Shareholders of Venus Pipes & Tubes approved a final dividend of ₹0.50 per equity share for FY26 and reappointed seven board members for five-year terms at the company's 12th Annual General Meeting held on September 11, 2026.

The AGM, conducted via Video Conference/Other Audio Visual Means (OAVM), processed votes from shareholders holding 20,716,110 shares. Remote e-voting ran from September 7 to September 10, 2026, while e-voting was available during the meeting on September 11, 2026. Piyush Prajapati & Associates served as the scrutinizer for the voting process.

Dividend and Financials

Members confirmed the payment of an interim dividend of ₹0.50 per equity share (5%) and declared a final dividend of ₹0.50 per equity share (5%) for the financial year ended March 31, 2026. The resolution passed with unanimous support from all voting categories.

Board Reappointments

The AGM approved the reappointment of several directors for terms extending to September or October 2031:

• Mr. Arun Axaykumar Kothari as Chairman and Managing Director (liable to retire by rotation)
• Mr. Megharam Sagramji Choudhary as Wholetime Director (liable to retire by rotation)
• Mr. Dhruv Mahendrakumar Patel as Wholetime Director (liable to retire by rotation)
• Mr. Jayantiram Motiram Choudhary as director retiring by rotation
• Mr. Kailash Nath Bhandari as Independent Director (second term, not liable to retire by rotation)
• Mr. Pranay Ashok Surana as Independent Director (second term, not liable to retire by rotation)
• Mrs. Komal Lokesh Khadaria as Independent Director (second term, not liable to retire by rotation)

Mr. Shyam Agrawal's reappointment as Independent Director also passed, though it received significant opposition from institutional investors.

Voting Analysis

Promoter group shareholders voted in favor of all resolutions, casting 10,026,824 votes representing 99.97% of their outstanding shares. Public institutional shareholders showed varying levels of support across different agenda items.

What the Numbers Show

Institutional investors opposed Mr. Shyam Agrawal's reappointment as Independent Director, with 88.49% of their votes cast against the resolution. Despite this opposition, the resolution passed due to strong promoter support, receiving 84.35% of total votes polled in favor. Similarly, institutional shareholders voted against increasing borrowing limits (87.69% against) and creation of charges (45.50% against), though both special resolutions secured majority approval overall.

The cost auditor remuneration ratification received near-unanimous support, with only 664 votes cast against out of 13,593,219 total votes polled.

Venus Pipes & Tubes will hold a Board of Directors meeting on September 16, 2026, to consider raising capital through the issue of Equity Shares. The proposal involves a preferential issue, private placement, or a combination of both methods.

The company must obtain necessary regulatory and statutory approvals, including shareholder consent, before proceeding with the fundraising exercise. The Board may also convene an extraordinary general meeting to seek approval for these proposals.

Trading Window Closure

In compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, the trading window for equity shares is closed for designated persons, their immediate relatives, and other connected persons. The closure began on September 10, 2026, and remains in effect until 48 hours after the conclusion of the Board Meeting.