Indsil Hydro Power & Manganese declared the voting results for its 36th Annual General Meeting held on September 17, 2026. All eight resolutions put to shareholders were approved with overwhelming support, receiving between 99.96% and 99.99% assent votes.

The meeting was conducted through video conferencing and other audio-visual means in compliance with SEBI listing regulations and Ministry of Corporate Affairs circulars. A total of 51 members representing 1,75,93,259 equity shares participated in the e-voting process facilitated by National Securities Depository Limited.

Voting Results by Resolution

Shareholders approved both ordinary and special resolutions during the proceedings. The final vote counts are detailed below:

Vinod Narsiman, Whole Time Director, chaired the meeting. He noted that the requisite quorum was present and confirmed that the company had utilized NSDL’s platform for remote e-voting and voting during the meeting. The remote e-voting period ran from September 14 to September 16, 2026.

Governance and Compliance

The Chairman informed members that the Secretarial Auditors had certified the implementation of the Indsil Hydro Power and Manganese Limited Employee Stock Option Scheme 2018 in accordance with SEBI regulations. Registers required under the Companies Act, 2013 were made available electronically for inspection.

Statutory Auditor Divya K R & Associates and Secretarial Auditors MDS & Associates LLP participated in the meeting. The scrutinizer, M D Selvaraj of MDS & Associates LLP, oversaw the e-voting process and submitted his combined report on September 17, 2026.

Indsil Hydro Power & Manganese has scheduled its 36th Annual General Meeting for September 17, 2026. The meeting will convene via video conference to address ordinary business, including the adoption of financial statements for FY26 and the reappointment of retiring directors.

The company recently intimated the web-link for its Annual Report 2025-26 to members who have not registered email addresses, as per Regulation 36(1)(b) of the SEBI Listing Regulations. The report is also available on the BSE website and NSDL’s e-voting portal. Hard copies can be requested via email.

The special business agenda includes significant governance resolutions. Shareholders will vote to reappoint Smt. T Kalaivani and Smt. Gayatri Vijaikumar as Non-Executive Independent Directors for a second five-year term commencing August 19, 2027. Additionally, the company seeks approval to extend the payment of commission to non-executive directors for another three financial years.

Financial Performance Context

The financial statements to be adopted at the AGM reflect a contraction in top-line revenue for FY26 compared to the prior year. Sales and other income fell from ₹23,823.12 lakh in FY25 to ₹15,460.28 lakh in FY26. This decline in turnover coincided with a sharp drop in profitability metrics across the board.

Despite the decline in operating performance, reserves and surplus increased to ₹16,999.96 lakh as of March 31, 2026, up from ₹15,682.03 lakh in the previous year. Basic earnings per share stood at ₹5.40 for FY26, down significantly from ₹27.38 in FY25.

Governance Resolutions

The Board proposes to ratify the remuneration of Sri B Venkateswar as Cost Auditor for FY27 at ₹20,000, exclusive of taxes and out-of-pocket expenses. This appointment follows recommendations from the Audit Committee.

Regarding director compensation, the members are asked to approve a ceiling of ₹10,00,000 per annum for non-executive director commissions. This limit applies for three financial years starting April 1, 2027. The resolution notes that this compensation remains payable even in years with inadequate profits or losses, subject to statutory limits under Schedule V of the Companies Act, 2013.

Two directors, Sri Vinod Narsiman and Sri Subbia Thangaraj, retire by rotation and offer themselves for reappointment. Both have served as Whole Time Directors, with Narsiman holding over two decades of experience in the ferro alloy industry.

What the Numbers Show

The divergence between the declining profit after tax and the rising reserves and surplus indicates that the company retained earnings or adjusted reserves during FY26, despite a nearly 80% drop in PAT. While operational profitability contracted sharply alongside revenue, the balance sheet strength remained intact, suggesting no major capital distributions or reserve write-downs occurred during the fiscal year.