Foseco India Limited held its 69th Annual General Meeting (AGM) on June 10, 2026, through video conferencing, concluding at 1532 Hours IST. The meeting saw the approval of the audited standalone and consolidated financial statements for the financial year ended December 31, 2025. A key outcome was the declaration of a final dividend of ₹25 per share, equivalent to 250%, on the paid-up equity share of ₹10 each for the same financial year.

The Chairperson, Mr. Ravi Kirpalani, chaired the meeting, which was attended by all directors except Mr. Patrick Georges Felix Andre. The meeting was conducted with a quorum present, including representatives of the Statutory Auditor, Secretarial Auditor, and Cost Auditor. The Chairperson noted that the Auditor's Report on the Annual Accounts for the financial year ended December 31, 2025, contained no qualifications, observations, or comments having an adverse effect on the company's functioning.

Voting and Resolutions

Shareholders voted on eight resolutions through remote e-voting, which was open from June 6, 2026, to June 9, 2026, and via e-voting during the AGM. The resolutions included the adoption of financial statements, dividend declaration, and the appointment of directors.

Key Attendees and Procedures

The meeting was attended by senior executives, including Mr. Prasad Chavare, Managing Director & Chief Executive Officer, and Mr. Mohit Mangal, Chief Financial Officer. Mr. Jayavant B. Bhawe was appointed as the Scrutiniser to oversee the e-voting process. The company facilitated a live webcast, and the recording of the proceedings will be available on the company's website.

Foseco India Limited delivered a strong financial performance for FY25, reporting a 15.1% increase in standalone revenue to ₹60,402 lakhs, driven by disciplined execution and a favourable product mix. The company's Profit After Tax stood at ₹7,522 lakhs, with an Earnings Per Share of ₹114.94, reflecting efficient working capital management and volume-led growth. On a consolidated basis, revenue from operations reached ₹64,342 lakhs, achieving a Profit Before Tax margin of 19.8%.

The company's strategic progress included the acquisition of a 75% controlling stake in Morganite Crucible (India) Limited, now renamed Foseco Crucible (India) Limited (FCIL). This move strengthens Foseco India's position in high-performance materials and specialised crucible technologies, particularly within the non-ferrous segment. The acquisition enhances the company's ability to leverage the Vesuvius Group's global R&D network and offer a broader range of solutions.

Innovation remained a priority, with the company investing ₹198 lakhs in domestic R&D initiatives during the year. Key product introductions included INSTA Coatings for ferrous castings, Airless Spray Coating Systems for improved surface finishes, and ROTOCENE Technology for steel foundries to minimize rework costs. These advancements aim to reduce casting defects and improve customer outcomes through proprietary simulation and application technologies.

Foseco India continued its focus on operational excellence and safety, with all 376 employees receiving health, safety, and skills development training. The company's Pune facilities maintained international certifications, including ISO 9001, ISO 14001, and ISO 45001. These efforts contributed to the company's re-certification as a Great Place to Work, with employee engagement scores comparing strongly across the Vesuvius Group's foundry businesses.

Corporate Social Responsibility initiatives for the year totaled ₹161 lakhs, focusing on healthcare, education, and local infrastructure. Partnerships included support for children with Type 1 Diabetes via Jehangir Hospital, scholarships for meritorious girl students at the College of Engineering Pune, and infrastructure development with the Rotary Foundation. The company also implemented village sanitation initiatives, including solar streetlights and Water ATM installations.

Looking ahead, Foseco India is positioned for growth with a debt-free balance sheet, strong customer relationships, and a diversified product portfolio. The company declared a total dividend of ₹1,597 lakhs for the year, consistent with its philosophy of generating long-term wealth for stakeholders. The 69th Annual General Meeting was held on June 10, 2026, via Video Conferencing.

Financial Highlights