Sampat Aluminium Limited passed all four ordinary resolutions at its 27th Annual General Meeting held on September 26, 2026. The meeting, conducted via video conferencing, saw unanimous approval for the adoption of standalone financial statements for FY26 and key administrative appointments.

The company reported that the voting process was scrutinized by Utkarsh Shah & Co. A total of 54,69,800 votes were cast in favor across all agenda items, with zero dissenting votes recorded. The remote e-voting facility was open from September 23 to September 25, 2026, allowing shareholders to exercise their rights electronically prior to the meeting.

Key resolutions approved

The shareholders unanimously approved the following items:

1. Adoption of the annual audited standalone financial statements for the financial year ended March 31, 2026, along with the Board and Auditor reports.
2. Re-appointment of Sanket Sanjay Deora as Managing Director, who retired by rotation and offered himself for re-election.
3. Appointment of M/s. Utkarsh Shah & Co. as the Secretarial Auditor.
4. Ratification of remuneration for Cost Auditors for the financial year ending March 31, 2027.

Voting participation details

The meeting was attended by six shareholders via video conferencing, comprising five from the promoter group and one public shareholder. No physical attendance was recorded. The total outstanding equity share capital stood at 84,81,100 shares, out of which 54,69,800 shares were voted upon during the process.

What the numbers show

A clear divergence exists between promoter and public shareholder engagement. While the promoter group exercised 100% of their voting rights, public non-institutional shareholders participated at only 2.86% of their holding capacity. Institutional investors held 6,39,400 shares but cast zero votes, indicating a complete lack of institutional engagement in this specific governance cycle. This results in the promoter group controlling 98.7% of all votes polled, ensuring that all resolutions pass with minimal reliance on public shareholder consensus.

Sampat Aluminium reported a 34% year-on-year rise in revenue to ₹1,780.1 crore for the financial year ended March 2026, driven by volume growth following its initial public offering. However, net profit declined 14% to ₹5.9 crore, reflecting higher operating costs and tax provisions.

The company’s AGM is scheduled for September 26, 2026, where shareholders will approve the audited financials and reappoint key directors. The board has decided against recommending a dividend for FY26 to preserve capital for future contingencies.

Financial Performance

Revenue from operations grew significantly from ₹1,327.2 crore in FY25 to ₹1,780.1 crore in FY26. Despite this top-line expansion, total expenses rose sharply to ₹1,706.6 crore from ₹1,237.2 crore the previous year. This divergence resulted in a lower profit before tax of ₹744.3 crore compared to ₹927.8 crore in FY25.

Other income dropped to ₹9.4 lakh from ₹28.2 lakh, while finance costs decreased to ₹157.8 lakh from ₹216.4 lakh, indicating reduced borrowing costs despite higher working capital needs.

What the Numbers Show

The decline in profitability despite strong revenue growth highlights margin pressure. Cost of material consumed rose by 35% to ₹1,610.9 crore, outpacing revenue growth. Additionally, freight outward expenses surged to ₹45.4 lakh from ₹2.1 lakh, suggesting increased distribution costs or logistical shifts that impacted operational efficiency.

Balance Sheet and Capital Structure

The company raised ₹2,885.1 lakh through its IPO during the year, strengthening its equity base. Share capital increased to ₹848.1 lakh from ₹593.7 lakh. Long-term borrowings stood at ₹829.8 lakh, while short-term borrowings were ₹1,159.5 lakh. Inventories grew to ₹433.7 lakh, reflecting stockpiling ahead of anticipated demand.

Regulatory and Compliance Updates

Auditors flagged several compliance issues. The company failed to transfer unspent CSR funds of ₹13.2 lakh to the specified Schedule VII fund within six months of the fiscal year-end. Additionally, there was a non-compliance with maintaining the Structured Digital Database for insider trading regulations.

A significant contingent liability of ₹1,541.2 lakh exists regarding disputed Goods and Services Tax demands from earlier years. The management has filed appeals, but the outcome remains pending adjudication. Auditors also noted variations exceeding 10% between quarterly stock statements submitted to banks and the books of account for September 2025 and March 2026, attributed to timing differences in provisional reporting.