Ircon International Limited shareholders approved a final dividend of ₹0.70 per equity share for FY26 during the company's 50th Annual General Meeting (AGM) held on September 24, 2026.

The meeting, conducted via video conferencing, also ratified the payment of an interim dividend of ₹1.20 per share. This brings the total dividend payout for the financial year to ₹1.90 per share on a face value of ₹2 each.

Board Appointments and Re-elections

Shareholders passed ordinary resolutions to appoint key leadership figures to the Board. Shri Saleem Ahmad was appointed as Chairman & Managing Director, while Shri Rajesh Naik was appointed as Director (Projects). Both appointments are liable to retire by rotation.

Additionally, Smt. Ragini Advani, Director (Finance), was re-appointed following her retirement by rotation. The meeting also approved the appointment of Smt. Suman Bala as an Independent Director through a special resolution.

Financial Statements Adoption

The audited standalone and consolidated financial statements for the year ended March 31, 2026, were adopted by the shareholders. The Statutory Auditors did not provide any qualifications in their report, and the Comptroller and Auditor General of India (C&AG) issued nil comments on the accounts.

The Board of Directors was authorized to fix the remuneration for Statutory Auditors for FY27, subject to C&AG appointment guidelines. The remuneration of Cost Auditors for FY27 was also ratified.

What the Numbers Show

The total dividend declared for FY26 amounts to ₹178.7 crore, combining the interim payout of ₹112.86 crore and the final proposal of ₹65.84 crore. This represents a total return of 95% on the paid-up equity capital of ₹188.10 crore, reflecting a consistent distribution policy relative to the company's capital base.

Meeting Proceedings

Shri Saleem Ahmad chaired the proceedings, welcoming 82 shareholders, including the representative of the Government of India. The quorum required under the Companies Act, 2013, was present throughout the session.

Remote e-voting facilities were provided from September 21 to September 23, 2026, with additional voting opportunities available during the live meeting. Shri Sachin Agarwal served as the scrutinizer for the e-voting process.

Ircon International plans to challenge a ₹147.14 crore arbitration award declared against it by AFCON in the High Court of Delhi. The award relates to a dispute over work package T-74R-A, where the claim value stood at ₹359.72 crore.

The dispute was initially raised by AFCON on February 22, 2023, and reported to stock exchanges on August 14, 2023. On June 29, 2026, the Majority Tribunal declared an award of ₹147,14,48,522 against the total claim. Subsequently, on September 23, 2026, the Minority Tribunal issued a dissenting opinion, awarding ₹23,64,20,885 against the same claim value.

Arbitration Outcome Details

The arbitration process is now complete, with significant divergence between the majority and minority tribunal opinions regarding the payable amount.

Regulatory Disclosure and Next Steps

The company disclosed this development under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Ircon stated it will challenge the award before the High Court of Delhi in accordance with the law. No settlement terms or financial impact details were provided in the immediate disclosure, as the matter proceeds to litigation.

What the Numbers Show

The Majority Tribunal awarded approximately 41% of the total claimed amount (₹147.14 crore out of ₹359.72 crore), while the Minority Tribunal awarded only about 6.6% (₹23.64 crore). This stark difference highlights the contested nature of the liability assessment within the arbitration panel itself.