Cosco schedules AGM for September 30; seeks reappointment of four directors
- Cosco schedules its 47th AGM for September 30, 2026, to adopt FY26 results and reappoint directors
- Revenue from operations rose to ₹18,856.08 lakh in FY26 from ₹17,334.37 lakh in FY25
- Net profit increased to ₹100.49 lakh from ₹78.15 lakh, despite a drop in pre-tax profit to ₹81.20 lakh
- Board seeks approval to reappoint Arun Jain, Manish Jain, Pankaj Jain, and Neeraj Jain as Whole Time Directors
- Remote e-voting runs from September 26 to September 29, 2026, with NSDL as the service provider
*this image is generated using AI for illustrative purposes only.
Cosco (India) Limited has scheduled its 47th Annual General Meeting for September 30, 2026, at 12:00 noon via video conferencing. The meeting will transact ordinary business, including the adoption of the audited financial statements for FY26, alongside special resolutions for board reappointments.
The Board seeks shareholder approval to reappoint Mr. Arun Jain, Mr. Manish Jain, Mr. Pankaj Jain, and Mr. Neeraj Jain as Whole Time Directors for a three-year term effective from October 1, 2026. Additionally, Mr. Neeraj Jain retires by rotation and offers himself for reappointment as a director.
Financial Performance in FY26
For the fiscal year ended March 31, 2026, Cosco reported revenue from operations of ₹18,856.08 lakh, an increase from ₹17,334.37 lakh in the previous year. Total revenue stood at ₹18,978.21 lakh, compared to ₹17,408.13 lakh in FY25.
| Metric | FY26 (₹ in Lakhs) | FY25 (₹ in Lakhs) |
|---|---|---|
| Revenue from operations | 18,856.08 | 17,334.37 |
| Other income | 122.13 | 73.76 |
| Total expenses | 18,897.01 | 17,228.89 |
| Profit before tax | 81.20 | 119.24 |
| Profit after tax | 100.49 | 78.15 |
Profit before tax declined to ₹81.20 lakh from ₹119.24 lakh in the prior year. However, profit after tax rose to ₹100.49 lakh from ₹78.15 lakh, aided by lower total tax expenses of (₹19.29 lakh) against (₹41.09 lakh) previously.
What the Numbers Show
While pre-tax profits contracted, the company reported a higher net profit due to a significant reduction in tax outflows. Total tax expenses improved by approximately ₹21.80 lakh year-on-year, driven largely by higher deferred tax credits of ₹36.13 lakh in FY26 compared to ₹16.22 lakh in FY25. This tax benefit offset the decline in operating profitability.
Director Remuneration Details
The proposed remuneration for the reappointed Whole Time Directors includes a monthly salary of ₹4,40,000 for the year ending March 31, 2027, rising to ₹4,70,000 from April 1, 2027. Allowances will be capped at 50% of the salary. Perquisites include medical coverage, car facilities, and club fees up to ₹1 lakh per annum.
Mr. Arun Jain, Mr. Manish Jain, and Mr. Pankaj Jain each received a base salary of ₹49,20,000 in FY25-26. Mr. Neeraj Jain also received ₹49,20,000 as base salary during the same period.
E-Voting and Meeting Logistics
Remote e-voting opens on September 26, 2026, at 9:00 am and closes on September 29, 2026, at 5:00 pm. NSDL is the authorized agency for e-voting. The cut-off date for determining eligible shareholders is September 23, 2026. Shareholders holding physical shares are advised to dematerialize them, with a special window open until February 4, 2027.
Historical Stock Returns for Cosco
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| 0.0% | -2.48% | -3.25% | -6.61% | -21.00% | 0.0% |
How might the proposed salary increase for Whole Time Directors impact shareholder sentiment and voting outcomes at the AGM?
What strategic initiatives is Cosco planning to implement in FY27 to reverse the decline in pre-tax profitability despite rising revenues?
Could the significant reliance on deferred tax credits to boost net profit in FY26 indicate underlying operational margin pressures that may persist?
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