Unison Metals reported that all five ordinary resolutions proposed at its 36th Annual General Meeting (AGM) were passed with the requisite majority. The meeting, held on September 30, 2026, saw shareholders approve key items including the adoption of financial statements and related party transactions.

The scrutinizer’s report, submitted on October 2, 2026, confirmed the outcomes for each agenda item. The voting process combined remote e-voting and physical polling at the registered office in Ahmedabad. A total of 33 shareholders attended the meeting in person or through proxies, while a significant portion of votes was cast electronically prior to the meeting.

Key resolutions approved

The first resolution involved receiving and adopting the audited standalone and consolidated financial statements for the financial year ended March 31, 2026. This item received overwhelming support, with 99.9985% of the votes polled in favor. The second resolution concerned the re-appointment of Maheshbhai V. Changrani as a director retiring by rotation. This too was passed with 99.9984% of votes in favor.

Shareholders also ratified the remuneration payable to the cost auditor for FY27. The third resolution secured 99.9985% support from the voting base. These approvals reflect standard governance compliance without significant dissent among participating shareholders.

Related party transactions

Two resolutions focused on related party transactions involving Unison Forgings Private Limited. The fourth resolution sought approval for a contract/agreement between Unison Metals and Unison Forgings. Given the promoter interest in this transaction, promoter shares were excluded from voting on this specific item. The resolution passed with 99.9598% of the eligible votes in favor.

The fifth resolution addressed a transaction between Chandanpani Limited, a subsidiary of Unison Metals, and Unison Forgings Private Limited. Similar to the previous item, this was an ordinary resolution with promoter interest. It was approved by 99.9561% of the votes cast by eligible shareholders.

Voting participation details

The following table summarizes the voting outcome for each resolution:

What the numbers show

A distinct pattern emerges when comparing the voting turnout across different resolution types. For routine governance matters like financial statement adoption (Resolution 1), the total number of votes polled stood at 89,108,029, representing approximately 30.08% of outstanding shares. However, for the related party transactions (Resolutions 4 and 5), where promoters abstained due to conflict of interest, the total votes polled dropped significantly to 3,233,589 shares, or just 1.09% of outstanding shares.

This disparity highlights the heavy reliance on promoter voting power for routine approvals versus the minimal public participation in decisions affecting related party dealings. While the low turnout on RPTs is legally valid given the exclusion of interested parties, it indicates that public shareholders exercised their voting rights on these specific commercial agreements at a much lower rate compared to statutory compliance items.

Unison Metals filed its 36th Annual Report for FY26 with BSE on September 5, 2026, reporting consolidated revenue from operations of ₹49,865.64 lakhs and a standalone net profit of ₹181.43 lakhs.

The company has scheduled its 36th Annual General Meeting (AGM) for September 30, 2026, at 11:00 AM at its registered office in GIDC Vatva, Ahmedabad. The record date for voting eligibility is September 23, 2026, with the Register of Members and Share Transfer Books remaining closed from September 21, 2026 to September 30, 2026.

Financial Performance

The company's financial results for FY26 reflect growth on both standalone and consolidated bases. The following table summarises key financial metrics:

On a standalone basis, finance costs declined to ₹131.53 lakhs from ₹258.71 lakhs in the prior year, reflecting substantial repayment of long-term debt. The standalone total debt-equity ratio improved to 0.56 from 1.39, and the debt service coverage ratio rose to 1.62 from 0.69. The company transferred ₹179.23 lakhs to reserves during the year. No dividend was recommended for FY26.

Capital Structure and Share Subdivision

During FY26, the company allotted 1,36,01,287 equity shares of face value ₹10 each at an issue price of ₹25 per share via a rights issue, increasing paid-up share capital by ₹13,60,12,870 and securities premium by ₹20,40,19,305. Subsequently, at the 35th AGM held on September 29, 2025, shareholders approved a subdivision of each equity share of face value ₹10 into 10 equity shares of face value ₹1 each. The record date for the subdivision was November 28, 2025, and NSDL assigned new ISIN INE099D01026 effective from that date. As at March 31, 2026, the paid-up share capital stood at ₹29,62,22,870, comprising 29,62,22,870 equity shares of face value ₹1 each.

Subsidiary Performance

Chandanpani Limited (formerly Chandanpani Private Limited), the wholly owned subsidiary, reported the following for FY26:

AGM Agenda

The AGM notice outlines the following business items:

Ordinary Business

• Adoption of audited standalone and consolidated financial statements for FY26 ended March 31, 2026.
• Re-appointment of Mr. Maheshbhai V. Changrani (DIN: 00153615) as a director, who retires by rotation.

Special Business

1. Cost Auditor Remuneration: Ratification of remuneration of ₹60,000 including GST to M/s. K V M & Co., Cost Accountants, for the cost audit of FY27.
2. Related Party Transaction with UFPL: Approval for contracts with Unison Forgings Private Limited for an aggregate value not exceeding ₹100 crore during FY27.
3. Related Party Transaction with Subsidiary: Approval for Chandanpani Limited to enter into contracts with Unison Forgings Private Limited for an aggregate value not exceeding ₹100 crore during FY27.

Key AGM Dates

Related Party Transaction Details

The proposed transactions with Unison Forgings Private Limited (UFPL) are expected to comprise purchase, sale or supply of goods or services, or borrowings in the ordinary course of business on an arm's length basis. Mr. Tirth Uttam Mehta is a common director between Unison Metals, Chandanpani Limited, and UFPL, creating the related party relationship. The ₹100 crore cap constitutes 20.054% of the company's annual consolidated turnover for FY26.

The following table details previous transactions between the parties in FY26:

For borrowings from UFPL, the applicable interest rate is 8%, with repayment terms of 3 years for Unison Metals and 5 years for Chandanpani Limited, both unsecured and for working capital purposes. The proposed ₹100 crore cap for the CPL–UFPL transaction constitutes 35.131% of CPL's annual standalone turnover for FY26.

Auditors and Compliance

M/s. Purushottam Khandelwal & Co. (FRN: 123825W), Chartered Accountants, served as statutory auditors. The standalone audit report carries an unqualified opinion, while the consolidated audit report carries a qualified opinion relating to the Group's investment in associate Chandanpani Enterprise, where the auditors were unable to obtain sufficient audit evidence about the fair value of the associate's investment in a foreign entity carried at ₹198.89 lakhs. The secretarial audit was conducted by M/s. G R Shah & Associates. The secretarial audit report noted certain inadvertent compliance observations related to shareholding disclosures and report submissions, all of which were subsequently rectified and clarified to BSE.