Ucal Ltd holds 40th AGM, adopts FY26 financials and director reappointment
- Ucal Limited held its 40th AGM on September 29, 2026, via video conferencing
- Shareholders adopted audited financial statements for the year ended March 31, 2026
- Mr. Abhaya Shankar was reappointed as a director retiring by rotation
- Special resolution approved remuneration for Mr. Abhaya Shankar for FY27-28
*this image is generated using AI for illustrative purposes only.
Ucal Limited held its 40th Annual General Meeting on September 29, 2026, at 4:00 pm IST. The meeting was conducted through Video Conferencing and Other Audio Visual Means in compliance with Ministry of Corporate Affairs and SEBI circulars.
The Chairman, Mr. Jayakar Krishnamurthy, confirmed the presence of the requisite quorum with 108 members attending. The Statutory Auditors' report was noted as unqualified, eliminating the need for its reading under Section 145 of the Companies Act, 2013.
Resolutions passed
Shareholders voted on four key items of business, including the adoption of audited financial statements and director appointments. Remote e-voting was available prior to the meeting, with additional voting facilities open for 15 minutes after the conclusion of the AGM.
| Item | Particulars | Resolution Type |
|---|---|---|
| 1 | Adoption of audited financial statements for FY26 | Ordinary |
| 2 | Reappointment of Mr. Abhaya Shankar (DIN: 00008378) | Ordinary |
| 3 | Payment of remuneration to Mr. Abhaya Shankar for FY27-28 | Special |
| 4 | Ratification of remuneration to cost auditor | Ordinary |
Leadership and attendance
The Board of Directors present included:
- Mr. Jayakar Krishnamurthy, Chairman and Managing Director
- Mr. Ram Ramamurthy, Whole Time Director
- Mr. Adithya Srivatsa Jayakar, Deputy Managing Director and CEO
- Mr. S. Balasubramanian, Independent Director
- Mr. I.V. Rao, Independent Director
- Mr. R. Sundar, Independent Director
- Mr. Abhaya Shankar, Non-Executive Director
- Ms. Sandhya Shekhar, Independent Director
Key Managerial Personnel in attendance were Mr. M. Manikandan (Chief Financial Officer) and Mr. S. Narayan (Company Secretary). Representatives from statutory auditors R. Subramanian and Company LLP and secretarial auditors M/s. P. Muthukumaran and Associates were also present.
Procedural details
The Chairman addressed queries regarding business performance, technology, and new products. Members who had not voted remotely were invited to cast their votes via the NSDL platform during the meeting. The consolidated results of e-voting are to be intimated to stock exchanges within two working days.
Historical Stock Returns for UCAL
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -3.61% | -4.30% | -8.69% | +39.49% | +1.15% | -15.44% |
How will the approved remuneration structure for Mr. Abhaya Shankar for FY27-28 impact Ucal Limited's operating expenses and profit margins in the coming fiscal years?
What specific new products or technology upgrades did the Chairman highlight during the Q&A session that could drive future revenue growth?
Given the unqualified audit report, what are the company's stated capital expenditure plans for expanding its fuel system manufacturing capabilities?
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