Infra Industries Limited concluded its 37th Annual General Meeting on September 24, 2026, via video conferencing. Shareholders approved the adoption of standalone financial statements for FY26 and ratified key governance changes, including the appointment of two non-executive directors and a secretarial auditor.

The meeting, held in compliance with SEBI and MCA circulars, saw participation from one promoter group shareholder and 20 public shareholders. The board reported that the independent audit report and secretarial audit report contained no major remarks for the fiscal year ended March 31, 2026.

Governance and leadership changes

Members voted to appoint Mr. Avesh Dhelawat and Mr. Manish B. Jain as Non-Executive Directors of the company. Additionally, M/s Deep Shukla & Associates was appointed as the Secretarial Auditors. These appointments align with the company’s efforts to strengthen its governance framework under the Companies Act, 2013.

The following resolutions were transacted during the meeting:

Voting and participation details

Voting was conducted through remote e-voting and electronic voting during the meeting, managed by Purva Sharegistry India Pvt Ltd. The remote e-voting window opened on September 21, 2026, and closed on September 23, 2026. No queries or questions were received from shareholders prior to the conclusion of the meeting.

The board noted that proxy appointment facilities were not available due to the virtual nature of the AGM. The meeting was chaired by Mr. Gaurishankar Jhalani, Chairman and Non-Executive Director, with Mr. Sanjay Kumar Jain, Whole-time Director and CFO, addressing shareholders on the company’s progress.

Infra Industries Limited reported a significant turnaround in its financial performance for FY26, with revenue from operations surging nearly 90% year-on-year. The company’s net loss narrowed substantially as operational efficiency improved amidst rising sales in the water tank segment.

The 37th Annual General Meeting (AGM) is scheduled for September 24, 2026, via video conferencing. Shareholders on record as of September 24, 2026, will be eligible to vote. The notice includes resolutions for adopting audited financials, appointing directors, and altering the Memorandum of Association.

Financial Performance

Revenue from operations grew by ₹110.07 lakh to ₹233.03 lakh in FY26, compared to ₹122.96 lakh in FY25. This growth was driven primarily by increased sales of water tanks, which contributed ₹232.81 lakh to total revenue.

Despite higher revenues, the company incurred a net loss of ₹170.53 lakh for the year ended March 31, 2026, a reduction from the ₹216.66 lakh loss reported in FY25. Total expenses rose to ₹404.97 lakh from ₹341.73 lakh, largely due to higher raw material consumption and employee benefit expenses.

Finance costs increased to ₹65.22 lakh from ₹53.40 lakh, reflecting higher interest on term loans. Depreciation and amortization expenses remained relatively stable at ₹27.86 lakh. Other income declined slightly to ₹1.45 lakh from ₹1.88 lakh.

Corporate Governance and Board Changes

The Board of Directors recommended the re-appointment of Mr. Sanjay Kumar Jain as Whole-Time Director and CFO. Additionally, shareholders are sought to approve the appointment of Mr. Avesh Dhelawat and Mr. Manish Badamilal Jain as Non-Executive Directors.

Mr. Jain retires by rotation at the upcoming AGM and has offered himself for re-appointment. His remuneration for FY27 is proposed at ₹21.00 lakh per annum. Both Mr. Dhelawat and Mr. Jain were appointed as Additional Directors in May 2026 and are now seeking formal shareholder approval.

Strategic Resolutions

A key special resolution seeks approval for the alteration of the Main Object clause in the Memorandum of Association. The proposed changes aim to broaden the company’s business scope to include logistics, transportation, freight forwarding, and supply chain management services. This expansion is intended to diversify revenue streams beyond its core plastic manufacturing operations.

Another resolution proposes the adoption of a new set of Articles of Association aligned with the Companies Act, 2013. The company also plans to appoint M/s Deep Shukla & Associates as Secretarial Auditors for a five-year term, replacing the previous firm.

What the Numbers Show

The divergence between revenue growth and expense inflation highlights ongoing margin pressure. While revenue nearly doubled, operating expenses rose by only 18%, indicating improved operational leverage. However, finance costs continue to weigh heavily on profitability, constituting approximately 38% of total expenses. The narrowing net loss suggests that scale economies are beginning to offset fixed cost burdens, though the company remains unprofitable.