Sanco Trans Limited concluded its 46th Annual General Meeting (AGM) on July 29, 2026, with statutory auditors confirming no qualifications or adverse observations on the company’s financial transactions. The meeting, conducted via video conferencing in compliance with Ministry of Corporate Affairs and Securities and Exchange Board of India circulars, saw Executive Chairman V. Upendran preside over the proceedings. While the independent auditors’ report was clean, secretarial auditors flagged a minor compliance lapse regarding a delayed regulatory filing, for which the company has already paid the imposed fine.

The AGM commenced at 10:05 A.M. IST after confirming quorum. Directors present included S. Sathyanarayanan, U. Udayabhaskar Reddy, S. R. Srinivasan, P. R. Renganath (Chairman of Audit Committee), Bharath Venkat Epur (Chairman of Stakeholder Relationship Committee & Nomination and Remuneration), Vikram Vijayaraghavan, Ramya Badrinarayanan, and T. R. Chandrasekaran. The Company Secretary introduced representatives from the Statutory Auditors, Internal Auditors, Scrutinizer, and Secretarial Auditors.

Auditor Reports and Compliance Observations

The Company Secretary stated that the Independent Auditors’ report contained no qualifications, observations, or comments on financial transactions or matters having any adverse effect on the company’s functioning. Similarly, the Compliance Certificate on Corporate Governance had no qualifications or comments.

However, the Secretarial Auditors’ report included a specific comment regarding a compliance delay. During the period under review, the company belatedly submitted the Shareholding Pattern for the quarter ended June 30, 2025, to the Stock Exchange as prescribed under Regulation 31 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The submission was delayed by one day due to an inadvertent oversight. Consequently, Sanco Trans Limited paid a fine of ₹2,000 plus GST as imposed by BSE Limited. The company has since complied with the requirement.

Agenda Items and Voting

The agenda for the AGM, circulated via notice dated May 28, 2026, included three primary items:

1. Adoption of the Audited Financial Statements for the financial year ended March 31, 2026, along with reports from the Board of Directors and Auditors.
2. Declaration of dividend for the year ended March 31, 2026.
3. Reappointment of S. Sathyanarayanan (DIN: 00446573), Managing Director, who retires by rotation and offered himself for reappointment.

Members were informed that remote e-voting was available from July 26, 2026, at 9:00 A.M. to July 28, 2026, at 5:00 P.M. The Chairman invited questions and comments from members, which were clarified or noted during the session. The Company Secretary explained the voting procedures and assured members that consolidated results of remote e-voting and e-voting at the AGM would be declared within two working days. These results, along with the Scrutinizer’s Report, will be uploaded to the company’s website, stock exchange websites, and the CDSL website.

The meeting concluded at 10:45 A.M. after the voting process was completed. V. Upendran thanked the members for their participation before declaring the meeting closed.

Sanco Trans Limited reported a 29.98% increase in total income to Rs.139 crore for the financial year ended March 31, 2026, compared to Rs.105 crore in the previous year. The company’s profit before tax surged by 221% during the year, primarily driven by increased warehouse earnings, while EBITDA recorded an increase of Rs.625 Lakhs. Finance costs declined further in FY 2025-26 on account of reduced utilization of cash credit facilities, repayment of borrowings, and better interest rates on new borrowings.

The Board of Directors has recommended a dividend of Rs.4.50 per share of Rs.10/- each for the financial year ended March 31, 2026, subject to the approval of shareholders at the Annual General Meeting. The company’s revenue from operations increased to Rs.139 Crores in FY 2025-26 as compared to Rs.105 Crores during FY 2024-25. Depreciation for the year increased mainly on account of additions to vehicles.

Financial Performance

The company’s operational metrics showed significant improvement during the year. The cumulative volume of boxes handled during the calendar year 2025 stood at 14.5 lakhs in import and 10.4 lakhs in exports through all four container terminals in Chennai, an increase of 6% when compared with 2024 volumes. This growth in operational activity contributed to the financial upturn.

Corporate Governance and Compliance

The company’s internal control systems were deemed adequate, with the Internal Auditor carrying out periodical verifications at all locations. The Board confirmed that proper internal financial controls were followed and were operating effectively. The statutory auditors, M/s. M. S. Krishnaswami and Rajan, Chartered Accountants, issued an unmodified opinion on the financial statements and the adequacy of internal financial controls.

The Secretarial Audit Report noted that the company had belatedly submitted the shareholding pattern for the quarter ended June 30, 2025, with a one-day delay and paid the fine imposed by BSE Limited. The company also transferred unclaimed dividends amounting to Rs. 51,154.20 for the financial year 2017-18 to the Investor Education and Protection Fund as prescribed under Section 124 of the Companies Act, 2013.

Board and Leadership

The Board comprises five Independent Directors, one Non-Independent Director, and four Executive Directors. During the year, Mr. T R Chandrasekaran was appointed as an Additional Non-Executive Independent Director, while Ms. S Devaki ceased to be a Director due to her demise in October 2025. The shareholders approved the re-appointment of Mr. V Upendran as Executive Chairman for a period of three years effective April 1, 2026, via postal ballot.