Valiant Organics Limited shareholders approved all 15 resolutions put forth at the company's 21st Annual General Meeting (AGM), held virtually on September 29, 2026. The approvals covered financial statements, director re-appointments, and material related party transactions.

The meeting, conducted via Video Conferencing/Other Audio Visual Means, saw participation from 51 shareholders through the digital platform. The scrutinizer’s report confirmed that all resolutions were passed with the requisite majority under the Companies Act, 2013 and SEBI Listing Regulations.

Key Resolutions Passed

The agenda included the adoption of audited standalone and consolidated financial statements for the financial year ended March 31, 2026. Shareholders also ratified the remuneration payable to the Cost Auditor for FY27.

Director-related resolutions included:

• Re-appointment of Nemin M. Savadia as Executive Director liable to retire by rotation.
• Re-appointment of Santosh S. Vora as Non-Executive Director liable to retire by rotation.
• Revision in terms and conditions for Managing Director Sathiababu K. Kallada and his subsequent re-appointment for a term of 3 years effective May 24, 2027.
• Revision in terms and conditions for Executive Directors Mahek M. Chheda, Nemin M. Savadia, and Siddharth D. Shah.

Additionally, a special resolution was passed to approve the shifting of the registered office within Maharashtra, including amendments to the Memorandum of Association.

Related Party Transactions

Five ordinary resolutions approved material related party transactions with associated entities. These included agreements with Aarti Industries Limited, Valiant Laboratories Limited, Alchemie Specialty Chemicals Private Limited, Valiant Advanced Sciences Private Limited, and Alchemie Finechem Private Limited.

What the Numbers Show

The voting data reveals a stark divergence in shareholder engagement between general corporate matters and related party transactions. For non-RPT resolutions, total votes polled stood at 19,353,039, representing approximately 69% of the outstanding share capital of 28,034,610 shares. In contrast, votes polled on RPT resolutions dropped significantly to between 2,708,551 and 2,804,292 shares, representing roughly 9.6% to 10% of outstanding shares.

This decline is primarily due to the exclusion of promoter and promoter group holdings from voting on RPTs, as they are considered interested parties. Promoters hold 10,618,924 shares, which accounts for roughly 38% of the total equity. Their exclusion mechanically reduces the voting base for these specific items, resulting in a much lower absolute number of votes cast compared to routine business items where promoters voted unanimously in favor.

Valiant Organics Limited reported a profit after tax of ₹34.36 crore for the financial year ended March 31, 2026, marking a significant turnaround from a loss of ₹3.00 crore in the previous year.

The speciality chemicals manufacturer disclosed these figures during its 21st Annual General Meeting held on September 29, 2026, via video conferencing. Revenue from operations for FY26 stood at ₹738.38 crore, while EBITDA reached ₹100.80 crore, reflecting an EBITDA margin of 13.65%.

Financial Performance Highlights

The company highlighted improvements in profitability and margins alongside operational efficiencies undertaken during the fiscal year. Key financial metrics for FY26 are summarized below:

Strategic Focus and Operations

Navin C. Shah, Chairperson of the company, addressed shareholders on the operating performance, emphasizing the focus on improving capacity utilisation and operating efficiencies. The management prioritized higher-value products and import-substitution opportunities as part of its strategic roadmap. Additionally, the company outlined prudent capital allocation strategies to support future growth.

Mahek M. Chheda, Executive Director and Chief Financial Officer, presented an overview of the company’s manufacturing footprint, key chemistries, and product portfolio. The presentation underscored strengths in the pharmaceutical intermediates business, along with safety and environmental initiatives.

AGM Proceedings and Resolutions

The meeting was attended by 51 members through video conferencing. The requisite quorum was present, and the proceedings were deemed to have been conducted at the registered office. The following key resolutions were taken up:

• Adoption of audited standalone and consolidated financial statements for FY26.
• Re-appointment of directors Nemin M. Savadia and Santosh S. Vora, who retired by rotation.
• Ratification of remuneration for the cost auditor for FY27.
• Shifting of the registered office within Maharashtra.
• Revision in terms of appointment for Managing Director Sathiababu K. Kallada and other executive directors.
• Approval of material related party transactions with entities including Aarti Industries Limited and Valiant Laboratories Limited.

What the Numbers Show

The shift from a net loss of ₹3.00 crore in FY25 to a net profit of ₹34.36 crore in FY26 indicates a substantial improvement in bottom-line performance. With an EBITDA margin of 13.65% on revenue of ₹738.38 crore, the company demonstrated enhanced operational leverage compared to the previous year's deficit position.