IG Petrochemicals shareholders approved the company’s audited financial statements for FY26, declared a dividend, and re-appointed key directors during its 37th Annual General Meeting held on August 6, 2026. The meeting, conducted via Video Conference and Other Audio Visual Means (OAVM), saw near-unanimous support for ordinary business resolutions, while the re-appointment of Executive Director Sagar Jadhav recorded the highest dissent among special resolutions. All proposals were passed with the requisite majority under the Companies Act, 2013.

The Board of Directors presented standalone and consolidated financial statements for adoption. Shareholders also ratified remuneration for Non-Executive Directors and the Cost Auditor. Nikunj Dhanuka, retiring by rotation, was re-elected as Director. The voting process complied with Section 108 of the Companies Act, 2013, Rule 20 of the Companies (Management and Administration) Rules, 2014, and Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Martinho Ferrao & Associates served as the Scrutinizer.

Voting Results and Participation

Remote e-voting commenced on August 3, 2026, at 9:00 a.m. and concluded on August 5, 2026, at 5:00 p.m. As of the cut-off date of July 30, 2026, the company had 33,683 shareholders. A total of 44 shareholders attended the AGM via video conferencing: 13 from the Promoters & Promoter Group and 31 from the Public category. The total shares eligible for voting stood at 30,794,850.

Governance and Shareholder Engagement

Promoter & Promoter Group shareholders voted in favor of all resolutions, holding 21,167,142 shares (76.44% of total votes polled). Public institutional investors also supported all resolutions unanimously. However, Public Non-Institutional shareholders showed dissent on several items, particularly against the re-appointment of Sagar Jadhav, where 25.09% of polled votes were cast against the resolution. This accounted for the majority of the 169,918 votes against his appointment.

Nikunj Dhanuka, Chairman, highlighted balance sheet strengthening through reduced foreign currency exposure and reaffirmed credit ratings. He outlined progress on the Advance Plasticizer project, debottlenecking of DEP capacity, and diversification into Compressed Bio-Gas. Registered shareholders raised queries regarding the new Plasticizer project, revenue growth, capacity utilization, anti-dumping duties, and industry outlook. The Chairman addressed these concerns, emphasizing long-term value creation through capacity expansion and prudent financial management. The meeting concluded at 3:41 p.m. on August 6, 2026.

IG Petrochemicals has announced plans to develop an organic waste-to-biogas project, incorporating Compressed Biogas (CBG) technology. The company is targeting mechanical completion of the project by Q2 FY27, signalling a strategic move into the renewable energy and sustainable waste management domain.

Project Overview

The initiative involves converting organic waste into biogas, with the output processed as Compressed Biogas. The following key details have been disclosed regarding the project:

Strategic Direction

The organic waste-to-biogas project represents IG Petrochemicals' entry into the clean energy segment, leveraging CBG technology to process organic waste streams. Compressed Biogas is increasingly being recognised as a viable renewable fuel alternative, and this project aligns with broader industry trends toward sustainable energy solutions. The mechanical completion target of Q2 FY27 provides a near-term milestone for the project's progress.