IRM Energy has scheduled its 11th Annual General Meeting (AGM) for Tuesday, September 29, 2026, at 5:00 pm via video conference. The board of directors has recommended a final dividend of ₹1.50 per equity share of face value ₹10 each for the financial year ended March 31, 2026.

The dividend represents a 15% payout on the face value. If approved by shareholders at the AGM, the payment will be made within the statutory timeline to eligible equity shareholders whose names appear in the register of members as on Friday, September 11, 2026, designated as the record date.

What the Numbers Show

The dividend recommendation indicates a consistent return mechanism for shareholders, with the payout calculated strictly on the face value rather than market price. The company has mandated that dividends will be paid electronically only to shareholders with updated bank account details, aligning with SEBI notification dated November 18, 2025.

Tax and Compliance Details

Dividends distributed by the company are taxable in the hands of shareholders under the Income Tax Act, 2025. The company will deduct tax at source (TDS) at prescribed rates, subject to shareholder approval at the AGM. Detailed notes regarding tax deduction rates and procedures are available on the company’s investor relations website.

Shareholders attending the meeting through VC/OAVM will be counted for quorum purposes under Section 103 of the Companies Act, 2013. Remote e-voting facilities will be provided for all resolutions set forth in the AGM notice.

IRM Energy Limited has scheduled separate meetings of its equity shareholders and unsecured creditors for Saturday, September 12, 2026, to consider and approve the proposed Scheme of Amalgamation of Enertech Distribution Management Private Limited (the "Transferor Company") with IRM Energy Limited (the "Transferee Company"). The meetings, directed by the National Company Law Tribunal (NCLT), Ahmedabad Bench, are critical steps in consolidating Enertech’s natural gas distribution business into IRM Energy’s existing infrastructure. The disclosure was made pursuant to Regulation 30 and Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, with newspaper advertisements published on August 11, 2026.

Meeting Schedule and Voting Details

The NCLT, through orders dated July 27, 2026, and August 7, 2026, directed the convening of these meetings. Sanjiv Dutt, a former member of the NCLT, has been appointed as the Chairperson for both meetings. CA Sehmil Devdwala has been appointed as the Scrutinizer to oversee the e-voting process. Both meetings will be held via Video Conferencing (VC) or Other Audio-Visual Means (OAVM). Physical attendance is not permitted, and proxy appointments are unavailable.

Equity shareholders must be registered as of September 05, 2026, while unsecured creditors are reckoned as of May 31, 2026. Notices were sent electronically to those with registered email addresses on these respective cut-off dates. Results will be declared within two working days of the meeting conclusion.

Scheme Mechanics and Share Exchange Ratio

The amalgamation aims to integrate Enertech’s operations in natural gas, LNG, CNG, fuel, and power infrastructure advisory services with IRM Energy’s city gas distribution network. Upon approval by the requisite majority of shareholders and creditors, and subsequent sanction by the NCLT, Enertech will be dissolved without winding up.

The core financial mechanism of the scheme is the share exchange ratio. IRM Energy will issue 667 fully paid-up equity shares of ₹10 each for every 800 equity shares of ₹10 each held in Enertech. This ratio was determined by GT Valuation Advisors Private Limited in a report dated November 12, 2025, and validated by a Fairness Opinion from Saffron Capital Advisors Private Limited on the same date. Notably, Enertech currently holds 21.12% of IRM Energy’s total equity share capital. The number of shares issued to Enertech’s shareholders will match the number of shares Enertech holds in IRM Energy as of the Effective Date.

Financial Impact and Capital Structure

The scheme is designed to have a minimal impact on IRM Energy’s overall capital structure and net worth. The following table outlines the pre- and post-amalgamation financial position:

The post-amalgamation authorized share capital of IRM Energy will comprise 6,20,00,000 equity shares of ₹10 each and 4,00,00,000 preference shares of ₹10 each, totaling ₹102,00,00,000. The issued, subscribed, and paid-up capital will remain unchanged at 4,10,59,677 equity shares of ₹10 each, amounting to ₹41,05,96,770. The promoter holding remains at 50.74%, with public holding at 49.26%, indicating no dilution in the existing ownership structure relative to the total outstanding shares.

Regulatory Approvals and Next Steps

The scheme is filed under Company Scheme Application No. CA(CAA)/31(AHM)/2026 before the NCLT, Ahmedabad Bench, under Sections 230 to 232 of the Companies Act, 2013. Beyond the shareholder and creditor approvals, the scheme requires sanctions from the BSE Limited, the National Stock Exchange of India Limited, and other statutory authorities. The Effective Date will be determined once all conditions precedent, including these regulatory approvals, are fulfilled.