Foundry Fuel Products Limited disclosed the detailed voting results of its 62nd Annual General Meeting held on September 30, 2026. All three resolutions proposed in the notice were approved by shareholders with the requisite majority.

The meeting, conducted via video conferencing, commenced at 3:30 pm and concluded at 3:55 pm. Nikesh Oswal served as the Chairman. A total of 47 members attended the virtual gathering, ensuring the requisite quorum under Section 103 of the Companies Act, 2013. Avinash Landge, Chief Financial Officer, briefed members on the company's financial performance for FY26.

Voting Results Breakdown

Shareholders voted on three key resolutions using the remote e-voting facility provided by Central Depository Services (India) Limited. The voting period ran from September 27 to September 29, 2026. The combined voting results indicate strong support from the promoter group, which holds a significant stake, while public non-institutional investors showed mixed participation.

The promoter and promoter group voted unanimously in favour of all resolutions, casting votes representing 54,81,186 shares. Public non-institutional shareholders cast votes representing 53,716 shares, with 52,768 shares voting against the resolutions and 948 shares voting in favour. This resulted in an overall approval rate of 99.05% across all items.

Governance and Compliance

The meeting was held in compliance with circulars issued by the Ministry of Corporate Affairs and the Securities and Exchange Board of India regarding meetings through Video Conferencing or Other Audio Visual Means. Debendra Raut served as the Secretarial Auditor and Scrutinizer, while Ramesh Chand Bohra acted as the Statutory Auditor. Both participated remotely.

Following the meeting, the scrutinizer submitted consolidated voting results to the stock exchanges and depositories within the prescribed regulatory timelines. No other business was transacted during the session.

Foundry Fuel Products will hold its 62nd Annual General Meeting on September 30, 2026. The meeting will be conducted via video conferencing to adopt the financial statements for the year ended March 31, 2026.

The agenda includes ordinary and special business items for shareholder approval.

Key Agenda Items

Shareholders will consider the following resolutions:

• Adoption of Financial Statements: Approval of the audited balance sheet, profit and loss account, and cash flow statement for FY26. The company reported a net loss of ₹25.76 lakh for the year, compared to a loss of ₹24.69 lakh in the previous year.
• Director Re-appointment: Re-appointment of Mr. Pushkar Laxmichand Galav, who retires by rotation and is eligible for re-election.
• Independent Director Appointment: Appointment of Mrs. Sneha Parth Sharma as an Independent Director for a five-year term from February 12, 2026, to February 11, 2031.

Meeting Logistics

The meeting is scheduled for 3:30 pm on Wednesday, September 30, 2026. In compliance with Ministry of Corporate Affairs and SEBI circulars, the event will be held through Video Conferencing or Other Audio Visual Means without physical presence.

The deemed venue is the company’s registered office in Kolkata. Shareholders holding shares as of the cut-off date, September 23, 2026, are eligible to vote. Remote e-voting will be available from September 27 to September 29, 2026. The register of members and share transfer books will remain closed from September 24 to September 30, 2026.

Financial Performance

The company has not recorded any revenue since operations were closed in 2010 due to working capital shortages. The increase in net loss was driven by higher finance costs, which rose to ₹8.89 lakh from ₹7.62 lakh in the prior year. Interest payable to the holding company, Castron Mining Limited, increased to ₹35.45 lakh from ₹27.63 lakh.

What the Numbers Show

Foundry Fuel Products remains entirely dependent on its holding company for liquidity. Borrowings from Castron Mining Limited increased by 16% to ₹123.32 lakh in FY26. With no operational revenue and fully depreciated fixed assets, the company’s negative equity widened to ₹150.03 lakh, underscoring its reliance on external fund infusion to maintain going concern status.