IMP Powers Ltd

AGM Details

• AGM held on 30 September 2026 at 12:30 p.m. IST via VC/OAVM.
• Concluded at 12:41 p.m. IST.
• Remote e-voting from 25 Sep to 29 Sep 2026; cut-off date 23 Sep 2026.
• e-voting facility available for 15 minutes after conclusion of AGM.
• Scrutinizer appointed for remote and at-meeting voting.

Attendance & Proceedings

• 41 members attended via VC/OAVM.
• Chairman was the Whole-time Director and CEO.

Post-Meeting Actions

• Voting results to be declared within two working days.
• Results to be placed on the company website and with stock exchanges.

IMP Powers Ltd: Trading window closed from October 1, 2026 till 48 hours after Board Meeting to consider Unaudited Financial Results for the quarter and half year ended September 30, 2026.

Record Date for AGM

• Record date fixed as 23 September 2026 for entitlement to attend and vote at the 64th AGM.
• AGM to be held on 30 September 2026 at 12:30 PM via VC/OAVM.
• The affected security is equity shares (INDLMETER).

AGM Details

• AGM dated 30 September 2026 at 12:30 IST, via VC/OAVM.
• Venue deemed at the registered office in Silvassa.
• E-voting cut-off date: 23 September 2026.

Ordinary Business

• Adoption of standalone and consolidated financial statements for year ended 31 March 2026.
• Re-appointment of Shaishav R. Shah on rotation.

Item 3: Naveen Kumar Singh

• Special Resolution: Re-appoint Naveen Kumar Singh as Whole-time Director for 1 year at INR 1.68 crore.

Item 4: GSEC Related Party Transactions

• Ordinary Resolution: Approve material related party transactions with GSEC Limited for FY 2027-28.

Item 5: Electrify Energy ICD

• Ordinary Resolution: Approve material related party transactions with Electrify Energy Private Limited for FY 2027-28.

Item 6: Diamond Power Infra

• Ordinary Resolution: Approve material related party transactions with Diamond Power Infrastructure Limited for FY 2027-28.

Item 7: SMTPL FY2026-27

• Ordinary Resolution: Approve material related party transactions with Smartmeters Technologies Private Limited for FY 2026-27.

Item 8: SMTPL FY2027-28

• Ordinary Resolution: Approve material related party transactions with Smartmeters Technologies Private Limited for FY 2027-28.

Item 9: Registered Office Shift

• Special Resolution: Shift registered office from Silvassa to Ahmedabad; amend MOA.

Financial snapshot

• Revenue from operations (Standalone): 3,138.20 Lakhs.
• Total income: 3,682.67 Lakhs.
• PAT: 13.62 Lakhs; improved from a loss of 208.40 Lakhs.
• EBITDA: 5.49 Crores.
• Total comprehensive income: 11.02 Lakhs.
• Dividend: no dividend declared for FY2025-26.
• EPS (Basic/Diluted): 0.16.
• Net cash from operations: 659.09 Lakhs.

Going concern status & risks

• Company in CIRP; sale completed in 2024; new management.
• Final distribution order for sale proceeds pending before NCLT/NCLAT.
• Auditors emphasise going concern and related audit qualifications.
• Impairment assessment and ECL not completed; balances pending reconciliation.
• Partial revival underway; raw material volatility and supply-chain risks persist.
• No dividend; ongoing working capital management.

Capital structure & liquidity

• Borrowings total: 33,312.02 Lakhs.
• Current liabilities around ₹532.0 Crores (consolidated).
• Liquidity: cash + bank balances approx ₹79.81 Crores.
• Net worth (consolidated) negative ₹270.88 Crores.
• Current ratio 0.42 indicates liquidity stress.

Subsidiary & group status

• Subsidiary: IMP Energy Limited; no operations in FY2025-26.
• Separate AOC-1 attached; no material subsidiary as per policy.

Governance & management changes

• Board comprises seven directors; independent directors on the board.
• Naveen Kumar Singh appointed Whole-time Director; later approved by members.
• Audit Committee: three independent members; five meetings held.
• 64th AGM scheduled for 30 September 2026; includes key resolutions.
• Shilpa Shah appointed Secretarial Auditor; certain compliance noted.

Related party transactions

• Related parties: GSEC Limited, Diamond Power Infrastructure Limited, Electrify Energy Private Limited, SMTPL.
• FY2025-26 RPT: GSEC purchases ₹17.33 Crores; DPIL ₹0.18 Crores.
• RPT approvals for FY2027-28 include thresholds; GSEC up to ₹100 Crores; EEPL up to ₹100 Crores.

Audit, controls & risk disclosures

• Statutory auditors: BJS & Associates; qualified on impairment, ECL, and related matters.
• Internal financial controls considered adequate; some weaknesses noted in Annexures.
• Secretarial audit flagged delays in appointments; going-concern context explained.

AGM & upcoming corporate actions

• 64th AGM on Sep 30, 2026; VC/OAVM facility.
• Shifting registered office from Silvassa to Ahmedabad approved; subject to regulatory clearances.
• Postal ballot approvals for going-concern sale and related restructurings referenced.

AGM Details

• 64th AGM on 30 September 2026 at 12:30 PM via VC/OAVM.
• Venue deemed at registered office; meeting conducted through VC/OAVM.
• Cut-off date for e-voting: 23 September 2026.
• Remote e-voting window: 25–29 September 2026.
• Notice and annual report available on company website.

Ordinary Business

• Adopt standalone and consolidated financial statements for year ended 31 March 2026.
• Re-appoint Shaishav R Shah by rotation.

Special Resolutions

• Re-appoint Naveen Kumar Singh as Whole-time Director for 1 year at INR 1.68 Crore per annum.
• Approve RPT with GSEC Limited for 2027-28.
• Approve RPT with Electrify Energy Private Limited for ICD/borrowings 2027-28.
• Approve RPT with Diamond Power Infrastructure Limited for 2027-28.
• Approve RPT with Smartmeters Technologies Private Limited for sale of goods 2026-27.
• Approve RPT with Smartmeters Technologies Private Limited for sale of goods 2027-28.
• Shift registered office from Silvassa to Ahmedabad (Special Resolution).

Related Party Transactions (RPTs)

• GSEC Limited: Goods/raw materials purchases for 2027-28; max INR 100 Cr; arm’s length.
• EEPL: Inter-corporate deposits/borrowings in 2027-28; max INR 100 Cr; unsecured; 9.5% interest; five-year term.
• Diamond Power Infrastructure Limited: Purchases for 2027-28; max INR 10 Cr; arm’s length.
• Smartmeters Technologies Private Limited: Sales of goods for 2026-27; max INR 20 Cr.
• Smartmeters Technologies Private Limited: Sales of goods for 2027-28; max INR 20 Cr.

Directors / Management Appointments

• Naveen Kumar Singh appointed Whole-time Director; 1-year term; remuneration 1.68 Cr p.a.
• Shaishav Shah re-appointment by rotation.

Registered Office Shift

• Shift of registered office to Gujarat; MOA clause II updated accordingly.

Dividend

• No dividend proposal disclosed in this AGM notice.

Voting Status

• Voting outcomes not disclosed in this filing.

Financial results approved

• Unaudited standalone and consolidated results for quarter ended 30 June 2026 approved.
• Limited Review Reports from Statutory Auditors attached.

Appointments and re-appointments

• Shilpa Shah re-appointed as Secretarial Auditor for FY2026-27.
• Effective 8 August 2026; subject to member approval.
• Naveen Kumar Singh re-appointed as Whole-time Director for one year.

Auditor observations and material disclosures

• Standalone results with qualified opinion due to CIRP-related issues.
• Consolidated results also qualified for CIRP-related concerns.
• Trade receivables outstanding since CIRP; ECL not recognised.
• Impairment assessment not performed for CIRP-era assets.
• Deferred tax expense/income not recognised; impact not determined.
• Bank balances and current assets lack independent confirmations; unreconciled balances.
• Distribution of sale proceeds under liquidation incomplete; accounting effects pending.
• Going concern basis adopted due to Rs 78 crore sale proceeds.