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.

Palco Metals Limited has secured the approval of its unsecured creditors for the Scheme of Amalgamation with Palco Recycle Industries Limited, marking a decisive step in its corporate restructuring. The resolution was passed at a physical meeting held on July 27, 2026, in Ahmedabad, pursuant to an order dated June 16, 2026, from the Hon'ble National Company Law Tribunal (NCLT), Ahmedabad Bench. This development complements the simultaneous approval by equity shareholders earlier on the same day, enabling the entities to proceed with merging their respective shareholders and creditors under Sections 230 to 232 of the Companies Act, 2013.

The meeting of unsecured creditors commenced at 12:30 p.m. IST and concluded after ballot voting. Mr. Laxman Madnani, Advocate and Ex-Presiding Officer of the Debt Recovery Tribunal, Member (Judicial), RCT, appointed by the Hon'ble NCLT, chaired the proceedings. Advocate Vedant Dave was appointed as the Scrutinizer by the Hon'ble NCLT to ensure the voting process was conducted fairly. Mukesh Tiwari, Company Secretary & Compliance Officer, attended from the registered office.

The Board of Directors submitted the summary of proceedings to BSE Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The details have also been uploaded to the company’s website. Specific voting results, as required under Regulation 44(3) of the SEBI Listing Regulations, have been disclosed based on the Scrutinizer’s Report. Notices were dispatched to creditors on or before June 26, 2026, and advertisements were published in Business Standard and Jai Hind on June 26, 2026.

Voting Results

The consolidated result of the voting seeking approval of the Unsecured Creditors to the Scheme is as follows:

Of the total valid votes cast, all seven creditors present voted in favor of the resolution, representing 93.33% of the debt value voted. No votes were cast against or deemed invalid. The unsecured creditors outstanding as on May 31, 2026, were considered for voting, with rights determined in proportion to the amount of debt owed.

Key Creditors

The following entities and individuals constituted the voting block:

• Palco Recycle Exchange Limited — ₹20,01,72,300 (87.63%)
• ABC Acution Trade Private Limited — ₹81,26,650 (3.56%)
• Palco E-waste Recyclers Private Limited — ₹36,26,650 (1.59%)
• Sunita Kanaiyalal Agrawal — ₹3,75,000 (0.16%)
• Kirankumar Babulal Agrawal — ₹3,75,000 (0.16%)
• Kanaiyalal Babulal Agrawal — ₹3,75,000 (0.16%)
• Urmita Kirankumar Agrawal — ₹1,50,000 (0.07%)

What the Numbers Show

The simultaneous approval by both equity shareholders and unsecured creditors demonstrates broad alignment among key stakeholders regarding the strategic restructuring. The efficient execution of two separate meetings on the same day, under the supervision of independent judicial appointees, underscores the regulatory focus on transparency and speed in finalizing the amalgamation with Palco Recycle Industries Limited. The overwhelming majority in favor of the scheme, with zero opposition from creditors, signals strong confidence among investors and lenders in the proposed corporate consolidation.