Please find enclosed herewith Scrutinizer's report in respect of 15th AGM of the Company..
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Vardhman Special Steels Limited held its 15th AGM on 24th September 2025 (10:00 AM to 10:28 AM), and all 10 resolutions were passed with overwhelming shareholder approval. Voting participation was high at 80.32% of paid-up share capital, representing 7,75,16,736 shares. Key ordinary resolutions included adoption of audited standalone and consolidated financial statements for FY25 (99.99% in favor), declaration of dividend (99.83% in favor), and re-appointment of directors Mrs. Suchita Jain and Mrs. Soumya Jain. A new Non-Executive Non-Independent Director, Mr. Koichiro Hayashida, was appointed with 99.99% support. The sole special resolution approved the interim use of funds raised from Aichi Steel Corporation via preferential allotment, also passed with 99.99% in favor. The scrutinizer, CS Ashwani Kumar Khanna, confirmed all resolutions were carried with the requisite majority.
The near-unanimous approval of all resolutions signals strong shareholder confidence in management. The approved dividend declaration rewards shareholders, while the green light to deploy Aichi Steel Corporation preferential funds gives the company flexibility to invest in growth initiatives. Minimal dissent (under 0.3% on every resolution) suggests no significant investor concerns.