Sanco Trans Limited shareholders have overwhelmingly approved the adoption of its audited financial statements for the fiscal year ended March 31, 2026, alongside a dividend declaration and the reappointment of Managing Director S. Sathyanarayanan. The resolutions were passed at the company’s 46th Annual General Meeting (AGM) held on July 29, 2026, with over 99.99% of polled votes cast in favor of each agenda item. The high approval rate underscores strong stakeholder confidence in the company’s governance and financial trajectory for FY26.

The meeting was conducted via video conferencing in compliance with Ministry of Corporate Affairs (MCA) and Securities and Exchange Board of India (SEBI) circulars. Executive Chairman V. Upendran presided over the proceedings, which commenced at 10:05 A.M. IST after confirming quorum. A total of 27 shareholders attended the meeting through video conferencing, comprising five from the promoter group and 22 from the public category. Out of 1,757 shareholders on record, 1,314,200 votes were polled, representing approximately 73% of the outstanding shares.

Voting Results and Resolutions

All three ordinary resolutions were passed with near-unanimous support. The detailed voting breakdown is as follows:

Promoter and promoter group shareholders held 1,304,824 shares and voted 1,303,938 shares in favor across all resolutions. Public non-institutional shareholders held 495,176 shares, with 10,262 votes polled. Notably, there were no votes cast via poll or postal ballot; all voting occurred through remote e-voting facilitated by Central Depository Services (India) Limited (CDSL).

Auditor Reports and Compliance

The statutory auditors issued a clean report with no qualifications or adverse observations on the company’s financial transactions. Similarly, the Corporate Governance Compliance Certificate contained no qualifications. However, secretarial auditors flagged a minor compliance lapse: a one-day delay in submitting the shareholding pattern for the quarter ended June 30, 2025, to BSE Limited under Regulation 31 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Sanco Trans Limited paid a fine of ₹2,000 plus GST for this inadvertent oversight and has since rectified the filing.

Governance and Scrutiny

The AGM agenda included the reappointment of S. Sathyanarayanan (DIN: 00446573), who retires by rotation. The promoter group disclosed an interest in this resolution, as per regulatory requirements. M/s. A. K. Jain & Associates, represented by Partner Balu Sridhar, served as the independent scrutinizer for the remote e-voting process. The scrutinizer’s report, submitted on July 29, 2026, confirmed that all records were unblocked in the presence of two independent witnesses and that no invalid votes were found. The consolidated results were declared within two working days as required.

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.