Please find attached the certified true copy of the 86th AGM minutes conducted through VC/OAVM means.
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Modern Shares and Stockbrokers held its 86th AGM on September 23, 2025 via video conferencing. 35 shareholders attended, covering 10,75,075 equity shares. Three resolutions were passed with overwhelming majority: adoption of the FY25 audited financial statements (99.9994% in favour), re-appointment of Mrs. Roshan Advani Patheria as Director (99.9992% in favour), and appointment of Mr. Janak A. Pandya as Secretarial Auditor for five years from FY26 to FY30 (99.9994% in favour). The Chairperson reported FY25 profit of Rs. 16.35 Lakhs, sharply lower than Rs. 44.18 Lakhs in the previous year, mainly due to reduced trading profits and higher employee costs. The Board decided not to declare any dividend this year, preferring to wait and review next year's performance before resuming payouts.
For shareholders, the key takeaways are a significant drop in annual profit (down about 63% year-on-year), no dividend for FY25, and a forward-looking push to grow the brokerage business. The routine approvals carry no major governance surprises and the near-unanimous voting suggests no shareholder unrest, though the weak earnings may weigh on sentiment.