Incredible Industries Ltd

Incredible Industries Ltd — Trading window closure

AGM Details

• AGM held on 18 September 2026 at 2:30 PM IST via VC/OAVM.
• Cut-off date for voting entitlements: 11 September 2026.
• Remote e-voting open 15-17 September 2026.
• E-voting at AGM allowed for attendees.
• Votes counted after closure of e-voting.

Key Resolutions

• Adoption of Audited Financial Statements approved.
• Re-appointment of director by rotation approved.
• Statutory Auditors appointed for five-year term.
• Approval of material related party transactions with Adhunik Corporation Limited.
• Remuneration of Cost Auditors ratified.

Dividend

• No dividend proposed or declared.

Director Changes

• Director re-appointment by rotation: Sanjay Kaloya approved.

Auditors

• Statutory auditor appointed for five-year term; remuneration not disclosed.

Material Related Party Transactions

• Material related party transactions with Adhunik Corporation Limited approved; term until next AGM.

AGM outcomes

• AGM held on 18 September 2026 via VC/OAVM.
• Audited financial statements for year ended 31 March 2026 adopted with reports.
• Director Sanjay Kaloya retires by rotation; re-appointment approved.
• Statutory auditors M/s Sudhir Kumar Jain & Associates appointed for five years.
• Related party transactions with Adhunik Corporation Limited approved for period from 47th AGM to 48th AGM.
• Cost auditors' remuneration for FY ending 31 March 2027 ratified.
• Voting results to be posted on company and exchange websites within 48 hours.

AGM notice publication

• Newspaper notice for 47th AGM and remote e-voting information published on 26 August 2026.
• Publication in English Business Standard and Bengali Aaj Kal regional newspapers.
• Copies also available on the company's website.
• Follows the company letter dated 25 August 2026 regarding the AGM notice.
• No financial impact or changes to governance disclosed.
• No change to AGM date or other material operational details provided.
• This is a routine compliance disclosure for shareholder communications.
• Remote e-voting process details remain as previously announced.

Financial highlights

• Revenue from operations: ₹84,029.78 Lakh in FY2025-26 vs ₹75,614.48 in FY2024-25.
• EBITDA: ₹2,416.59 Lakh in FY2025-26, up from ₹2,207.66.
• PAT: ₹1,151.64 Lakh, down from ₹1,248.72.
• Total comprehensive income: ₹1,186.65 Lakh, down from ₹1,264.40.
• Net worth: ₹15,711.68 Lakh, up from ₹14,525.03.
• Long-term borrowings: ₹1,348.59 Lakh; cash ₹8.32 Lakh.
• Debt-to-equity: 0.21x; ROCE: 10.07%.
• EPS: ₹2.54; basic and diluted.

Expansion and operations

• SMS capacity: 2,56,000 MT per year after installation.
• Rolling Mill capacity: 2,22,000 MT per year after expansion.
• Backward integration investment: ₹15,100 Lakh.
• SMS construction progressing; automation upgrades and billet flow improvements.

Industry and outlook

• India remains second-largest crude steel producer; infrastructure fuels demand.
• National Steel Policy targets 300 MT by 2030-31.
• Industry outlook: demand growth aided by supportive policy tailwinds.

Governance and controls

• Board size six; 1 Executive Chair; 3 Independent Directors; two women.
• Statutory auditors: replacement recommended for five years from 47th AGM.
• Secretarial audit: no major observations; Suzlon matter awaiting Supreme Court decision.
• Internal controls are adequate; no material weaknesses reported.

Capital structure and liquidity

• Equity share capital ₹4,676.38 Lakh.
• Total equity ₹15,711.68 Lakh; borrowings ₹3,297.84 Lakh.
• Net debt ₹3,289.52 Lakh; net debt/ equity 0.21x.
• Dividend: no dividend declared.

CSR and ESG

• CSR spend ₹20.00 Lakh; shortfall ₹0.85 Lakh.
• CSR average net profit ₹19.15 Lakh; 2% obligation.
• CSR focus: education and skill development; NGOs engaged.

Related party transactions

• Material RPT with Adhunik Corporation Limited; omnibus approval up to ₹800 Crores.
• RPTs are at arm's length and in ordinary course; prior Audit Committee approval obtained.
• Shareholders approved material RPTs at 45th AGM (Sept 2024).

Audit and risk

• Auditors' report unqualified; no fraud reported; internal controls deemed adequate.
• Risk management targets raw material price volatility and cyclicality in steel.

Book closure and AGM details

• Book closure Sep 12–18, 2026 (inclusive) for 47th AGM via VC/OAVM on Sep 18, 2026.

Financial highlights

• Quarter ended 30 Jun 2026: Revenue from operations Rs 21,303.49 lac; Total income Rs 21,334.16 lac.
• PBT Rs 529.82 lac; PAT Rs 396.25 lac in Q1 FY2026.
• EPS (basic and diluted) Rs 0.87 for Q1 FY2026.
• Total expenses Rs 20,804.34 lac; cost of materials consumed Rs 18,590.60 lac.
• Single segment: Iron & Steel Products.
• Auditors' limited review completed; no material misstatement identified.
• The report did not express an audit opinion.
• Board approved unaudited results; reviewed by Statutory Auditors.
• Date: Results issued 10 Aug 2026.

Financial results

• Board approved unaudited quarterly results for quarter ended 30 June 2026 and Limited Review Report.

AGM and auditor appointment

• 47th AGM scheduled for Sep 18, 2026 at 02:30 PM via VC/OAVM.
• M/s Sudhir Kumar Jain & Associates appointed as Statutory Auditor for five years.
• Appointment subject to members' approval; replaces R. Gopal & Associates.
• Term runs from conclusion of 47th AGM to conclusion of 52nd AGM (2031).