Cryogenic OGS Limited shareholders unanimously approved all proposed resolutions at the company’s 29th Annual General Meeting (AGM) held on August 20, 2026. The meeting, conducted through Video Conferencing (VC) and Other Audio-Visual Means (OAVM), saw 100% voting support across all items, including the adoption of financial statements and related-party transaction approvals.

The Cryogenic OGS AGM was convened in compliance with Ministry of Corporate Affairs (MCA) Circular No. 20/2020 dated May 5, 2020, subsequent MCA circulars including No. 03/2025 dated September 22, 2025, and SEBI Master Circular No. HO/49/14/14(7)2025-CFDPOD2/I/3762/2026 dated January 30, 2026. These regulations permitted the holding of the AGM without physical presence of members at a common venue.

Voting Process and Participation

The company utilized NSDL’s remote e-voting facility prior to the AGM and provided e-voting during the meeting for shareholders present via VC/OAVM who had not voted remotely. The cut-off date for shareholding eligibility was August 14, 2026, with 886 shareholders on record.

Remote e-voting commenced on August 17, 2026, at 9:00 am and concluded on August 19, 2026, at 5:00 pm. During the AGM, 20 shareholders attended via video conferencing, comprising six from the promoter group and 14 public shareholders. Additionally, 17 shareholders voted electronically prior to the meeting, including four promoters and 13 public shareholders.

Resolution Outcomes

All three ordinary resolutions passed with unanimous support. The scrutinizer, M/s. Ruchita Patel & Associates, confirmed that votes were unblocked on August 20, 2026, at 11:43 am in the presence of two independent witnesses.

The voting results reflect complete alignment among shareholders, with zero votes cast against or abstaining on any resolution. The combined scrutinizer’s report confirms compliance with Section 108 and 109 of the Companies Act, 2013, and Rules 20 and 21 of the Companies (Management and Administration) Rules, 2014.

Voting Breakdown by Shareholder Category

Detailed voting data reveals distinct participation patterns across shareholder categories. For Resolutions 1 and 2, promoters held 10,608,750 shares and polled 10,602,450 votes (99.94% participation), all in favour. Public institutions held 414,000 shares and polled 383,250 votes (92.57%), while public non-institutions held 3,257,250 shares but polled only 149,250 votes (4.58%).

For Resolution 3, which involved material related-party transactions with subsidiary Infravolt Engineering Private Limited, promoters were interested parties and did not vote. Consequently, the 532,500 votes cast came entirely from public shareholders: 383,250 from public institutions and 149,250 from public non-institutions. All votes cast were in favour.

What the Numbers Show

The unanimous approval across all resolutions indicates strong shareholder confidence in management decisions, particularly regarding the reappointment of directors and related-party transactions with subsidiary Infravolt Engineering Private Limited. The high participation rate through both remote e-voting and VC attendance suggests active engagement from both promoter and public shareholders. Notably, the promoter group’s near-total participation (99.94%) on governance resolutions contrasts sharply with the low participation rate among public non-institutional shareholders (4.58%), highlighting a concentration of active voting power within the promoter block and institutional investors.

Cryogenic OGS Limited reported a significant improvement in profitability for the financial year ended March 31, 2026, with profit after tax rising 67.2% to ₹1,018.27 lakhs. This growth was supported by a 24.1% increase in revenue from operations, which reached ₹4,082.24 lakhs. The company’s 29th Annual General Meeting, held on August 20, 2026, also highlighted strategic business developments, including new vendor approvals and international certifications that strengthen its position in the oil and gas sector.

The financial performance reflects strong operational efficiency, with the EBITDA margin expanding by 481 basis points to 31.7% compared to the previous year. Excluding a one-time gain on the sale of land, the underlying profit before tax grew by 48.2%. The company maintained its debt-free status, funding its growth through internal accruals and proceeds from its public issue in July 2025.

Financial Performance

What the Numbers Show

The divergence between the reported 67.2% growth in net profit and the 48.2% growth in underlying profit before tax indicates that non-operational items contributed significantly to the bottom-line expansion. While the core operational profitability improved substantially, as evidenced by the nearly 500-basis point jump in EBITDA margins, the inclusion of a one-time gain on the sale of land amplified the final profit figure. This suggests investors should focus on the underlying PBT growth and margin expansion as more sustainable indicators of the company’s operational health.

Strategic Developments

During the meeting, Chairman Niles Natvarlal Patel outlined several key business milestones achieved during and subsequent to the financial year:

• Honeywell LNG LLC Order: In March 2026, the company received a direct purchase order for an LNG metering skid to be manufactured at its Vadodara facility.
• Engineers India Limited (EIL) Approval: EIL approved Cryogenic OGS as a vendor for piping spools, opening opportunities in public sector projects.
• ADNOC and ASME Certifications: Post-FY26, the company received ADNOC approval for its metering skids and obtained ASME U-stamp certification, enhancing its capability for demanding domestic and international projects.

Corporate Actions

The company announced the incorporation of Cryogenic OGS Middle East FZE to strengthen its presence in the Gulf region. Additionally, it formed Infravolt Engineering to expand its precision manufacturing capabilities. The Board of Directors was authorized to approve material related-party transactions with Infravolt Engineering Private Limited, a subsidiary of the company.

Mrs. Kiranben Nilesbhai Patel was re-appointed as a director after retiring by rotation. The meeting concluded at 11:27 am, with all resolutions passed via e-voting as per SEBI guidelines.