Tirupati Starch & Chemicals Limited confirmed that all resolutions proposed at its 40th Annual General Meeting were duly approved by shareholders with overwhelming majority. The company submitted the combined voting results and the Scrutinizer’s Report to BSE Limited on September 22, 2026, following the meeting held on September 21, 2026.

The meeting, conducted in a hybrid format combining physical attendance with video conferencing, saw a total of 8 resolutions passed. These included the adoption of standalone and consolidated financial statements for FY26 and various director reappointments. The Scrutinizer, Ankit Dhanotia of M/s. ADJ & Associates, certified that all resolutions were carried out with the requisite majority through remote e-voting, e-voting during the AGM, and voting by poll.

Governance Updates

Mr. Prakash Chandra Bafna, Chairman, presided over the meeting. Mr. Sourabh Vishnoi, Company Secretary and Compliance Officer, welcomed attendees and confirmed the presence of all directors, key managerial personnel, statutory auditors, secretarial auditors, and the scrutinizer.

The quorum was present, allowing the meeting to proceed. The Company Secretary informed members that all statutory registers and documents were available for inspection throughout the session.

Financial Statements Adoption

Shareholders received, considered, and adopted the standalone and consolidated audited financial statements for the fiscal year ended March 31, 2026. These approvals included the reports of the Board of Directors and the auditors.

The auditors’ reports on both standalone and consolidated financial statements contained no qualifications, reservations, adverse remarks, or disclaimers. The observations from the Secretarial Audit Report were also read during the meeting.

Director Reappointments

The meeting addressed multiple ordinary and special resolutions regarding board composition. The voting results indicate strong shareholder support for the proposed reappointments:

Note: For the reappointments of Mr. Yogesh Kumar Agrawal and Mr. Ramesh Chandra Goyal as Whole-time Directors, they and their relatives abstained from voting due to interest in the resolution.

Director Profile Details

The company disclosed specific details regarding the reappointed directors in compliance with SEBI Listing Regulations:

• Mr. Yogesh Kumar Agrawal: Re-appointed as Whole-time Director for 3 years effective January 1, 2027. He holds a B.Sc. and LL.B. degree and has over 39 years of experience in manufacturing, marketing, and sales of maize, starch, dextrose, and allied products. His tenure extends until December 31, 2029.
• Mr. Ramesh Chandra Goyal: Re-appointed as Whole-time Director for 3 years effective June 28, 2027. He is a graduate with over 38 years of experience in manufacturing, purchase management, vendor relations, marketing, and sale of maize starch, dextrose, and other chemicals. His tenure extends until June 27, 2030.
• Mr. Yashwant Jain Nandecha: Re-appointed as Independent Director for a second term of 5 years effective July 7, 2027. He is a graduate with experience in specific functional areas of business. His tenure extends until July 6, 2032.
• Mr. Sandeep Agrawal: Re-appointed as Independent Director for a second term of 5 years effective July 7, 2027. He is a post-graduate with experience in specific functional areas related to exports. His tenure extends until July 6, 2032.

All four directors are not debarred from holding office pursuant to any SEBI order. None have disclosed relationships with other directors of the company.

Voting Process

Members were offered the option to register as speakers. Mr. Amit Modi, Managing Director, responded to questions raised by members who had registered to speak. No questions were raised by physically present members.

Electronic voting was available via remote e-voting and ballot papers during the AGM. Voting remained open for 15 minutes after the conclusion of the meeting for virtual attendees who had not yet cast their votes. The company stated that the combined results of remote e-voting and in-meeting voting have now been declared following the Scrutinizer’s Report.

Tirupati Starch & Chemicals has scheduled its 40th Annual General Meeting for Monday, September 21, 2026. The hybrid meeting will be held at the company’s registered office in Indore, allowing shareholders to attend physically or via video conferencing.

Financial Performance

The primary agenda includes the adoption of the standalone and consolidated audited financial statements for the fiscal year ended March 31, 2026. The company’s standalone revenue for FY26 stood at ₹36,599.12 crore, a decline from ₹39,023.55 crore in FY25. Total expenses decreased proportionally to ₹35,704.94 crore from ₹38,005.29 crore. Consequently, profit before tax fell to ₹894.18 crore from ₹1,018.26 crore. After accounting for current and deferred tax expenses, the standalone net profit after tax was reported at ₹658.04 crore, compared to ₹753.74 crore in the previous year.

Director Re-Appointments

Shareholders will vote on several ordinary and special resolutions regarding board composition. Mrs. Pramila Jajodia and Mr. Yogesh Kumar Agrawal are seeking re-appointment as directors liable to retire by rotation. Additionally, the meeting will consider the re-appointment of Mr. Yogesh Kumar Agrawal as Whole-time Director for three years commencing January 1, 2027, with remuneration up to ₹84 lakh per annum plus leave encashment.

Mr. Ramesh Chandra Goyal is also seeking re-appointment as Whole-time Director for three years starting June 28, 2027, with similar remuneration terms. Given that he has attained the age of 70 years, this requires approval via a special resolution under Section 196(3)(a) of the Companies Act, 2013. The company noted that while there was no loss in FY26, profits may be inadequate in terms of Section 197 for payment of managerial remuneration.

Independent Directors Mr. Yashwant Jain Nandecha and Mr. Sandeep Agrawal are seeking re-appointment for a second term of five consecutive years each, effective July 7, 2027. Both will serve without remuneration.

Meeting Logistics and Voting

The remote e-voting facility will be available from Friday, September 18, 2026, at 9:00 am to Sunday, September 20, 2026, at 5:00 pm. The cut-off date for identifying eligible members is Monday, September 14, 2026. Shareholders can cast votes electronically using the facility provided by Central Depository Services (India) Limited (CDSL). The notice convening the AGM and the annual report are available on the company’s website and the BSE Limited website.

Mr. Ankit Dhanotia, Partner of M/s ADJ & Associates, Company Secretaries, Indore, has been appointed as the scrutinizer for the e-voting process. The results of the resolutions placed before the AGM will be announced within two working days from the conclusion of the meeting.

Members holding shares in physical form are requested to update their contact details, including email, PAN, nomination, and bank details, in accordance with SEBI circulars. Those without registered email addresses will receive a letter containing web links to the annual report.