Indian Metals & Ferro Alloys has scheduled a group meeting with institutional investors for Monday, September 21, 2026. The event will take place at the Anand Rathi Annual Flagship Conference G-200 Summit 2026 in Mumbai.

The disclosure was made pursuant to Regulation 30 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that no unpublished price sensitive information will be discussed during the interactions.

Meeting Details

The schedule is subject to change due to exigencies. S R Ray, Company Secretary & Compliance Officer, issued the notice.

Indian Metals & Ferro Alloys Limited shareholders approved the appointment of Dr Deepak Kumar Mohanty as a non-executive independent director and enhanced the commission payable to independent directors via postal ballot on September 10, 2026.

The resolutions were passed through remote e-voting facilitated by NSDL. CA Sourjya Prakash Mohapatra served as the independent scrutinizer for the process. The record date for voting was August 7, 2026.

Key Resolutions Passed

Voting Results

The postal ballot saw participation from 52,826 shareholders on the record date. A total of 37,909,584 votes were polled out of 53,954,106 shares held, representing a 70.26% turnout.

Director Appointment

The special resolution to appoint Dr Deepak Kumar Mohanty (DIN: 09771960) received strong support from the promoter group, which voted 100% in favour. Among public non-institutional shareholders, 99.96% voted in favour. Institutional investors showed slightly more dissent, with 82.23% voting in favour.

Overall, 37,685,110 votes were cast in favour (99.41% of valid votes), while 224,474 votes were cast against (0.59%).

Commission Enhancement

The ordinary resolution to enhance the commission to independent directors received near-unanimous support. Promoter group shareholders voted 100% in favour. Public non-institutional shareholders voted 99.55% in favour, while institutional investors voted 99.99% in favour.

In total, 37,878,616 votes were cast in favour (99.92% of valid votes), with only 30,968 votes against (0.08%).

Director Appointment Details

Dr Deepak Kumar Mohanty was initially appointed as an Additional Director in the capacity of Non-Executive Independent Director effective June 30, 2026. Following the postal ballot approval, he is confirmed for a term of five consecutive years starting from that date. He is not liable to retire by rotation.

Commission Enhancement Structure

The approved resolution supersedes the earlier mandate passed at the 62nd Annual General Meeting held on July 31, 2024. Under the new structure:

• The aggregate commission payable to non-executive independent directors will not exceed 0.5% per annum of the net profits calculated under Section 198 of the Companies Act, 2013.
• The total annual commission cap is set at ₹1,50,00,000 (Rupees One Crore Fifty Lakh only).
• No individual independent director shall receive an aggregate remuneration exceeding ₹25,00,000 (Rupees Twenty-Five Lakh only) per financial year, excluding sitting fees for Board and Committee meetings.

These changes apply with effect from the financial year 2026-27 onwards.