Meeting Details

The 34th Annual General Meeting was held on Friday, August 07, 2026 at 10:00 A.M through Video Conference (VC) / Other Audio Visual Means (OAVM) without physical presence of shareholders. The meeting concluded at 11:25 A.M (including time allowed for e-voting at AGM).

Attendance

Directors Present:

  • Mr. Hemant M Nerurkar (Chairman of the Board) - Mumbai, India
  • Mr. Haruo Igarashi (Director) - Tokyo, Japan
  • Mr. L Ramkumar (Independent Director, Chairman of Audit and Nomination & Remuneration Committees) - Chennai, India
  • Mrs. SM Vinodhini (Independent Woman Director and Chairman of Stakeholders Relationship Committee) - Chennai, India
  • Mr. Thomas Francis Mckeough (Director) - Chicago, USA
  • Mr. R Chandrasekaran (Managing Director) - Registered Office, Chennai

Key Managerial Personnel Present:

  • Mr. P Dinakara Babu (Company Secretary) - Registered Office, Chennai
  • Mr. S Vivekchandranath (Chief Financial Officer) - Registered Office, Chennai

Other Officials Present:

  • Mr. Praveen Kumar Jain (Partner, B S R & Co. LLP, Chartered Accountants, Statutory Auditors) - Chennai, India
  • Mr. C Prabhakar (Partner, BP & Associates, Practicing Company Secretaries, Secretarial Auditor & Scrutinizer) - Chennai, India
  • Ms. Sofia (Registrar & Transfer Agent - Cameo Corporate Services Ltd.) - Chennai, India

Shareholder Participation:

A total of 78 Members (including 3 members of Promoter & Promoter Group) representing 2,36,28,788 shares (75.07% of share capital) attended the meeting through video conferencing.

Business Transacted

The following items of business from the AGM notice dated May 21, 2026 were considered:

Ordinary Business:

1. To receive, consider and adopt the Audited Financial Statements for the financial year ended March 31, 2026, and the Reports of the Board of Directors' and Auditor's Report thereon (Ordinary Resolution)

2. Approval for payment of final Dividend of ₹1.30 per Equity Share of face value of ₹10 each fully paid-up, for the financial year ended March 31, 2026 (Ordinary Resolution)

3. Appointment of Mr. Haruo Igarashi, [DIN 08587832], who retires by rotation and being eligible, seeks re-appointment (Ordinary Resolution)

Special Business:

4. Approval for Material Related Party Transactions with Igarashi Electric Works Limited, Japan - operational transaction (Ordinary Resolution)

5. Approval of Remuneration to Related Party holding Office or Place of Profit (Ordinary Resolution)

6. Ratification of remuneration payable to M/s. B Y & Associates, Cost Auditors of the Company for the Financial Year 2026-27 (Ordinary Resolution)

Key Proceedings

The Chairman delivered an address highlighting:

  • Global and Indian automotive industry outlook
  • Company's business performance
  • Strategic opportunities from global market shifts
  • Future growth priorities
  • Business development initiatives covering actuator motors, sub-assemblies and non-automotive BLDC motors for ceiling fans
  • Financial performance for the first quarter of FY 2026-27
  • Market share across key applications
  • Environmental, social and governance (ESG) initiatives
  • Product expansion strategy with technology-neutral motors

Voting Process

Remote e-voting was conducted through Central Depository Services (India) Limited (CDSL) from 9:00 A.M (IST) on August 04, 2026 to 5:00 P.M (IST) on August 06, 2026. Members holding shares as of July 31, 2026 (cut-off date) were eligible to vote. Additional e-voting was available during the AGM for 30 minutes after conclusion.

Mr. C Prabhakar was appointed as Scrutinizer to scrutinize the e-voting process. The voting results will be declared within two working days from the date of AGM and informed to stock exchanges (NSE & BSE) along with the Scrutinizer's report.

Q&A Session

Members who submitted queries in advance and requested replies during the AGM:

  • Mr. Rohit Vinod Ohri (DP ID: 12069200, Client ID: 00040972)
  • Mr. Abhishek J (DP ID: IN301637, Client ID: 41359155)
  • Mr. Priyankar Sarkar (DP ID: IN303622, Client ID: 10114058)
  • Mr. Keshav Garg (DP ID: IN300214 Client ID: 15646980)
  • Mr. Henil Bagadia (DP ID: IN304203 Client ID: 10020499)

Mr. R Chandrasekaran, Managing Director addressed queries relating to:

  • Business Growth
  • Business Verticals/Products (Actuator Motors, Sub-Assemblies, BLDC Motors)
  • Accounts
  • Global & Domestic Market
  • Market share expansion
  • EPB & TOCD applications
  • Hedging of currencies
  • New product/application motor launches
  • Profitability
  • Capacity utilisation
  • First Quarter FY27 results update
  • Expansion of Electronics portfolio for automotive applications
  • Geo-political tensions
  • Evolving tariffs & commodity price impact
  • Capital Expenditure
  • USMCA framework
  • DC Motor content per car
  • Operations top line growth
  • Operating cycle
  • Drone motor development
  • R&D capabilities
  • Global supply chain issues

Additional Information

The statutory registers and other documents required under the Companies Act, 2013 were available for electronic inspection by Members during the AGM. The live webcast link for the 34th AGM was made available on the Company's website (www.igarashimotors.com).