Meeting Details

  • AGM Date: Wednesday, September 23, 2026
  • Time: 3:30 PM IST
  • Mode: Video Conferencing (VC)/Other Audio-Visual Means (OAVM)
  • Record Date: September 16, 2026
  • Register of Members Closure: September 17, 2026 to September 23, 2026 (both days inclusive)

Ordinary Business Items

1. Adoption of Financial Statements

To consider and adopt the audited standalone and consolidated financial statements of the Company for the year ended March 31, 2026, together with reports of the Board of Directors and statutory auditors. This will be passed as an Ordinary Resolution.

2. Reappointment of Director

To appoint Mr. Shalin Ashok Shah (DIN: 00297447) as a Director who retires by rotation and is eligible for reappointment. This will be passed as an Ordinary Resolution.

Director Details:

  • Holds 8,500,000 equity shares in the company
  • Attended 11 out of 11 board meetings during 2025-26
  • Also serves as director in: Gujarat Natural Resources Limited, Ashoka Metcast Limited, Lesha Industries Limited, Rhetan TMT Limited
  • Related to Mr. Ashok C. Shah (father-son relationship)

3. Appointment of Statutory Auditors

To appoint M/s. Keyur Bavishi & Co., Chartered Accountants (Firm Reg. No. 131191W) as statutory auditors for a term of five consecutive years from the conclusion of the 17th AGM until the conclusion of the 22nd AGM in 2031. This replaces M/s GMCA & Co. who completed their two consecutive terms. Remuneration to be mutually agreed between the Board and auditors. This will be passed as an Ordinary Resolution.

Special Business Items

4. Regularization of Independent Director Appointment

To regularize the appointment of Mrs. Jhanvi Vikas Sethi (DIN: 08593000) as Non-Executive, Independent Director with effect from August 14, 2026, for a term of five years until August 13, 2031. This will be passed as a Special Resolution.

Director Profile:

  • Age: 49 years (DOB: April 12, 1977)
  • Qualifications: Psychologist
  • Experience: Over 20 years in stock market and finance sector
  • Expertise: Financial markets, investment management, capital market operations, financial analysis
  • Shareholding: Nil
  • Also serves as independent director in: Ashoka Metcast Limited, Rhetan TMT Limited, Gujarat Natural Resources Limited
  • Not related to any other director/KMP

5-8. Material Related Party Transactions

To approve material related party transactions with four companies, each with a maximum aggregate value not exceeding ₹150 crore during financial year 2027-28. These will be passed as Special Resolutions.

Related Parties:

1. Rhetan TMT Limited - Manufacturer of basic iron & steel

2. Lesha Industries Limited - Trading of steel and other items

3. Ashoka Metcast Limited - Trading of steel and other items

4. Gujarat Natural Resources Limited - Oil & gas exploration

Transaction Nature:

  • Sale, purchase, lease or supply of goods
  • Procurement or rendering of services
  • Transfer of resources, services or obligations
  • Availing/advancing borrowings/inter-corporate loans/advances

Relationship Basis:

Multiple common directorships between Ashnisha Industries and the related parties:

  • Mr. Shalin Shah: Director of Ashnisha, MD of Rhetan TMT and Gujarat Natural Resources, Director of Ashoka Metcast and Lesha Industries
  • Mr. Ashok Shah: MD of Ashnisha, MD of Ashoka Metcast, Director of Gujarat Natural Resources, Rhetan TMT, and Lesha Industries
  • Other independent directors also serve on boards of multiple related companies

Financial Details of Related Parties (FY 2025-26):

  • Rhetan TMT Limited: Standalone turnover ₹2,444.07 lakh, net worth ₹10,861.41 lakh, net profit ₹1,029.78 lakh
  • Lesha Industries Limited: Standalone turnover ₹474.14 lakh, net worth ₹7,416.93 lakh, net profit ₹13.85 lakh
  • Ashoka Metcast Limited: Standalone turnover ₹3,732.21 lakh, net worth ₹12,197.12 lakh, net profit ₹1,513.20 lakh
  • Gujarat Natural Resources Limited: Standalone turnover ₹1,147.66 lakh, net worth ₹23,908.19 lakh, net profit ₹842.61 lakh

Previous Transactions (FY 2025-26):

  • With Rhetan TMT: Purchase of goods ₹272.19 lakh, Sale of goods ₹698.83 lakh, Purchase of service ₹32.90 lakh
  • With Lesha Industries: Purchase of service ₹12.00 lakh, Inter-corporate borrowings/advance received ₹2.70 lakh
  • With Gujarat Natural Resources: Inter-corporate borrowings/advance received (amount not specified)

Proposed Transaction Value:

  • Maximum ₹150 crore with each related party during FY 2027-28
  • Represents approximately 1,777.25% of company's annual consolidated turnover
  • Transactions will be interest-free, unsecured, and repayable on demand

Voting Arrangements

  • Remote e-voting period: September 20, 2026 (9:00 AM) to September 22, 2026 (5:00 PM)
  • E-voting service provider: Central Depository Services (India) Limited (CDSL)
  • Physical attendance dispensed with; only VC/OAVM participation allowed
  • Scrutinizer: Mr. Chintan K. Patel, Practicing Company Secretary

Additional Information

  • The company's registered office: Corporate House-2, Anam-2, Iscon Ambli BRTS Road, Near Vakil Saheb Bridge, Ambli, Ahmedabad - 380058, Gujarat
  • Company email: ashnishalimited@gmail.com
  • RTA: Purva Sharegistry (India) Private Limited
  • The company encourages dematerialization of shares and electronic communication