Indef Manufacturing Ltd

AGM details

• Date: 12 August 2026; Time: 5:00 p.m. IST; Mode: VC/OAVM; voting cut-off: 5 Aug 2026.

Key resolutions

• Item 1: Adopt audited standalone and consolidated financial statements for FY2026.
• Item 2: Declare final dividend of Rs 2 per share.
• Item 3: Re-appointment of Shri Vandan Sitaram Shah (retiring by rotation).
• Item 4: Continuation of Chairman as Non-Executive Non-Independent Director after age 75.
• Item 5: Ratify Cost Auditor remuneration of Rs 75,000.
• Item 6: Appoint Ms. Pooja Bajaj as Non-Executive Non-Independent Director.
• Item 7: Appoint Shri Mahendrakumar Gohel as Non-Executive Independent Director.

Voting results

• Item 1 passed with 99.9977% assent.
• Item 2 passed with 99.9977% assent.
• Item 3 passed with 99.9977% assent.
• Item 4 passed with 99.9977% assent.
• Item 5 passed with 99.9977% assent.
• Item 6 passed with 99.9977% assent.
• Item 7 passed with 99.9977% assent.

Dividend

• Final dividend of Rs 2 per equity share approved.

Director changes

• Shri Vandan Sitaram Shah re-appointed.
• Ms. Pooja Bajaj appointed as Non-Executive Non-Independent Director.
• Shri Mahendrakumar Gohel appointed as Non-Executive Independent Director.
• Shri Shekhar Bajaj to continue as Chairman and Non-Executive Non-Independent Director post-75.

Cost auditor remuneration

• Remuneration for Cost Auditor approved at Rs 75,000.

AGM Details

• Date and time: August 12, 2026, 05:00 PM IST.
• Mode: Video Conferencing / OAVM.
• Record date for e-voting: August 5, 2026.
• Remote e-voting: Aug 9–11, 2026, 09:00–17:00 IST.
• Quorum was present.

Key Resolutions

• Ordinary: Adopt audited standalone and consolidated financial statements; outcome to be announced.
• Ordinary: Declare final dividend of Rs 2 per equity share; outcome pending.
• Ordinary: Re-appoint Shri Vandan Shah by rotation; outcome pending.
• Special: Continue Shri Shekhar Bajaj as Chairman and Non-Executive Non-Independent Director beyond age 75; outcome pending.
• Ordinary: Ratify remuneration of Cost Auditors for FY ending March 31, 2027; outcome pending.
• Ordinary: Appoint Ms. Pooja Bajaj as Director; outcome pending.
• Special: Appoint Shri Mahendrakumar Gohel as Non-Executive Independent Director; outcome pending.

Dividend

• Final dividend proposed at Rs 2 per equity share.

Director & Governance Changes

• Shri Vandan Shah re-appointed by rotation.
• Ms. Pooja Bajaj appointed as Director.
• Shri Mahendrakumar Gohel appointed as Non-Executive Independent Director.
• Continuation of Shri Shekhar Bajaj as Chairman and Non-Executive Non-Independent Director beyond age 75 approved.

Auditor Update

• No change to statutory or secretarial auditors; reports had no adverse remarks.

Financial highlights

• Standalone Q1 FY27 total income: ₹3,737.10 lakhs.
• Standalone Q1 FY27 revenue from operations: ₹2,823.70 lakhs.
• Consolidated Q1 total income: ₹4,323.00 lakhs.
• Consolidated Q1 revenue from operations: ₹3,446.31 lakhs.
• Standalone PBT: ₹672.68 lakhs.
• Consolidated PBT: ₹628.32 lakhs.
• Standalone PAT: ₹583.82 lakhs; Consolidated PAT: ₹550.20 lakhs.
• Standalone EPS (not annualised): ₹1.82.
• Single reportable segment: Material Handling Equipment.
• Board approved unaudited standalone and consolidated results; limited review by Kanu Doshi Associates LLP.

Meeting Details

• Board meeting on Wed, Aug 12, 2026; time and venue not disclosed.

Key Agenda Items

• Approval of unaudited standalone and consolidated Q1 ended June 30, 2026 results.

Other Notes

• Trading window closed for connected/designated persons from July 1, 2026 to Aug 14, 2026.

Financials

• Standalone revenue from operations: 19,566.98 lakhs, up 10.73% YoY.
• Consolidated revenue: 21,587.84; Consolidated PAT: 2,339.39.
• Standalone EBITDA: 3,449.60; prior year 4,763.11.
• Final dividend Rs 2 per share for FY2025-26, subject to AGM approval.
• Operating cash flows: standalone 3,170.17; consolidated 2,352.12.

Subsidiaries & acquisitions

• Daedalus Lift & Access Equipments Private Limited acquired 80% stake; Rs 5.08 crore; control from Aug 22, 2025.
• Consolidated Swift Industries Limited became 100% subsidiary since Sept 6, 2024.
• Hercules Hoists Limited demerged into Indef; 1:1 share exchange; Oct 14, 2024; IML investment canceled.

Governance & board

• Shri Shekhar Bajaj age 77; Special Resolution to continue as Chairman beyond age 75.
• Ms. Pooja Bajaj appointed Additional Director from May 25, 2026; to be Non-Executive Director.
• Mr. Mahendrakumar Gohel appointed Non-Executive Independent Director for five years (May 25, 2026–May 24, 2031).
• Remuneration of Rs 75,000 for Cost Auditor ratified.

Dividend & AGM details

• AGM scheduled Aug 12, 2026 via VC/OAVM; final dividend Rs 2 per share, subject to approval.
• Record date Aug 5, 2026; Register closure Aug 6–12.
• Remote e-voting window Aug 9–11, 2026; InstaVote/MUFG Intime platforms.
• No proxies allowed for VC AGM.

CSR & ESG

• CSR expenditure Rs 25,24,605; unspent Rs 17,24,477 transferred to Unspent CSR Account.
• CSR policy available on company website.

Corrigendum scope

• Omissions corrected were non-material; no changes to standalone/consolidated financials.
• Directors' Report corrected Sexual Harassment disclosures and Maternity Benefit compliance.
• MD&A disclosures aligned with final report.
• No impact on financial statements.

Outlook & risks

• Long-term growth via SWIFT and Daedalus; MEA expansion; digital transformation.
• Macro risks include policy shifts, geopolitics, commodity prices, supply chains.
• GDP grew 7.7% in FY2025-26; infrastructure spending supports demand.

Audit & controls

• Internal controls robust; Deloitte Touche Tohmatsu India LLP engaged.
• Secretarial audit by S N Ananthasubramanian & Co; no material qualifications.
• Independent auditors Kanu Doshi Associates LLP; no qualifications.
• Form AOC-1 and Annexure reports attached.

AGM details

• AGM date/time: 12 August 2026 at 5:00 PM IST, held via VC/OAVM.
• Deemed venue: registered office.
• Registered office address: Bajaj Bhawan, Nariman Point, Mumbai.
• Book closure: 6–12 August 2026 (inclusive).
• Remote e-voting window: 9–11 August 2026.
• Notice and Annual Report available on company website and stock exchanges.
• Proxy facility not available for VC/OAVM AGM.

Resolutions

• Resolution 1: Adoption of standalone and consolidated financial statements (Ordinary).
• Resolution 2: Declaration of final dividend of Rs 2 per share (Ordinary).
• Resolution 3: Re-appointment of retiring director (Ordinary).
• Resolution 4: Continuation of Shri Shekhar Bajaj as Chairman and Non-Executive Non-Independent Director (Special).
• Resolution 5: Ratification of remuneration payable to Cost Auditor (Ordinary).
• Resolution 6: Appointment of Ms. Pooja Bajaj as Director (Ordinary).
• Resolution 7: Appointment of Shri Mahendrakumar Gohel as Non-Executive Independent Director (Special).

Other AGM rights / process

• E-voting period: Aug 9–11, 2026; voting at AGM via e-voting platform.
• Attendance at VC/OAVM counts toward quorum; physical attendance not required.
• Notice/Annual Report available electronically; physical copies on request.

Dematerialisation processing and listing status

• Securities received for dematerialisation were processed and confirmed to depositories, with listing on stock exchanges.
• Physical certificates for dematerialisation were mutilated and cancelled after verification; depository name substituted as registered owner within timelines.

Meeting Details

• Board meeting scheduled for Monday, May 25, 2026.

Key Agenda Items

• Approve audited standalone and consolidated financial results for quarter and year ended March 31, 2026.
• Approve audited standalone and consolidated financial statements for year ended March 31, 2026.
• Consider final dividend recommendation for financial year 2025-26, if any.

Other Notes

• Trading window closed from April 1, 2026 until May 27, 2026, inclusive.