Indo SMC has scheduled its fifth annual general meeting for September 30, 2026. The virtual meeting will address the re-appointment of Executive Director Chaitanya Patel and ratify cost auditor fees.

The company seeks shareholder approval for a special resolution to appoint Mr. Patel as Executive Director for three years, from September 4, 2026, to September 3, 2029. The proposed maximum annual remuneration is ₹50.00 lakh, a significant increase from his previous draw of ₹12,02,400 per annum. Mr. Patel, a promoter and founder, oversees daily operations and production processes.

What the Numbers Show

The proposed remuneration structure reflects a substantial adjustment in compensation for key managerial personnel. While the company reported a net profit of ₹32,38,29,993 for the fiscal year ended March 31, 2026, the new cap on Mr. Patel’s pay represents less than 0.16% of that profit figure. This suggests the board views the increased compensation as aligned with the company’s scale, which posted total revenue of ₹3,10,49,53,135 in FY26.

Financial Performance Context

The explanatory statement accompanying the notice highlights the company’s financial standing as of March 31, 2026. Total expenses, excluding depreciation, stood at ₹2,69,95,86,396 against total revenue of ₹3,10,49,53,135. Depreciation charges were recorded at ₹1,43,95,257. The company maintains reserves and surplus of ₹1,31,25,95,297 against a paid-up capital of ₹22,85,53,500.

Other Agenda Items

Shareholders will also vote on an ordinary resolution to ratify the remuneration of M/s. Kishore Kumar & Co., Cost Accountants. The firm will receive ₹1,25,000 per annum plus applicable taxes and out-of-pocket expenses for auditing cost records for the financial year ending March 31, 2027. Additionally, Mr. Neel Niteshbhai Shah retires by rotation and offers himself for re-appointment as a director.

The meeting will be conducted via video conferencing or other audio-visual means in compliance with Ministry of Corporate Affairs circulars. Remote e-voting will be available from September 27 to September 29, 2026.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE0WKY01013/3459d717-22ec-41e5-864c-8d1e9e8b07e7.pdf

Indo SMC Ltd appointed Chaitanya Patel as executive director and Anand Santosh Saraogi as chief financial officer during its board meeting on September 4, 2026. The appointments coincide with the resignation of outgoing CFO Neel Niteshbhai Shah.

The board also appointed M/s Vishal Khokhar & Associates as internal auditors and M/s Kishore Kumar & Co. as cost auditors for FY27.

Leadership Changes

The Nomination and Remuneration Committee recommended Patel’s appointment as executive director for a three-year term effective September 4, 2026. Patel, a founder promoter aged 28, oversees production processes at the company’s Pirana plant. His appointment is subject to member approval at the general meeting.

Shah resigned as CFO citing an inability to devote sufficient time to company affairs. The Audit Committee recommended Saraogi, a Chartered Accountant with over 13 years of experience in finance and accounts, to succeed him effective immediately.

Auditor Appointments

The board approved the following auditor appointments for the financial year 2026-27:

Vishal Khokhar & Associates has conducted internal audits for clients including Kiri Industries Limited and Home First Finance. Kishore Kumar & Co. serves over 20 companies across sectors such as textiles, base metals, and plastics for cost audit and record maintenance.

Regulatory Compliance

The disclosures were made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023. The meeting concluded at 6:20 pm.