Retirement

Ref No.: Minechem/Stock Exch/Letter/ 8464 September 29, 2026 The Dy. General Manager, The Dy. General Manager, BSE Limited National Stock Exchange of India Ltd., Corporate Relations & Services Dept., Corporate Relations Dept., P. J. Towers, Dalal Street, Exchange Plaza, Bandra-Kurla Complex, Mumbai - 400 001 Bandra (E), Mumbai – 400 051 Scrip Code: 527001 Scrip Code: ASHAPURMIN Dear Sir/Madam, Sub: Proceedings of the 45th Annual General Meeting of the Company held on 29th September, 2026. We wish to inform you that the 45th Annual General Meeting (AGM) of the Members of the Company was held on Tuesday, 29th September, 2026 at 03.00 p.m. IST through Video Conferencing/Other Audio Visual Means (e-AGM). In this regard, enclosed herewith please find a copy of the summary of proceedings of 45th AGM as required under Regulation 30(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Kindly take the same on record. Thanking you, Yours faithfully, For ASHAPURA MINECHEM LTD. SACHIN POLKE COMPANY SECRETARY & PRESIDENT (CORPORATE AFFAIRS) Encl: As above PROCEEDINGS OF THE 45TH ANNUAL GENERAL MEETING OF THE SHAREHOLDERS OF ASHAPURA MINECHEM LIMITED HELD ON TUESDAY, 29TH SEPTEMBER, 2026 THROUGH VIDEO CONFERENCING/ OTHER AUDIO-VISUAL MEANS AT 3:00 P.M. PRESENT THROUGH VIDEO CONFERENCING/OTHER AUDIO-VISUAL MEANS: Shri. Chetan Shah Director Shri Hemul Shah Executive Director & CEO Shri Jagdish Shetty Independent Director & Chairman of the Audit Committee Shri. Wilson Mathais Independent Director & Chairman of the Stakeholders Committee Shri Dipak Vora Independent Director Smt. Surekha Sathe Independent Woman Director Smt. Himani Shah Director Shri Ashish Desai Group Chief Financial Officer (CFO) Shri. Sachin Polke Company Secretary and Compliance Officer Shri. Sachin Polke, Company Secretary & President (Corporate Affairs) welcomed the Members at the 45th Annual General Meeting (AGM) of the Company. He mentioned that in compliance with the applicable provisions of the Companies Act, 2013 read with the general circulars issued by the Ministry of Corporate Affairs and SEBI from time to time, the 45th AGM convened through video conference (VC)/Other Audio-Visual Means (OAVM). Since there was no designated Chairman of the Board, Shri Sachin Polke informed the Members that in accordance with Article 47 of the Articles of Association of the Company, the Directors present at the meeting were required to elect the Chairperson of the AGM. Shri Jagdish Shetty then proposed the name of Shri Chetan Shah for appointment as Chairperson of the Meeting. The proposal was seconded by Shri Hemul Shah. Accordingly, Shri Chetan Shah was elected as the Chairman of the 45th Annual General Meeting. Shri Sachin Polke then requested Shri Chetan Shah, Chairman of the Meeting to commence the proceedings of the Meeting. Shri Chetan Shah thereafter took the Chair and welcomed the Members to the Meeting. He noted that the requisite quorum was present and declared the Meeting duly constituted. Thereafter the Board Members & other participants were requested to introduce themselves and confirm their participation through VC. The presence of representative of M/s. PARK & Co., Statutory Auditors and Shri. Virendra Bhatt, Practicing Company Secretary & appointed Scrutinizer at the AGM through Video Conferencing from their respective locations were also confirmed. The Chairman informed that he himself was attending the meeting through video conferencing from Guinea. Thereafter, all other Board Members introduced themselves mentioning their respective locations from where they were participating through VC. The Chairman then requested Shri. Sachin Polke, to provide general instructions to the members regarding participation in the meeting. Shri. Sachin Polke apprised that the Register of Directors and Key Managerial Personnel, the Register of Contracts or Arrangements, were available electronically for inspection by the members during the AGM and that Members seeking to inspect such documents were asked to send their requests to designated email viz. cosec@ashapura.com. Since the meeting was held through VC, the facility for appointment of proxy for the AGM was not provided to the Members. As such, there was no proxy present at the meeting. He also informed that the Members were provided with the facility to exercise their right to vote by electronic means. Furthermore, the Members who did not cast their vote electronically and were participating in the meeting were provided an opportunity to cast their votes after the AGM through the e-voting system provided by CDSL. Thereafter he mentioned that the Annual Report along with the Notice of AGM had already been circulated. Then, the Notice convening the 45th Annual General Meeting and Reports forming part of the Annual Report for the Financial Year 2025-2026 were taken as read. Further, He apprised that the Company has sent a letter to shareholders whose email addresses are not registered with the Company or depository participants, providing the web link from where the annual report can be accessed on the Company's website. While on the topic, the Members were informed that, there were no observations in the report of the Statutory Auditors and Secretarial Auditors. He then read out the agenda items for the benefit of the members online and then requested the Chairman to take forward the proceedings of the meeting and also to address the Members and brief them on the performance and way forward for the Company. The Chairman addressed the Members and briefed them on the performance and key developments of the Company during the financial year 2025-26. During his address, the Chairman highlighted, inter alia, the Company's strong financial and operational performance, including consolidated Income from Operations of Rs. 5,237 crores and Profit Before Tax and Exceptional Items of Rs. 449 crores for FY 2025-26. He also highlighted the significant increase in bauxite exports from the Company's Guinea operations, which increased to approximately 8 million tonnes, compared with approximately 3.5 million tonnes in the previous financial year. The Chairman also apprised the Members of the Company's performance across its Indian business verticals and various strategic initiatives undertaken during the year. The Chairman further referred to the Company's initiatives relating to infrastructure and logistics, expansion of port capacity, investments in Indian businesses, raw material sustainability and the introduction of ESOP 2026. He also referred to the recommendation of a 100% final dividend for FY 2025- 26 as compared with 50% in the previous financial year. The Chairman also outlined the Company's focus areas for the coming year, including expansion of Guinea export volumes, improvement in margins through operational efficiencies and cost optimisation, growth in value-added products, strengthening of strategic partnerships and expansion of global market presence. Moving further, he informed the Members that, as already disclosed in the Directors' Report forming part of the Annual Report for FY 2025-26 and in the disclosures made to the Stock Exchanges, he would be retiring as a Director of the Company at the conclusion of the AGM. He further informed the Members that his association with the Company would continue in a new role and responsibility as a Chief – Strategy & Planning with effect from 1st October, 2026. He expressed his appreciation to the shareholders, employees, customers, business partners and other stakeholders for their continued trust and support. Considering the prevailing geopolitical situation, he concluded by expressing his hope for greater peace and stability across the world, which would be beneficial not only for Ashapura but for the global community as a whole. Then the Chairman handed over the proceedings to the Company Secretary. Shri. Sachin Polke then invited Speakers to express their views, queri [Showing first 8,000 characters — download PDF for full document]