Inter State Oil Carrier shareholders approve borrowing limits hike

Inter State Oil Carrier Limited has secured shareholder approval to increase its borrowing powers and create charges on its assets through a postal ballot process that concluded on June 22, 2026. The approvals allow the company to enhance its financial flexibility by borrowing more funds against its movable and immovable properties, both present and future. Additionally, shareholders authorized an increase in the limits for making investments, extending loans, giving guarantees, and providing securities under Section 186 of the Companies Act, 2013.

The remote e-voting period commenced on May 24, 2026, and was conducted by Central Depository Services (India) Limited (CDSL). Mr. Rantu Kumar Das, Partner of M/s. Rantu Das & Associates, Company Secretaries, served as the scrutinizer for the process. The results of the postal ballot were declared on June 23, 2026, and subsequently submitted to the stock exchanges.

Resolutions Approved

The company sought approval for three special resolutions, all of which were passed by the requisite majority:

Resolutions	Type of Resolution
To approve increase in borrowing limits of the Company under section 180(1)(c) of the Companies Act, 2013	Special Resolution
To create charges on the movable and immovable properties of the company, both present and future, in respect of borrowings under Section 180 (1) (a) of the Companies Act, 2013	Special Resolution
To increase the limits applicable for making Investments, extending Loans, giving Guarantees and providing Securities specified under Section 186 of Companies Act, 2013	Special Resolution

Voting Summary

The postal ballot notice was dispatched to shareholders on May 22, 2026, with the cut-off date for determining eligibility set as May 15, 2026. A total of 43 shareholders participated in the e-voting process. The resolutions received strong support from the promoter group, while public non-institutional holders largely voted against the proposals.

Resolution	Votes For	Votes Against	% For
Increase in borrowing limits	2,114,459	109,012	95.10%
Creation of charges on assets	2,114,454	109,017	95.10%
Increase in investment/loan limits	2,114,458	109,013	95.10%

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.13%	-3.40%	+20.30%	+25.20%	+21.50%	+194.21%

Inter State Oil Carrier Limited handled 23.12 '000 MTs of volume in May 2026, reflecting a decline of approximately 4.79% compared to 24.28 '000 MTs handled in April 2026. The company stated that the decrease was primarily attributable to disruptions in transportation movement and operational challenges arising from the prevailing war-like situation and related market uncertainties, which adversely impacted logistics activities during the period. Despite these headwinds, the entity strengthened its fleet capacity by onboarding four additional tankers during the month.

The volume of 23.12 '000 MTs handled in May 2026 indicates a marginal decline of approximately 7.22% compared to 24.92 '000 MTs handled in May 2025. This performance data was disclosed in a regulatory filing submitted to BSE Limited on June 6, 2026, under Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015. The information provided is based on a limited review by the management.

Volume Handled Trend

The company's operational data over the past year shows fluctuations in monthly volume handled. The peak volume during the period was recorded in March 2026 at 29.34 '000 MTs, while the lowest volume was observed in September 2025 at 21.17 '000 MTs.