July 29, 2026
Transcript of 13th Annual General Meeting of the Company
TRANSCRIPT OF 13TH ANNUAL GENERAL MEETING OF
GREENLAM INDUSTRIES LIMITED
Date
July 29, 2026
Time
11:30 A.M. To 12:50 P.M. IST
Management Par(cid:415)cipants:
Directors and Key Managerial Personnel
Mr. Saurabh Mi(cid:425)al, Managing Director & CEO
Ms. Parul Mi(cid:425)al, Whole-(cid:415)me Director
Mr. Jalaj Ashwin Dani, Non-Execu(cid:415)ve Non-Independent Director (Chairman of the Risk
Management & ESG Commi(cid:425)ee)
Ms. Matangi Gowrishankar, Independent Director (Chairperson of Corporate Social
Responsibility Commi(cid:425)ee)
Mr. Rahul Chhabra, Independent Director (Chairperson of Stakeholders Rela(cid:415)onship
Commi(cid:425)ee)
Mr. Sandip Das, Independent Director (Chairperson of Nomina(cid:415)on, Remunera(cid:415)on &
Compensa(cid:415)on Commi(cid:425)ee)
Mr. Yogesh Kapur, Independent Director (Chairperson of Audit Commi(cid:425)ee)
Mr. Ashok Kumar Sharma, Chief Financial Officer
Mr. Prakash Kumar Biswal, Company Secretary & Senior Vice President – Legal
Invitees
Mr. Naveen Aggarwal, Partner of S.S. Kothari Mehta & Company LLP, Statutory Auditors
Mr. Ranjeet Pandey, Proprietor, Ranjeet Pandey & Associates, Prac(cid:415)cing Company
Secretaries, Secretarial Auditors
Mr. Dilip Kumar Sarawagi, Proprietor of DKS & Co., Scru(cid:415)nizer
Mr. Prakash Kumar Biswal
Very Good Morning to all of you.
Myself, Prakash Biswal, Company Secretary and Senior Vice
President – Legal of Greenlam Industries Limited, welcome you all to the 13th Annual General Mee(cid:415)ng of Greenlam Industries
Limited. The 13th Annual General Mee(cid:415)ng of the Company is being conducted through Video Conferencing in accordance with the relevant circulars issued by the Ministry of Corporate Affairs and the Securi(cid:415)es and Exchange Board of India.
To ensure smooth and seamless conduct of the mee(cid:415)ng, the audio of all the members will remain muted and their video will be turned off by default during the proceedings of the mee(cid:415)ng.
Should a member experience any technical issue during this
AGM, they can contact the helpline number given in the No(cid:415)ce
(Tel: 022- 49186000 / 49186175). Please note that the proceeding of the mee(cid:415)ng is being recorded.
I would now like to introduce our esteemed Board Members who are with us today.
Mr. Saurabh Mittal, Managing Director & CEO
Ms. Parul Mittal, Whole-time Director
Mr. Jalaj Ashwin Dani, Non-Executive Non-Independent
Director and Chairman of the Risk Management & ESG
Committee
Ms. Matangi Gowrishankar, Independent Director and
Chairperson of Corporate Social Responsibility Committee
Mr. Rahul Chhabra, Independent Director and Chairman of
Stakeholders Relationship Committee
Mr. Sandip Das, Independent Director and Chairman of
Nomination, Remuneration & Compensation Committee
Mr. Yogesh Kapur, Independent Director and Chairman of Audit
Committee
We are also joined by;
Mr. Ashok Kumar Sharma, Chief Financial Officer
Mr. Naveen Aggarwal, partner of S S Kothari Mehta & Company
LLP, Statutory Auditors
Mr. Ranjeet Pandey, Proprietor of Ranjeet Pandey & Associates,
Secretarial Auditor
Mr. Dilip Kumar Sarawagi, Proprietor of DKS & Co, Scrutinizer
I regret to inform you that our Chairman Shri Shiv Prakash Mi(cid:425)al
Ji is unable to a(cid:425)end today's Annual General Mee(cid:415)ng owing to unavoidable circumstances. He has conveyed his best wishes to all the stakeholders of the Company and requested for a leave of absence from the AGM.
As per Ar(cid:415)cle 140 and 141 of Ar(cid:415)cles of Associa(cid:415)on of the
Company, the Chairperson, if any, of the Board shall preside as
Chairperson at every general mee(cid:415)ng of the Company. Further, if there is no such chairperson, or if he is not present within fi(cid:332)een minutes a(cid:332)er the (cid:415)me appointed for holding the Mee(cid:415)ng or is unwilling to act as chairperson of the Mee(cid:415)ng, the Directors present shall elect one among themselves to be chairperson of the Mee(cid:415)ng.
Now, I request the Directors present in the mee(cid:415)ng to elect any one among themselves to be the Chairman of the Mee(cid:415)ng.
Mr. Yogesh Kapur proposed and Ms. Matangi Gowrishankar seconded appointment of Mr. Saurabh Mi(cid:425)al, Managing Director
& CEO of the Company as Chairman of this AGM.
I am pleased to announce that Mr. Saurabh Mi(cid:425)al, Managing
Director & CEO of the Company will chair the today’s AGM with unanimous consent of the Directors.
As per the a(cid:425)endance, more than 30 members are already present and therefore, the Mee(cid:415)ng is duly convened, cons(cid:415)tuted and is in order.
Ms. Shikha from MUFG In-(cid:415)me India Private Limited is the moderator of this mee(cid:415)ng. She will invite the shareholders who have pre-registered themselves as speakers, to express their views and to raise any queries, if any, a(cid:332)er the Chairman of the
AGM concludes his speech.
Now, I request Chairman of the AGM, (Shri Saurabh Mi(cid:425)al ji) to address the shareholders.
Mr. Saurabh Mittal
Good morning, Dear Shareholders,
At Greenlam, we believe that India stands out as a rare convergence of stability, scale and structural opportunity, driven by strong domestic consumption, favourable demographics, rapid urbanisation, infrastructure investments and economic reforms. With real GDP growth of 7.7% in FY26, India remains the world's fastest-growing major economy, supporting long- term demand growth.
These structural drivers continue to fuel demand for interior infrastructure across residential, commercial and institutional segments. As the shift towards organised and branded products accelerates, the wood panel and laminate industry is well positioned to benefit, creating significant growth opportunities for your Company.
While India remains a key growth engine, the global opportunity landscape continues to be equally compelling. Despite tariff disruptions, geopolitical volatility and heightened trade uncertainty, the global economy grew by 3.4% in 2025.
Urbanisation, renovation activity, growing adoption of modular furniture and increasing preference for sustainable interior materials continue to support demand across international markets.
Your Company built on its position as the world’s third largest laminates manufacturer, providing a one-stop solution for residential, industrial and exterior applications. Exports contribute nearly half of revenue across a global footprint of over 120 countries. Backed by robust international infrastructure and strategically located coastal manufacturing plants, Greenlam is well positioned to carve away market share from international companies by further deepening its distribution footprint in the international markets.
In a capital-intensive business marked by relatively steady market acceptance, there is a premium in managing the growth of the existing business and maturing a growing one. The performance of your Company during the last financial year represented a validation of these diverse capabilities: your
Company’s laminate business accounted for a sizable share of your Company’s revenues and profits while the newly launched businesses showed appreciable growth and are likely to scale from this point onwards.
This represents my optimism that even as the sector’s performance remained muted during the year under review, the foreseeable future appears promising.
I am pleased to apprise you that, during the Financial Year 2025-
26:
The Consolidated Net Revenue grew 18.6% and stood at Rs.
3,046.1 Crores against Rs. 2,569.3 Crores in FY25, despite geopolitical disruption and tariff uncertainty.
The Consolidated EBIDTA grew 21% to Rs. 334.2 crore compared to Rs. 276.1 crore in the previous year.
The Consolidated EBIDTA margin grew 30 basis points and stood at 11.0% against 10.7% in FY25.
The Consolidated PAT de-grew 18.1.% and stood at Rs. 56.0
Crores against Rs. 68.3 crores in FY25 primarily on account of higher operating costs, depreciation and interest in the chipboard business, which had its first full year of operation.
RoCE improved to 8.6% despite investments in new and expanded capacities that were yet to generate positive financial outcomes. RoCE of the Laminate Business stood at 39.9%.
Net debt as on March 31, 2026, stood at Rs. 941.2 crores as against Rs. 989.3 crores as on March 31, 2025.
Working capital cycle was maintained at 57 days of turnover equivalent.
Your Company’s receivables were 26 days of turnover equivalent in FY 26 as against 22 days in FY 25.
Total inventory was 92 days of turnover equivalent in FY 26 as against 94 days in FY 25.
Net cash and cash equivalent increased to Rs. 115.3 crore from
Rs 98.5 crore as of March 31, 2025.
Your Company’s revenues were broad-based across India and the international markets. During FY26, your Company’s pre- expansion business accounted for 87.6% of revenues, and the new businesses commissioned in the last couple of years accounted for 12.4%. Around 56.2% of the revenues was generated from within India; the rest was generated from international business. I believe that this performance represents the start of a multi-year growth curve as your
Company is rightly positioned to scale up its newly commissioned capacities and generate larger revenues.
Your Company strengthened its market position by capitalizing on the ongoing structural shift from unorganized to organized wood panel products, supported by disciplined pricing, an improved product mix, and stable gross margins. Our laminates business delivered growth ahead of industry trends, with EBITDA margins reaching approximately 17.2% during the strongest quarter of the year, surpassing our guided steady state level of
16%. The business also maintained its leadership position as
India’s largest laminate exporter for the sixteenth consecutive year, serving customers across more than 120 countries. Despite continued global trade disruptions arising from tariff uncertainties and uneven regional demand, Greenlam strengthened its international presence by stabilizing its newly established subsidiaries, expanding its office network, and enhancing warehouse infrastructure, thereby creating a stronger foundation for sustainable long-term growth.
We believe that this performance is credible when one considers the widening of our manufacturing presence to five units in five different locations, increased sales throughput, and the need to enter new categories and market spaces. Your Company protected its financial discipline and overall liquidity despite initial losses incurred in its new businesses. Working capital as a proportion of the total employed capital was 21.3% in FY26 against 26.6% in FY25, which clearly reflects working capital discipline while ramping up new businesses.
Over the last three financial years, your Company invested approximately Rs. 1,500 Crore, which represented a substantial proportion of total capital employed of your Company and it was deployed with the deliberateness that required large and irreversible commitments. We had to be right about the markets we were entering, the technologies we were adopting, and the teams we were building. All major greenfield and brownfield projects are now operational, and the foundations laid through this investment cycle are firmly in place. For FY 27, our focus has shifted from building capacity to maximizing its potential. With our recent investments substantially embedded into the business, we are now concentrating on driving utilisation, strengthening market presence, and translating these investments into sustained growth and profitability.
In January 2025, your Company commercialized a greenfield project under its subsidiary for manufacturing Chipboard in
Naidupeta, Andhra Pradesh. Capacity u(cid:415)lisa(cid:415)on moved from near-zero at incep(cid:415)on to approximately 49% by the fourth quarter of FY 2025-26 and generated annual revenue of Rs.
212.8 crore. Losses narrowed quarter on quarter. Market acceptance grew encouragingly – across quality, dimensional flexibility, and performance benchmarks. I am pleased to state that, within a single year of opera(cid:415)ons, Greenlam is now amongst the top chipboard brands in India by value. The Andhra
Pradesh government approved a special incen(cid:415)ve package comprising capital subsidy, employment crea(cid:415)on subsidy, electricity duty exemp(cid:415)on and power tariff concessions up to Rs.
352.82 Cr, a por(cid:415)on of which is con(cid:415)ngent upon your Company making further investment of approximately Rs. 250 Cr by March
2029 and mee(cid:415)ng s(cid:415)pulated condi(cid:415)ons.
During FY 26, your Company undertook a strategic simplifica(cid:415)on of its brand architecture, consolida(cid:415)ng its por(cid:414)olio from five brands to two, guided by the belief that clarity can be a powerful compe(cid:415)(cid:415)ve advantage. The Greenlam brand now carries our laminates, façade solu(cid:415)ons, Sturdo range, compact panels, and melamine chipboard. The Mikasa brand unifies what were previously five separate iden(cid:415)(cid:415)es - Mikasa Laminates
(reposi(cid:415)oned from NewMika), Mikasa Plywood (formerly
MikasaPly), Mikasa Decowood Veneer (formerly Decowood),
Mikasa Flooring, and Mikasa Doors. Mikasa, with its full por(cid:414)olio now in place, represents a poten(cid:415)al revenue approaching Rs.
1,000 Cr, or roughly one-fi(cid:332)h of group poten(cid:415)al revenues. The logic behind this consolida(cid:415)on was commercial as well as strategic.
Capacity u(cid:415)lisa(cid:415)on across the laminates business reached 86% - effec(cid:415)vely near-full intensity. To cater the growing demand in domes(cid:415)c and global markets, your Company has announced a brownfield expansion at its Naidupeta facility in Andhra Pradesh: two addi(cid:415)onal laminate press lines, expected to add 2 mn sheets and is expected to start commercial produc(cid:415)on in Q4 of FY27, and capable of genera(cid:415)ng approximately Rs. 450 Cr in incremental annual revenue.
I am pleased to inform you that, during FY26, your Company was honored by the Plas(cid:415)cs Export Promo(cid:415)on Council (PLEXCONCIL) as India’s largest exporter of laminates for 16 consecu(cid:415)ve years, reflec(cid:415)ng its global leadership and strong export capabili(cid:415)es.
Further, Greenlam became the first Indian brand to win
INTERZUM Award for High Product Quality 2025 by RED DOT for
Greenlam MFC – Aurix Collec(cid:415)on.
During FY 26, your Company con(cid:415)nued to priori(cid:415)ze employee well-being by fostering a healthy, inclusive and growth-oriented work environment. Your Company focused on strengthening role clarity, career pathways, learning opportuni(cid:415)es and collabora(cid:415)ve engagement ini(cid:415)a(cid:415)ves to improve employee experience and organisa(cid:415)onal commitment. Your Company implemented these efforts with policies suppor(cid:415)ng work-life balance and long-term employee sustainability.
During FY 26, an all-women team operated a manufacturing press at the Behror plant, marking a first for Greenlam and a notable advancement within the Indian wood panel manufacturing landscape. Beyond its opera(cid:415)onal significance, the ini(cid:415)a(cid:415)ve reflected our belief that opportunity should be shaped by capability, commitment and competence rather than conven(cid:415)onal assump(cid:415)ons, reinforcing our commitment.
At Greenlam, ESG is core to our opera(cid:415)ons. We believe that long- term value crea(cid:415)on is impossible without ecological stewardship. During FY26, we have set defini(cid:415)ve and (cid:415)me- bound targets for our environmental ini(cid:415)a(cid:415)ves: achieving Net
Zero Scope 1 and Scope 2 emissions at the manufacturing level by 2030, turning net water-posi(cid:415)ve across all factories by 2027, and ensuring zero waste to landfills by 2030. On the supply chain side, we expect to augment agroforestry planta(cid:415)on programmes to the extent of 50% of our chipboard and plywood requirements – an ini(cid:415)a(cid:415)ve that strengthens raw material security, promotes planta(cid:415)on-based wood sourcing and creates sustainable rural livelihoods in communi(cid:415)es around our manufacturing loca(cid:415)ons. The programme is now ac(cid:415)ve in loca(cid:415)ons proximate to our Manufacturing facili(cid:415)es in Andhra
Pradesh and Tamil Nadu.
Our commitment to sustainability extends beyond opera(cid:415)ons through focused CSR ini(cid:415)a(cid:415)ves that serve as an important touchpoint of our ESG agenda. Greenlam con(cid:415)nues to upli(cid:332) communi(cid:415)es around its manufacturing loca(cid:415)ons by driving meaningful ini(cid:415)a(cid:415)ves. Your Company’s CSR programmes focus on healthcare, educa(cid:415)on and environmental stewardship and these ini(cid:415)a(cid:415)ves posi(cid:415)vely impacted nearly 18,000 individuals in
FY26.
Digitalisation remains a key enabler of Greenlam's growth and operational excellence. As your Company expanded across products and geographies, it accelerated its digital transformation journey to build a more integrated, agile and data-driven organisation.
During FY 26, Greenlam strengthened enterprise-wide integration, expanded automation, enhanced cybersecurity and improved real-time business visibility through investments in platforms such as Salesforce CRM, Distributor Management
System and SAP integration. These initiatives have streamlined operations, improved decision-making, strengthened governance and created a scalable foundation for future growth, innovation and AI-enabled analytics.
A sound Balance Sheet is the quiet strength behind visible growth. All three relevant condi(cid:415)ons are being met. Revenues are growing. New businesses are scaling. Cash flows from our established laminate business remain strong and consistent. We repaid debt during FY 26 even as the last piece of the expansion was s(cid:415)ll in its ramp-up phase. That is a meaningful signal: the cash genera(cid:415)on capacity of the exis(cid:415)ng business is sufficient to service the expansion even before the new businesses reach their financial poten(cid:415)al.
The plywood business generated Rs. 165.6 Cr revenue in FY 26, growing from Rs. 122.6 Cr in FY 25. It remains loss-making - for the early years of entering a market where organised players are s(cid:415)ll establishing their creden(cid:415)als. What is encouraging is the direc(cid:415)on: revenues are growing, losses are narrowing, and your
Company is confident of reaching EBIDTA break-even in FY 2026-
27.
In the veneers, doors, and floors segments, your company con(cid:415)nued to strengthen trade partnerships and expand its product por(cid:414)olio with new collec(cid:415)ons.
The transformed Greenlam is present across a larger number of price points. Its enhanced sales has come without stretching its working capital discipline despite the addi(cid:415)on of new manufacturing facili(cid:415)es. This represents a valida(cid:415)on of the company’s brand health and posi(cid:415)oning.
Greenlam’s expanded por(cid:414)olio is the natural overlap between categories. We are among the very few - arguably the only –
Indian companies capable of serving these interconnected needs from our own factories, under our own brands, cer(cid:415)fied to global standards, with teams on the ground in more than 120 countries.
It represents years of sequen(cid:415)al investment in manufacturing, distribu(cid:415)on, and brand infrastructure that cannot be replicated quickly. In the last three years, we added subsidiaries in
Germany, Spain, Egypt and Bangladesh, established presence in
Romania, opened office in Saudi Arabia, and added warehouse infrastructure in Italy, Indonesia and Malaysia. The opera(cid:415)onalisa(cid:415)on of our Germany subsidiary was a milestone in
FY26. The global team now spans approximately 200 people across 22 offices and 15 subsidiaries. Taking all of this together, your Company is confident of growing revenues at 18 to 20% per annum from FY26, towards a projected Rs. 5,000 Cr within three to four years, accompanied by meaningful margins improvement as our newly commissioned capaci(cid:415)es scale and opera(cid:415)ng leverage asserts itself.
From a slightly longer-term perspec(cid:415)ve, we believe we have created robust growth pla(cid:414)orms. We sized our manufacturing capaci(cid:415)es in line with long-term demand forecasts. We created long-term infrastructure to grow with moderate addi(cid:415)onal expenditure.
Going ahead, your Company expects to deepen its governance, enhance capacity u(cid:415)lisa(cid:415)on and enhance revenues around desired margins that should improve capital efficiency and stakeholders’ value.
I must thank our employees, customers, distributors, vendors, lenders and shareholders for their trust and commitment. I am confident that your Company will flourish and achieve significant growth with your unwavering support.
I would like to disclose that, I am interested in the item number
3 of the AGM notice and accordingly for the transaction of the said agenda, I will not chair the meeting. Now the Company
Secretary can take up the agenda and other statutory formalities. Thank You.
Prakash Kumar Biswal
Thank you, Chairman Sir.
Now, the Members, who have already registered themselves as speaker, will be given opportunity to speak and raise queries, if any. The moderator will enable the speaker shareholders one by one serially to speak. If any audio/video failure is experienced at the shareholders’ end, then, the Moderator will invite the next shareholder. Any speaker shareholder who faces any technical issue during their turn, may be invited again once the other speaker shareholders complete their speech. To avoid repe(cid:415)(cid:415)on, all the queries from shareholders will be answered in one go.
Speaker shareholders are requested to keep their place well lightened, noise free and speak loudly through their devices. For the interest of (cid:415)me, all the Speaker shareholders are requested to confine their speech to the ma(cid:425)ers which are relevant to the agenda of the AGM or rela(cid:415)ng to opera(cid:415)onal and financial performance of the
Company. Speaker shareholders are also requested to limit their speech to 3 minutes maximum, preferably 2 minutes.
I request the Moderator to invite the speaker shareholder as per their allo(cid:425)ed sequence and all the speaker shareholders are requested to men(cid:415)on their name and place from where they have joined the mee(cid:415)ng before start of their speech.
Ms. Shikha
Thank you very much, Sir.
Now we will begin our ques(cid:415)on and answer session, we have first ques(cid:415)on from Mr. Lokesh Gupta, Sir you may ask your ques(cid:415)on now.
Mr. Lokesh Gupta
Namaskar Chairman Sir, main Delhi se Lokesh Gupta.
Chairman Sir, kya aap mujhe sun paa rahe hain? Aap sabhi
Board Members ka swagat karta hoon. Sir, Chairman Speech ho rahi thi jismein aapne vartaman aur bhavishya ke baare mein bataya. Uske baad sawal bachte nahin hain. Sawal hota bhi toh bharose ka hai. Aap par bharosa hai ki aapne jo bhi nirnay liye honge, woh Company ke hit ke liye honge aur aage bhi honge.
Sir, mujhe 2 ya 3 cheezen jaanani hain. Sir, West Asia mein jo problems chal rahi hain aur supply chain ki jo sthi(cid:415) hai, kya iska koi impact hamari Company par bhi aaya hai? Raw material cost badhne ki sthi(cid:415) mein kya hum ise pass on karne ki posi(cid:415)on mein hain, taaki hamare margins intact rahein? Hum margins badhane aur market capitaliza(cid:415)on badhane ke liye kya kar rahe hain?
Sir, main zyada samay nahin loonga. Humein saal mein ek baar milne ka avsar milta hai. Bahut si jankari ke liye hum
Company Secretary Sir ke paas jaate hain, unki team ke paas baar-baar jaate hain. Humein well-(cid:415)med reply milta hai, iske liye main unka bahut-bahut dhanyavaad doonga.
Ek nivedan aur hai aapse ki AGM isi portal par kijiye. PAN
India shareholders aapko sun paate hain aur aapse jud paate hain, kyunki hum apne sector ke leaders hain Sir.
Ant mein, main Company ke sukhad bhavishya ke liye shubhkamnayein deta hoon.
Mr. Saurabh Mittal
Lokesh ji namaskar, aapke jo ques(cid:415)on the West Asia ke baare mein toh raw material cost badhi hai West Asia ke disturbance ke karan aur Company ne March aur April mein pricing increase accordingly saare products mein,
Laminates mein, Plywood mein, Par(cid:415)cle Boards mein,
Veneers mein. Jitni cost badhi hai lagbhag saare raw material cost pass on kar diye hain. Uske baad kuch correc(cid:415)on bhi hua tha and then phir se kuch pricing badhi hai. Lagbhag saare bazaar mein humne pass on kar di hai.
Kuch supply chain bhi disturb hui hai, in terms of containers availability, sailing ka (cid:415)me, vessel ki availability. Cost bhi badhi hai freight rate dono inward and outward mein bhi.
Uski bhi hum day to day ac(cid:415)on le rahe hain. Uske vishay mein bhi lagbhag cheezein control mein hain. Apne efforts lene ke baad bhi, despite problems, business apna grow karta jaaye aur market share badhe, iske liye lagataar effort ho(cid:415) hai.
Category mein 18 se 20% growth ki target lekar chal rahi hai
Company. Last year bhi humne 18% grow kiya hai, toh naye products ko mila kar reasonably confident hain ki 18% se
20% grow kar payenge, jabki industry, jo hamari samajh hai,
6% se 7% par grow kar rahi hai. Yeh growth rate agar hum maintain kar paaye toh definitely kuch market share hum win karte jaayenge over the next few years.
Mr. Prakash Kumar Biswal
Thankyou Chairman sir, for answering the query, I propose in the interest of time that we can answer all the questions in one go in the end.
Mr. Saurabh Mittal
Thankyou
Mr. Prakash Kumar Biswal
Thankyou sir.
Ms. Shikha
Thankyou sir, now I invite our 2nd speaker Mr. Himanshu Trivedi,
Sir you may ask your question now.
Mr. Himanshu Trivedi
Am i audible, can you hear me Mam?
Ms. Shikha
Yes Sir
Mr. Himanshu Trivedi
Good morning to all of you. Respected Chairman Mr. Shiv Mittal,
CEO Mr. Saurabh Mittal, other members of the Board of
Directors present, and Company Secretary Mr. Prakash Kumar
Biswal. I am Himanshu Trivedi from Vadodara, Gujarat.
I thank the Company Secretary for sending the AGM Notice well in advance. The soft copy was comprehensive, informative, easy to follow and easy to understand. The Annual Report and AGM
Notice adequately cover corporate governance and other relevant parameters.
I do not have much to discuss as I support all the agenda items.
I had already shared my questions through email well in advance of the AGM, and therefore there is no need to repeat them.
However, I have a few questions as a speaker shareholder. What is the expected profit trajectory for the coming financial year?
Who is the Company’s strongest competitor at present, and what is the Company’s market share vis-à-vis its competitors?
I wish the Company good luck and a bright future in the coming financial year. If possible, kindly share a hard copy of the AGM
Notice. Also, please remember the speaker shareholders during the festival season.
Thank you and have a good day.
Ms. Shikha
Thank you sir, now we will invite our 3rd speaker Mr. Ram
Chandra Singh, you may ask your question?
Mr. Ram Chandra Singh
Hello, meri awaaz aa rahi hai? Ok, main Ram Chandra, Delhi se.
Aap sabhi ko mera namaskar. Main yeh jaanana chahta hoon ki shareholder value aur investor confidence ko badhane ke liye management ka next 5 years ke liye kya plan hai. Baaki in sabhi ke saath main aap sabhi ka dhanyavaad karta hoon aur Company ke achhe bhavishya ki kaamna karta hoon. Thank you Sir.
Ms. Shikha
Thank you sir, now i will invite our next speaker Mr. Ankur
Chanda, sir you may ask your question now.
Mr. Ankur Chanda
I am audible, ok good morning to everyone. Sir, Greenlam ek bahut bada naam hai lekin phir bhi hamare returns bahut bahut kam hain jis hisab se hamara naam hai. Baaki jo hamare CS hain, matlab jaise maine aapko pehle bhi kaha tha ki yeh Company ke saath hain tab tak Company grow nahi ho payegi. Main bahut time se dekh raha hoon kyunki yeh shareholder ko dekh kar khush nahi hote. Meeting se pehle inhe shareholders achhe lagte hain aur meeting ke baad wahi shareholders inko ese lagte hain ki yeh mere paas kyon aa rahe hain, kyon baat karna chahte hain, kyon mail kar rahe hain. Kuch bhi jis tarah ki inki soch hai, iske baare mein Mittal ji batayein. Aap badhiya kaam kar rahe hain lekin ek soch ki wajah se sab kharab ho raha hai. Phir mere kuch questions bhi hain, jo main kahunga.
Reporting revenue growth and expanding manufacturing capacity, return ratio and profitability remain under pressure. In several new businesses, by when do you expect these investments to deliver returns above the cost of capital and what accountability will management take if targets are not achieved by us. The Company continues to invest heavily in capacity expansion while taking execution risk. What safeguards are in place to ensure these large capital expenditures do not become underutilized assets that destroy shareholder value?
And next is, exports contribute significantly to revenue yet global demand remains uncertain. What is management's contingency plan if export markets weaken further while shareholders have to bear the cost of aggressive expansion?
Management frequently highlights sustainability and ESG achievements. Can you quantify how these initiatives have improved profitability, cash flow or shareholder returns rather than simply enhancing the Company's public image? Toh Sir, in baaton ke baare mein kuch batayega. Aur jo maine kaha hai
Mittal ji, unhe kahiye ki uspe gaur kijiye. Woh apni soch badale ya Company badal le toh achha rahega, kyunki inse main 2-3 baar mila hoon. Yeh is tarah se mil rahe hote hain ki marne ko aa rahe ho nahi toh Greenlam Industries Limited achhi Company hote hue bhi shareholders ko return nahi degi.
Mr. Saurabh Mittal
Aapki baat sun chuke hain Ankur ji, woh baat aap keh chuke ho.
Aapke baaki points note kar liye hain. Jab jawab denge toh saare jawab de denge.
Mr. Prakash Kumar Biswal
Thankyou ankur ji
Ms. Shikha
Thank you sir, now i will invite our next speaker Mr. Parveen
Kumar, sir you may ask your question now.
Mr. Parveen Kumar
Am I audible, it's 12:02 so a very good afternoon to Honorable
Chairperson and Respected Board of Directors and my fellow shareholders. Myself Parveen Kumar joining this meeting from
New Delhi.
In this financial year, this is our first interaction with the management, so I wish the entire management team, each and every dedicated employee of the Company, a happy, healthy and prosperous future.
Coming down to my observations, Sir, I am in the Company for years now and I have Mittal Sir the deepest and deepest respect for you. If you see last year under review, there were so many concerns worldwide on many fronts and the Company is growing and spreading its wings and becoming a true multinational
Company. It is your dedication, your belief and your strong conviction to create sustainable value creation for retail investors like me. Double digit growth, you have proven your strength. God bless you with all the positivity, with all the health and happiness.
Along with a professional team and dedicated employees, you will take our Company to newer heights in future, Sir. As far as the questions are concerned, Sir, you have proven yourself.
Please enlighten us on CSR activities, how you build India in a very very constructive way. So thankful to you.
And one more thing which I would love to share is that we retail investors are the pillar of our listed entity and communication between the Company and the retail investors is the ultimate test of the listed entity. In this regard, I would like to thank our
Respected Company Secretary. With his honest approach, mark my words, I have experienced it myself over the years, Sir. I just send my queries or updates to the CS Department and they are promptly replied to. It truly signifies the strength of our CS team.
They are a fantabulous team and they doubly assure my investment in the Company and they are the biggest asset.
One or two times I visited them, they welcomed us with open arms, excellent hospitality, and they asked, "At your service." I mean that's something, the standard which you have set in the industry is so high. It is your direction that each and every retail investor will be respected. That is what I experienced myself, which I share with the Board. Mark my words.
Thank you very much for this opportunity. Wish you all the luck and all the best.
Ms. Shikha
Thank you sir, now i invite our next speaker Mr. Parmod Kumar jain, sir you may ask your question now.
Mr. Parmod Kumar jain
Namaskar, aap mujhe sun paa rahe hain? Namaskar, main
Parmod Kumar, Delhi se. Chairman Sir, Board of Directors aur
Secretarial Department ka bahut dhanyavaad karta hoon ki is
AGM mein aapne mujhe bolne ka mauka diya.
Aaj ke prastavit sabhi resolutions ka main samarthan karta hoon.
Sir, aapne apni aarambhik speech mein Company ke vartaman aur bhavishya ke baare mein vistaar se bata diya hai. Aapki leadership mein hamari Company din duguni raat chauguni tarakki karegi, aisi main mangal kaamna karta hoon.
Phir bhi main 1-2 questions puchna chahta hoon. Is Financial
Year 2025-26 mein kul rajsva 3046 crore paar kar gaya hai, phir naye verticals mein ghaate aur kuch byaaj lagat ke karan shuddh laabh par dabaav raha hai. Management is munafe ko wapas sudharne ke liye kya thos kadam utha raha hai?
Second, Vitt Varsh 2026 mein Plywood sector mein 28 crore aur
Panel segment ko 86 crore ka ghaata hua hai. Yeh dono segments kab tak break-even par aa jayenge aur munafe mein yogdaan dena shuru kar denge?
Aur Sir, main apne Company Secretary Sahab ki jitni taarif karoon kam hai. Main itni companies mein shareholder hoon, lekin aise Company Secretary nahi dekhe jaise aapne rakhe hain.
Mere se poorv vakta bahut kuch inke baare mein keh rahe the.
Shayad woh token money ke liye aisa kar rahe honge, kyunki
Delhi mein aisa trend chal gaya hai ki logon ko meeting mein speaker banna hai aur kuch demand karni hoti hai. Lekin hamare
Company Secretary Sahab in cheezon mein vishwas nahi rakhte, kisi ko kuch nahi dete. Isliye woh inki alochana karte hain.
Aur aapki leadership mein hamari Company khoob tarakki kare.
Company Secretary Sahab, aapka bahut bahut dhanyavaad.Jai
Jinender.
Ms. Shikha
Thank you sir, now i invite our next speaker Mr. Gaurav Kumar
Singh, sir you may ask your question now.
Mr. Gaurav Kumar Singh
Hello, I would like to know how the Board plans to maximize shareholder value over the next five years. And my second question is, what steps have been taken to reduce carbon footprint? Is there any plan to expand into new Indian states or international markets over the next few years?
As far as the agenda of this AGM is concerned, I support all the resolutions along with all my family members. I would also like to thank our CFO, Company Secretary and his entire Secretarial team for maintaining high standards of corporate governance.
In the end, I wish a bright future for the Company and good health to all of you.
Thank you, Sir.
Ms. Shikha
Thank you sir, now i invite our next speaker Mr. Peeyush Kumar
Singh, sir you may ask your question now.
Mr. Peeyush Kumar Singh
Hello,
Ms. Shikha
Yes sir
Mr. Peeyush Kumar Singh
Hello, okay, thank you so much. Myself Peeyush from Delhi.Sir,
my question is
what digital technologies or AI-driven initiatives are being implemented to improve profitability? And with this, I thank the Management and the Company Secretary for this opportunity. Thank you, Sir.
Ms. Shikha
Thank you sir, now i invite our next speaker Mr. Manjit Singh, sir you may ask your question now.
Mr. Manjit Singh
Am I audible? Greenlam Industries ki Management Team,
Secretarial Team aur mere co-shareholders, main sabhi ka swagat karta hoon.
World mein hum third number par hain aur Asia mein hum No.
1 par hain. Aur usmein ek step hum aur chal rahe hain aur
Andhra Pradesh ke Navadapati mein 1147 crore ka invest hum karne ja rahe hain. Uske baad hamari rank worldwide kuch change hogi. Thoda iske baare mein batayiye. Aur jo yeh investment hogi, iske liye poonji ka kaise intezaam kiya hai? Kya aane wale time par rights issue layenge aap? Thoda aap is baare mein batayenge toh hume aur jaankari milegi. Aur isi tarah ke results pesh karein. Hamare plants par renewable energy ke kya intezaam hain aur water harvesting ka humne kis tarah se plan kar rakha hai? Abhi jis tarah ki kuch problem hume Rajasthan ke andar aayi, Barot ke andar, usmein kya karan rahe? Jab balance sheet hamari itni achhi hai, corporate governance hamara achha hai, toh yeh kya pareshaniyan hain jo growth mein archan karti hain? Thoda aap is baare mein batayiye. Narazgi chal rahi hai, communication gap hai. Koi IT ka programme aap rakhiye shareholders ka. Paas baith kar dooriyan khatam hoti hain. Aisi koi aapki yojana ho toh uska swagat karenge. Speaker shareholders ke liye agar aap koi festival ke time high tea ka programme rakhein aur aap humse milein, toh hum jo Asia mein
No. 1 par aur World mein No. 3 par hain, uski mubarakbaad bhi hum rubaroo hokar dena chahenge.
Aaj ka samay jo hume sazaa kar raha hai, yeh aane wale time mein hume majboot karega. Yehi asha karta hoon, aisi hum
Bhagwan se prarthana karte hain. Secretarial Department ne jis tarah ke intezaam kiye hain aur hume aapse rubaroo karaya, uske liye bahut dhanyavaad.
Thank you, Management Team, thank you Secretarial Team.
Have a nice day.
Ms. Shikha
Thank you sir, now i invite our next speaker Mr. SANTOSH
BHUTANI, sir you may ask your question now.
Ms. Santosh Bhutani
Can you hear me? Respected Chairman Sir, Board of Directors,
Company Secretary Team and all my fellow shareholders. I am
Santosh, joint holder with Mr. Mahinder Pal Bhutani, joining from Delhi.
Sir, congratulations to the entire Greenlam team for the outstanding performance. Greenlam has truly become a global brand with Indian roots. Sir, Greenlam's focus on ESG, expansion and sports is commendable. I have full faith that the Company will continue to deliver value and growth for shareholders.
Sir, I would like to express my sincere gratitude to the CS Team and RTA. Both are investor-friendly. Thanks for the call reminders before the meetings, calls and serial numbers allotted for speaking.
Sir, I have already submitted my detailed questions by email. I request you to kindly place them before the Chairperson during the answer session.
Thank you, Sir.
Ms. Shikha
Thank you maam, now i invite our next speaker Mr. Mahendra
Pal BHUTANI, sir you may ask your question now.
Mr. M.P. Bhutani
Namaskar sir, Board of directors, companies team, and my fellow shareholder. Mahender Pal Buhani joining this meeting from Delhi, first of all, heartiest congratulations to the entire
Greenlam team for making Greenlam a true green brand and a global leader in the decorative laminates and engineered wood, the way the company has focused on sustainability green manufacturing and export growth is a truly inspiring. Greenlam is not just making products, you are making a greener future for
India. Sir, I must especially the CS team investor services and
RTA for being extremely investor friendly. Who remind us the today meeting and send the this link informed. Sir, I had already submitted my questions by email. May you place questions for your goodself during the meeting.
I have full faith under the leadership. Thrill them together and I may God bless you and feel all your wishes and keep you all healthy. Happy and safe and your loved one. Thanks you for time and consideration and today is gurupurnima, bhout bhout badhai, kyuki manzile unhi ko milti hai jinke iraado mai jaan hoti hai jaise humare Saurabh mittal ji hai jo irrada rahkte hai jo pankho se nhi buland hoslo se uraan baarte hai entire team bhout ache se uraan de rahi hai, pehchaan de rahi hai humare jo bridge hai company secretary mohodye hume koi dikat nhi aati hai hume garv hota hai ki aise company secretary hume sabak lena chahiye, kis tarah se humari CS team kaam karti hai, inform karti h, serial number btati hai, koi link na ho vo btati hai, in sabdo ke sath the dil se pure team ko subkaamnaye aaji ki or aane vale samay ki.
Ms. Shikha
Thank you sir, i now invite our last speaker Mr. Ajay Kumar Jain, sir you may ask your question now.
Ms. Shikha
Kindly unmute yourself.
Mr. Ajay Kumar Jain
Namashkaar Chairman Sir, main Delhi se Ajay Kumar Jain,
Company ka shareholder bol raha tha. Aapne apni speech itni vistaar se batayi ki Company kahan khadi hai. Sabse achhi baat, last year hume AGM mein early AGM karne ka aashwasan diya tha aur aapne July mein AGM kar di. Yeh good corporate governance ka nateeja hai. Aapne shareholders ki baat ko rakha.
Kuch logon ne kaha profit kam hai, lekin meri Company ne future ko dhyan mein rakha hai. Jo expansion ke programmes rakhe hain, asli nateeja aayega toh jahan-jahan hum No. 3 hain, wahan
No. 1 bhi ho jayenge aur worldwide bhi ho jayenge. Aur ek sabse achhi baat hai, Pradhan Mantri ka swadeshi ka naara hai. Meri
Company bahar jaakar unke vicharon ko aage badha rahi hai.
Iske liye bhi main aapko shubhkaamnaye deta hoon.
Aur vyaktigat roop se aapki performance ko dekhte hue, mere vyaktigat vichaar management ke liye aur aapke liye yeh hain ki abhi toh asli udaan baaki hai, Company ka imtehaan baaki hai, abhi toh laangh hai, samundar poora, aasmaan baaki hai.
Greenlam, Greenlam hi hai. CS Team ne itna achha karya kiya hai
Sir. Shikayat toh main bhi kar doon Sir ki Saurabh Sir ne achha nahi karke dikhaya, CS Team ne itna achha karke dikhaya ki iski bhaavna mujhe kal vyaktigat roop se mehsoos hui. Mujhe koi technical fault aa gaya tha aur unhone vyaktigat roop se, CS jaise adhikari ne, isko solve kiya. Yeh aapke disha-nirdesh hain jinhone shareholders ko family members ki tarah treat kiya. Aur
Sir, sabse achhi baat hai ki host video quality bahut achhi aa rahi hai. Aisa lag raha hai ki main bhi aapke board room mein baitha hoon. Ek aisa lunch session yaadgaar raha. Iske liye main aapko dhanyavaad deta hoon. Bhagwan aapko tarakki de. Aap uchaiyon mein badhte rahein, aap kamate rahein aur hum uska laabh uthate rahein.
Jai Hind.
Mr. Saurabh Mittal
Any other more question Prakash.
Ms. Shikha
No, other speakers joined the event sir so I handover to you.
Mr. Prakash Kumar Biswal
Charu Juneja not joined.
Mr. Prakash Kumar Biswal
Thank you so much all the speaker shareholders for your queries, sugges(cid:415)ons and guidance.
Before we answer the shareholders’ query, I would like to inform that;
The Financial Statements for the financial year ended
March 31, 2026 including the Consolidated Financial
Statements for the said financial year, and the Reports of the Board of Directors and the Auditors’ Report thereon, the Register of Directors and Key Managerial Personnel and their shareholding maintained under Sec(cid:415)on 170 and the
Register of Contracts or arrangements in which directors are interested as maintained under Sec(cid:415)on 189(1) of the
Companies Act, 2013 along with the Secretarial Auditors’
Report and other relevant documents are available either on the website of the Company or electronically for inspec(cid:415)on by the members throughout the mee(cid:415)ng.”
The Notice convening the meeting has been with you. With your permission, I shall take the same as read.
There is no qualifica(cid:415)on, observa(cid:415)on, comment or other remarks on financial transac(cid:415)ons or ma(cid:425)ers, which have any adverse effect on the func(cid:415)oning of the company, in the auditor’s report issued by Statutory Auditors of the
Company, S S Kothari Mehta and Company LLP and also there is no qualifica(cid:415)on, observa(cid:415)on, comment or other remarks in the report issued by the Secretarial Auditor of the Company, Ranjeet Pandey & Associates. Therefore, it is not required to read the said Auditors’ report in annual general mee(cid:415)ng.
As already informed, the Mee(cid:415)ng is being conducted through Video Conferencing and the Company provided remote e-vo(cid:415)ng facility to all the members to enable them to cast their votes electronically in respect of all the businesses to be transacted at the 13thAnnual General
Mee(cid:415)ng in accordance with the provisions of Sec(cid:415)on 108 and 109 of the Companies Act, 2013 read with Rule 20 of the Companies (Management and Administra(cid:415)on) Rules,
2014 and pursuant to Regula(cid:415)on 44 of SEBI (Lis(cid:415)ng
Obliga(cid:415)ons and Disclosure Requirements) Regula(cid:415)ons,
2015. The remote e-vo(cid:415)ng facility was kept open from
09.00 a.m. of July 26, 2026 to 5.00 p.m. of July 28, 2026.
In line with the provisions of Clause 7.1 of SS-2 on General
Mee(cid:415)ngs, proposing and seconding of the Resolu(cid:415)ons is not required as remote e-vo(cid:415)ng was commenced before the commencement of the Mee(cid:415)ng.
Further, as per Sec(cid:415)on 107 and Sec(cid:415)on 108 of the
Companies Act, 2013 read with the relevant MCA Circulars, there will be no show of hands at the Annual General
Mee(cid:415)ng. Therefore, in order to enable the members present at the mee(cid:415)ng and who has not yet availed the facility of remote e-vo(cid:415)ng, to cast their votes, an electronic vo(cid:415)ng facility at the AGM has been arranged and vo(cid:415)ng will be taken in respect of all the businesses contained in the no(cid:415)ce.
Mr. Dilip Kumar Sarawagi, Prac(cid:415)cing Company Secretary has been appointed as the Scru(cid:415)nizer, by the Board of
Directors for scru(cid:415)nizing the remote e-vo(cid:415)ng and the poll process through e-vo(cid:415)ng and to give report thereon in the prescribed manner.
Now, I request Chairman Sir to respond to the queries raised by the Shareholders.
Mr. Saurabh Mittal
Thank you, Prakash, and thank you all the speakers. Aapke kaafi saare ques(cid:415)ons the jo is baar Integrated Annual
Report mein banaye hai, sab details mein hai, details of
CSR, kyu investments company ne kiya hai, kya future hai, jaisa maine apni speech mein bhi kaha ki next 3, 4 saal mein hum target kar rahi hai lagbhag 5000 crore ki revenue company kar paaye. Jab yeh hogi toh, kharche kam badhenge aur profitability aayegi, aur profitability se shareholder value aayegi. Lagbhag saare points humne speech mein Annual Report mein cover kiye the hai. So,
Ashok ji, if you've made any specific points/observa(cid:415)ons which you would like to respond to on any ques(cid:415)ons of finance and accounts and all that.
Mr. Ashok Kumar Sharma
There was one ques(cid:415)on in terms of compe(cid:415)tor, the market share in the interna(cid:415)onal market, since we are presen(cid:415)ng number of interna(cid:415)onal markets, so this market share will keep varying in this individual market. The five year plan, Chairman sir already in(cid:415)mated that in next 3-4 we plan to achieve Rs. 5000 Crore in terms of new businesses return below of cost of capital, we believe that going forward as and when these new businesses will achieve the capacity enhancement, then the return will increase and this will help the overall company and the shareholders. In the export market weakness there was one ques(cid:415)on, so since we have a presence in more than
100 market overseas which in a way guarantee that one market impact is nega(cid:415)ve by the other market we can con(cid:415)nue our growth journey by focusing on other markets.
In terms of losses in new business, we are hopeful that going forward this new business will generate return because loss in chipboard business or in ply business is coming down and we are very hopeful that very soon we will be breaking even and this business also will generate the posi(cid:415)ve returns in terms of that. There was one ques(cid:415)on in terms of how we have funded the investment in Naidupeta. This was funded by a, by a healthy mix of debt and internal accrual. In terms of ques(cid:415)on on renewable energy ini(cid:415)a(cid:415)ve (cid:415)ll FY 25 we were having 1 mW at one of our plant. In FY 26 we have taken major ini(cid:415)a(cid:415)ve and added close to 10 mW across the plants and in this year also we will be adding close to 7-8 mW and our total renewable energy por(cid:414)olio will be close to around 18-19 mW by the end of this year, which will benefit company in terms of reducing the carbon footprint as well as reducing the energy cost in terms of that. These were the major ques(cid:415)ons as such from this.
Mr. Saurabh Mittal
Prakash, Santosh ji and mahender ji ke emails aayi hui hai aapke pass hai unke ques(cid:415)ons.
Mr. Prakash Kumar Biswal
Yes sir. I received emails yesterday only. I think there are few queries rela(cid:415)ng to ESG roadmaps and digital transforma(cid:415)on and automa(cid:415)on. I think these aspects are already covered in your ini(cid:415)al speech. There was an email from Ms. Charu Juneja, registered speaker but didn't join today. So, there are 2 queries to read out in the mee(cid:415)ng sir,
I think, their query is digital and D2C strategy. What is the company's roadmap to leverage the digital pla(cid:414)orm and
D2C channels to build stronger brand recall and improve margins directly with end consumers, that is ques(cid:415)on number 1st ques(cid:415)on, 2nd ques(cid:415)on on global expansion.
Beyond tradi(cid:415)onal exports, what specific strategies is
Greenlam implemen(cid:415)ng to establish Greenlam as a household name in the key interes(cid:415)ng markets like USA,
Europe and middle East? So, request if you can answer.
Mr. Saurabh Mittal
I take the 2nd one first on the global expansion, so our intension is not established as household name in USA,
Europe and middle east, so we are working with professional consumers, with architrects, designers, influencers not directly with the consumers because in those markets buying pa(cid:425)erns are different so we are not going on the path of household name in the markets more of B2B working with professional users and influencers not with end customers. D2C and digital again, so we are not looking at selling online our products because our products need to be used in coordina(cid:415)on with a surface or a panel and we are in a way of supplying par(cid:415)ally we are supplying boards and sheets and not a finished product and we have a large channel in India about 40000 distributors. So, our goal to market to the consumer is through the channel, through the distributors while we build demand, you know, with the end consumers through digital pla(cid:414)orms and through other ac(cid:415)vi(cid:415)es we do. On digital pla(cid:414)orms, we are quite ac(cid:415)ve on the digital marke(cid:415)ng and digital ini(cid:415)a(cid:415)ves.
So that's broadly the direc(cid:415)on we follow on the on the digital part of the business.
Mr. Prakash Kumar Biswal
Thank you Chairman Sir and CFO Sir for elaborately covering all relevant ques(cid:415)ons and answering them appropriately.
Now, with the permission of Chairman Sir, I will proceed with the following businesses as set out in the No(cid:415)ce convening the 13th Annual General Mee(cid:415)ng for considera(cid:415)on and approval of members.”
There are total 5 businesses in the notice. Item no. 1, 2, 3 and 4 are ordinary businesses and Item no. 5 is a special business.
Ordinary Businesses
1. The first item of business relates to adoption of the Audited
Standalone Financial Statements of the Company for the financial year ended March 31, 2026, the Audited
Consolidated Financial Statements of the Company for the said financial year and the Reports of the Board of Directors and Auditors thereon. The objective of this item is to comply with the requirements of the Companies Act, 2013.
2. The Second item of business relates to declaration of final dividend of Re. 0.40 per equity shares of Re. 1 each of the
Company for the financial year ended March 31, 2026. The objective of this item is to declare final dividend for the financial year 2025-26.
As Chairman of the AGM is interested in agenda no. 3 of the
No(cid:415)ce, with consent of all the Members present, I request
Yogesh Kapur Sir, Independent Director of the Company and
Chairman of the Audit Commi(cid:425)ee, to Chair the Mee(cid:415)ng for the Agenda No. 3.
3. The Third item of business relates to re-appointment of Ms.
Parul Mittal (DIN: 00348783) as a Director of the Company, who retires by rotation. The objective of this item is to comply with the requirements of Articles of Association of the Company and the Companies Act, 2013.
Now, I request Sri Saurabh Mittal ji to preside over the meeting for rest of the agenda.
4. The Fourth item of business relates to re-appointment of
Mr. Jalaj Ashwin Dani (DIN: 00019080) as a Director of the
Company, who retires by rotation. The objective of this item is to comply with the requirements of Articles of Association of the Company and the Companies Act, 2013.
Special Business
5. The Fifth item of business relates to re-appointment of Mr.
Yogesh Kapur (DIN 00070038) as an Independent Director of the Company for second term of 5 years. The objective of this item is to comply with the requirements of the
Companies Act, 2013 and SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015.
Now, I would like to inform that, E-vo(cid:415)ng facility for vo(cid:415)ng at the 13th AGM is open for the members present at the mee(cid:415)ng and will also remain open for 15 minutes a(cid:332)er conclusion of the Mee(cid:415)ng.
The results of the e-voting and remote e-voting will be announced on receipt of the scrutinizer’s report and the same will be placed on the Company’s website and will also be sent to the Stock Exchanges. Further, the transcript of the AGM shall also be uploaded on the website of the
Company.
As there is no other agenda for this mee(cid:415)ng, I would like to take this opportunity to convey hearty thanks to Chairman of the AGM Mr. Saurabh Mi(cid:425)al for sparing his valuable (cid:415)me to conduct the 13th AGM. I would also like to thank Mr.
Yogesh Kapur for chairing the mee(cid:415)ng for the agenda No. 3 for which Chairman of the AGM was interested. I would also like to thank all the directors Parul Ma’am, Matangi Ma’am,
Jalal Dani Sir, Sandip Sir, Rahul Chhabra Sir, our CFO- Ashok
Sir, our statutory auditor (Naveen Agarwal Ji), our secretarial auditor (Ranjeet Pandey Ji), our scru(cid:415)nizer (Dilip Sarawagi
Ji) and all the shareholders for their par(cid:415)cipa(cid:415)on.
I would also like to thank our RTA team and Greenlam
Secretarial team for their me(cid:415)culous work ensuring seamless conduct of AGM.
Thank you all once again.
Now, I request Chairman Sir to declare the formal closure of this 13th AGM.
Mr. Saurabh Mi(cid:425)al: Thankyou Prakash, the 13th Annual General Mee(cid:415)ng is now concluded. Thank you.
Ms. Shikha
Thank you chairman sir, and all the panellist members for conduc(cid:415)ng this manner. The mee(cid:415)ng is concluded now.
Thank you.
Mr. Prakash Kumar Biswal
Thank you.