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Kanel Industries Ltd held its Annual General Meeting on September 30, 2025, where 10 resolutions were put to vote. Total shareholders on record date were 30,948, but only about 4.97% of outstanding shares (~914,336 out of ~1.84 crore shares) participated in voting, indicating very low shareholder engagement. All 10 resolutions were passed, including adoption of audited financials, regularization of two independent directors (Mr. Bhavin Mehta and Ms. Jasmin Doshi), alteration of the main object clause, raising borrowing limits, creation of mortgage/charge on company assets, increasing thresholds for loans and investments, approving related party transactions, and re-appointing the secretarial auditor. Promoter group voted 100% in favor on all resolutions. Notably, two resolutions — alteration of the main object clause and approval to advance loans/give guarantees — saw 170,000 votes abstaining (about 48% of polled votes) but still passed with a thin margin.
All resolutions passed, giving the company board wider latitude on borrowings, asset charges, and related party transactions. However, extremely low voting participation (~5%) and significant abstentions on two key resolutions suggest limited retail shareholder interest or potential concerns about the company's expansion plans.