Vishal Mega Mart holds 8th AGM, reappoints MD Kapur for five years
- Vishal Mega Mart held its 8th AGM on September 18, 2026, via video conferencing
- Shareholders approved the adoption of audited financial statements for FY26
- MD Gunender Kapur was reappointed for a five-year term effective September 1, 2026
- Foreign ownership cap was set at 49.99% of total equity instruments
- Directors Sanjeev Aga and Neha Bansal were reappointed to their respective roles
*this image is generated using AI for illustrative purposes only.
Vishal Mega Mart Limited held its eighth annual general meeting on September 18, 2026. The meeting concluded with shareholders approving key resolutions, including the re-appointment of the managing director.
The event took place via video conferencing and other audio-visual means, facilitated by National Securities Depository Limited. One hundred seven members attended the session, which began at 12:00 noon and ended at 12:51 pm. Ms. Neha Bansal, Chairperson and Independent Director, presided over the proceedings after confirming the presence of a quorum.
Key Resolutions Approved
Shareholders passed several ordinary and special resolutions during the meeting. The board recommended these actions for member approval, covering governance, leadership continuity, and foreign ownership limits.
| Resolution Type | Particulars | Status |
|---|---|---|
| Ordinary | Adoption of audited standalone and consolidated financial statements for FY26 | Passed |
| Ordinary | Re-appointment of Mr. Sanjeev Aga as Non-Executive Non-Independent Director | Passed |
| Special | Continuation of Mr. Sanjeev Aga’s directorship upon attaining age 75 | Passed |
| Special | Re-appointment of Ms. Neha Bansal as Non-Executive Independent Director | Passed |
| Special | Cap on Aggregate Foreign Ownership Limit at 49.99% | Passed |
| Special | Re-appointment of Mr. Gunender Kapur as Founder, MD & CEO for five years | Passed |
Mr. Gunender Kapur, Managing Director and Chief Executive Officer, addressed the members regarding the company’s performance in FY26. He highlighted strong results in profit, revenue, and new store openings during the fiscal year. The company secretary confirmed that statutory auditors and secretarial auditors issued reports without qualifications or adverse remarks for the financial year ended March 31, 2026.
Governance and Compliance
The board appointed Mr. Shashikant Tiwari of Chandrasekaran Associates as the scrutinizer to supervise the e-voting process. Mr. Lakhan Gupta served as the alternate scrutinizer. The company secretary noted that three directors—Mr. Yogesh Yadav, Mr. Sanjeev Aga, and Mr. Vageesh Gupta—were unable to attend due to prior engagements.
Members exercised their voting rights electronically during the remote e-voting period and within a 30-minute window during the meeting. The company committed to responding to any unanswered questions via email within ten working days.
Historical Stock Returns for Vishal Mega Mart
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.39% | -0.73% | -2.70% | -0.53% | -30.91% | -8.29% |
How will the re-appointment of MD & CEO Gunender Kapur for another five years influence Vishal Mega Mart's strategic expansion plans and store rollout targets for FY27?
What are the potential implications of capping aggregate foreign ownership at 49.99% on the company's future capital raising options and strategic partnership opportunities?
Given the approval to continue Mr. Sanjeev Aga’s directorship beyond age 75, how does the board plan to ensure leadership succession and long-term governance stability?
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