New Delhi: Ircon International Limited (IRCON) held its 50th Annual General Meeting (AGM) on September 24, 2026, through Video Conferencing/Other Audio Visual Means. The meeting was chaired by Saleem Ahmad, Chairman and Managing Director & CEO.
A total of 82 shareholders, including the representative of the Government of India, attended the meeting. The requisite quorum was present throughout the proceedings.
Shareholders considered and approved nine resolutions, covering the adoption of financial statements, dividend, appointments and re-appointments of directors, and auditor-related matters.
IRCON AGM Approves ₹0.70 Final Dividend for FY26
One of the key decisions at the AGM was the declaration of a final dividend of ₹0.70 per equity share for FY 2025-26. Shareholders also ratified the previously paid interim dividend of ₹1.20 per share.
With both payouts, the total dividend for FY26 stands at ₹1.90 per equity share, against a face value of ₹2 per share.
The total dividend payout for FY26 amounts to approximately ₹178.70 crore, comprising:
- Interim dividend: ₹1.20 per share, amounting to ₹112.86 crore
- Final dividend: ₹0.70 per share, amounting to ₹65.84 crore
- Total dividend: ₹1.90 per share
- Total payout: ₹178.70 crore
Shareholders Approve Board Appointments
Shareholders approved several proposals concerning the company’s Board of Directors.
The key appointments and re-appointments included:
- Saleem Ahmad appointed as Chairman & Managing Director
- Rajesh Naik appointed as Director (Projects)
- Smt. Ragini Advani, Director (Finance), re-appointed following retirement by rotation
- Smt. Suman Bala appointed as Independent (Part-time Non-Official) Director through a special resolution
The appointments of Saleem Ahmad and Rajesh Naik are liable to retirement by rotation.
Financial Statements for FY26 Adopted
The shareholders approved the audited standalone and consolidated financial statements of IRCON for the financial year ended March 31, 2026.
The Statutory Auditors’ Report contained no qualifications, while the Comptroller and Auditor General of India (C&AG) issued nil comments on the company’s accounts.
The Board was also authorised to fix the remuneration of the Statutory Auditors for FY 2026-27, subject to the applicable C&AG appointment guidelines.
Cost Auditors’ Remuneration Ratified
The AGM also approved the ratification of the remuneration of Cost Auditors for FY 2026-27.
The resolution formed part of the special business considered by shareholders during the meeting.
All Nine Resolutions Passed
Voting results confirmed that all nine resolutions placed before shareholders were passed with the requisite majority.
The resolutions covered:
- Adoption of audited standalone and consolidated financial statements
- Declaration of final dividend
- Confirmation of interim dividend
- Re-appointment of Director (Finance)
- Appointment of Director (Projects)
- Appointment of Chairman & Managing Director
- Appointment of Independent Director
- Statutory Auditors’ remuneration
- Cost Auditors’ remuneration
AGM Proceedings and E-Voting
Remote e-voting for the AGM was conducted from September 21 to September 23, 2026. Shareholders were also provided an e-voting facility during the AGM.
Sachin Agarwal of M/s Agarwal S. & Associates was appointed as the Scrutinizer for the voting process.
The meeting concluded at 1:41 P.M. (IST).
Chairman Highlights Financial and Operational Performance
During the AGM, the Chairman provided an overview of IRCON’s financial and operational performance for the year ended March 31, 2026, along with the company’s future outlook.
The meeting also provided shareholders an opportunity to consider key corporate governance, financial and Board-related matters for the company.
About IRCON International
Ircon International Limited (IRCON) is a Navratna Central Public Sector Enterprise under the Ministry of Railways, Government of India. The company is engaged in infrastructure development, particularly in railway and highway projects, and undertakes large-scale engineering and construction projects in India and overseas.
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