Zodiac Energy submitted a revised scrutinizer's report to stock exchanges on October 3, 2026, concerning its 34th Annual General Meeting (AGM) held on September 23, 2026. The company clarified that the revision was procedural and did not change the voting outcomes of the meeting.

The revised report, prepared by SCS and Co. LLP, incorporates a specific bifurcation of voting figures into two categories: remote e-voting conducted during the AGM and remote e-voting conducted prior to the AGM. This adjustment aligns with regulatory requirements for detailed disclosure of voting mechanisms used by shareholders.

Voting Results Remain Unchanged

The company explicitly stated that there is no change in the voting results as previously submitted to the stock exchanges. Apart from the added bifurcation of voting figures, no other changes were made to the original scrutinizer's report dated September 24, 2026.

All five resolutions proposed at the AGM were passed with significant majority support from the promoter group and public shareholders. The promoter and promoter group held 10,581,479 shares, casting votes on 10,552,063 shares, representing 99.72% of their holding.

Resolution Outcomes

The following table summarizes the voting results for key resolutions approved at the AGM:

Key Observations on Shareholder Participation

Public institutions holding 50,422 shares did not cast any votes during the e-voting process. In contrast, public non-institutional shareholders holding 4,520,732 shares voted on 226,524 shares, representing a participation rate of approximately 5.01% of their holding.

For the resolution regarding the re-appointment of Mrs. Parul Kunjbihari Shah as Whole Time Director, 39 votes were cast against the proposal by public non-institutional shareholders. Similarly, 77 votes were cast against the special resolution to alter the Articles of Association for the removal of the common seal.

Zodiac Energy Limited has declared the e-voting results for its 34th Annual General Meeting (AGM) held on September 23, 2026. All five resolutions proposed by the board were passed with significant shareholder support, confirming the final dividend and director re-appointment.

The virtual meeting, conducted via video conferencing, saw the adoption of audited standalone and consolidated financial statements for FY26. Managing Director Kunjbihari Shah outlined the company’s strategic shift toward becoming an integrated energy entity, highlighting expansions in Independent Power Producer (IPP) businesses and new entries into energy storage and transmission sectors.

Key resolutions passed

The board proposed and members approved several ordinary and special resolutions. The key items included the re-appointment of Parul Kunjbihari Shah as Whole Time Director and the alteration of the Articles of Association to remove the provision for a common seal. The voting data confirms unanimous or near-unanimous approval across all agenda items.

Voting pattern analysis

The voting results reveal a high concentration of promoter participation relative to public shareholders. Promoters and their group, holding 10,581,479 shares, voted on 99.72% of their holding in favor of all resolutions. In contrast, public non-institutional shareholders voted on only 5.01% of their total holding of 4,520,732 shares.

Despite the low turnout among public non-institutions, the resolutions passed comfortably. For the dividend declaration and financial statement adoption, there were zero votes against. In the re-appointment of Parul Kunjbihari Shah, only 39 votes were cast against out of 10,778,587 votes polled, representing 0.0004% opposition. Similarly, the special resolution regarding the common seal saw just 77 dissenting votes.

Governance and audit updates

The Statutory Auditor’s report for FY26 was noted to contain no qualifications or observations. However, the Secretarial Audit Report for the same period contained a qualification, which was read out along with management clarifications during the proceedings. The meeting was chaired by Kunjbihari Shah, with attendance from key managerial personnel including Chief Financial Officer Shefali Karar and Company Secretary Divya Joshi.

The scrutinizer’s report, submitted by SCS and Co. LLP, confirmed that remote e-voting commenced on September 20, 2026, and concluded on September 22, 2026, before the AGM itself. The results were finalized after considering votes cast during the meeting via the NSDL platform.