Reg 34(1) Annual Report
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Incon Engineers Limited filed its 55th Annual Report for FY 2024-25 with AGM scheduled for September 29, 2025. Revenue from operations and other income fell sharply from Rs. 36.78 lakhs to Rs. 24.06 lakhs, a drop of about 35%. Loss after tax widened from Rs. (40.98) lakhs to Rs. (47.19) lakhs, and total comprehensive loss deepened to Rs. (47.93) lakhs. The company reports a negative net worth of Rs. (35.55) lakhs and only 3 permanent employees on its rolls. No dividend has been recommended. The Board is seeking shareholder approval for material related party transactions worth up to Rs. 8 crores per annum for FY 2025-26 with Oxeeco Technologies, Fusion Lastek Technologies, and Managing Director Sreedhar Chowdhury, valued at over 100% of annual turnover. New Secretarial Auditor MNM & Associates is being appointed for a 5-year term.
Shareholders should note the company is loss-making with negative net worth, declining revenue, and very small scale (3 employees, ~Rs 24 lakh revenue). The proposed related party transactions are large relative to the company's turnover and warrant close scrutiny at the AGM. Corporate governance provisions of SEBI LODR do not apply to the company given its small size.