Uttam Sugar Mills confirmed that all resolutions at its 31st Annual General Meeting on September 18, 2026, were passed with the requisite majority. The scrutinizer’s report revealed overwhelming shareholder backing, with total valid votes cast exceeding 23.26 million across most items.

The meeting, held via video conferencing, approved the audited standalone and consolidated financial statements for FY26 and declared a final dividend. M/s N. K. Rastogi & Associates served as the scrutinizer for the voting process. Company Secretary Rajesh Garg filed the results with NSE and BSE pursuant to Regulation 44 of SEBI (LODR) Regulations, 2015.

Voting Results by Resolution

Shareholders voted in favor of all ordinary and special resolutions. The approval rates were unanimous (100%) for the adoption of financial statements, dividend declaration, and most director reappointments. However, the reappointment of Managing Director Raj Kumar Adlakha saw significant dissent from public institutional investors, who voted against the resolution by 52.5%. Despite this, the promoter group’s full support ensured the resolution passed with 99.95% overall support.

Shareholder Participation Details

The detailed filing reveals distinct voting patterns across shareholder categories. Of the 38,138,120 total shares held, promoters held 28,492,830 shares (74.7%).

• Promoter Group: Voted in favor of all resolutions with 100% support on polled votes. Participation rate was high, with 80.9% of outstanding promoter shares voted on financial statement adoptions.
• Public Institutions: Held 177,561 shares. While they supported financial approvals unanimously, they voted against the reappointment of MD Raj Kumar Adlakha (52.5% against). They supported other director reappointments and Section 180 consents unanimously.
• Public Non-Institutions: Held 9,467,729 shares. This group showed negligible opposition to most resolutions, with less than 0.2% votes against on key items like financials and dividend declarations.

Only 137 shareholders attended the meeting through Video Conferencing, comprising 8 from the promoter group and 129 from the public category. E-voting was the primary mode for all resolutions.

Governance and Operational Updates

The board highlighted improvements in profitability, debt reduction, and operational efficiency during FY26. Managing Director Raj Kumar Adlakha addressed members on cane development initiatives, ethanol blending progress, and the expansion of distillery capacity at subsidiary Uttam Distilleries Limited. He also noted growth in branded and specialty sugar products.

Shankar Lal Sharma was reappointed as Whole Time Director, and Ravi Kumar was reappointed as an Independent Director. The company also secured shareholder consent for creating charges and borrowings under Section 180 of the Companies Act, 2013.

Uttam Sugar Mills accepted the resignation of Sanjay Bhandari as Chief Financial Officer effective September 16, 2026. Bhandari served as a key managerial personnel for nearly two decades before stepping down due to health reasons.

The company disclosed the departure to the National Stock Exchange of India Ltd and BSE Limited pursuant to Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The filing confirms that Bhandari tendered his resignation via email on September 15, 2026.

Resignation Details

Bhandari will be relieved from his duties from the closure of business hours on September 16, 2026. In his resignation letter addressed to Managing Director Raj Kumar Adlakha, Bhandari stated that his health no longer allows him to continue in his current position. He emphasized the need to focus on his mental and physical well-being and family.

The company secretary, Rajesh Garg, confirmed that there are no other reasons or considerations behind the resignation apart from the stated health issues. The disclosure includes Annexure-I detailing the cessation date and reason as required by SEBI Circular No SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

Key Particulars

Bhandari expressed gratitude for the opportunities during his tenure and wished the company continued success. The board has acknowledged the resignation and updated its records accordingly.