IMEC Services has scheduled its 38th Annual General Meeting for September 25, 2026, at 3:00 pm (IST). The meeting will address key board appointments and the adoption of financial results for FY26.

The company will hold the meeting through video conferencing or other audio-visual means. Remote e-voting will open on September 22, 2026, and close on September 24, 2026. The record date for voting eligibility is September 18, 2026. Electronic copies of the notice and annual report will be sent only to members with registered email addresses.

Board Appointments

Shareholders will vote on two special resolutions regarding board composition:

• Girdhari Sagarvanshi as Whole-time Director and Chief Executive Officer. He holds a Bachelor's Degree and has over 20 years of management experience. His five-year term begins on August 14, 2026.
• Anjali Jain as Independent Woman Director. She is an Associate Member of the Institute of Company Secretaries of India with over nine years of compliance experience. Her five-year term also starts on August 14, 2026.

Additionally, Rajesh Soni, a Non-Executive Director with over 26 years of steel industry experience, retires by rotation and offers himself for re-appointment.

Financial Performance FY26

The company reported a sharp contraction in operating revenue for FY26 compared to the prior year.

The company incurred a pre-tax loss of ₹213.86 lakh in FY26, driven by lower operating income. Service-related business initiatives had not yet reached anticipated revenue levels. Despite the operational loss, the company reported a net profit of ₹621.05 lakh, aided by other income and tax adjustments.

What the Numbers Show

A significant divergence exists between the company's operational performance and its bottom-line result. While revenue from operations collapsed by 99.2% to just ₹23.01 lakh, the company still posted a net profit of ₹621.05 lakh. This indicates that the reported profitability is not driven by core business operations but likely stems from non-operating items or tax benefits, as the pre-tax position was negative at (₹213.86 lakh). The net worth increased by 23.1% to ₹3,318.76 lakh, reflecting the retention of these profits despite the operational downturn.

Remuneration Details

The proposed remuneration for Mr. Sagarvanshi includes a basic salary of ₹5,77,50 per month. Perquisites, allowances, and variable pay will be determined by the Nomination and Remuneration Committee. The appointment is subject to Schedule V of the Companies Act, 2013, due to inadequate profits for managerial remuneration under Section 197.

IMEC Services reported a standalone net loss of ₹48.49 lakh for the quarter ended June 30, 2026, compared to a net loss of ₹55.02 lakh in the corresponding period of FY25. The company’s total revenue from operations for the quarter was ₹6.43 lakh, up from a negative ₹0.63 lakh recorded in Q1FY26.

The results were reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on August 14, 2026. The financial statements for the quarter have been audited by the company’s statutory auditors.

Financial Performance

The company posted a pre-tax loss of ₹48.49 lakh for the quarter, identical to its post-tax loss due to no tax provision being made. In contrast, the preceding quarter (Q4FY26) saw a reported net profit after tax of ₹769.77 lakh, though this included exceptional items that reversed the operational loss trend seen in earlier periods.

What the Numbers Show

A significant divergence exists between the company’s operational performance and its reported bottom line in the preceding quarter. While IMEC Services reported a substantial net profit of ₹769.77 lakh in Q4FY26, its pre-tax loss for that same period was ₹73.60 lakh. This indicates that the profit in Q4FY26 was driven entirely by exceptional items or other income rather than core operations, a pattern that continued into Q1FY27 where the pre-tax and post-tax losses remained identical at ₹48.49 lakh.

Balance Sheet Position

As on June 30, 2026, the company’s equity share capital remained unchanged at ₹190.00 lakh. Reserves, excluding revaluation reserves, stood at ₹3,138.76 lakh. The earnings per share for the quarter were negative ₹2.55, compared to negative ₹2.90 in the previous year.