Maan Aluminium Limited has initiated a postal ballot process to seek shareholder approval for the appointment of an Independent Director and the alteration of its Memorandum of Association to expand its business operations. The resolutions propose appointing Mr. Karan Bhatia as an Independent Director for a term of five years and adding new objects related to power generation to the company's charter.

The company has dispatched the Postal Ballot Notice electronically to shareholders whose email addresses were registered as of Friday, May 22, 2026. This date serves as the cut-off for determining eligibility to participate in the voting process. The notice is available on the company's website, the websites of BSE Limited and National Stock Exchange of India Limited, and the portal of the Registrar and Share Transfer Agent, MUFG Intime India Private Limited.

Shareholders can cast their votes exclusively through the remote e-voting process. The e-voting facility commenced on Saturday, May 30, 2026, at 09:00 a.m. IST and will conclude on Sunday, June 28, 2026, at 5:00 p.m. IST. No votes will be accepted after this deadline. The company has clarified that voting is restricted to the remote e-voting mechanism in compliance with relevant circulars.

The resolutions put forward include the appointment of Mr. Karan Bhatia (DIN: 11633574) as an Independent Director. Mr. Bhatia was appointed as an Additional Director by the Board with effect from April 1, 2026, and his appointment as an Independent Director is subject to shareholder approval. The second resolution seeks the alteration of the object clause of the Memorandum of Association to include the business of transmitting, manufacturing, supplying, generating, distributing, and dealing in electricity and all forms of energy and power generated by any source, including solar, for captive use or business purpose.

The results of the postal ballot will be declared by the Chairman of the company on or before Tuesday, June 30, 2026. The outcome will be communicated to the stock exchanges, depositories, and displayed on the company's website. The postal ballot process is being conducted in accordance with Section 110 of the Companies Act, 2013, and relevant rules and regulations.

Maan Aluminium Limited reported a 16% decline in net profit to ₹1,302 crore for the financial year ended March 31, 2026 (FY26), down from ₹1,551 crore in the previous year. The company's board approved the audited financial results for the quarter and year ended March 31, 2026, at a meeting held on May 29, 2026. Revenue from operations for FY26 stood at ₹80,871 crore, slightly lower than ₹81,017 crore in FY25, reflecting stable top-line performance amidst profitability challenges.

Quarterly Performance

For the quarter ended March 31, 2026 (Q4FY26), the company recorded a net profit of ₹169 crore, a sharp decline from ₹394 crore in the corresponding period of the previous year. Revenue for the quarter increased to ₹2,545.7 crore from ₹2,458.6 crore in Q4FY25. However, operating margins compressed significantly, with EBITDA falling to ₹1.6 crore compared to ₹7.7 crore in the prior year. The EBITDA margin contracted to 0.64% from 3.13% year-on-year. Earnings per share (EPS) for the quarter stood at ₹0.29, down from ₹0.73 in Q4FY25.

Full-Year Financial Performance

On an annual basis, the company's total equity increased to ₹2,999 crore as of March 31, 2026, up from ₹2,704 crore a year earlier. This rise was driven by the allotment of 59,00,000 equity shares on a preferential basis on January 16, 2026, at ₹141 per share, raising ₹8,319 crore. The funds were designated for capital expenditure, working capital requirements, and general corporate purposes. Total income for FY26 was ₹81,922 crore.

Operational Highlights

The company recognised a liability regarding the labour codes notified by the Government of India on November 21, 2025. The business activities of the company primarily fall within a single business and geographical segment, and as such, there is no separate reportable segment as per Ind AS 108. The auditors, Khandelwal & Khandelwal Associates, issued an unmodified opinion on the financial results.