Meeting Details

The 31st Annual General Meeting was held on Tuesday, 22nd September 2026 at 03:00 PM IST through Video Conferencing/Other Audio-Visual Means (VC/OAVM). The meeting was conducted at the registered office of the Company located at KRM Centre, 4th Floor, No. 2, Harrington Road, Chetpet, Chennai - 600031. The meeting commenced at 03:00 PM IST and concluded at 03:56 PM IST.

Resolutions and Business Transacted

The following items of business were transacted at the meeting:

Ordinary Businesses:

  • Item No.1: To receive, consider and adopt the Standalone and Consolidated Audited Financial Statements of the Company for the Financial Year ended March 31, 2026, together with the reports of Board of Directors' and Auditors' thereon (Ordinary Resolution)
  • Item No.2: Declaration of Final Dividend of ₹2 (i.e. 100%) per equity share of ₹2 each for the Financial Year ended March 31, 2026 (Ordinary Resolution)
  • Item No.3: To appoint a Director in the place of Mr. K. Kumaravel (DIN: 00664405), who retires by rotation and being eligible, offers himself for reappointment (Ordinary Resolution)

Special Businesses:

  • Item No.4: To ratify the remuneration of the Cost Auditors for the Financial Year 2025-26 (Ordinary Resolution)

Voting Process and Methods

The Company provided e-voting facility through CDSL to the shareholders. The voting facility was available for 15 minutes during the meeting for shareholders who had not exercised their vote through remote e-voting. Mr. Krishna Sharan Mishra, Practicing Company Secretary, was appointed as the Scrutinizer for the meeting and the e-voting process.

Key Financial and Operational Highlights from Chairman's Speech

Record Financial Performance FY2025-26

  • Standalone Revenue from Operations increased by 45% to ₹2,939 crores (from ₹2,028 crores in FY25)
  • EBITDA more than doubled to ₹218 crores, representing 103% growth
  • EBITDA margins expanded from 5.3% to 7.4%
  • Profit After Tax increased by 113% to ₹139 crores (from ₹65 crores in previous year)
  • PAT margins improved to 4.7%
  • Diluted EPS increased to ₹46.27 (from ₹23.63 in FY25)
  • Return on Capital Employed improved to 17%
  • Highest-ever production and sales volumes achieved

Business Segment Performance

Lead Business:

  • Commissioned fully automated Thervoykandigai facility in Tamil Nadu
  • Increased lead recycling capacity by 55% to 2,04,000 MTPA licensed capacity
  • Lead sales increased by 11% year-on-year to 100,727 MT during FY26
  • Value-added products accounted for 65% of revenue from lead segment

Copper Business:

  • Copper recycling capacity doubled to 12,000 MTPA
  • Copper revenue grew more than eleven times to ₹672.58 crores
  • Copper segment now contributes approximately 23% of revenue mix
  • Planning 36,000 MTPA Copper Cathode facility at Thervoykandigai plant (₹200 crore investment)
  • Phase 1 targeted for commissioning by December 2026
  • Phase 2 expected by Q3 FY28

Expansion and Growth Initiatives

  • Acquired 123 acres of land at Mundra, Gujarat for export infrastructure and future capacity expansion
  • Serve customers across more than 20 countries including Japan, South Korea, Thailand, Indonesia, and Netherlands
  • Surpassed USD 200 million in export revenues
  • Recognized as Four-Star Export House by Directorate General of Foreign Trade
  • LME-registered brand established

Sustainability and Innovation

  • Achieved 4.43% energy savings during the year
  • Transitioned from furnace oil to cleaner fuels
  • Installed LED lighting and integrated solar PV systems
  • Upgraded furnaces to improve efficiency and metal recovery
  • CSR investment of ₹1.33 crores across education, healthcare, infrastructure, and livelihood initiatives

Target 2030 Goals

  • Deliver more than 20% revenue CAGR and 20% profitability growth
  • Over 15% volume growth
  • EBITDA margins of more than 8%
  • ROCE of over 20%
  • Value-added products contributing more than 60% of revenues
  • Source more than 50% of power requirements from renewable sources
  • Reduce energy consumption by more than 20%

Compliance and Signatories

The meeting was conducted in compliance with General Circular No. 03/2025 dated September 22, 2025 issued by the Ministry of Corporate Affairs, Companies Act, 2013, and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The document was signed by K. Kumaravel, Director Finance & Company Secretary, with digital signature verification details provided.

Attendance

Mr. Ashish Bansal (Chairman & Managing Director) chaired the meeting. Other attendees included:

  • Mr. K Kumaravel, Director Finance & Company Secretary
  • Mr. A Vijay Anand, Independent Director
  • Dr. M Ramasubramani, Independent Director
  • Ms. Shanti Balamurugan, Independent Director
  • Mr. B Vijay, Chief Financial Officer
  • Mr. L. Mukundan, representing Statutory Auditors (L. Mukundan and Associates, Chartered Accountants)
  • Mr. Krishna Sharan Mishra, representing Secretarial Auditors (KSM Associates) and Scrutinizer