Foseco Crucible shareholders approved all resolutions with near-unanimous support at the company’s 41st annual general meeting held on August 26, 2026. The final dividend of ₹12.5 per equity share for FY26 received 100% of valid votes cast.

The meeting, conducted via video conferencing, also saw the reappointment of Mr. Aniruddha Karve as a director retiring by rotation and the appointment of three new non-executive directors. Voting results were declared by scrutinizer M/s. Prajot Tungare & Associates on August 27, 2026.

Key Resolutions Passed

Shareholders transacted both ordinary and special business items during the session, which commenced at 2:00 pm and concluded at 3:33 pm (IST). A total of 36 shareholders attended physically or via e-voting, constituting a valid quorum. The remote e-voting period ran from August 23 to August 25, 2026.

Ordinary Business

• Adoption of audited financial statements for the year ended March 31, 2026, along with the Board of Directors’ and Statutory Auditors’ reports.
• Declaration of a final dividend of ₹12.5 per fully paid-up equity share for FY26.
• Reappointment of Mr. Aniruddha Karve (DIN: 07180005) as a director.

Special Business

The following appointments were approved:

• Mr. Christopher Graham Lewis (DIN: 11847319) as a non-executive and non-independent director.
• Ms. Juliette Catherine Lowes (DIN: 11845679) as a non-executive and non-independent director.
• Mr. Sunil Kumar Chaturvedi (DIN: 02183147) as a non-executive independent director.
• Approval of commission to independent directors for FY25-26.

Voting Results Breakdown

All resolutions were passed with overwhelming support. The voting data reveals that institutional or large block holders dominated the process, with 9 members casting 4,205,392 votes via e-voting, accounting for 99.99% of the total valid votes. Only 2 members voted via InstaVote during the meeting.

Note: Resolution 7 (Commission to Independent Directors) saw 10 votes cast against it (0.0002%), while all other resolutions had zero dissenting votes.

Governance and Audit

The Statutory Auditors’ Report and Secretarial Audit Report for FY26 contained no qualifications, reservations, adverse remarks, or disclaimers with material impact on the company’s functioning. M/s. Prajot Tungare & Associates served as the scrutinizer for the e-voting process.

Management Commentary

Mr. Aniruddha Karve, Chairman and Non-Executive Director, highlighted the successful integration into the Vesuvius Group during his address. He emphasized the board’s commitment to corporate governance and stakeholder value creation.

Ms. Pooja Jindal, Company Secretary, proposed the vote of thanks, acknowledging the support of shareholders, employees, and partners in navigating a transformational year.

Foseco Crucible (India) Limited reported a net profit of ₹1,029.23 lakhs for the quarter ended June 30, 2026, marking a 78% year-on-year increase from ₹577.22 lakhs in Q1FY25. The robust profitability surge was primarily driven by a 14% rise in revenue from operations to ₹4,867.79 lakhs and a significant expansion in EBITDA margin to 37.35%, up from 21.46% in the prior year period. This performance highlights improved operational efficiency despite the recognition of an exceptional impairment charge during the quarter.

The Board of Directors approved the unaudited financial results at a meeting held on August 3, 2026, in Chhatrapati Sambhaji Nagar. The results were reviewed by the Audit Committee and subjected to a limited review by the statutory auditors, Deloitte Haskins & Sells LLP, in compliance with Regulation 33(3)(a) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company published extracts of the results in Business Standard (English) and Sakal Today (Marathi) on August 4, 2026.

Financial Performance Overview

Revenue from operations stood at ₹4,867.79 lakhs in Q1FY26, compared to ₹4,254.34 lakhs in Q1FY25. Other income declined significantly to ₹52.09 lakhs from ₹211.07 lakhs in the previous year due to lower non-operating gains. Total income for the quarter was ₹4,919.88 lakhs. Total expenses amounted to ₹3,314.46 lakhs, down from ₹3,622.19 lakhs in Q1FY25. Cost of materials consumed was ₹1,604.86 lakhs, while employee benefits expense rose slightly to ₹514.83 lakhs from ₹511.12 lakhs. Depreciation and amortization expenses were recorded at ₹260.15 lakhs.

Impact of Exceptional Items

The company recognized an exceptional item charge of ₹114.33 lakhs during the quarter following a technical and operational review of its manufacturing assets. This impairment loss, inclusive of a GST reversal of ₹14 lakhs, relates to assets no longer expected to generate future economic benefits. Despite this charge, profit before tax rose to ₹1,491.09 lakhs from ₹843.22 lakhs in the prior year. Tax expense for the quarter was ₹461.86 lakhs, comprising current tax of ₹417.27 lakhs and deferred tax of ₹44.59 lakhs.

What the Numbers Show

The sharp expansion in EBITDA margin — from 21.46% to 37.35% — alongside the 14% revenue growth and a 9% decline in total expenses, reflects a meaningful improvement in core operational efficiency. While other income dropped by nearly 75% compared to the previous year, the growth in net profit was driven by primary business activities rather than non-recurring gains. Changes in inventories contributed a negative ₹262.18 lakhs to expenses, reducing the overall cost burden. Earnings per share (basic and diluted) stood at ₹18.38, up from ₹10.31 in Q1FY25. The company's paid-up equity share capital remains unchanged at ₹280.00 lakhs.