IG Petrochemicals shareholders approved the company’s audited financial statements for the financial year ended March 31, 2026, during its 37th Annual General Meeting held on August 6, 2026. The meeting, conducted via Video Conference and Other Audio Visual Means (OAVM), also saw the approval of key governance resolutions, including the re-appointment of directors and the ratification of auditor remuneration. All resolutions were passed with the requisite majority, reflecting shareholder confidence in the company’s strategic direction and financial management.

The Board of Directors presented the standalone and consolidated financial statements for consideration. Shareholders also approved the declaration of dividend for the financial year ended March 31, 2026. In terms of board composition, Nikunj Dhanuka, who was retiring by rotation, offered himself for re-appointment as a Director and was subsequently re-elected. Additionally, Sagar Jadhav was re-appointed as Executive Director. The shareholders further ratified the payment of remuneration by way of commission to Non-Executive Directors and approved the remuneration of the Cost Auditor.

Governance and Voting Details

The meeting was attended by 44 shareholders through video conferencing, comprising 13 from the Promoters & Promoter Group and 31 from the Public category. As of the cut-off date of July 30, 2026, the total number of shareholders stood at 33,683. The company facilitated remote e-voting in compliance 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.

Remote e-voting commenced on August 3, 2026, at 9:00 a.m. and concluded on August 5, 2026, at 5:00 p.m. Members present at the AGM who had not voted remotely were given an opportunity to cast their votes during the meeting and for 15 minutes after its conclusion. The Scrutinizer supervised the entire e-voting process to ensure compliance with regulatory requirements.

Strategic Outlook and Shareholder Engagement

Nikunj Dhanuka, Chairman of the Company, delivered an address highlighting the company’s performance during the financial year 2025-26. He emphasized the strengthening of the balance sheet through a reduction in foreign currency exposure and the reaffirmation of credit ratings. The Chairman also outlined progress on the Advance Plasticizer project, debottlenecking of DEP capacity, and diversification into Compressed Bio-Gas. Sustainability initiatives and Corporate Social Responsibility activities were noted as key focus areas.

During the session, registered speaker shareholders raised queries regarding the new Plasticizer project, expected revenue growth, capacity utilization, anti-dumping duties, profitability, and industry outlook. The Chairman addressed these concerns, reiterating the company’s commitment to long-term value creation through capacity expansion, product diversification, and prudent financial management. The meeting commenced at 3:00 p.m. and concluded at 3:41 p.m. on August 6, 2026.

I G Petrochemicals Limited delivered a significant operational turnaround in the first quarter of FY27, reporting consolidated EBITDA of ₹1,187.92 crore compared to ₹93.29 crore in Q1FY26. The company returned to profitability with a consolidated net profit after tax of ₹664.41 crore, reversing a loss of ₹129.87 crore in the corresponding period last year. This performance reflects strong demand for its organic chemicals and improved operational efficiencies. The Board of Directors approved the unaudited financial results on August 5, 2026, pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The financial results were prepared in accordance with Indian Accounting Standard 34 (Ind AS 34). Statutory auditors M S K A & Associates LLP and SMMP & Company issued an unqualified limited review report. The company’s total income for the quarter reached ₹6,244.11 crore, up from ₹4,800.65 crore in Q1FY26. Profit before tax stood at ₹903.89 crore, contrasting sharply with a pre-tax loss of ₹155.86 crore in the previous year.

Financial Performance Overview

The quarter’s results highlight a broad-based improvement across key metrics. Standalone total income was ₹6,250.71 crore, with standalone profit before tax at ₹949.18 crore and net profit after tax at ₹709.70 crore. In contrast, the standalone entity reported a net loss of ₹82.14 crore in Q1FY26.

Consolidated earnings per share (basic and diluted) rose to ₹21.57 from a loss of ₹4.22 per share in the prior year. The company’s equity share capital remained unchanged at ₹307.98 crore.

Subsidiary and Auditor Notes

The consolidated results include four subsidiaries: IGPL International Limited, IGPL Energy Limited, IG Biofuels Limited, and IGPL Charitable Foundation. The auditor’s report noted that the interim financial information of these subsidiaries, which reflect a total revenue of ₹21.12 lakh and a net loss of ₹477.11 lakh for the quarter, was not reviewed by their respective auditors but certified by the holding company’s management. Management stated that these figures are not material to the Group. M S K A & Associates LLP and SMMP & Company confirmed that nothing came to their attention to suggest the statements do not comply with Ind AS 34 or contain material misstatements. The company continues to operate in a single reportable segment focused on the manufacture and sale of organic chemicals.