AGM Details
The 15th Annual General Meeting is scheduled to be held on Wednesday, September 30, 2026 at 03:30 P.M. IST through Video Conferencing (VC)/Other Audio-Visual Means (OAVM) in compliance with MCA Circular No. 03/2025 dated September 22, 2025 and SEBI Listing Regulations.
The meeting will be deemed to be conducted at the Registered Office of the Company situated at A/1005, 10th Floor, A Wing, Kanakia Wall Street, Andheri Kurla Road, Andheri (East), Mumbai-400093.
Business Items to be Transacted
1. Adoption of Financial Statements
To consider and adopt the Audited Financial Statements (Standalone & Consolidated) of the Company for the financial year ended March 31, 2026 together with the Board's Report and Auditors' Report thereon.
2. Re-Appointment of Mr. Sanjay Ram Takale (DIN: 07111445)
Ordinary Resolution for re-appointment of Mr. Sanjay Ram Takale who retires by rotation. He was appointed on May 4, 2022, holds 24,11,765 equity shares, attended 7 out of 7 board meetings in FY26, and has expertise in motorsports with background in commerce and law.
3. Re-Appointment of Mr. Prem Singh Rawat (DIN: 01423453)
Ordinary Resolution for re-appointment of Mr. Prem Singh Rawat who retires by rotation. He was appointed on September 2, 2023, age 63 years, B.Com graduate with PG Diploma in Personnel Management & Industrial Relations, and has 35+ years experience in business strategy, industrial relations, sales, marketing, and operations.
4. Appointment of Secretarial Auditor
Ordinary Resolution to appoint M/s. Dipti Nagori & Associates (Peer Review Firm Registration Number: 1902/2022) as Secretarial Auditor of the Company for a term of 5 consecutive financial years commencing from FY26-27 to FY30-31. Remuneration for FY26-27 is fixed at ₹1,00,000 (excluding applicable taxes and out-of-pocket expenses). Ms. Dipti Nagori has over 15 years of experience in corporate laws and secretarial compliances.
5. Approval for Payment of Remuneration to Mr. Prem Singh Rawat
Special Resolution required under Regulation 17(6)(ca) of SEBI Listing Regulations as the remuneration exceeds 50% of total annual remuneration payable to all Non-Executive Directors.
- For FY25-26: Ratification of remuneration up to ₹24,00,000 already paid/payable
- For FY26-27: Approval for remuneration up to ₹40,00,000
- This represents minimum remuneration as the Company has inadequate profits/losses
- Remuneration is exclusive of sitting fees and expense reimbursements
- Board authorized to determine actual amount within the ceiling
Financial Performance
The Company has reported continued losses:
| Particulars | FY2026 | FY2025 | FY2024 |
| Total Income | ₹403.96 | ₹302.06 | ₹150.83 |
| Profit/(Loss) Before Interest, Depreciation, Exceptional items & tax | (₹1012.37) | (₹382.12) | (₹98.64) |
| Depreciation & Amortisation | ₹210.19 | ₹113.57 | ₹30.60 |
| Profit before Taxation | (₹1222.55) | (₹495.69) | (₹129.24) |
| Provision for Taxation (incl. deferred tax) | (₹22.26) | (₹12.02) | ₹0.11 |
| Profit/(Loss) after Taxation | (₹1200.29) | (₹483.67) | (₹129.35) |
Business Context
The Company is currently in the project implementation and research & development phase of its solar business and is establishing its manufacturing facility. The commissioning of the factory is expected to be completed during FY26-27, following which commercial production and revenue generation from the solar business are expected to commence.
The Company has incorporated Aerpace General Trading LLC in the United Arab Emirates to undertake a similar line of business, though proposed investment in this entity is yet to be made.
Shareholder Information
- Record Date: September 23, 2026
- Remote e-Voting Period: September 26, 2026 (09:00 A.M.) to September 29, 2026 (05:00 P.M.)
- Registrar and Transfer Agent: Purva Sharegistry (India) Private Limited
- Physical attendance dispensed with due to virtual meeting format
- Proxy facility not available for this AGM
- Annual Report sent electronically to members with registered email addresses