LGB Forge has declared the voting results for its 20th Annual General Meeting (AGM), which was held via video conferencing on August 14, 2026. The company announced that all three resolutions placed before shareholders were passed with the requisite majority. The results were scrutinized by Sri. P. Eswaramoorthy of P. Eswaramoorthy and Company and declared on August 17, 2026.

The meeting was attended by 49 members representing 7,84,43,805 equity shares. As per the consolidated scrutinizer's report, the total number of shareholders as on the cut-off date of August 7, 2026, was 38,055. The remote e-voting period ran from August 11 to August 13, 2026.

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.

Voting Results Breakdown

The voting outcomes for each resolution are detailed below. For Resolution 3, which involved a material related-party transaction, votes cast by promoter group shareholders were considered invalid, in compliance with regulatory norms. Consequently, the resolution was decided solely based on the votes of non-promoter shareholders.

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. The scrutinizer's report confirmed that seven promoter shareholders holding 7,82,42,278 shares voted on Resolution 3, but these votes were marked as invalid.

Management Address and Governance

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.

Nine shareholders registered as speakers for the meeting. Three participated via video conferencing to raise queries, which were addressed by the Chairman and the Managing Director.

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. Smt. Narmatha G K, Company Secretary & Compliance Officer, and Sri. Venkatesan N, Chief Financial Officer, were also present.

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.