Vishal Mega Mart Limited has scheduled its eighth annual general meeting for September 18, 2026. The meeting will be held at 12:00 noon through video conferencing or other audio-visual means.

The company announced the date under Regulation 34 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The notice was issued on August 24, 2026.

Agenda Items

Shareholders will transact ordinary and special business during the meeting. The key items include:

• Adoption of audited standalone and consolidated financial statements for the financial year ended March 31, 2026.
• Re-appointment of Mr. Sanjeev Aga as a non-executive non-independent director upon retirement by rotation.
• Approval for the continuation of Mr. Aga’s directorship despite attaining the age of 75 years on February 1, 2027.
• Re-appointment of Ms. Neha Bansal as a non-executive independent director.

Governance Details

The Board of Directors recommended the continuation of Mr. Aga’s tenure based on the Nomination and Remuneration Committee’s advice. This aligns with Regulation 17(1A) of the SEBI Listing Regulations.

Ms. Bansal’s re-appointment follows her declaration of independence under Section 149(6) of the Companies Act, 2013. She currently holds office until September 22, 2026.

Accessing Documents

The notice and the annual report for FY26, including the Business Responsibility & Sustainability Report, are available on the company website.

Vishal Mega Mart has been rated Overweight by Morgan Stanley, which set a target price of ₹146. The broker cited the removal of succession concerns following the leadership reappointment and an attractive valuation multiple.

The bank highlighted the five-year reappointment of Mr. Gunender Kapur as Founder, Managing Director and CEO, effective September 1, 2026. Morgan Stanley noted that this move addresses potential succession risks. The firm also pointed to the company’s consistent execution and a 42.8x 12-month price-to-earnings (P/E) ratio compared to discretionary peers as key factors supporting its positive view.

Leadership Continuity

The board of directors approved Mr. Kapur’s reappointment during its meeting on August 21, 2026. The decision followed a recommendation from the Nomination and Remuneration Committee and is subject to shareholder approval.

Mr. Kapur was originally appointed for a three-year term starting June 27, 2024, expiring on June 26, 2027. The new tenure commences earlier, on September 1, 2026, and runs through August 31, 2031.

Leadership Profile

Mr. Kapur holds a bachelor’s degree in engineering with honours from the Birla Institute of Technology and Sciences and a master’s degree in business administration from the University of Delhi. He brings over 42 years of experience in management and investment within the consumer and retail sectors.

His professional background includes associations with Hindustan Lever Limited, Unilever Nigeria PLC, Reliance Industries Limited and TPG Capital. The company confirmed that he is not debarred from holding office by any SEBI order or other authority and is not related to any other directors of the company.