Pennar Industries Ltd. — AGM Information 2020

Sep 30, 2020

Letter No. PIL/AGM/outcome/2020/01

Date : 30.09.2020 Place: Hyderabad

The National Stock Exchange of India BSE Limited Limited PhirozeJeejeebhoy Towers, Dalal Street, Fort BandraKurla Complex, Bandra East Mumbai - 400 001 Mumbai - 400 051 Scrip code: 513228 Scrip Symbol: PENIND

Dear Sir/Madam,

Sub: Proceedings of the 44[th] Annual General Meeting (AGM) held on 30[th] September, 2020-reg. Ref: Regulation 30(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

With reference to the subject cited above, we hereby inform you that the 44[th] AGM of the Company was held today through video conferencing/ other audio visual means. A copy of the summary of proceedings of 44[th] AGM as required under Regulation 30(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 is attached herewith.

Kindly take the aforesaid information on your record.

Thanking You,

Yours faithfully,

for Pennar Industries Limited

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Mirza Mohammed Ali Baig Company Secretary & Compliance Officer ACS29058

A Summary of proceedings of 44[th] Annual General Meeting

The 44[th] Annual General Meeting (AGM) of the Members of M/s. Pennar Industries Limited (the Company) was convened at 11:00 A.M. (IST) on Wednesday the 30[th] day of September, 2020 through Video Conferencing / Other Audio Visual Means (e-AGM).

The Company Secretary welcomed the members to the meeting and explained the procedural/technical points relating to the participants at the meeting through Video Conferencing.

Mr. Nrupender Rao, Chairman of the Company attend the Meeting but was unable to speak due to health issues, In view of the same, Mr. B Kamalaker Rao, Chairman of Audit Committee was requested to take the chair and take forward the proceedings.

Mr. B Kamalaker Rao chaired the meeting and welcomed the Members to the 44[th] AGM of the Company. The requisite quorum was present. The Chairman called the meeting in order. It was informed that the Registers as required under the Companies Act, 2013 were available online during AGM for inspection upon request being made to the Company.

The Chairman introduced the Directors, Chief Financial Officer, Company Secretary, Statutory Auditors, Internal Auditors, Secretarial Auditor, Scrutiniser who had joined the AGM through Video Conferencing from their respective locations. The Chairman said with the approval of the members present, The Auditors’ Report and the Secretarial Audit Report were taken as read and there were no qualifications in the Audit Reports.

Mr. Nrupender Rao (Chairman of the Company), Mr. B Kamalaker Rao (Chairman of Audit Committee, Nomination & Remuneration Committee and Stakeholders Relationship Committee), Mr. Aditya Rao (Vice-Chairman and Managing Director), Mr. P V Rao (Joint Managing Director) and Mr. K Lavanya Kumar (Executive Director) of the Company attended the meeting. The quorum was present throughout the meeting.

The Chairman speech was delivered followed by presentation by Mr. Aditya Rao, Vice-Chairman and Managing Director and Mr. P V Rao, Joint Managing Director of the Company made a presentation on the performance of the Company.

The Chairman invited the members who had registered as speakers to speak / ask questions or express their views. The members who had registered as speakers expressed their views and raised a few questions. Mr. Aditya Rao, Vice-Chairman and Managing Director and Mr. P V Rao, Joint Managing Director, replied to the queries and provided necessary clarifications to the Members.

The Chairman thereafter informed that as per the provisions of Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirement) Regulations 2015, remote e-voting facility through M/s. kfin technologies private limited (Kfintech) was provided to the members to cast their vote for the resolutions, as set out in the Notice, from 26[th] September, 2020, 9:00 A.M to 29[th] September, 2020, 5:00 P.M and the e-voting facility was also provided during the meeting. The shareholders as on cut-off date of 23[rd] September, 2020 were eligible for casting votes. The members who have not casted votes during remote e-voting can only cast during the meeting and 15 minutes after the meeting. However they can participate in the meeting even if they had already voted through remote e-voting. Mr. Subhash Kishan Kandrapu, Practicing Company Secretary was appointed as Scrutinizer for entire e-voting process.

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The following items of business as per the Notice of 44[th] AGM were transacted at the meeting:

Ordinary Business:

1. To receive, consider and adopt the audited financial statements (including audited consolidated financial statements) of the company for the financial year ended 31[st] March, 2020 together with the reports of the Board of directors and the auditors thereon.

2. To appoint a Director in the place of Mr. Vishal Sood (DIN: 01780814) who retires by rotation and being eligible offers himself for re-appointment.

3. To appoint a Director in the place of Mr. K Lavanya Kumar (DIN: 01710629) who retires by rotation and being eligible offers himself for re-appointment.

Special Business:

1. To re-appoint Mr. Nrupender Rao (DIN: 00089922) as Chairman.

2. To re-appoint Mr. Aditya Rao (DIN: 01307343) as Vice-Chairman and Managing Director.

3. To appoint Mr. P V Rao (DIN: 03157581) as Joint Managing Director.

4. To re-appoint Mr. K Lavanya Kumar (DIN: 01710629) as Executive Director.

5. To ratify the remuneration payable to M/s. Shaik & Associates., Cost Auditors for the financial year ending 31[st] March, 2020.

The Chairman authorised Mr. Aditya Rao, Vice-Chairman and Managing Director or Mr. Mirza Mohammed Ali Baig Company Secretary to announce the results of voting of the meeting along with the scrutinizers’ report within 48 hours and it shall be placed on the website of the company, Kfintech website and be communicated to Stock Exchanges.

The Chairman concluded the meeting with a vote of thanks to all members, directors, auditors who participated in the meeting. The meeting ended at 11:52 A.M. IST.

Thanking you,

Yours faithfully,

for Pennar Industries Limited

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Mirza Mohammed Ali Baig Company Secretary & Compliance Officer ACS 29058

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