Coromandel Engineering Company Ltd

AGM details

• 78th AGM on Sep 29, 2026 at 2:30 PM via VC/OAVM.
• Record date: 18-09-2026; meeting conducted via video conference.
• Four resolutions were approved with requisite majority.

Key resolutions and outcomes

• Resolution 1: Adoption of financial statements for year ended 31 March 2026; Passed.
• Resolution 2: Re-appointment of a Non-Executive Director; Passed.
• Resolution 3: Directors' retirement by rotation; Passed.
• Resolution 4: Approval of material related party transactions within limits; Passed.

AGM details

• AGM held on 29 September 2026 at 2:30 PM IST via VC/OAVM.
• Remote e-voting from Sep 24 to Sep 28, 2026; 15-minute voting window after AGM.
• Meeting concluded at 3:42 PM.

Key resolutions

• Adoption of financial statements for year ended 31 March 2026.
• Re-appointment of Dr. Ennarasu Karunesan as Non-Executive Director liable to retirement by rotation.
• Approve material related party transactions with Sri Lakshmi Ammal Educational Trust.
• Approve related party transaction limits with Unnmaii Financial Services Private Limited.

Voting results

• Consolidated voting results to be announced within two working days.
• Results to be displayed on company and KFin websites.

Coromandel Engineering Company Limited — Trading window closed from 01 October 2026 until 48 hours after the declaration of unaudited financial results for the quarter and half year ending 30 September 2026

Financial performance

• Revenue from operations reached 4,308.84 lakhs, up about 37.7% YoY.
• PBT after exceptional items stood at 16.88 lakhs.
• Net profit after tax was 16.88 lakhs, down from 41.49.
• Total comprehensive income rose to 44.87 lakhs aided by revaluation surplus.
• Earnings per share remained Rs 0.00; no dividend declared.
• Net worth increased to 1,330.80 lakhs from 625.17.
• Debt to equity improved to 1.53x from 3.61x.
• Current ratio improved to 1.1x.
• Dividend not recommended for FY2025-26.

Operations & diversification

• Order book: estimated value Rs 22,588 lakhs; executed Rs 2,118.
• Order book as on 01/04/2026 stands at Rs 20,470.
• Construction sales: 4,250.80 lakhs; GM 87.03; GM% 20.47%.
• MOA amended to diversify into additional business lines.
• Preferential issue of 16,49,840 equity shares in May 2025.
• No deposits accepted; no subsidiary; RPT policy on website.
• Strategic expansion into EPC with BIM and prefabrication.
• Target turnover Rs 90 crores by March 2027.

Capital structure & liquidity

• Authorized share capital Rs 72 crore; paid-up equity Rs 34.88 crore.
• Paid-up capital after issue: Rs 34.88 crore (3,48,83,438 shares).
• Long-term borrowings Rs 995.00 lakh; current borrowings Rs 1,037.54 lakh.
• Total borrowings Rs 2,032.54 lakh; debt-to-equity 1.53x.
• Current ratio 1.1x; debt mix improved; liquidity strengthened.
• Net worth Rs 1,330.80 lakh; equity capital Rs 3,488.34 lakh.

Dividend & reserves

• Dividend declared: none; no transfer to general reserve.
• Securities premium Rs 2,936.58 lakh; retained earnings negative.
• Total equity stands at Rs 1,330.80 lakh; revaluation reserve Rs 264.22 lakh.
• OCI includes revaluation gain with tax impact of Rs 264.22 lakh.

Governance & leadership

• Baskaran Srinivasan resigned as director on 25 May 2026.
• Dr. Swetha appointed as Additional Director on 25 May 2026; approved 11 July 2026.
• Dr. Ennarasu Karunesan to retire by rotation at 78th AGM.
• Independent directors meet 24 March 2026; performance evaluated.
• Board: six directors—1 executive, 2 non-exec, 3 independent; one independent woman.
• Technical Committee ceased from 25 May 2026; board oversees technical matters.
• Audit Committee met six times; Company Secretary served as secretary.

Audit & risk flags

• Auditors invited Emphasis of Matter for delays in GST, TDS, EPF, ESI payments.
• Management remitted February–March 2026 TDS; compliance strengthened.
• Secretarial audit issued a qualification on related party disclosures; fine paid.
• Internal controls deemed adequate; no material weaknesses observed.
• MSME dues outstanding; management engaging with vendors to resolve.
• No fraud reported; internal audit engaged to bolster controls.

Outlook & risks

• Indian construction market seen at ~US$1.4 trillion; CECL to ride growth.
• Investing in BIM and prefabrication to boost efficiency; EPC expansion planned.
• Risks include raw material volatility, labour shortages, and regulatory delays.
• Liquidity management to sustain positive momentum and profitability.

AGM Details

• 78th AGM on 29 September 2026 at 2:30 PM IST via VC/OAVM.
• Record/book closure from 22 September 2026 to 29 September 2026.
• Voting cut-off date for eligibility: 18 September 2026.

Resolutions to be Put to Vote

• Item 1: Ordinary – adopt financial statements and Board's report.
• Item 2: Ordinary – re-appoint Dr. Ennarasu Karunesan as Non-Executive Director.
• Item 3: Ordinary – approve material related party transactions with Sri Lakshmi Ammal Educational Trust.
• Item 4: Ordinary – approve material related party transactions with Unnmai Financial Services Private Limited.

Voting Results

• Voting results for these resolutions not disclosed in the filing.

Dividend

• Dividend not proposed or declared for the financial year.

Director Changes

• Baskaran Srinivasan resigned as Director effective 25 May 2026.
• Dr Swetha appointed Additional Director from 25 May 2026; postal ballot approved 11 July 2026.
• Dr Ennarasu Karunesan to retire by rotation; reappointment sought at the AGM.

Auditor Appointments

• Statutory auditors continue for 2026-27; term ends at the 79th AGM.
• Internal auditors re-appointed for 2026-27 and 2027-28.
• Secretarial auditor: Nithya Gokul; note includes a qualification on delayed RPT filing.
• Statutory audit remuneration: ₹6.00 lakh; tax audit ₹1.40 lakh; other services ₹4.91 lakh; total ₹12.31 lakh.

Material Related Party Transactions

• RPT with Sri Lakshmi Ammal Educational Trust up to ₹200 crore; arm’s length; ordinary resolution.
• RPT with Unnmai Financial Services Private Limited up to ₹10 crore; ordinary resolution.
• RPTs exceed material thresholds per Listing Regulations; require shareholder approval.

Other Material Approvals

• Technical Committee ceased with effect from 25 May 2026; functions absorbed by Board.

Deviation status

• Purpose: confirms no deviation or variation in use of proceeds from the preferential equity allotment.
• Mode of fund raising: preferential allotment of equity shares.
• Audit Committee reviewed and approved the utilisation statement.
• Status: utilisation reported as in line with plan; no deviation.
• Reference: annexure containing confirmation is attached.

Board approvals

• Board approved standalone unaudited results for quarter ended 30 June 2026.
• Audit report dated 12 August 2026 by M/s CNGSN & Associates LLP.
• Standalone results will be available on the company website.
• Annexure II contains deviation in use of proceeds of preferential allotment.