Financial Statements and Annual Report

  • Approved the Audited Financial Statements for FY 2025-26 along with the Independent Auditors' Report
  • Approved the Annual Report for FY 2025-26, including Directors' Report and its annexures, Management Discussion and Analysis, Corporate Governance Report and other applicable reports/statements
  • Recommended these for approval by members at the ensuing 13th Annual General Meeting

Appointments and Reappointments

  • Recommended the re-appointment of M/s. PPN & Co., Chartered Accountants (Firm Registration No. 013623S) as Statutory Auditors for a further term from the conclusion of the 13th AGM until the conclusion of the 15th AGM
  • Considered and approved the re-appointment of Mr. Jaganmohan Manthena (DIN: 03139809) as Non-Executive Director, subject to member approval
  • Appointment of Mrs. Sri Vidhya Kumar, Practicing Company Secretary (ICSI Membership No. F11114 and C.P. No. 20181) as Scrutinizer for conducting remote e-voting process for the AGM

Remuneration Revisions

  • Recommended revision in remuneration payable to Capt. Deepak Parasuraman (DIN: 00699855), Chairman and Managing Director
  • Recommended revision in remuneration payable to Mr. Kannan Ramakrishnan (DIN: 08202306), Whole-Time Director
  • Both remuneration revisions subject to approval of members at the ensuing AGM

Capital Structure Changes

  • Approved increase of Authorised Capital from existing ₹30,00,00,000 (3,00,00,000 equity shares of ₹10 each) to ₹40,00,00,000 (4,00,00,000 equity shares of ₹10 each)
  • Approved consequent alteration in Clause V of the Memorandum of Association relating to share capital
  • Subject to approval of shareholders at the ensuing AGM

Borrowing Limit Enhancement

  • Approved enhancement of the Company's borrowing limit to ₹500 crore pursuant to Section 180(1)(c) of the Companies Act, 2013
  • Subject to approval of shareholders at the ensuing AGM

Employee Stock Option Scheme

  • Approved formulation and implementation of Employees stock option scheme(s) up to 10% of the existing diluted paid-up equity share capital
  • Subject to approval of shareholders at the ensuing AGM

Investment and Business Expansion

  • Authorized proposed investment, business expansion and induction of strategic investors in Afcom Cargo FZCO
  • Authorized identification, negotiation and finalization of suitable strategic partners/investors
  • Authorized restructuring of shareholding of Afcom Cargo FZCO where appropriate
  • Subject to applicable laws and regulatory approvals

Investment Committee

  • Constituted Investment Committee comprising Capt. Deepak Parasuraman (Managing Director) and Mr. Kannan Ramakrishnan (Whole-Time Director)
  • Committee will evaluate, review and recommend investment proposals to the Board

Warrant Conversion and Equity Allotment

  • Approved conversion of 2,00,000 warrants into equal number of equity shares
  • This follows intimation dated December 17, 2025 regarding allotment of 11,65,000 convertible warrants at issue price of ₹863.17 each (face value ₹10, premium ₹853.17)
  • Two warrant holders applied for conversion along with receipt of remaining exercise price of ₹647.37 per warrant (75% of issue price)
  • Post-allotment paid-up equity share capital increased from 2,87,13,616 shares (₹28,71,36,160) to 2,89,13,616 shares (₹29,89,36,160)
  • Warrant holders can convert balance warrants by June 17, 2027 (18 months from date of allotment)
  • New equity shares rank pari passu with existing equity shares
  • Equity shares allotted are locked in as per Chapter V of SEBI (ICDR) Regulations, 2018
  • Application for listing and trading approval to be made in due course

Allottee Details

  • Rupal Mehta (Public category): 1,00,000 warrants converted to 1,00,000 equity shares, payment of ₹6,47,37,750
  • Yash Jasbir Oberoi (Public category): 1,00,000 warrants converted to 1,00,000 equity shares, payment of ₹6,47,37,750

Annual General Meeting

  • Fixed 13th Annual General Meeting on Friday, September 25, 2026, at 3:30 P.M. (IST) through Video Conferencing or Other Audio-Visual Means
  • Notice and relevant documents to be dispatched to shareholders in due course

Director Profile - Mr. Jaganmohan Manthena

  • Age: 59 years
  • Qualifications: Post-Graduate in Aviation Law & Air Transport Management (NALSAR, Hyderabad, 2016); Post-Graduate Diploma in Sustainable Global Enterprise & E-Marketing (IIM, Shillong); alumnus of National Defence Academy
  • Areas of expertise: Aviation, Governance, Defence Operations, Administration
  • Not related to any Directors or Key Managerial Personnel
  • Directorships: Man Airways and Services Private Limited, Afcom Holdings Limited, RemNutri Health Private Limited, Frontier Fusion Studios (LLP)
  • Committee Membership: Audit Committee and Nomination and Remuneration Committee of Afcom Holdings Limited
  • No resignations from listed entities in past three years
  • Shareholding: 12,91,183 equity shares as on March 31, 2026
  • No sitting fees paid for attending Board and Committee meetings; no remuneration proposed
  • First appointed on April 20, 2018; attended 4 out of 6 Board Meetings during FY 2025-26
  • Skills: Strategic leadership, operational management, crisis handling, aviation expertise, governance and defence administration

Authorization

  • Authorized Directors and/or Company Secretary to undertake necessary statutory and regulatory filings with Registrar of Companies, Stock Exchange, Depositories and other regulatory authorities

Disclosure

  • Disclosure will be hosted on company website: https://afcomcargo.com/