Vardhman Special Steels AGM resolutions pass with 79% shareholder vote
- Shareholders approved a final dividend of ₹3.5 per share for FY26
- All seven resolutions passed with 79.01% of outstanding shares polled
- Directors Rajendar Kumar Rewari and Toshio Ito reappointed by rotation
- Promoters voted 100% in favour of all agenda items
*this image is generated using AI for illustrative purposes only.
Vardhman Special Steels shareholders approved all seven resolutions at its 16th Annual General Meeting on September 18, 2026. The final dividend of ₹3.5 per equity share for FY26 was ratified alongside director reappointments.
The meeting, conducted via Video Conferencing and Other Audio Visual Means, commenced at 10:00 am and concluded at 10:33 am. Chairman and Managing Director Sachit Jain presided over the proceedings. Audited financial statements for the fiscal year ended March 31, 2026 were adopted by shareholders.
Governance and Board Changes
Shareholders approved the reappointment of two directors retiring by rotation under Section 152(6) of the Companies Act, 2013:
- Rajendar Kumar Rewari (DIN: 00619240)
- Toshio Ito (DIN: 09654963)
A special resolution was passed to approve the continuation of Rajendar Kumar Rewari’s term as Executive Director upon attaining the age of 70 years.
Special Resolutions
The special business agenda included two significant approvals:
- Revision of remuneration payable to Soumya Jain, Executive Director.
- Ratification of remuneration for Cost Auditors for the financial year ending March 31, 2027.
Voting Results
Remote e-voting was facilitated through CDSL from September 15 to September 17, 2026. Khanna Ashwani & Associates served as the scrutinizer. A total of 76,406,908 votes were polled across all resolutions, representing 79.01% of outstanding shares. The scrutinizer report confirmed that all resolutions were passed with requisite majority.
| Resolution | Promoter Votes (%) | Public Institution Votes (%) | Public Non-Institution Votes (%) | Total Votes Polled |
|---|---|---|---|---|
| Adopt Financial Statements | 100.00% | 100.00% | 100.00% | 76,406,908 |
| Declare Dividend | 100.00% | 100.00% | 100.00% | 76,406,908 |
| Re-appoint R.K. Rewari | 100.00% | 97.98% | 100.00% | 76,406,633 |
| Re-appoint T. Ito | 100.00% | 97.98% | 100.00% | 76,406,633 |
| Revise S. Jain Remuneration | 100.00% | 100.00% | 99.99% | 76,406,908 |
| Ratify Cost Auditor Fees | 100.00% | 100.00% | 100.00% | 76,398,232 |
| Continue R.K. Rewari Term | 100.00% | 97.98% | 99.96% | 76,406,633 |
Promoter group shareholders held 49,493,999 shares and voted 100% in favour of all resolutions. Public institutional investors held 3,054,973 shares, while public non-institutional shareholders held 44,152,206 shares.
Historical Stock Returns for Vardhman Special Steels
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -2.48% | -0.63% | -8.57% | +44.44% | +33.16% | 0.0% |
How will the approved revision of Executive Director Soumya Jain's remuneration impact Vardhman Special Steels' operational costs and profit margins in FY27?
What strategic initiatives is the management planning to pursue to justify the continued dividend payout of ₹3.5 per share amidst current steel sector volatility?
How might the extension of Rajendar Kumar Rewari's term beyond age 70 influence long-term corporate governance perceptions and institutional investor confidence?
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