Ashoka Refineries Ltd

Dematerialisation status

• Dematerialisation requests processed and confirmed to depositories; securities listed on exchanges.
• Dematerialisation certificates mutilated and cancelled after verification; depositories substituted as registered owner within 15 days.

Director Re-appointment: Tulsiram Sahu

• Re-appointed as Director; liable to retire by rotation; profile: B.Com graduate in accounts/finance; AGM 30 Sept 2026.

Statutory Auditor: KCMG & Associates

• Appointed Statutory Auditor for five years from AGM 30 Sept 2026 to the 40th AGM.
• Firm: M/s KCMG & Associates; FRN 009518C; >20 years’ experience in statutory/internal audit.

Independent Director: Aditya Sharma

• Re-appointed as Independent Director for a second term of five years.
• Term: Aug 13, 2026 to Aug 12, 2031.
• Profile: BE Mechanical; knowledge in finance and business management.
• Not related to other directors.

Managing Director: Hifzul Rahim

• Re-appointed as Managing Director for a term of three years.
• Term: Oct 1, 2026 to Sep 30, 2029.
• Profile: B.Com; accounting/finance; strong business acumen.
• Relation: Son of Mansoor Ahmed, Director.

AGM Details

• Held 30 Sep 2026 at 3:30 PM IST via VC/OAVM; commenced 3:40 PM.
• Mode: VC/OAVM; 11 members attended via VC/OAVM.
• Scrutiniser: Ghanshyam Soni of M/s G Soni & Associates.
• Remote e-voting facility available; results to be submitted to BSE within two working days.

Resolutions

• Adopt Audited Financial Statements for year ended 31 March 2026 (Ordinary).
• Appoint director replacing retiring Mr. Tulsiram Sahu (Ordinary).
• Appoint Statutory Auditors M/S KCMG & Associates (Ordinary).
• Re-Appoint Aditya Sharma as Independent Director (Special).
• Re-appoint Hifzul Rahim as MD for 3 years (Ordinary).

Director Changes

• Tulsiram Sahu retires by rotation; proposed for re-appointment.
• Aditya Sharma appointed as Independent Director.
• Hifzul Rahim re-appointed as Managing Director.

Auditors

• Statutory Auditors: M/S KCMG & Associates appointed.

Voting & Next Steps

• Voting results pending submission to BSE within two working days.

Ashoka Refineries Limited: Closure of trading window from 1 October 2026 till 48 hours after the declaration of Un-Audited Financial Results of the Company for the Quarter and half year ending on 30th September 2026

Director term completion

• Change: Independent Director Aditya Sharma completed tenure and ceased as Director effective June 27, 2026.
• He ceased to be a member of the Board committees from June 27, 2026.
• Reason: Completion of tenure.
• Effective date: end of day June 27, 2026.
• Delay in disclosure: inadvertent internal oversight; no intention to withhold.

Internal Auditor

• Re-appoint M/s Suraj Rajput & Co as Internal Auditor for FY 2026-27.
• Appointed with effect from 13.08.2026 under Section 138 of the Companies Act, 2013.
• Firm profile: CA Suraj Rajput; taxation and business laws expertise.
• Disclosure: No relationships with other directors.

Independent Director

• Independent Director Aditya Sharma re-appointed for a second five-year term from 13.08.2026.
• Subject to shareholder approval at the ensuing AGM.
• Profile: BE Mechanical Engineering with plant, machinery, finance, and management knowledge.
• Relationship: Not related to any director.

Financial results

• Board approved standalone unaudited Q1 2026 results for quarter ended June 30, 2026.
• Auditors' limited review report issued with unmodified opinion.

Governance actions

• Internal auditor re-appointed: M/s Suraj Rajput & Co for FY 2026-27.
• Independent director Aditya Sharma re-appointed for second five-year term (13.08.2026–12.08.2031), subject to AGM approval.

Operations

• Company operates in a single segment: Trading Activities; segment details not disclosed.

Cessation of Independent Director

• Cessation of Independent Director Aditya Sharma on 27 June 2026 due to tenure completion.
• Five-year term from 28 June 2021 to 27 June 2026.
• Reason: completion of tenure; not due to resignation, removal, or disqualification.
• Committee membership ceased: Nomination and Remuneration Committee.
• Brief profile: Not Applicable.
• No material other reasons for cessation; no change to other board members.