IFB Industries approves appointments of three directors via postal ballot

IFB Industries announced that its shareholders have approved the appointment of three directors through a postal ballot process that concluded on June 25, 2026. The resolutions, which sought to restructure the company's board and leadership, received the requisite majority from members. The appointments include Mr. Arup Das as Director and Executive Director, Mr. Manoj Kumar Vijay as Independent Director, and Mr. Sandeep Joseph Abraham as Director and Managing Director & Chief Executive Officer.

The postal ballot was conducted pursuant to Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Remote e-voting was facilitated by the National Securities Depository Limited (NSDL), with the voting period open from May 27, 2026, to June 25, 2026. A total of 177 shareholders participated, casting 32,979,617 votes, representing 81.39% of the total outstanding shares.

Voting Results

The scrutinizer's report, submitted by Atul Kumar Labh of M/s. A.K. Labh & Co., detailed the outcome for each resolution. The table below summarizes the voting figures for the five proposals put to vote.

Resolution	Type	Votes For	Votes Against	% For	% Against
Appointment of Mr. Arup Das as Director	Ordinary	32,898,230	81,387	99.75	0.25
Appointment of Mr. Arup Das as Executive Director	Special	32,868,994	110,623	99.66	0.34
Appointment of Mr. Manoj Kumar Vijay as Independent Director	Special	30,981,974	1,997,645	93.94	6.06
Appointment of Mr. Sandeep Joseph Abraham as Director	Ordinary	32,979,111	506	99.99	0.00
Appointment of Mr. Sandeep Joseph Abraham as MD & CEO	Special	32,979,111	506	99.99	0.00

Key Appointments

Mr. Arup Das (DIN: 08417965) received approval for his roles as Director and Executive Director – Engineering Business. While the promoter group voted entirely in favour, public institutions showed some opposition to the Executive Director appointment, with approximately 4.73% voting against the special resolution.

Mr. Manoj Kumar Vijay (DIN: 00075792) was appointed as an Independent Director. This resolution saw the highest level of opposition, with 85.79% of public institutional votes cast against it, though it still passed with an overall majority of 93.94%.

Mr. Sandeep Joseph Abraham (DIN: 11656222) secured approval for his appointment as Director and as Managing Director & Chief Executive Officer. Both resolutions passed with overwhelming support, garnering 99.99% of the votes in favour. The company stated that the resolutions were deemed passed on June 25, 2026.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.05%	+2.00%	+2.87%	-17.28%	-16.55%	+26.07%

IFB Industries reported a 51% year-on-year increase in profit after tax (PAT) to ₹33.72 crore for Q4FY26, driven by strong operational performance and margin expansion. Revenue from operations for the quarter stood at ₹1456.38 crore, an 11% increase compared to the corresponding period of the previous year. The standalone results for Q4FY26 reflect improved profitability, with the PBDIT margin expanding to 5.54% from 5.29% in the previous year. Earnings per share (EPS) for the quarter stood at ₹8.33 compared to ₹5.50 in Q4FY25.

For the full financial year FY26, the company recorded a revenue of ₹5475.91 crore, a 10% growth over FY25, while PAT for the year rose by 4% to ₹133.34 crore. The company recognized an exceptional item of ₹0.58 crore for the quarter and ₹13.96 crore for the year, in line with the Labor Code notified by the Government of India on November 21, 2025. The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial Performance Summary

Particulars	Q4 FY26 (₹ in Cr)	Q4 FY25 (₹ in Cr)	Growth %
Revenue	1456.38	1311.68	11%
PBDIT	80.72	69.39	16%
PBT (after exceptional item)	45.47	29.34	55%
PAT	33.72	22.29	51%

Segment and Operational Updates

The Home Appliances Division reported revenue of ₹1166.59 crore in Q4FY26, up from ₹1058.43 crore in the previous year. Management highlighted a double-digit growth in front loaders and microwaves, while AC growth was muted. The Engineering Business recorded a revenue of ₹244.79 crore, a 12.30% increase. On a consolidated basis, revenue from operations for Q4FY26 reached ₹1498.20 crore, with consolidated PAT for the quarter standing at ₹42.67 crore.

Management stated that the company is targeting a 20% to 25% growth in the Engineering division over the next 2 to 3 years, with a target EBITDA margin of 17% to 18%. For the Home Appliances division, the company is focusing on product portfolio simplification and cost optimization initiatives to mitigate the impact of commodity and forex fluctuations. The company expects to realize ₹150 crore from cost initiatives in the current financial year.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE559A01017/678b2c68a9dc44c1.pdf