Visaka Industries shareholders approved a final dividend of ₹1.20 per equity share and adopted the audited financial statements for the fiscal year ended March 31, 2026, during the company’s 44th Annual General Meeting (AGM). The meeting, held on July 30, 2026, via Video Conferencing (VC) / Other Audio Visual Means (OAVM), also saw the reappointment of Gusti Jall Noria as a director and the ratification of remuneration for cost auditors M/s. Sagar & Associates.

The proceedings were conducted in compliance with Regulation 30 and Regulation 44 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Dr. G. Vivek Venkatswamy, Chairman, presided over the meeting, which concluded at 04:45 PM IST. A total of 81 members attended the virtual session. Shri Vamsi Krishna Gaddam, Joint Managing Director and Member of Parliament (Lok Sabha), was unable to attend due to parliamentary sessions.

Key Resolutions Passed

Shareholders voted on ordinary business items including the adoption of standalone and consolidated financial reports for FY26. The Board of Directors’ report and the reports of the statutory auditors were taken as read, with the Chairman confirming there were no qualifications, observations, or adverse remarks in the statutory or secretarial audit reports.

Gusti Jall Noria (DIN: 00015561), who retired by rotation, offered himself for reappointment as a Non-Independent & Non-Executive Director. The resolution was passed by the members. Additionally, shareholders ratified the remuneration payable to M/s. Sagar & Associates (Firm Reg No. 000118), Cost Accountants, Hyderabad, for the financial year ending March 31, 2027.

Management Outlook and Governance

Dr. Vritika Gaddam, Chief Business Strategist & Advisor to the Chairman, addressed the meeting on business outlooks for roofing, V-next Boards & panels, ATUM solar roofing, and textiles. She highlighted future capital expenditure plans and discussed challenges posed by geopolitical developments and supply chain disruptions.

Shri Ramakanth Kunapuli, Assistant Vice President & Company Secretary, informed members that remote e-voting was facilitated through National Security Depository Limited (NSDL). The combined voting results, supervised by Scrutinizer Shri B. V. Saravana Kumar, are to be submitted to stock exchanges within two working days of the AGM’s conclusion. The statutory auditor for the meeting was Shri Srikanth Pola from Price Waterhouse & Co. Chartered Accountants LLP.

Visaka Industries Limited has received ₹68.73 crore from the Hyderabad Cricket Association (HCA) following an Arbitral Tribunal award confirmed by the Apex Court of India. The funds were received on July 10, 2026, and include interest, providing a positive impact on the company's financials. The payment resolves a long-standing legal dispute between the two entities regarding a cheque petition.

The Principal Special Court in the Cadre of District Judge for Trial and Disposal of Commercial Disputes, Hyderabad, allowed the company's petition (CEA No. 64 of 2026 in CEP No. 22 of 2025) on July 8, 2026. The award was initially granted by the Arbitral Tribunal and subsequently confirmed by the Supreme Court, leading to the transfer of funds to the company's bank account.

Legal Dispute Details

The litigation involved Visaka Industries Limited and the Hyderabad Cricket Association. The dispute centered on a cheque petition, which the company pursued through legal channels to recover dues. The court's decision on July 8, 2026, paved the way for the enforcement of the arbitral award.

Financial Implications

The receipt of ₹68,73,19,584 marks the conclusion of the legal proceedings. The company disclosed that the amount includes interest and will bolster its financial position. The following table summarizes the key details of the transaction:

The disclosure was made to the National Stock Exchange of India Limited and BSE Limited in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that the funds have been credited to its bank account, finalizing the outcome of the dispute.