Shareholders of I Power Solutions India Ltd approved all resolutions proposed at its 41st Annual General Meeting (AGM), held on September 28, 2026. The meeting, conducted via video conferencing, saw overwhelming support for the adoption of financial statements and the re-appointment of key board members.

The voting process, scrutinized by Lakshmmi Subramanian & Associates, recorded 47,66,716 valid votes for most ordinary and special resolutions. For the re-appointment of Mr. Rajendra Naniwadekar as Managing Director, one vote representing 27,19,437 shares was marked invalid, leaving 20,47,279 valid votes. Despite this, the resolution passed with a requisite majority.

Key Resolutions Passed

The following items were ratified by the shareholders:

• Adoption of audited financial statements for FY26.
• Re-appointment of Mr. Venugopalan Parandhaman as director retiring by rotation.
• Re-appointment of Mr. Kodanda Ram Babu Punukollu as Independent Director for a second five-year term.
• Re-appointment of Mrs. J. Sujatha as Independent Director for a second five-year term.
• Re-appointment of Mr. Naresh Kumar Bhatt as Independent Director for a second five-year term.
• Re-appointment of Mr. Rajendra Naniwadekar as Managing Director for a further five-year term.

Voting Results Summary

The table below summarizes the voting outcome for the major resolutions. Note that for the Managing Director's re-appointment, valid votes were lower due to an invalid entry.

What the Numbers Show

The voting data reveals a distinct anomaly in shareholder participation across different agenda items. While five resolutions attracted 47,66,716 valid votes, the resolution regarding the Managing Director's re-appointment recorded only 20,47,279 valid votes. This discrepancy stems from one member casting an invalid vote representing 27,19,437 shares, which accounts for nearly 57% of the total votes cast for that specific item. Consequently, the effective voting base for the MD's re-appointment was less than half that of other resolutions, though the margin of support remained near-unanimous.

I Power Solutions India Limited will hold its 41st Annual General Meeting (AGM) on Monday, September 28, 2026, at 11:30 am through video conferencing or other audio-visual means. The meeting is scheduled to transact ordinary and special business items following the approval of audited financial statements.

The Board of Directors approved the financial results during a meeting held on August 28, 2026. The company published newspaper advertisements in Business Standard and Makkal Kural on September 5, 2026, to intimate members about the completion of dispatch of the notice and annual report.

Financial Performance

I Power Solutions reported a net loss of ₹1.00 crore for FY26, widening by 62% from the previous year's loss of ₹0.62 crore. The company recorded zero revenue from operations for the second consecutive year.

Total revenue stood at ₹25.15 lakh, comprising entirely of other income, which rose sharply from ₹1.59 lakh in FY25. This increase was primarily driven by ₹20.52 lakh in profit on the sale of shares through Kellton Securities and ₹4.48 lakh in interest income from fixed deposits.

However, total expenses surged to ₹143.06 lakh from ₹63.45 lakh in the prior year. The rise was largely attributable to ₹117.56 lakh in unrealised losses on the revaluation of investments in shares, compared to ₹34.11 lakh in FY25. Employee benefit expenses also increased to ₹5.00 lakh from ₹1.80 lakh.

Balance Sheet and Capital Structure

The company’s paid-up equity capital increased to ₹5.89 crore from ₹4.45 crore following a preferential allotment of 14.50 lakh equity shares at ₹20 per share during the year. The proceeds were utilized for business operations and working capital requirements.

Long-term borrowings declined significantly to ₹4.42 lakh from ₹213.91 lakh, reflecting the repayment of inter-corporate deposits. Cash and cash equivalents rose to ₹45.97 lakh from ₹32.95 lakh, supported by an increase in current investments to ₹166.83 lakh.

Corporate Governance and AGM Details

The AGM agenda includes the reappointment of Managing Director Rajendra Naniwadekar and three independent directors: Kodanda Ram Babu Punukollu, Naresh Kumar Bhatt, and Sujata Jonnavittula, each for a second consecutive term of five years. Venugopalan Parandhaman retires by rotation and offers himself for reappointment.

Remote e-voting will be open from September 25, 2026, to September 27, 2026. The register of members will remain closed from September 22, 2026, to September 28, 2026. Central Depository Services Limited (CDSL) has been appointed as the e-voting intermediary, with M/s Lakshmi Subramanian & Associates serving as the scrutinizer.