Mukand Ltd

Price movement clarification

• Mukand confirms no material information was withheld; price movement deemed market-driven and not connected to management.

Mukand Limited trading window closed from Oct 01, 2026 until 48 hours after the dissemination of the Unaudited Financial Results for the quarter and six months ending September 30, 2026

Kalwa land sale update

• Mukand receives Rs 59.29 crore from AGP DC Infra as second Kalwa land sale tranche.

Instruments & Ratings

• Bank Guarantee Rs 184.90 crore rated A2.
• Cash Credit Rs 0.10 crore rated BBB+/Stable.
• Working Capital Demand Loan Rs 1400 crore rated BBB+/Stable.
• Fixed Deposits Rs 75 crore rated BBB+/Stable.
• Total bank facilities rated: Rs 1585 crore.

Agency, Outlook & Validity

• Agency: CRISIL Ratings.
• Long-Term Rating: BBB+/Stable; Short-Term Rating: A2 (Reaffirmed).
• Outlook: Stable.
• Rating letter valid till 31 March 2027.

AGM Details

• AGM held on August 12, 2026 at 11:30 a.m. via VC/OAVM.
• Quorum present; 91 members attended via VC/OAVM.
• Meeting duration from 11:30 a.m. to 1:08 p.m.
• Two-way VC facility provided; proceedings viewable live on KFin.

Key Resolutions

• R1: Adoption of audited standalone and consolidated financials with reports for year ended March 31, 2026.
• R2: Declaration of 8% dividend on 8% Cumulative Redeemable Preference Shares for year ended March 31, 2026.
• R3: Declaration of equity dividend of Rs 3 per share including Re 1 special payout (30%).
• R4: Re-appointment of Nirav Bajaj by rotation as director.
• R5: Ratification of cost auditor’s remuneration.
• R6: Approval for issue of Redeemable Non-convertible Debentures on private placement.

Dividend

• CRPS dividend: 8% declared.
• Equity dividend: Rs 3 per share including Re 1 special payout (30%).

Director Changes

• Nirav Bajaj to be re-appointed by rotation as a director.

Auditor Appointments

• Cost auditor remuneration to be ratified.

Material Related Party Transactions

• No material related party transactions disclosed.

Other Material Approvals

• No other material approvals disclosed.

Voting Status

• Results for all resolutions awaited; to be declared within 2 working days.

Financial results approved

• Board approved unaudited standalone and consolidated Q1 FY2026 results for quarter ended June 30, 2026.
• Results reviewed by DHC & Co. with a limited review report.
• Unaudited results to be hosted on the company website.

Signatory authorization

• Chairman and MD Niraj Bajaj authorized to sign unaudited results.

Asset sales and held-for-sale assets

• Conveyance deed for Kalwe land (~3.07 acres) and 0.06 acres at Dighe executed; surplus in Other Income.
• Term Sheet for Kalwe land parcel (~9.20 acres) disclosed as Asset Held for Sale; approvals pending.
• Company to seek government approvals and conditions precedent for sale.

Auditor remarks and notes

• Independent auditor reviews completed; no material misstatement identified.
• One joint venture's interim results not reviewed by its auditor; not material.
• Group's share of profits from that venture and associates not material.

AGM details

• AGM on Aug 12, 2026 at 11:30 IST via VC/OAVM.
• Deemed venue: Registered Office of the Company.
• Remote e-voting window: Aug 9–11, 2026.
• Dividend record date: Aug 7, 2026.
• Cut-off date for voting rights: Aug 5, 2026.
• Dividend payout date targeted by Aug 26, 2026.

Ordinary resolutions

• Adopt standalone and consolidated financial statements for FY 2025-26.
• Dividend on 8% CRPS on paid-up value for FY 2025-26.
• Dividend on equity shares of Rs 3 per share, including Rs 1 special payout.

Director changes

• Nirav Bajaj to be re-appointed as Whole-time Director.

Auditor remuneration

• Cost Auditors M/s. Y. R. Doshi & Co. remuneration Rs 1,35,000 plus expenses ratified.

Special resolutions

• General approval to issue secured/unsecured Redeemable NCDs on private placement up to Rs 500 crore.
• Board empowered to delegate powers for NCD issuance and related actions.