LGB Forge held its 20th Annual General Meeting (AGM) on August 14, 2026, via video conferencing. Shareholders approved the company's audited financial statements for the fiscal year ended March 31, 2026, alongside key governance resolutions including the re-appointment of the Managing Director.

The meeting was attended by 49 members representing 7,84,43,805 equity shares. The proceedings were conducted in compliance with Section 108 of the Companies Act, 2013, Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and relevant Ministry of Corporate Affairs circulars.

Key Resolutions Passed

Shareholders voted on three primary agenda items during the AGM:

1. Adoption of the Audited Financial Statements for FY26, along with the Board of Directors' Report and Statutory Auditors' Report.
2. Re-appointment of Smt. Rajsri Vijayakumar as a Director, who retires by rotation.
3. Approval of material-related party transactions between LGB Forge and M/s. L.G. Balakrishnan & Bros Limited.

For the third resolution, Chairman Sri. B. Vijayakumar vacated the chair due to his interest in the matter. Independent Director Sri. S Ganesh assumed the chair to oversee the voting process before resuming normal proceedings.

Management Address

Smt. Rajsri Vijayakumar, Managing Director, briefed members on operational performance and strategic plans for the upcoming fiscal year. Sri. A. Sampath Kumar, Executive Director, discussed operational efficiency, digital initiatives, and green projects. The Statutory Auditors' Report and Secretarial Auditors' Report contained no qualifications or adverse remarks.

Attendance and Governance

The following directors attended the meeting via video conferencing:

Independent Directors Sri. Murugesa Saravana Marthandam and Sri. Sajeev Mathew Rajan were absent due to prior commitments. Sri. P. Eswaramoorthy served as the Scrutinizer for the e-voting process conducted through Central Depository Services (India) Limited.

LGB Forge lgb forge reported a standalone net profit of ₹1,030.32 lakh for the quarter ended June 30, 2026, marking a significant recovery from a net loss of ₹50.84 lakh in the previous quarter and a net profit of ₹88.11 lakh in the same period last year. The financial turnaround was driven largely by an exceptional item—a gain of ₹1,005.52 lakh from the sale of land—rather than operational performance, as profit before exceptional items remained marginal at ₹24.80 lakh. This non-operational boost underscores the company’s reliance on asset monetization to bolster bottom-line figures in the current period.

Revenue from operations rose 1.5% year-on-year to ₹2,806.91 lakh, up from ₹2,764.21 lakh in Q1FY26. However, total expenses increased to ₹2,811.50 lakh from ₹2,758.30 lakh in the corresponding prior period, squeezing operational margins. Other income declined sharply to ₹29.39 lakh from ₹82.20 lakh a year ago, further pressuring top-line growth. The Board of Directors approved these standalone unaudited financial results on August 10, 2026, following a limited review by statutory auditors N.R. Doraiswami & Co., who issued an unmodified opinion.

Financial Performance Snapshot

What the Numbers Show

The divergence between operating performance and net profit is stark. While revenue grew modestly, operational profitability remained thin, with profit before exceptional items at just ₹24.80 lakh. The bulk of the reported net profit stems from the one-time land sale gain, indicating that core business operations did not generate substantial earnings power in this quarter. Investors should note that without this exceptional item, the company would have reported a significantly lower profit, highlighting the volatile nature of its recent earnings profile.

Corporate Governance Updates

In addition to financial results, the Board appointed Sri. Arjun Parthasarathy as an Additional Director (Non-Executive, Non-Independent) effective August 11, 2026, subject to shareholder approval. Parthasarathy, who has over 18 years of experience in the metal forming industry and currently serves as a Director at Metal Forms Private Limited, is the brother-in-law of Managing Director Smt. Rajsri Vijayakumar. His appointment follows a recommendation from the Nomination and Remuneration Committee.

The Board also approved proposals to alter the Object Clause and adopt new sets of Memorandum of Association (MOA) and Articles of Association (AOA) to align with the Companies Act, 2013. These changes aim to reflect the company’s diversification efforts and modernize governance structures. Shareholder approval for these matters will be sought through a Postal Ballot, with the notice to be submitted to stock exchanges in due course. The existing MOA and AOA were based on the Companies Act, 1956, necessitating updates to comply with current regulations.