E voting results of 32 AGM of the company held on 30.09.2025 at 12.30 pm
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Piccadily Sugar held its 32nd AGM on September 30, 2025 via video conferencing, where all seven resolutions were passed with overwhelming shareholder approval of 99.99%. The resolutions covered adoption of FY25 audited financial statements, reappointment of Ms. Avneet Kaur (retiring by rotation), reappointment of Mr. Naveen Pawar as Wholetime Director, issuance of non-convertible redeemable preference shares (NCRPS) on private placement, approval of related party transactions, sale/transfer of the Bawal plant in Haryana, and appointment of secretarial auditors. Out of 78 members voting, 76 voted in favour (representing 1,74,40,596 shares) and only 2 shareholders with just 2 shares voted against. The voting was conducted via NSDL's remote e-voting platform and verified by scrutinizer Prince Chadha.
Strong near-unanimous approval gives the company clear shareholder authorisation to proceed with the NCRPS issuance, related party deals, and crucially the sale of its Bawal (Haryana) plant — a significant asset divestment that investors should monitor for valuation impact. Director reappointments ensure management continuity with no governance disruption.