practicing Company Secretary, was appointed to scrutinize the e-voting results.

Ten members registered as speakers, with several raising concerns about operations and future performance. Management addressed these queries during the session. The Chairperson’s address highlighted the company’s performance for FY26 and discussed industry outlooks, including operations at subsidiary Shree Venkatesh Industries Private Limited in Pithampur, Madhya Pradesh.

Resolution-wise Voting Outcomes

Promoters and promoter group voted 100% in favor of all resolutions. Public institutional investors also voted unanimously in favor. Non-institutional public shareholders showed minor dissent, particularly on the remuneration resolutions for key management personnel, where approximately 0.5% of votes were cast against.

Texmo Pipes & Products issued a corrigendum to the notice for its 18th Annual General Meeting (AGM) scheduled for September 11, 2026. The filing clarifies the intended utilization of proceeds from a proposed preferential issue and confirms the promoter status of allottees.

The company stated that the proceeds will be deployed to meet working capital requirements in the ordinary course of business. The total amount earmarked for this object is ₹698.44 lakh, with a tentative timeline for utilization set within three months.

Preferential Issue Details

The corrigendum adds specific disclosures to the explanatory statement for item no 4 of the AGM notice. It specifies that the equity shares are frequently traded on stock exchanges, satisfying Regulation 164 of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.

Promoter Status Confirmation

Under Regulation 163(1)(j) of the SEBI ICDR Regulations, the company disclosed the current and proposed status of the allottees post-issue. Both Mr Sanjay Kumar Agrawal and Mrs Rashmi Agrawal are classified as promoters. Their status as promoters will remain unchanged following the preferential issue.

The company is in the process of sending the corrigendum to shareholders and other entitled parties. The document is also available on the company’s website.