Ucal holds 40th AGM on Sep 29; urges KYC updates for shareholders
- Ucal Limited holds its 40th AGM on September 29, 2026, via video conferencing
- E-voting runs from September 25 to September 28, 2026, with a record date of September 22
- Shareholders urged to update KYC details and dematerialize physical shares per SEBI circulars
- Abhaya Shankar seeks reappointment as director with ₹24 lakh annual remuneration for FY28
*this image is generated using AI for illustrative purposes only.
Ucal Limited will hold its 40th Annual General Meeting on September 29, 2026. The meeting is scheduled for 4:00 pm via video conferencing or other audio-visual means.
The company has issued a reminder to shareholders holding physical securities to update their KYC details pursuant to SEBI Master Circular No. SEBI/HO/MIRSD/POD-1/P/CIR/2024/37 dated May 7, 2024. This includes recording PAN, address, mobile number, bank account details, specimen signature, and nomination choice. Physical folios without these details are eligible for payments only through electronic mode from April 1, 2024.
Voting Details
Shareholders can participate remotely via electronic voting. The remote e-voting facility opens on September 25, 2026, and closes on September 28, 2026. Eligibility for voting is determined by the shareholding record as of September 22, 2026.
Agenda Items
The primary business involves adopting the audited financial statements for the year ended March 31, 2026. This includes both standalone and consolidated reports along with auditor comments.
Director Reappointment
Mr. Abhaya Shankar retires by rotation and offers himself for reappointment as a director. He currently serves as a non-executive non-independent director. The board recommends his reappointment for a term of two years effective from November 13, 2026.
Remuneration Approval
Shareholders must approve the annual remuneration for Mr. Shankar for FY28. The proposed amount is ₹24,00,000 per annum. This payment exceeds fifty percent of the total annual remuneration payable to all non-executive directors.
Cost Auditor Ratification
The meeting will also ratify the remuneration of Mr. L. Thriyambak as cost auditor. His fee is set at ₹3,00,000 per annum plus applicable taxes for the financial year ending March 31, 2027.
Unclaimed Dividends
The notice highlights unclaimed dividends from previous years that will be transferred to the Investor Education and Protection Fund if not claimed.
| Financial Year | Dividend Per Share | Unpaid Amount | IEPF Transfer Date |
|---|---|---|---|
| 2018-19 | ₹9.00 | ₹8,14,410 | December 4, 2026 |
| 2020-21 | ₹2.00 | ₹2,58,731 | December 4, 2028 |
| 2021-22 | ₹2.00 | ₹2,60,001 | November 3, 2029 |
| 2022-23 | ₹2.00 | ₹1,91,867 | December 3, 2030 |
No dividends were declared for FY20, FY24, or FY25. Shareholders holding physical shares are urged to dematerialize them to facilitate smoother transactions.
Historical Stock Returns for UCAL
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -2.38% | +6.75% | +31.36% | +40.90% | +12.15% | 0.0% |
How might the reappointment of Mr. Abhaya Shankar and his proposed remuneration impact shareholder confidence in the company's governance structure?
What are the strategic implications for Ucal Limited given the absence of dividend declarations in FY20, FY24, and FY25?
Could the significant volume of unclaimed dividends indicate a broader trend of passive or disengaged retail shareholders among Ucal's physical folio holders?
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