Indo National Ltd declared a final dividend of ₹3.75 per equity share for the financial year ended March 31, 2026, during its 53rd Annual General Meeting (AGM) held on September 28, 2026.

The meeting was conducted via Video Conferencing (VC) in compliance with Ministry of Corporate Affairs and SEBI circulars. The session commenced at 3:00 pm and concluded at 3:43 pm, with e-voting results to be disclosed to stock exchanges within 48 hours.

Key resolutions passed

Shareholders approved several ordinary and special business items during the proceedings:

• Adoption of standalone and consolidated financial statements for FY26.
• Declaration of dividend at ₹3.75 per equity share (75% of face value of ₹5 each).
• Appointment of Ms. Suneeta Reddy as Director liable to retire by rotation.
• Approval of remuneration payable to the Cost Auditor for FY27.
• Payment of commission/remuneration to Non-Executive Independent Directors.

Meeting attendance and governance

The company reported that 14,582 shareholders were on the register as of the book closure date. A total of 58 shareholders attended the meeting through video conferencing, satisfying the quorum requirements.

Ms. Deepa Seshadri, Chairman and Independent Director, presided over the meeting. The Company Secretary confirmed that the Statutory Auditors' report and Secretarial Audit report for FY26 contained no qualifications or adverse remarks. Consequently, these reports were not read out in full, adhering to the provisions of the Companies Act, 2013.

Directorship updates

The appointment of Ms. Suneeta Reddy as a Director was ratified by the members. She joins the board alongside existing directors including Managing Director P. Dwaraknath Reddy and Independent Director Murali Subramaniam. The board also included Director BLN Prasad.

Key managerial personnel present included CEO Pavan Kumar BVS and CFO S.R. Aravind Kumar. The statutory auditor R. Ravishankar and scrutinizer M. Damodaran were also in attendance.

Indo National Limited has approved a ₹3.91 crore investment in Axial Aero Private Limited to acquire a 7.97% stake on a fully diluted basis. The Board of Directors sanctioned the deal during its meeting held on September 17, 2026.

The transaction involves the subscription of 35,249 Class C Compulsorily Convertible Preference Shares (CCPS). Indo National will pay ₹1,109.10 per share as part of Axial Aero’s Pre-Series A-1 funding round. This move follows the company’s exercise of pre-emptive rights under Axial Aero’s charter documents.

Transaction Details

The investment is structured through a Share Subscription Agreement and a Shareholders’ Agreement with Axial Aero and its promoters. The deal is subject to the fulfillment of identified conditions precedent and the completion of investments by other investors in the same round.

Strategic Rationale

Axial Aero is engaged in developing flight simulation technologies and digital terrain technologies for both military and commercial domains. Indo National currently holds Class B non-cumulative compulsorily convertible preference shares in the entity. This new investment increases its exposure to the aerospace technology sector.

Governance Rights

Under the terms of the agreement, Indo National retains the right to nominate one member to the board of directors of Axial Aero. The company had already exercised this right following its previous investment round. The transaction is not classified as a related-party deal, as Axial Aero and its promoters are unrelated to Indo National’s promoter group.