Please find attached herewith the Approval of Related Party Transactions for the renewal of the Hire Agreement(s).
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The Board of Inter State Oil Carrier Ltd, at its meeting on February 10, 2026, approved the renewal of three Hire Agreements with related parties for hiring of tankers and heavy motor vehicles. The largest deal is with Inter State Capital Markets Pvt. Ltd. (where Managing Director Sanjay Jain has significant influence) worth up to Rs. 20 crore per year for three years (May 2026 to May 2029). Two similar agreements were renewed with directors Siddhant Jain and Amann Jain, each capped at 10% of the company's previous year turnover. The Board also approved Q3FY26 unaudited results showing revenue from operations of Rs. 26.19 crore (up about 23% YoY from Rs. 21.25 crore), but profit after tax fell sharply to Rs. 20.69 lakh from Rs. 62.65 lakh in the same quarter last year. For the nine months ended December 2025, revenue grew to Rs. 76.91 crore while profit declined to Rs. 71.09 lakh from Rs. 100.35 lakh.
The related party transactions are operational and routine but will require shareholder approval at the upcoming AGM, so retail shareholders should watch for any dissent. The sharp drop in quarterly profit despite healthy revenue growth is a concern and may draw investor attention to rising costs or lower margins.