Incredible Industries AGM resolutions pass with 99.9% shareholder support
- Incredible Industries published final voting results for its 47th AGM held on September 18, 2026
- All five resolutions passed with support ranging from 99.9981% to 100%
- Promoters abstained from voting on the related-party transaction with Adhunik Corporation Limited
- Total votes polled exceeded 38 million for ordinary business items
*this image is generated using AI for illustrative purposes only.
Incredible Industries has published the final voting results for its 47th Annual General Meeting held on September 18, 2026. Shareholders approved all five proposed resolutions with overwhelming support, including the material related-party transaction with Adhunik Corporation Limited.
The company reported a total of 7,242 shareholders on the record date. A total of 38,102,586 votes were polled across all resolutions, representing approximately 81.48% of outstanding shares for ordinary business items. The promoter group held 35,054,800 shares and voted in favor of all non-related-party resolutions.
Voting Results by Resolution
All resolutions were passed with requisite majority. The detailed voting breakdown is as follows:
| Resolution | Votes Polled | In Favor | Against | % Support |
|---|---|---|---|---|
| Adoption of Audited Financials (FY26) | 38,102,586 | 38,102,480 | 106 | 99.9997% |
| Re-appointment of Sanjay Kaloya | 38,102,586 | 38,102,477 | 109 | 99.9997% |
| Appointment of Statutory Auditors | 38,102,586 | 38,102,477 | 109 | 99.9997% |
| Related-Party Transaction (Adhunik Corp) | 5,702,336 | 5,702,227 | 109 | 99.9981% |
| Cost Auditor Remuneration | 38,102,586 | 38,102,578 | 8 | 100.0000% |
Key Governance Actions
Shareholders approved the adoption of the audited financial statements for the financial year ended March 31, 2026. Mr. Sanjay Kaloya was re-appointed as a Director after retiring by rotation.
M/s. Sudhir Kumar Jain & Associates, Chartered Accountants (Firm Registration No. 318016E), were appointed as Statutory Auditors for a term of five consecutive years. The board also ratified the remuneration of Cost Auditors for the financial year ending March 31, 2027.
Related-Party Transaction Approval
The special resolution approving material related-party transactions with Adhunik Corporation Limited was passed with 99.9981% support from public shareholders. As per regulatory requirements, promoters abstained from voting on this resolution. The approval covers transactions from the conclusion of the 47th AGM until the 48th AGM.
Meeting Details
The meeting was conducted via Video Conferencing / Other Audio Visual Means (VC/OAVM) in compliance with Ministry of Corporate Affairs circulars. CS Mohan Ram Goenka of M/s. M R & Associates served as the Scrutinizer. E-voting was conducted through the CDSL platform, with remote e-voting open from September 15 to September 17, 2026.
Historical Stock Returns for Incredible Industries
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +4.83% | +0.26% | -1.04% | -7.04% | -31.67% | +18.90% |
What specific strategic synergies or financial benefits does Incredible Industries anticipate from the approved related-party transactions with Adhunik Corporation Limited?
How might the re-appointment of Sanjay Kaloya influence the company's operational strategy and leadership continuity for the upcoming fiscal year?
Given the five-year tenure granted to the statutory auditors, what specific governance improvements or audit focus areas has the board outlined for this term?
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