Incon Engineers passes all resolutions at 56th AGM
Incon Engineers Limited held its 56th Annual General Meeting on July 16, 2026, adopting the audited financial statements for the year ended March 31, 2026. Shareholders approved the re-appointment of a director and authorized several key resolutions including material related party transactions and strategic land conversion initiatives under the Hyderabad Industrial Lands Transformation Policy (HILTP). All six resolutions were passed with the requisite majority, with 99.999% of votes cast in favour for ordinary and special businesses.
*this image is generated using AI for illustrative purposes only.
Incon Engineers Limited announced the e-voting results for its 56th Annual General Meeting held on July 16, 2026, confirming that all six proposed resolutions were passed with the requisite majority. The meeting, which took place at the company's registered office in Hyderabad, saw the adoption of audited financial statements for the year ended March 31, 2026, and the approval of key strategic authorizations including land conversion under the Hyderabad Industrial Lands Transformation Policy (HILTP). Shareholders authorized the Board to identify alternatives for converting industrial land near the Outer Ring Road to Multi-Use Zones.
Ms. Sridevi Madati, a Practicing Company Secretary from MNM & Associates, served as the Scrutinizer for the remote e-voting and physical ballot processes. The remote e-voting facility, facilitated by NSDL, was open from July 13, 2026, to July 15, 2026. A total of 113 members cast their votes through remote e-voting, while 4 members voted at the venue. The detailed voting results were submitted to the exchanges under Regulation 44 of the SEBI (LODR) Regulations, 2015.
Resolutions Passed
The meeting transacted six items, covering both ordinary and special business. The resolutions included the adoption of financial reports, the re-appointment of a director, and corporate actions related to land use and loans.
| S.No | Particulars of Resolutions |
|---|---|
| Ordinary Business | |
| 1 | Adoption of Audited Statement of Profit & Loss for the financial year ended 31 March, 2026 and the Audited Balance Sheet as at that date together with the reports of the Board of Directors and Auditors thereon. |
| 2 | Re-Appointment of Director in place of Dr. B. Neeta Kumari (DIN.00313522) who retires by rotation and being eligible, offers herself for re-appointment. |
| Special Business | |
| 3 | Approval for Material Related Party Transaction |
| 4 | Authorization to any Director for identifying possible alternatives pursuant to Government Of Telangana G.O.Ms.No.27 Dated 22.11.2025 and Operational Guidelines through G.O.No.18 dated 22.05.2026 specifying Industries & Commerce Department - "Hyderabad Industrial Lands Transformation Policy (HILTP)" for the strategic conversion of Industrial Land within and near the Outer Ring Road (ORR) to Multi-Use Zones and pursuant to Section 180(1)(a) of The Companies Act, 2013 and Regulation 37A of Sebi (LODR) Regulations 2015. |
| 5 | Authorization under Section 186 of the Companies Act, 2013 |
| 6 | Approval for giving Loan or Guarantee or providing Security in connection with loan availed by any of the Company's entities or any other person specified under Section 185 of the Companies Act, 2013. |
Voting Results Summary
The resolutions received overwhelming support from shareholders. For the ordinary resolutions concerning financial statements and director re-appointment, 99.999% of the valid votes were cast in favour. The special resolutions, including those for related party transactions and land conversion, also secured the necessary majority. The resolution for land conversion required a simple majority of votes cast by public shareholders, which was also achieved with 99.99% approval from that category.
| Resolution Type | Votes In Favour | Votes Against | % In Favour |
|---|---|---|---|
| Ordinary Resolutions | 3,067,643 | 25 | 99.999% |
| Special Resolutions | 3,067,643 | 25 | 99.999% |
| Public Shareholders (Resolution 4) | 265,913 | 25 | 99.99% |
Historical Stock Returns for Incon Engineers
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -4.97% | +13.18% | -7.49% | +143.31% | +152.20% | +170.86% |
What is the estimated timeline for the Board to identify and execute specific land conversion projects under the HILTP framework?
How will the strategic shift to Multi-Use Zones near the Outer Ring Road impact Incon Engineers' capital expenditure and revenue streams in the coming fiscal year?
What specific types of loans or guarantees will be authorized under Section 185, and which subsidiaries or entities are the primary beneficiaries?
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