Indo National Ltd

AGM Details

• AGM held Sept 28, 2026 at 3:00 PM via VC/OAVM.
• Voting eligibility cut-off: Sept 21, 2026.

Key Resolutions

• Ordinary: Adopt Board's Report and audited standalone and consolidated financial statements with auditors' report.
• Ordinary: Declare dividend of Rs 3.75 per equity share for FY 2025-26.
• Ordinary: Re-appoint Ms. Suneeta Reddy by rotation.
• Ordinary: Remuneration payable to Cost Auditor for FY 2026-27.
• Special: Payment of commission/remuneration to non-executive independent directors.

Voting Results

• Res.1 passed: 93.04% in favour, 6.96% against.
• Res.2 passed: 93.04% in favour, 6.96% against.
• Res.3 passed: 93.04% in favour, 6.96% against.
• Res.4 passed: 93.04% in favour, 6.96% against.
• Res.5 passed: 92.49% in favour, 7.51% against.

Dividend

• Dividend of Rs 3.75 per equity share approved.

Director Changes

• Suneeta Reddy re-appointed as director, by rotation.

Auditor Remuneration

• Cost Auditor remuneration approved for FY 2026-27.

AGM Details

• AGM conducted via video conferencing and other audiovisual means.
• Remote e-voting facility provided; results to be filed with exchanges later.

Ordinary Resolutions

• Adoption of standalone and consolidated financial statements with reports.
• Re-appointment of director liable to retirement by rotation.

Dividend

• Dividend declared/approved on equity shares.

Special Resolutions

• Remuneration approved for Cost Auditor.
• Payment of commission/remuneration to Non-Executive Independent Directors.

Auditors & Related Parties

• Statutory auditor attended; no appointment changes announced.
• No material related party transactions disclosed.

Voting Status

• Voting results to be filed with exchanges; outcome not disclosed in filing.

Closure Remarks

• AGM concluded; results to be disclosed to stock exchanges.

Record date and book closure

• Security: Equity.
• Record date: 21 September 2026.
• Book closure: 22 September to 28 September 2026.
• Purpose: 53rd AGM and dividend payment, subject to approval by members.

Target and business

• Axial Aero Private Limited, India-based, develops flight simulation tech and digital terrain tools.

Deal terms

• Investment size INR 3,90,94,666 via subscription to 35,249 Class C CCPS at INR 1,109.10 each.

Ownership and governance

• Post-transaction, INL to hold 7.97% on a fully diluted basis; not a related party.

Regulatory and approvals

• Not explicitly disclosed; closing subject to Transaction Documents and other investors' rounds.

Background

• Target background: AAPL develops flight simulation and digital terrain tech for military and commercial sectors; turnover not disclosed.

Target background and deal terms

• Target: Medcuore Medical Solutions Private Ltd (India), air monitoring systems and air purifiers.
• Three-year turnover: FY24 Rs 47,68,000; FY25 Rs 35,41,484; FY26 Rs 1,45,60,000.
• Incorporation: 07/06/2020; presence in India.
• Investment and stake: Rs 25,01,968 for 0.41% additional, total 62.28%.
• Shares and price: 178 shares at Rs 14,056 per share.
• Form of consideration: cash.
• Related party: not a related party; promoter group none.
• Purpose: facilitate business growth and revenue expansion.
• Regulatory approvals: Nil.
• Completion timeline: Up to FY 2027-28.
• Industry: Air monitoring systems and air purifiers.

Target overview

• Medcuore Medical Solutions Private Ltd (India) manufactures and services air monitoring systems and air purifiers.
• Presence in India; sector: air monitoring equipment and filtration.

Investment details

• Aggregate investment ₹50,03,864 via equity subscription in MMSPL.
• 78% additional stake, total holding 61.87%.

Ownership & consideration

• Acquired 329 MMSPL shares; price ₹16,536 for 153 shares and ₹14,056 for 176.
• Total stake after acquisition: 61.87%.

Rationale

• Object: facilitate growth, revenue generation, and business expansion.
• Strategic fit: expands presence in air monitoring segment.

Regulatory & timeline

• Regulatory approvals: Nil.
• Indicative completion period: up to FY 2027-28.

Background of MMSPL

• Incorporated on 07/06/2020.
• Turnover FY24 ₹47,68,000; FY25 ₹35,41,484; FY26 ₹1,45,60,000.
• Presence: India; products: air monitoring systems and air purifiers.