Vishal Mega Mart Limited shareholders approved all six resolutions at its eighth annual general meeting on September 18, 2026. The session saw unanimous promoter support for every agenda item.

The key outcome was the re-appointment of Mr. Gunender Kapur as Founder, Managing Director and Chief Executive Officer for a tenure of five years, effective from September 1, 2026, to August 31, 2031. While the resolution passed with 90.90% overall support, it faced notable opposition from public institutional investors, who voted against it at a rate of 16.09%.

Ms. Neha Bansal was also re-appointed as a Non-Executive Independent Director for a second term of one year, commencing from September 23, 2026, up to and including September 22, 2027.

Voting Results Breakdown

The scrutinizer’s report, issued by Chandrasekaran Associates on September 19, 2026, detailed the voting patterns across remote e-voting and e-voting at the AGM. A total of 4,318.7 million votes were polled out of 4,684.8 million outstanding shares, representing a participation rate of 92.19%.

All resolutions were passed without any invalid votes recorded. The promoter group, holding 1,874.9 million shares, exercised 100% of its voting rights in favour of every resolution. Public non-institutional shareholders showed high engagement, with approximately 11.94% of their shares polled.

Governance and Leadership Continuity

The board recommended several key governance actions during the meeting. Shareholders approved the continuation of Mr. Sanjeev Aga’s directorship upon attaining the age of 75 years, alongside his re-appointment as a Non-Executive Non-Independent Director.

A special resolution to cap the Aggregate Foreign Ownership Limit at 49.99% of total equity instruments on a fully diluted basis received near-unanimous support, with only 0.0002% of votes cast against it. This cap ensures that foreign ownership remains below the majority threshold, preserving domestic control over the company’s strategic direction.

Mr. Gunender Kapur addressed members regarding the company’s performance in FY26, highlighting strong results in profit, revenue, and new store openings. The statutory auditors and secretarial auditors issued reports without qualifications or adverse remarks for the financial year ended March 31, 2026.

Meeting Proceedings

Ms. Neha Bansal, Chairperson and Independent Director, presided over the proceedings after confirming the presence of a quorum. One hundred seven members attended the session physically via video conferencing. The remote e-voting period ran from September 15 to September 17, 2026, while e-voting at the AGM remained open for the last 30 minutes of the meeting.

Mr. Shashikant Tiwari of Chandrasekaran Associates served as the scrutinizer, with Mr. Lakhan Gupta as the alternate scrutinizer. Three directors—Mr. Yogesh Yadav, Mr. Sanjeev Aga, and Mr. Vageesh Gupta—were unable to attend due to prior engagements.

Vishal Mega Mart will host a group meeting with investors and analysts at its subsidiary’s store in Lucknow on September 24, 2026. The session begins at 2:00 pm.

The company issued the intimation on September 18, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Officials from the company will attend the interaction.

Meeting Details

The schedule is subject to change due to exigencies on the part of participants or the company. The firm stated that no unpublished price-sensitive information would be shared during the interactions.

Rahul Luthra, Company Secretary and Compliance Officer, signed the disclosure.