Vidya Wires Limited declared the voting results for its 44th Annual General Meeting (AGM) held on September 18, 2026, via video conferencing. All four ordinary resolutions proposed to shareholders were passed.

The meeting was conducted through Video Conferencing and Other Audio Visual Means. The e-voting period commenced on September 15, 2026, and concluded on September 17, 2026. Shareholders holding shares as on the cut-off date of September 11, 2026, were entitled to vote. The scrutinizer's report was submitted by Dineshkumar G. Bhimani of D. G. Bhimani & Associates.

Resolution outcomes

The first resolution concerned the adoption of the audited standalone and consolidated financial statements for the financial year ended March 31, 2026. This was approved by 99.99% of the votes polled in favor. Only 85 votes were cast against this resolution out of over 16 crore votes polled.

The second resolution sought the re-appointment of Mrs. Shilpa Rathi, who retired by rotation. It received support from 99.89% of the votes polled, with 0.10% voting against. The third resolution involved the appointment of D. G. Bhimani & Associates as Secretarial Auditors for a term of five consecutive years. This too was approved with 99.90% votes in favor.

The fourth resolution ratified the remuneration payable to J. B. Mistri & Co., Cost Accountants, as Cost Auditors for the financial year ending March 31, 2027. This resolution saw near-unanimous support, with 99.99% of votes in favor.

Voting participation details

The total number of shareholders on the record date was 87,718. Voting participation varied significantly across shareholder categories. Promoters and promoter group members voted electronically on all resolutions, casting 15,45,29,200 votes each time. Public institutions participated actively, voting on approximately 58.5 lakh shares per resolution. Public non-institutional shareholders had a lower turnout, voting on roughly 3.2 lakh shares.

What the numbers show

A notable divergence exists between promoter and public shareholder engagement. Promoters voted on 99.83% of their holding across all resolutions, indicating high alignment with board proposals. In contrast, public institutional shareholders voted against the re-appointment of Mrs. Shilpa Rathi and the Secretarial Auditor appointment with about 2.61% dissent. Public non-institutional shareholders showed higher dissent rates on these two items, with 3.64% and 0.15% voting against, respectively. This suggests that while overall approval remains high due to promoter dominance, specific governance items faced minor resistance from public investors.

Vidya Wires Limited reported consolidated revenue growth of approximately 24% to around ₹1,840 crore for FY26, while profit after tax rose by over 40% to approximately ₹58 crore. The results were disclosed during the company’s 44th Annual General Meeting held on September 18, 2026.

The management attributed the financial performance to a back-to-back metal booking policy, which shielded margins from copper price and currency volatility. This strategy proved critical in sustaining profitability despite market fluctuations in raw material costs.

Capacity Expansion and Balance Sheet

A significant portion of the initial public offering proceeds is being deployed towards capacity expansion through ALCU Industries, a wholly owned subsidiary. ALCU commenced operations in February 2026 and has entered regular commercial production. The remaining capacity is expected to be fully commissioned by the end of the third quarter of the current financial year.

This expansion is projected to nearly double the company’s total capacity. It will enable the manufacturing of higher-value products, including continuously transposed conductor (CTC), with production expected to commence in the third quarter of FY27. Additionally, ₹100 crore of IPO proceeds were utilized to repay borrowings, thereby strengthening the balance sheet.

What the Numbers Show

The divergence between revenue growth (24%) and profit after tax growth (>40%) indicates operating leverage. The effective hedging against copper price volatility allowed the company to retain a disproportionate share of the top-line growth as bottom-line profit, rather than passing all cost pressures or benefits directly through margins.

Governance and Resolutions

The AGM saw participation from 34 members representing 72.88% of equity shares. Key resolutions passed included:

• Adoption of audited standalone and consolidated financial statements for FY26.
• Re-appointment of Mrs. Shilpa Rathi as a director retiring by rotation.
• Appointment of M/s. D. G. Bhimani & Associates as Secretarial Auditor for five years.
• Ratification of remuneration for Cost Auditors M/s. J. B. Mistri & Co. for FY27.

Mr. Shyamsundar Rathi served as Chairman, while Mr. Shailesh Rathi provided operational updates. The meeting concluded with no qualifications in the Statutory or Secretarial Audit Reports.