Meeting Details

The 40th Annual General Meeting was held through Video Conferencing/Other Audio Visual Means (VC/OAVM) at 11:00 AM IST on Tuesday, 15th September 2026.

Attendance:

  • Shareholders present: 35 (1 Promoter/Promoter group, 34 Public)
  • Directors present: V. Manickam (Chairman), V.M. Mohan, Lakshmi Aparna Sreekumar (Chairperson - Audit Committee, Relationship Stakeholders Committee and Nomination & Remuneration Committee), Sandhya Rajan
  • Other attendees: K. Suresh (CEO & Company Secretary), S. Pranatharthiharan (CFO)
  • Statutory Auditor representative: V. Swaminathan from M/s P.S. Subramania Iyer & Co
  • Secretarial Auditor cum Scrutinizer: Sindhuja Porselvam, Company Secretary in Practice

All Statutory Registers, Auditors' Reports, and relevant documents were available for electronic inspection by members.

Chairman's Address Highlights

Global Economic Outlook:

  • Global GDP growth projected at 3.1% in 2026 and 3.2% in 2027
  • Global headline inflation projected to increase to 4.4% in 2026 before moderating to 3.7% in 2027
  • Geopolitical tensions in Middle East affecting commodity prices, inflationary pressures, and supply chain disruptions

Indian Economic Outlook:

  • India's real GDP projected to grow by 6.3% in FY 2026-27 and 6.4% in FY 2027-28
  • Inflation projected to increase to 4.8% in FY 2026-27 driven by higher food, energy and fertiliser costs
  • Growth supported by resilient domestic demand, public investment, and structural reforms

Company Performance

Standalone Performance (FY26):

  • Gross revenue: ₹257.75 crore (compared to ₹297.64 crore previous year)
  • Net income: ₹3.64 crore (compared to ₹3.87 crore previous year)
  • Other operating income: ₹0.80 crore (compared to ₹0.78 crore previous year)
  • Other income: ₹0.36 crore (compared to ₹0.39 crore previous year)

Q1 FY27 Performance (April-June 2026):

  • Gross income: ₹1.24 crore (compared to ₹1.36 crore corresponding period previous year)

Subsidiary Performance - India Cements Investment Services Limited (FY26):

  • Turnover: ₹424.41 crore (compared to ₹715.51 crore previous year)
  • Income: ₹0.54 crore (compared to ₹0.88 crore previous year)
  • Cash market segment turnover: ₹278.97 crore (compared to ₹457.07 crore previous year)
  • Futures & Options segment turnover: ₹145.44 crore (compared to ₹258.44 crore previous year)
  • Other operating income: ₹0.03 crore (compared to ₹0.06 crore previous year)
  • Other income: ₹0.09 crore (compared to ₹0.10 crore previous year)

Subsidiary Q1 FY27 Performance (April-June 2026):

  • Gross income: ₹0.15 crore (compared to ₹0.16 crore corresponding period previous year)

Significant Corporate Development - Share Purchase Agreement

Promoter Sri Saradha Logistics Private Limited (SSLPL) entered into a Share Purchase Agreement (SPA) with Sandeep Jain, Vikas Garg and Rahul Nagar (collectively "Acquirers") on 24th July 2026.

Transaction Details:

  • SSLPL agreed to sell its entire shareholding of 1,08,58,186 equity shares of ₹10 each
  • This constitutes 50.02% of the paid-up equity share capital of the Company
  • Negotiated price: ₹312 per equity share

Open Offer Details:

  • Acquirers made Public Announcement on 24th July 2026 for Open Offer
  • Offer to acquire up to 56,43,612 fully paid-up equity shares of ₹10 each
  • This represents 26.00% of the voting share capital of the Company
  • Offer price: ₹12 per equity share

Conditions: Acquisition subject to receipt of applicable regulatory approvals, including prior approval of Reserve Bank of India. Completion would result in Acquirers acquiring control over the Company.

AGM Business Transactions

The following resolutions were transacted at the AGM:

1. Ordinary Resolution: Adoption of Audited Standalone Financial Statements for year ended 31.03.2026 and Reports of Directors and Auditors thereon

2. Ordinary Resolution: Adoption of Audited Consolidated Financial Statements for year ended 31.03.2026 and Report of Auditors thereon

3. Special Resolution: Reappointment of Sri V. Manickam as Non-Executive Non-Independent Director and approval for his continuation as Director after attaining age of 75 years

4. Ordinary Resolution: Reappointment of Sri K. Suresh as Manager of the Company for period from 01.10.2026 to 30.09.2027

Voting Process

  • Remote e-voting facility provided through CDSL from 09:00 AM on 12.09.2026 to 05:00 PM on 14.09.2026
  • E-voting window kept open for 15 minutes from conclusion of meeting for members who had not availed remote e-voting
  • Smt. Sindhuja Porselvam appointed as Scrutinizer to oversee voting process
  • Voting results to be declared and intimated to Stock Exchange and uploaded on Company's website and CDSL website within two working days

Meeting Conclusion

The Annual General Meeting concluded at 11:40 AM with e-voting window closing at 11:55 AM.