MITCON Consultancy & Engineering Services Limited shareholders have approved the re-appointment of Mr. Anand Chalwade as Managing Director and appointed Dr. Prakash Vaidya and Mr. Sanjay Ballal Phadke as directors. The resolutions were passed via a postal ballot process conducted on June 08, 2026, with 100% of the valid votes cast in favour of each proposal. The voting also sanctioned three material related party transactions with MINVEN Solar entities.

The remote e-voting process, scrutinized by Shikha Rai, Partner at M/s Mamta Binani and Associates, was conducted in compliance with Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The e-voting facility was provided by National Securities Depository Limited (NSDL), with voting commencing on May 07, 2026, and concluding on June 05, 2026. A total of 11,948,445 valid votes were polled, representing 68.59% of the total outstanding shares.

Voting Results

The postal ballot sought approval for two special resolutions and four ordinary resolutions. The special resolutions concerned the re-appointment of the Managing Director and the appointment of an Independent Director. The ordinary resolutions covered three material related party transactions and the appointment of a Non-Executive Non-Independent Director.

Special Resolutions

Ordinary Resolutions

Shareholder Participation

The voting participation was driven entirely by public institutions and public non-institutions, as the promoter and promoter group did not hold any shares entitled to vote on the record date of May 01, 2026. Public institutions cast 3,154,030 votes, while public non-institutions cast 8,794,415 votes. There were no votes cast against any resolution, and no invalid votes were recorded during the process.

MITCON Consultancy & Engineering Services Limited reported a consolidated net profit of ₹941.49 lakh for the financial year ended March 31, 2026, an increase from ₹654.06 lakh in the previous year. The company’s revenue from operations for the year stood at ₹12,566.84 lakh, compared to ₹11,271.19 lakh in FY25. On a standalone basis, net profit for the year was ₹528.36 lakh, while revenue from operations reached ₹6,012.05 lakh.

The Board of Directors, in its meeting held on May 27, 2026, approved the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026. The auditors, J. Singh & Associates, issued an unmodified opinion on the financial results. The Board also appointed M/s Galgali and Associates as Internal Auditors and M/s. Shahane & Co. as Tax Auditors for the financial year 2026-27. Pursuant to Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company published these results in Financial Express and Loksatta on May 28, 2026.

Financial Performance

The company’s total income from operations for FY26 was ₹12,767.37 lakh on a consolidated basis. Total expenses for the year were reported at ₹11,509.47 lakh. Profit before tax for the year stood at ₹1,258.81 lakh, while the profit attributable to owners of the company was ₹808.75 lakh. Earnings per share (EPS) basic for the year increased to ₹5.41 from ₹4.63 in the previous year.

For the quarter ended March 31, 2026, the company reported a consolidated net profit of ₹564.43 lakh and revenue from operations of ₹4,523.29 lakh. Standalone net profit for the quarter was ₹215.21 lakh with revenue from operations at ₹2,070.96 lakh.

Segment Results

The Consultancy and Training segment remained the primary revenue driver, contributing ₹9,434.20 lakh to the consolidated revenue for FY26. The Wind / Solar Power Generation segment reported revenue of ₹1,741.07 lakh, while the Project Service segment contributed ₹1,391.57 lakh. The company noted that the wind and solar power generation business is subject to seasonal variations.

Utilization of Funds

The company confirmed that the total proceeds of ₹3,074.40 lakh from the Rights Issue have been fully utilised as of March 31, 2026. There was no deviation in the use of proceeds from the objects stated in the offer documents. The funds were utilized for investments in subsidiaries, upgradation of laboratories, and general corporate purposes.