Cargosol Logistics Limited shareholders approved all five resolutions proposed at the 16th Annual General Meeting (AGM) held on September 24, 2026. The company disclosed the consolidated voting results and the Scrutinizer's Report to BSE Limited, confirming that resolutions regarding borrowing powers, investments, and related party transactions passed with the requisite majority.

The meeting authorized an increase in the limit for making investments, loans, guarantees, and advances up to ₹500 crore, surpassing thresholds under Section 186 of the Companies Act, 2013. Additionally, shareholders passed an ordinary resolution to raise the cap on related party transactions to ₹250 crore. A special resolution to increase the borrowing power up to ₹500 crore, exceeding limits specified under Section 180(1)(c) of the Companies Act, 2013, was also approved.

Key resolutions passed

The AGM considered and approved five agenda items, including the adoption of financial statements and director re-appointments. The voting results for the specific financial limits are detailed below:

Meeting proceedings and governance

The Annual General Meeting was conducted via video conferencing and other audio-visual means, commencing at 2:00 pm and concluding at 2:06 pm. Managing Director Roshan Kishanchand Rohira chaired the session, noting that the Auditor's Report contained no qualifications or adverse comments on the company's financial transactions for the year ended March 31, 2026.

Mrs. Stalgy Muliyl (DIN: 06417315), Non-Executive Director, was re-appointed as she retired by rotation under Section 152(6) of the Companies Act, 2013. Remote e-voting facilities were provided from September 21 to September 23, 2026, with electronic voting available during the meeting.

Voting participation details

The disclosure highlights the participation levels across different shareholder categories. As on the record date of September 17, 2026, the total number of shareholders stood at 332. Voting was conducted through remote e-voting and electronic polling during the meeting.

For the adoption of financial statements (Agenda 1), promoters and promoter group members voted in favor with 7,503,600 shares, representing 100% of their holding. Public non-institutional shareholders participated with 144,000 votes polled out of their total holding of 2,696,400 shares, resulting in a participation rate of 5.34%. All votes cast were in favor of the resolution, with zero votes against.

Similar voting patterns were observed for the special resolutions regarding borrowing and investment limits. Promoter group support remained at 100%, while public non-institutional shareholders recorded a 5.34% participation rate, all voting in favor. The re-appointment of Mrs. Stalgy Muliyl also saw unanimous support from those who voted, with promoters holding a stake in the resolution as noted in the agenda details.

Scrutinizer's report and compliance

Pursuant to Regulation 30 and 44(3) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company submitted the consolidated results of remote e-voting and e-voting along with the Scrutinizer's Report. Priti Nikhil Jajodia, Practicing Company Secretary, served as the Scrutinizer for the remote e-voting and electronic voting processes conducted in accordance with Section 108 of the Companies Act, 2013.

Cargosol Logistics reported a standalone net profit of ₹57.75 lakh for the financial year ended March 31, 2026, a significant increase from the ₹12.39 lakh profit recorded in the previous year. Despite the standalone improvement, the company posted a consolidated net loss of ₹30.06 lakh, driven by losses from its associate entities.

The logistics firm’s annual general meeting (AGM) is scheduled for September 24, 2026, where shareholders will vote on key resolutions including an increase in borrowing limits and related party transaction approvals.

Financial Performance

Standalone revenue from operations declined to ₹11,113.69 lakh in FY26, down from ₹13,200.24 lakh in FY25. The company managed to reduce total expenses to ₹11,062.94 lakh from ₹13,204.54 lakh in the prior year, aiding profitability despite lower top-line growth.

On a consolidated basis, the group reported a profit before tax of ₹81.15 lakh. However, a share of loss in associates amounting to ₹87.51 lakh resulted in a net loss of ₹30.06 lakh for the group.

What the Numbers Show

The divergence between standalone and consolidated results highlights the impact of international operations on the group's bottom line. While the core Indian logistics business improved its pre-tax margin significantly—from roughly 0.17% in FY25 to 0.73% in FY26—the consolidated entity was weighed down by a substantial increase in losses from associates, which rose from ₹6.43 lakh in FY25 to ₹87.51 lakh in FY26.

Key Resolutions at AGM

The Board of Directors has proposed several special and ordinary resolutions for approval at the upcoming AGM:

• Borrowing Power: Approval to increase borrowing limits up to ₹500 crore under Section 180(1)(c) of the Companies Act, 2013.
• Investments and Loans: Consent to make investments, loans, or guarantees up to ₹500 crore in excess of Section 186 limits.
• Related Party Transactions: Approval for material related party transactions up to ₹250 crore for FY27.

The cut-off date for voting rights is September 17, 2026, with remote e-voting available from September 20 to September 23, 2026.

Balance Sheet Highlights

As of March 31, 2026, total assets stood at ₹5,672.80 lakh. Short-term borrowings increased to ₹1,962.60 lakh from ₹1,630.90 lakh in the previous year, while long-term borrowings decreased to ₹739.92 lakh from ₹880.82 lakh. Trade receivables rose to ₹3,503.96 lakh from ₹3,044.75 lakh.