Flomic Global Logistics shareholders approved all four ordinary resolutions at the company's 45th annual general meeting held on September 11, 2026. The voting results, scrutinized by M/s. HD and Associates, confirm unanimous or near-unanimous support for the adoption of FY26 accounts and key management appointments.

The meeting was conducted via video conferencing, with 54 members attending out of a total shareholder base of 5,848 as on the record date. The session commenced at 4:00 pm and concluded at 4:32 pm.

Voting Results

Shareholders voted on two ordinary business items and two special business items. Remote e-voting was available from September 8 to September 10, 2026, with additional e-voting during the meeting.

Key Observations

The resolution for the reappointment of Mr. Satyaprakash Pathak saw 45,996 invalid votes, which were excluded from the count as per regulatory requirements for interested shareholders. Similarly, the guarantee fee payments to Managing Director Mr. Lancy Barboza and Non-Executive Non-Independent Director Mrs. Anita Lancy Barboza resulted in 10,869,830 invalid votes each, representing the promoter group's abstention due to conflict of interest.

Despite the high number of invalid votes on the special business items, the resolutions received overwhelming support from public non-institutional shareholders. For the guarantee fee approvals, 99.99% of valid votes polled were in favour.

Mr. Lancy Barboza, Chairman, led the proceedings. Mr. Abhinandan Gupta, Chief Financial Officer, presented an overview of the company's business and financial performance for the fiscal year under review. Mr. Abhay Shah, Company Secretary & Compliance Officer, briefed members on e-voting procedures.

Flomic Global Logistics reported a sharp contraction in profitability for FY26, with net profit falling 91.6% year-on-year to ₹31.01 lakh. The decline followed a 13.7% drop in revenue from operations to ₹4,317.3 lakh, reflecting softer global freight demand and pricing pressures across key logistics segments.

Financial Performance

Revenue from operations stood at ₹4,317.3 lakh in FY26, down from ₹5,001.5 lakh in the previous fiscal year. EBITDA declined to ₹383.6 lakh, with the margin contracting to 8.9% from the prior year's levels. Profit before tax (PBT) fell sharply to ₹69.2 lakh from ₹474.6 lakh in FY25.

The company attributed the revenue decline to fluctuating freight rates and evolving trade patterns. Despite the top-line pressure, management focused on cost optimization and operational efficiency to sustain margins.

What the Numbers Show

A significant divergence exists between the company's operating cash generation and its bottom-line profitability. While net profit fell to ₹31.01 lakh, cash generated from operations rose substantially to ₹5,938.4 lakh, up from ₹2,205.0 lakh in FY25. This improvement was driven largely by a ₹1,717.3 lakh decrease in trade receivables, indicating tighter working capital management and improved collection efficiency despite lower overall sales volumes.

Balance Sheet and Dividends

Total assets decreased to ₹1,781.6 lakh from ₹2,093.5 lakh in the previous year. Lease liabilities, a major component of the balance sheet due to the company's asset-light warehousing model, saw the non-current portion reduce to ₹3,902.7 lakh from ₹5,318.9 lakh.

The Board of Directors did not recommend any dividend for FY26, opting to conserve resources for business stability. In contrast, a final dividend of ₹0.10 per share was paid for FY25.