Modern Insulators Ltd

AGM details

• Date and time: 30 September 2026, 11:00 AM; physical AGM at registered office, Rajasthan.

Resolutions

• Adoption of Audited Standalone and Consolidated Financial Statements for year ended 31 March 2026.
• Appointment of Director by rotation: Animesh Banerjee.
• Revision in remuneration structure of Animesh Banerjee, Executive Director.
• Ratification of remuneration of Cost Auditors for FY 2026-27.

Voting results

• Results of remote e-voting and ballots not disclosed in the excerpt.

Directors

• Director Animesh Banerjee reappointed by rotation; remuneration revision proposed.

Auditors

• Remuneration of Cost Auditors ratified for FY 2026-27.

Material Related Party Transactions

• No material related party transactions disclosed.

Modern Insulators Ltd: Trading Window closed from 01 October 2026 until completion of 48 hours from the announcement of the Unaudited Financial Results for the quarter and half year ended 30 September 2026

AGM Details

• 41st AGM for FY 2025-26 on 30 September 2026 at 11:00 AM (physical) at the registered office, Rajasthan.
• Notice of AGM available on company website.
• Date of issue: 7 September 2026.

Financial snapshot

• Standalone revenue from operations ₹719.14 Cr; +43% YoY.
• Consolidated revenue ₹719.83 Cr.
• Standalone EBITDA ₹117.70 Cr; +130% YoY.
• Consolidated EBITDA ₹116.56 Cr; +129% YoY.
• Standalone PAT ₹82.93 Cr; strong growth.
• Consolidated PAT ₹79.78 Cr.

Segment performance

• Insulators division revenue ₹669.87 Cr; PBID ₹116.56 Cr.
• Terry Towels turnover ₹49.26 Cr; PBID ₹1.13 Cr.
• Exports revenue ₹380 Cr; export growth ~98% YoY.
• Domestic revenue ₹316.66 Cr; international ₹403.17 Cr.
• Modern Composites (subsidiary) revenue ₹99.43 Cr; net loss.

Capital structure & liquidity

• Standalone borrowings ₹60.15 Cr; cash ₹5.50 Cr.
• Total equity ₹549.12 Cr; paid-up capital ₹47.14 Cr; reserves ₹501.98 Cr.
• Credit rating: IND BBB+ / Stable; Crisil A- / Stable (May 2026).
• Net cash from operations ₹52.46 Cr in FY2025-26.

Governance & leadership

• Shreyans Ranka appointed Joint Managing Director on 8 Jan 2026.
• Animesh Banerjee remuneration revised; Basic ₹2.42 Lakh/month; 15% variable.
• 11 board meetings held in FY2025-26.
• Remuneration for Cost Auditors ratified: ₹50k + ₹25k expenses.
• Independent Directors met separately on 10 Feb 2026.

Audit, risk & controls

• Standalone financials subject to qualified opinion due to ECL on trade receivables.
• Internal controls deemed adequate; Secretarial audit on record; risk policy published.
• Management certified CEO/CFO regarding financial statements and internal controls.

CSR & ESG

• CSR expenditure ₹71.04 Lakh; main areas education, healthcare, women empowerment, environment.
• CSR policy and projects disclosed on company website; impact assessed where applicable.
• Excess CSR spend of ₹0.10 Lakh; not carried forward.

Outlook & risks

• Power transmission sector outlook remains positive; growth drivers include grid modernization.
• Risks: RoW delays, raw material price volatility, and supply-chain dynamics.
• Company aims to expand capacity, upgrade technology, and strengthen execution to sustain growth.

Subsidiaries & joint ventures

• Modern Composites Pvt. Ltd. (subsidiary) revenue ₹99.43 Cr; PAT loss ₹4.12 Cr; net assets negative.
• Shriji Designs MIL JV revenue ₹1.35 Cr; profit ₹0.97 Cr.
• MIL-Akhandalamani Electricals & Construction JV: revenue nil; profit slight negative.

Rating action

• Total Bank Loan Facilities Rated increased to Rs 165 crore from Rs 130 crore.
• Long-Term Rating: Crisil A-/Stable; Short-Term Rating: Crisil A2+; both reaffirmed.
• Outlook: Stable.
• Rating Agency: Crisil Ratings Limited.

Rationale and surveillance

• Ratings under continuous surveillance per Crisil Ratings.
• Crisil may withdraw or revise ratings on new information.

Material changes and duration

• Material change: facility increase; ratings reaffirmed.
• Letter valid until March 31, 2027.

Instrument details

• Bank-wise facilities total Rs 165 crore; varying ratings across lenders.

Board approvals & results

• Board approved 41st AGM notice and FY2025-26 annual report.
• Unaudited standalone and consolidated results for quarter ended 30 Jun 2026 approved with limited review.
• Auditor: R B Verma & Associates issued Limited Review Report.

NCLT scheme & amalgamation update

• NCLT Jaipur order disposed of scheme petition; re-approach after regulatory compliance.
• Tax provision of Rs 275.40 lacs for Q1 FY2027 not provided due to amalgamation.
• Management hopeful of final NCLT approval for the Scheme.

Loans & related party

• Rs 7029 lacs interest-free unsecured loan to a company under section 189.
• Rs 2435 lacs interest-free unsecured loan to wholly owned subsidiary.
• Loans to support amalgamation; no repayment terms specified.

Consolidated results & notes

• Consolidated results include unreviewed subsidiary/joint venture figures; not material to group.
• Figures for some periods regrouped for comparability.
• Results were reviewed by Audit Committee and approved by Board on 10 August 2026.

Meeting Details

• Date: August 10, 2026; time and venue not disclosed.

Key Agenda Items

• Consider unaudited standalone and consolidated financial results for the quarter ended June 30, 2026.

Other Notes

• Trading window closed from July 1, 2026 for designated persons until 48 hours after results.
• Notice of meeting uploaded on company website www.moderninsulators.com.

Dematerialisation processing status

• Dematerialisation requests processed; confirmed to depositories.
• Securities dematerialised are listed on stock exchanges.
• Physical certificates dematerialised were mutilated and cancelled; depository's name substituted as owner within 15 days.