Company Overview

Inter State Oil Carrier Limited (Scrip Code: 530259, CIN: L15142WB1984PLC037472) has issued comprehensive disclosures regarding its 42nd Annual General Meeting and FY26 financial results. The company operates in the logistics and transportation sector with focus on oil and energy transportation services.

AGM Details and Corporate Governance

Meeting Schedule: The 42nd AGM is scheduled for 14th September 2026 at 1:00 PM IST through video conferencing. The book closure period runs from 8th to 14th September 2026, with remote e-voting available from 11th to 13th September 2026.

Key Agenda Items:

  • Adoption of audited financial statements for FY ended 31st March 2026
  • Re-appointment of Mr. Sanjay Jain as Director retiring by rotation
  • Re-appointment of Mr. Siddhant Jain as Whole-Time Director for 3 years from May 2027 with revised remuneration terms
  • Revision in remuneration structure for Managing Director Sanjay Jain, introducing profit-linked commission up to 7.5% of PAT subject to ₹15 lakh cap effective April 2026
  • Approval of related party transactions with Inter State Capital Markets Pvt. Ltd. involving tanker/HMV hiring services with ₹20 crore annual limit for 3 years

Financial Performance Highlights

FY26 Results: The company delivered strong financial performance with:

  • Total Income: ₹108.67 crores (22.70% growth year-on-year)
  • EBITDA: ₹9.95 crores (EBITDA margin: 9.16%)
  • Profit Before Tax: ₹2.75 crores (76.25% growth)
  • Profit After Tax: ₹1.92 crores (67.79% growth)
  • EPS: ₹3.85 (vs ₹2.29 in FY25)
  • No dividend recommended for FY26

Capital Structure: Authorized share capital remains at ₹5.30 crores with paid-up capital of ₹4.99 crores. 93.71% of shares are in dematerialized form.

Related Party Transactions and Contingencies

Transaction Details: FY26 related party transactions totaled ₹1,135.81 lakhs involving:

  • Key managerial personnel including Sanjay Jain (₹54.17 lakh remuneration), Siddhant Jain (₹16.75 lakh), and other directors
  • Entities with KMP influence: Inter State Liquid Logistics Ltd (₹859.71 lakh expenses) and Inter State Capital Markets Pvt. Ltd
  • Outstanding amounts due to KMPs totaling ₹6.97 lakhs as of 31st March 2026

Contingent Liabilities:

  • Bank guarantees aggregating ₹313.69 lakhs issued against fixed deposit receipts
  • GST demand of ₹30.05 lakhs for FY2020-21 under appeal with State GST Tribunal
  • Company expects favorable resolution and has already paid ₹1.66 lakhs against the demand

Loan Portfolio and Employee Benefits

Term Loans: Outstanding term loans of ₹1,313.26 lakhs from multiple banks including:

  • Axis Bank: ₹404.80 lakhs (secured against trucks)
  • HDFC Bank: ₹468.99 lakhs (secured against trucks)
  • ICICI Bank: ₹71.54 lakhs (secured against trucks)
  • IndusInd Bank: ₹333.33 lakhs (secured against assets)

Employee Benefits: Actuarial projections show net employee benefit obligation of ₹38.62 lakhs, with next period expected cost of ₹6.25 lakhs and minimum funding requirement of ₹12.91 lakhs.

Regulatory Compliance and Governance

Secretarial Audit: Rantu Das & Associates noted two observations:

  • Unsettled charges for repaid loans with ROC
  • GST scrutiny notices for FY2020-21 and FY2021-22 with appeals filed

Director Details:

  • Sanjay Jain (MD): 55 years, 33+ years experience, 17.52% shareholding, FY26 remuneration ₹54.17 lakhs
  • Siddhant Jain (Whole-Time Director): 30 years, 5.5 years experience, minimal shareholding, FY26 remuneration ₹16.75 lakhs

Auditors: Patni & Co. (FRN: 320304E) continue as statutory auditors until the 43rd AGM in 2027.

The company maintains its registered office at 113 Park Street, Kolkata and utilizes Maheshwari Datamatics Private Limited as its RTA. All regulatory compliance requirements under SEBI LODR regulations have been met with these disclosures.