IGC Industries Limited (formerly known as IGC Foils Limited) held its 45th Annual General Meeting on September 22, 2026 at 3:00 pm via two-way Video Conferencing and Other Audio-Visual Means, with 76 members in attendance.

Meeting overview

The meeting was chaired by Mr. Ziauddin Mohammed, Director of the company, who welcomed all members and presided over the proceedings. The AGM was conducted in compliance with circulars issued by the Ministry of Corporate Affairs and the Securities and Exchange Board of India. National Securities Depository Limited was appointed to provide e-voting facilities both during the remote e-voting period and at the AGM. The remote e-voting period commenced on September 19, 2026 at 9:00 am and closed on September 21, 2026 at 5:00 pm. Members who had not cast their votes through remote e-voting were provided an opportunity to vote electronically during the AGM, with a 15-minute window available for this purpose.

Resolutions placed before members

Six resolutions were placed before the members, comprising two ordinary business items and four special business items. The following table summarises the agenda:

Scrutiniser and voting results

Mr. Ramesh Chandra Bagdi, Practicing Company Secretary of M/s. Ramesh Chandra Bagdi and Associates, was appointed as Scrutiniser to oversee the voting process in a fair and transparent manner. The Chairman announced that all business set out in the AGM notice had been concluded. The voting results along with the Scrutiniser's Report are to be made available on the company's website and communicated to the stock exchange within 48 hours from the conclusion of the AGM. The 45th Annual General Meeting concluded at 3:25 pm.

IGC Industries has scheduled its 45th Annual General Meeting (AGM) for September 22, 2026. The company reported a net loss of ₹292.97 lakh for FY26, with zero revenue from operations. Statutory auditors issued a disclaimer of opinion due to insufficient evidence on key balances.

The Board approved the agenda during a meeting on August 29, 2026. The session will focus on adopting financial statements for FY26 and approving key corporate governance appointments. The register of members will close from September 16 to September 22, 2026.

Financial Performance and Audit Disclaimer

IGC Industries recorded no revenue from operations in FY26, compared to ₹198.51 lakh in FY25. Total expenses rose to ₹292.97 lakh from ₹204.68 lakh the previous year. Basic EPS was (₹0.84) versus (₹0.02) in FY25.

Statutory auditors M/s Sarang Shivajirao Chavan & Associates disclaimed an opinion on the financial statements. They cited lack of supporting documentation for advances to suppliers and investments in CNX Corporation Limited. The auditors also noted continuous losses raise significant doubt about the company’s going concern status.

AGM and Book Closure Details

The 45th AGM is scheduled for September 22, 2026, at 3:00 pm via Video Conferencing (VC) or Other Audio Visual Means (OAVM). Remote e-voting will be available from September 19 to September 21, 2026. The cut-off date for voting rights is September 15, 2026.

Board Changes and Resolutions

Key agenda items include the re-appointment of Mr. Ziauddin Mohammed as Director (retiring by rotation). The meeting will also approve the appointment of Mukesh Jiut Yadav and Hiren Kishor Patel as Non-Executive Independent Directors, replacing Ms. Hemlata who resigned effective August 25, 2026. Mr. Manoj Kumar Jhawar will be regularized as Director.

The company declared no dividend for FY26. M/s Sarang Shivajirao Chavan & Associates will be re-appointed as Statutory Auditors until the conclusion of the 49th AGM.