Veljan Denison Limited has accepted the resignation of Mr. Velamati Gangadhar Srinivas as Non-Executive Chairman and Non-Executive, Non-Independent Director, effective September 7, 2026.

The company disclosed the development to BSE Limited on September 8, 2026, pursuant to Regulation 30(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The resignation was tendered via a letter dated September 7, 2025, with effect from the close of business hours on that date.

Resignation Details

Mr. Srinivas cited certain professional responsibilities and personal reasons for stepping down. The disclosure confirmed there were no other material reasons for the resignation beyond those stated in his letter.

Mr. Srinivas, a member of the promoter group and son of the company’s founder, noted in his resignation letter that his role had remained largely honorary. He stated that his involvement in decision-making had been limited and that he could not make a substantive contribution to management or governance.

Board Transition

The resignation creates a vacancy in the leadership structure. Mr. Srinivas held no directorships or committee positions in other listed entities at the time of cessation. The company’s Company Secretary and Compliance Officer, K. Ramyanka Yadav, signed the regulatory filing.

The board is expected to address the succession planning for the chairman role in due course, ensuring continuity in governance.

Veljan Denison declared a final dividend of ₹8.50 per equity share for the financial year ended March 31, 2026, during its 52nd Annual General Meeting held on August 29, 2026. The payout applies to the company's paid-up capital of ₹4.50 crore.

The meeting, convened at the registered office in Hyderabad, saw shareholders approve all 13 resolutions placed before them. Key agenda items included the adoption of standalone and consolidated audited financial statements for FY26 and the ratification of cost accountant remuneration for FY27.

Board Appointments and Governance

Shareholders re-appointed Mr. V G Srinivas as a Director upon his retirement by rotation. The Board also secured approvals for changes to its independent director composition:

• Appointment of Mr. Ramesh Kumar Nimmagadda as an Independent Director.
• Appointment of Prof. Sunaina Singh as an Independent Director.
• Re-appointment of Dr. A. Suresh for a second consecutive five-year term.

Additionally, members adopted new Memorandum and Articles of Association to align with the Companies Act, 2013, and approved alterations to the Main Objects Clause.

Related-Party Transactions

The AGM approved material related-party transactions with three associate companies: Veljan Hydrail Limited, Suxus Systems Limited, and ECMAT Limited. These special resolutions required non-promoter shareholder approval, which was granted.

What the Numbers Show

Voting participation was heavily skewed toward promoter interests. While promoters held 3,374,194 shares (approximately 75% of the total 4,500,000 shares), they cast 2,130,972 votes, representing nearly 96% of the total votes polled (2,213,137). Public non-institutional shareholders, holding 1,125,554 shares, cast only 82,165 votes. This concentration indicates that promoter voting behavior effectively determined the outcome of all contested resolutions, including board appointments and related-party deals.