Sicagen India Limited has initiated a postal ballot process to seek shareholder approval for the appointment of Mr. Prasanna Joshi as Director and Whole-Time Director of the company. The resolution proposes his appointment for a period of three years commencing from May 14, 2026, subject to shareholder consent. Mr. Joshi replaces Mr. Nandakumar Varma, who resigned as Whole-Time Director effective May 13, 2026, due to personal reasons and other commitments.

The Board of Directors, at its meeting held on May 13, 2026, recommended the appointment based on the advice of the Nomination & Remuneration Committee. Mr. Joshi was initially appointed as an Additional Director effective May 14, 2026, under Section 161 of the Companies Act, 2013. The company has now sought approval to regularize his position as a Director and Whole-Time Director.

Remuneration Details

The remuneration package proposed for Mr. Prasanna Joshi includes a basic salary and allowances of ₹40.50 Lakhs per annum and a performance-linked pay of ₹5.50 Lakhs per annum. Additionally, perquisites and statutory contributions are permitted up to ₹4.00 Lakhs per annum. The total remuneration is structured within the limits prescribed under Schedule V of the Companies Act, 2013.

E-Voting Schedule

The remote e-voting facility is available to shareholders whose names appear in the Register of Members or List of Beneficial Owners as of the cut-off date, May 29, 2026. The voting period commences at 09:00 a.m. on June 9, 2026, and concludes at 05:00 p.m. on July 8, 2026. The results of the postal ballot will be announced within two working days of the conclusion of the voting process.

Director Profile

Mr. Prasanna Joshi holds a Bachelor's Degree in Mechanical Engineering and an MBA from the Great Lakes Institute of Management, Chennai. He also holds a Post-Graduate Diploma in Advanced Business Analytics from the Indian Institute of Management, Ahmedabad. With approximately 20 years of experience across Retail, Infrastructure, Education, and IT/ITES sectors, he has been associated with Sicagen India Limited for the past 13 years, leading the Building Material Division. He does not hold any shares in the company and is not related to any other director.

Sicagen India Limited announced its audited financial results for the quarter and year ended March 31, 2026. The Board of Directors, which met on May 13, 2026, approved both standalone and consolidated results and recommended a dividend for the financial year 2025-26. The statutory auditors issued an unmodified opinion on both standalone and consolidated financial results.

Standalone Financial Performance

On a standalone basis, Sicagen India reported a net profit of Rs 1291 lakhs for the year ended March 31, 2026, compared to Rs 1453 lakhs in the previous year. Revenue from operations stood at Rs 52027 lakhs, against Rs 53869 lakhs in FY25. For the quarter ended March 31, 2026, net profit was Rs 315 lakhs on revenue from operations of Rs 13969 lakhs. Basic and diluted earnings per share (excluding OCI) for the year stood at Rs 3.26, compared to Rs 3.67 in the prior year.

Consolidated Financial Performance

On a consolidated basis, which includes subsidiaries South India House Estates & Properties Ltd and Wilson Cables Pte Ltd (Singapore), Sicagen India reported a net profit of Rs 1807 lakhs for the year ended March 31, 2026, compared to Rs 1711 lakhs in the previous year. Consolidated revenue from operations rose to Rs 97348 lakhs from Rs 89141 lakhs in FY25. For the quarter ended March 31, 2026, consolidated net profit was Rs 446 lakhs on revenue from operations of Rs 27791 lakhs. Consolidated basic and diluted EPS (excluding OCI) for the year stood at Rs 4.57, compared to Rs 4.32 in the prior year.

Segment-wise Performance

On a standalone basis, the Trading segment contributed revenue of Rs 47139 lakhs and the Manufacturing segment contributed Rs 4960 lakhs for the year ended March 31, 2026. On a consolidated basis, the Trading segment reported revenue of Rs 53241 lakhs while the Manufacturing segment reported Rs 44179 lakhs for the year. The Trading segment comprises Building Materials, Steel Fabrication, and Power & Control Systems, while the Manufacturing segment covers Industrial Packaging, Specialty Chemicals, and Cables.

Dividend Declaration

The Board has recommended an equity dividend of 10%, amounting to Re 1 per share of face value Rs 10 each, for the financial year 2025-26. This dividend is subject to the approval of shareholders at the ensuing 22nd Annual General Meeting. The date of disbursement will be communicated upon confirmation of the AGM date.

Board and Management Changes

Mr. Nandakumar Varma resigned as Whole-time Director effective May 13, 2026, citing personal reasons and other commitments, and confirmed there are no other material reasons for his resignation. Consequently, Mr. Prasanna Joshi (DIN: 11702992) was appointed as an additional director and Whole-time Director (Executive) for a period of three years commencing May 14, 2026, subject to shareholder approval. Mr. Prasanna Joshi, aged about 42 years, holds a Bachelor's Degree in Mechanical Engineering and an MBA with dual specialisation in Operations and Finance, and has also completed a Post-Graduate Diploma in Advanced Business Analytics from the Indian Institute of Management, Ahmedabad. He has around 20 years of diversified experience across the Retail, Infrastructure, Education and IT/ITES sectors and has been associated with Sicagen India Limited for the past 13 years, serving as Vice President – Building Material Division. The Board has approved a draft postal ballot notice to seek shareholders' approval for these appointments. Additionally, Mr. K R Jaikumar, Chief Manager (HR), was designated as Senior Management Personnel effective May 13, 2026, while Mr. D. Sivakumar ceased to be at the Senior Management Personnel level effective the same date due to a change in his reporting hierarchy.

Auditor Appointments

The Board appointed M/s. Venkatesh & Co., Chartered Accountants (FR. No. 004636S), Chennai, as Internal Auditors for FY26-27. M/s. J. Karthikeyan & Associates, Cost Accountants (FR. No. 102695), Chennai, were re-appointed as Cost Auditors for the financial year 2026-27, subject to shareholder approval at the ensuing 22nd AGM.

Labour Code Impact

On November 21, 2025, the Government of India notified four Labour Codes consolidating 29 existing labour laws. The incremental impact, consisting of gratuity of ₹29 lakhs and long-term compensated absences of ₹2 lakhs, primarily arises due to a change in wage definition. This has been presented as "Statutory impact of new Labour Codes" under Exceptional Items in the statement of profit and loss for the period ended March 31, 2026. The company continues to monitor finalisation of Central/State Rules and clarifications from the Government.