India Cements Capital shareholders approved all resolutions at its annual general meeting held on September 15, 2026. The company disclosed the voting outcomes under Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The meeting addressed four key agenda items, including the adoption of audited standalone and consolidated financial statements for the fiscal year ended March 31, 2026. Shareholders also voted on the reappointment of V. Manickam as a non-executive non-independent director and K. Suresh as manager of the company.

Voting Participation

Out of 15,822 shareholders on the record date, participation was driven primarily by promoter holdings. The promoter and promoter group held 10,858,186 shares, representing approximately 50% of the total outstanding shares of 21,706,200. These promoters cast votes in favor of all resolutions via e-voting.

Public non-institutional shareholders held 10,847,414 shares. Their participation rate was low, with only 1.68% of their shares polled. Public institutional shareholders held a nominal 600 shares and did not participate in the voting process.

Resolution Outcomes

All resolutions were passed with the requisite majority. The detailed voting results are outlined below:

The reappointment of K. Suresh as manager saw slightly higher dissent compared to other agenda items, with 12,993 votes cast against the resolution. This opposition came entirely from public non-institutional shareholders via remote e-voting.

What the Numbers Show

The voting pattern highlights a significant divergence in engagement between promoter and public shareholders. While the promoter group participated fully with a 100% poll rate on their holdings, public non-institutional investors showed minimal engagement, polling only 1.68% of their shares. Despite this low overall participation from the public segment, the resolutions passed comfortably due to the uniform support from the promoter group, which holds a controlling stake in the company.

India Cements Capital Limited held its 40th annual general meeting on September 15, 2026, reporting a decline in gross revenue and net income for the fiscal year ended March 31, 2026.

The company recorded gross revenue of ₹25,774.79 lakh, down from ₹29,764.17 lakh in the previous year. Net income stood at ₹364.37 lakh, compared to ₹387.22 lakh in FY25. The meeting was conducted via video conferencing in compliance with Ministry of Corporate Affairs guidelines.

Financial Performance

Gross revenue contracted by approximately 13.4% year-on-year. Net income declined by roughly 5.9%. Other operating income rose slightly to ₹80.28 lakh from ₹77.75 lakh, while other income fell to ₹35.55 lakh from ₹39.08 lakh.

In the first quarter of FY27 (April-June 2026), gross income was ₹124.13 lakh, lower than the ₹136.31 lakh earned in the corresponding period of the previous year.

Subsidiary Results

Wholly owned subsidiary India Cements Investment Services Limited saw its turnover drop significantly to ₹42,441 lakh from ₹71,551 lakh. Income fell to ₹53.78 lakh from ₹88.01 lakh. Cash market turnover declined to ₹27,897 lakh from ₹45,707 lakh, while Futures and Options segment turnover fell to ₹14,544 lakh from ₹25,844 lakh.

What the Numbers Show

The subsidiary’s turnover decline of over 40% outpaced the parent company’s revenue contraction of 13.4%, indicating a sharper slowdown in trading volumes or transaction values at India Cements Investment Services Limited compared to the consolidated entity.

Change in Promoter Holding

Promoter Sri Saradha Logistics Private Limited entered into a share purchase agreement on July 24, 2026, to sell its entire holding of 10,858,186 equity shares (50.02% stake) to Sandeep Jain, Vikas Garg, and Rahul Nagar at ₹12 per share. The acquirers launched an open offer for up to 26% of the voting share capital at the same price, subject to regulatory approvals including those from the Reserve Bank of India.

AGM Proceedings

Chairman V. Manickam presided over the meeting. Shareholders adopted the audited standalone and consolidated financial statements. The assembly also approved the reappointment of V. Manickam as a non-executive non-independent director beyond age 75 and reappointed K. Suresh as manager until September 30, 2027.