Jindal SAW Limited has released the minutes of its 41st Annual General Meeting (AGM), held virtually on May 29, 2026. The meeting covered adoption of financial statements, dividend declaration, board appointments, continuation of directorships, and approval of material related party transactions with entities like JWIL Infra Limited, JSW Steel Limited, and Jindal Steel Limited. The company also addressed its financial year 2025-26 performance, noting disruptions and strategic investments.
Jindal SAW Ltd. Concludes 41st Annual General Meeting
Jindal SAW Limited officially documented the proceedings of its 41st Annual General Meeting (AGM), which convened virtually on Friday, May 29, 2026. The meeting commenced at 11:30 a.m. and concluded at 01:15 p.m., facilitating broad shareholder participation through video conferencing (VC) and other audio-visual means (OAVM).
Key Resolutions and Business Conducted
The AGM addressed several critical business items, including:
- Adoption of Financial Statements: The audited standalone and consolidated financial statements for the financial year ended March 31, 2026, along with the Directors’ and Auditors’ reports, were approved.
- Dividend Declaration: A dividend of ₹2/- per equity share (face value Re. 1/-) was declared for the financial year ended March 31, 2026.
- Board Appointments and Re-appointments: Resolutions were passed for the re-appointment of Ms. Shraddha Prithvi RJ and Shri Neeraj Kumar as Directors liable to retire by rotation. Dr. Ashutosh Karnatak was appointed as an Independent Director.
- Continuation of Directorship: Approval was granted for the continuation of Shri Prithavi Raj Jindal’s directorship as a Non-Executive Director upon attaining the age of 75 years.
- Material Related Party Transactions: Shareholders approved significant transactions for the financial year 2027-28 with JWIL Infra Limited (up to ₹3000 crores), JSW Steel Limited (up to ₹6,000 crores), and Jindal Steel Limited (up to ₹5000 crores). These transactions are to be conducted at arm’s length and in the ordinary course of business.
- Ratification and Approval: The remuneration paid to M/s R.J. Goel & Co. as Cost Auditors for FY 2026-27 was ratified. Additionally, the company received approval for the issuance of debentures on a private placement basis, with a target to raise up to ₹1,000 crores.
Financial and Operational Highlights
During the meeting, Shri Narendra Mantri, Chief Operating and Financial Officer, presented a brief overview of the company’s financial and operational highlights for the fiscal year 2025-26. He noted that the company faced significant disruptions due to geopolitical tensions in the Middle East, which impacted operations and financial performance. Despite these challenges, the investment initiative to establish a strong manufacturing presence in the GCC region is progressing on schedule. The Svayam CSR initiative continued its work with various organizations.
Voting and Scrutinizer’s Report
The meeting confirmed the results of the remote e-voting and e-voting conducted during the AGM. The Scrutinizer’s report, dated June 1, 2026, indicated strong approval for all resolutions. The highest percentage of votes in favour was recorded for Resolution No. 1 (99.99%) and Resolution No. 2 (99.99%). Resolution No. 3, concerning the appointment of a director, received 87.50% of votes in favour, while Resolution No. 4 received 90.71% in favour.
Source: BSE
