Palco Metals held its 65th Annual General Meeting on September 28, 2026, in Ahmedabad. Members adopted the audited financial statements for the year ended March 31, 2026, and approved the re-appointment of director Naman Naredi.

The meeting commenced at 11:00 am with Kirankumar Agrawal serving as Chairperson. A quorum was formed by 22 members holding 2,268,506 shares, representing 56.71% of the company's total paid-up equity capital. The statutory and secretarial auditors reported no qualifications or adverse remarks in their reports for FY26.

Voting and attendance details

Remote e-voting facilities were provided through NSDL, with the voting window open from September 25 to September 27, 2026. Punit S. Lath served as the scrutinizer for the poll and e-voting process. Several corporate members appointed authorized representatives to vote on their behalf, contributing significantly to the total votes cast during the meeting.

Resolutions passed

The following ordinary resolutions were transacted during the meeting:

1. Adoption of the audited financial statements, including consolidated statements, for FY26, along with the Board of Directors' and Auditors' reports.
2. Appointment of Naman Naredi as a director in place of himself, who retired by rotation and offered himself for re-appointment.

The results of the voting on these resolutions were subject to the receipt of requisite votes, with the final consolidated report to be submitted by the scrutinizer to the Chairperson.

Palco Metals will hold its 65th Annual General Meeting on September 28, 2026, to approve financial results and reappoint director Naman Naredi. The meeting follows the National Company Law Tribunal’s approval of the amalgamation scheme between the parent and its wholly owned subsidiary, Palco Recycle Industries Limited.

Financial Performance

The parent company recorded a standalone loss of ₹39.31 lakh for FY26, widening from a loss of ₹32.65 lakh in FY25. Total expenses rose to ₹39.31 lakh from ₹30.88 lakh, driven by higher finance costs of ₹26.69 lakh compared to ₹20.18 lakh in the prior year.

On a consolidated basis, the group reported a net profit of ₹638.42 lakh, up from ₹631.04 lakh in FY25. Revenue from operations grew to ₹29,318.14 lakh from ₹24,595.79 lakh. Earnings per share stood at ₹15.99, compared to ₹15.79 in the previous year.

Corporate Developments

The NCLT Ahmedabad bench issued directions on June 16, 2026, for convening meetings to consider the scheme of amalgamation. Shareholders and unsecured creditors approved the scheme on July 27, 2026, with requisite statutory majorities. The scheme remains subject to final NCLT sanction.

Director Naman Naredi retires by rotation at the AGM and offers himself for reappointment. He holds an MBA from Heriot-Watt University and has experience in import-export operations.

What the Numbers Show

The consolidated profit growth of 1.2% significantly lagged the 19.2% expansion in revenue. This divergence suggests margin compression or increased operating costs within the subsidiary, which accounts for all group operating income. Finance costs at the parent level increased by 32.3%, contributing to the wider standalone loss despite zero operational activity.