Veedol Corporation Ltd

AGM details

• Date: 24 August 2026; Time: 11:00 a.m.; Mode: VC/OAVM.
• Attendance: 58 members via VC/OAVM.

Key resolutions

• Adopt Statement of Profit and Loss, Balance Sheet, and reports of Board and Auditors for FY2026.
• Confirm interim dividends and declare final dividend for FY2026.
• Re-appoint Ananta Mohan Singh as director retiring by rotation.
• Appoint Rajendra Nath Ghosal as Director.
• Approve Rajendra Nath Ghosal as Managing Director from 1 Jun 2026 to 31 Mar 2027.
• Approve related party transactions with Standard Greases & Specialities Private Limited.
• Approve related party transactions with ENEOS VCL India Private Limited.
• Ratify remuneration for Cost Audit FY2026-27: Rs 3.00 lakhs plus expenses.

Voting outcomes

• Outcome not disclosed; combined results to be posted within 2 working days.

Dividend details

• Final dividend proposed for FY2026; interim dividends already paid.

Related party transactions

• Standard Greases & Specialities Private Limited: sale/purchase of goods and services.
• ENEOS VCL India Private Limited: sale/purchase of goods and services.

Cost audit remuneration

• Remuneration ratified for Cost Audit FY2026-27: Rs 3.00 lakhs plus expenses.

Director changes

• Re-appointment of Ananta Mohan Singh as director (retiring by rotation).
• Appointment of Rajendra Nath Ghosal as Director.
• Appointment of Rajendra Nath Ghosal as Managing Director (1 Jun 2026–31 Mar 2027).

Resolution summary

• Ordinary Resolution to approve related-party transactions with SGTPL up to Rs 650 crore for 2026–2027.
• Counterparty: Standard Greases and Technologies Private Limited (SGTPL).
• Nature: MRPT for sale, purchase, or services at arm's length.
• Total proposed value: Rs 650 crore; purchases Rs 600 crore, sales Rs 50 crore.
• Period: 16 Aug 2026 to 15 Aug 2027.
• Promoter/related parties abstain from voting; common directors Chandavarkar and Vyas.
• Approval status: results pending; to be announced 21 September 2026.
• Turnover relevance: proposed transactions ~29.97% of FY25-26 turnover.
• Audit Committee approved MRPT; shareholders' approval required for one-year period.

Transaction summary

• Nature: Acquisition under Composite Scheme of Arrangement for amalgamation.
• Exemption: Regulation 10(1)(a)(ii) SEBI SAST Regulations.
• Acquirer: Standard Greases and Specialities Private Limited; Transferor: Janus Consolidated Finance Private Limited.
• Method: Composite Scheme of Arrangement (amalgamation) under NCLT.
• Shares transferred: 2,95,000 equity shares, 1.69% of TC paid-up capital.
• Pre-transaction acquirer holding: 38.59% (67,24,341 shares).
• Post-transaction acquirer holding: 40.28% (70,19,341 shares).
• Pre-transaction transferor holding: 1.69% (2,95,000 shares).
• Post-transaction transferor holding: Nil.
• Change in promoter group: Transferor exits promoter group; acquirer promoter stake 40.28%.

Key transaction details

• Acquisition under Composite Scheme of Arrangement for amalgamation of Janus and SGSPL.
• Exempt from open offer under Regulation 10(1)(a)(ii) SEBI SAST Regulations.
• Acquirer: Standard Greases and Specialities Private Limited; transferor: Janus Consolidated Finance Private Limited.
• Acquired 2,95,000 shares (1.69%) from Janus Consolidated Finance Private Limited.
• Method: through Composite Scheme of Arrangement under NCLT sanction.
• Nil consideration as acquisition under scheme.
• Pre-Transaction: SGSPL 38.59% (67,24,341 shares); Janus 1.69% (2,95,000 shares).
• Post-Transaction: SGSPL 40.28% (70,19,341 shares); Janus 0%.
• Promoter group reduced to SGSPL sole promoter; Janus exits promoter group.
• Public shareholding remains about 59.72% (no change).
• Disclosure under Regulation 10(5) filed August 10, 2026.

RPT Postal Ballot

• Board approved Postal Ballot to obtain shareholder approval for material related party transactions.
• Related party is Standard Grease and Technologies Private Limited.
• Postal Ballot Notice will be sent to members and filed with exchanges.
• Date of board approval: 15 August 2026.

Resignation of Head - IT (SMP)

• Change: Tapas Saha resigns as Head - IT (SMP); effective Oct 6, 2026.
• Reason: Resignation as disclosed.

Financial results

• Standalone and Consolidated unaudited results for quarter ended 30 June 2026 approved; Limited Review Reports on record.
• Audit Committee reviewed, Board approved the standalone results.

Promoter inter-se transfer

• Off-market inter-se transfer: SGSPL to acquire 295,000 shares from Janus, 1.69% of paid-up capital.
• Exemption under Regulation 10(1)(a)(ii) SEBI SAST applicable; aggregate promoter holding unchanged.

Regulatory disclosures and auditor remarks

• Regulation 10(5) disclosure filed for inter-se transfer.
• Price Waterhouse review states no material misstatement; opinion not modified.