AGM Details
The 80th Annual General Meeting will be held on Saturday, September 26, 2026, at 01:00 PM (IST) through Video Conferencing/Other Audio-Visual Means. The cut-off date for e-voting is September 20, 2026, and remote e-voting will be conducted from September 21, 2026 (09:00 AM) to September 25, 2026 (05:00 PM).
Financial Performance Highlights (Standalone FY 2025-26)
- Revenue from Operations: ₹23.71 crore (FY 2024-25: ₹21.85 crore)
- Other Income: ₹2.10 crore (FY 2024-25: ₹3.64 crore)
- Total Income: ₹25.81 crore (FY 2024-25: ₹25.50 crore)
- Profit/(Loss) Before Exceptional Items and Tax: ₹(6.89) crore loss (FY 2024-25: ₹0.53 crore profit)
- Exceptional Items: ₹0.21 crore
- Profit Before Tax: ₹(7.10) crore loss (FY 2024-25: ₹0.53 crore profit)
- Tax Expense: ₹6.51 crore (FY 2024-25: ₹(3.44) crore)
- Profit After Tax: ₹(13.60) crore loss (FY 2024-25: ₹3.96 crore profit)
- Reserves and Surplus: ₹34.83 crore (FY 2024-25: ₹46.48 crore)
- Earnings Per Share: ₹(27.20) (FY 2024-25: ₹0.50)
Share Capital Changes
- Authorized Capital: ₹30.00 crore equity shares of ₹2 each + ₹20.00 crore preference shares
- Paid-up Capital: ₹1.00 crore (5,000,000 equity shares of ₹2 each) as of March 31, 2026
- Previous Paid-up Capital: ₹15.79 crore (78,952,620 equity shares) as of March 31, 2025
- Capital Restructuring: Company extinguished existing equity share capital of 79,110,120 shares and issued 5,000,000 new equity shares pursuant to NCLT-approved resolution plan
- Minimum Public Shareholding: Achieved 10% public shareholding through OFS conducted on July 29-30, 2025 (2,50,000 shares) and March 18-19, 2026 (1,38,660 shares), with additional market sales of 1,11,340 shares on April 6, 2026
Auditor Changes
- Previous Auditor: M/s B K Shroff & Co., Chartered Accountants resigned effective June 18, 2026
- New Auditor: M/s Vyas & Vyas, Chartered Accountants appointed effective July 07, 2026, subject to shareholder approval at AGM
- Proposed Appointment: Seeking shareholder approval for appointment of M/s Vyas & Vyas for 5 years until 85th AGM
Key AGM Agenda Items
Ordinary Business
1. Adoption of audited standalone financial statements for FY ended March 31, 2026
2. Re-appointment of Mr. Ramesh Chandragiri Reddappa (DIN: 10535137) who retires by rotation
3. Appointment of M/s Vyas & Vyas as statutory auditors for 5 years and fixing their remuneration
Special Business
4. Appointment of M/s Vyas & Vyas to fill casual vacancy caused by resignation of previous auditors
5. Approval for providing corporate guarantee of ₹35 crore for credit facilities of Baumann Dekor Private Limited (holding company) and creating mortgage/pledge on company assets
6. Increase in NRI/OCI investment limits from 10% to 24% of paid-up capital
7. Enhancement in limits for investments/loans/guarantees/securities under Section 186 of Companies Act to ₹2,000 crore
8. Approval for conversion of loan from Successful Resolution Applicant (Baumann Dekor) into equity shares as per NCLT-approved resolution plan
9. Approval for availing non-interest bearing unsecured loan up to ₹50 crore from Mr. Ajay Bikram Singh (Director/Promoter) with conversion option
Material Related Party Transactions (Items 10-16)
Seeking shareholder approval for material related party transactions with estimated values:
- Warps and Wefts FZC: ₹20 crore each for FY 2026-27, 2027-28, 2028-29
- Design Coordinates FZC: ₹20 crore each for FY 2026-27, 2027-28, 2028-29
- Baumann Dekor Private Limited: ₹20 crore each for FY 2026-27, 2027-28, 2028-29
- Consilio Resource Private Limited: ₹5 crore each for FY 2026-27, 2027-28, 2028-29
- Baumann Dekor FZC: ₹20 crore each for FY 2026-27, 2027-28, 2028-29
- Shakuntla Sampling: ₹20 crore each for FY 2026-27, 2027-28, 2028-29
- Trendz Building Materials Trading LLC: ₹20 crore each for FY 2026-27, 2027-28, 2028-29
Corporate Structure
Board of Directors
- Mr. Ajay Bikram Singh (Chairman, Non-Executive Non-Independent Director)
- Mr. Sunil Kumar (Executive Director & CFO until June 30, 2026)
- Mr. Ramesh Chandragiri Reddappa (Executive Director)
- Mr. Deepak Kumar Gupta (Non-Executive Independent Director)
- Mr. Praveen Kumar Agarwal (Non-Executive Independent Director)
- Ms. Jyothi Thomas (Non-Executive Independent Director)
Key Managerial Personnel
- Mr. Ayush Goel (CFO from July 01, 2026)
- Mr. Nitin Dubey (Company Secretary)
Promoter & Promoter Group
1. Mrs. Veenu Kanwar (Promoter Group)
2. Mr. Ajay Bikram Singh (Promoter Group)
3. Mr. Abhay Singh (Promoter Group)
4. M/s Baumann Dekor Private Limited (Promoter)
5. M/s VFM Infraventures Private Limited (Promoter Group)
6. M/s Consilio Resources Private Limited (Promoter Group)
7. M/s Dorato Infrastructure Private Limited (Promoter Group)
Corporate Office
#39, Chandapura, Anekal Road, Bangalore, Karnataka - 562106
Manufacturing Units
- Unit 1: 411, Telugarahalli Road, Anekal, Bangalore - 562106
- Unit 2: #39, Chandapura, Anekal Road, Bangalore, Karnataka - 562106
- Unit 3: 11A, 2nd Cross Industrial Area, Nanjangud, Karnataka - 571301
- Unit 4: Falta Special Economic Zone, 24 Parganas (South), West Bengal
Corporate Governance
- Board met 12 times during FY 2025-26
- All independent directors confirmed meeting independence criteria
- Separate meeting of independent directors held on February 14, 2026
- Board committees include Audit Committee, Nomination and Remuneration Committee, and Stakeholders Relationship Committee
- Company has adopted vigil mechanism/whistle blower policy
Foreign Exchange Transactions
- Foreign Exchange Earnings: ₹18.11 crore
- Foreign Exchange Outgo: ₹6.57 crore
Dividend
No dividend recommended for FY 2025-26 as earnings retained for future projects.
Compliance Status
- No material orders passed by regulators/courts
- No fraud reported by auditors
- No sexual harassment complaints received
- Company compliant with applicable secretarial standards
Electronic Voting
National Securities Depository Limited (NSDL) engaged for facilitating remote e-voting and e-voting on AGM date.
Website Information
Annual report and AGM notice available at https://easternsilk.com/annual-report/ and https://easternsilk.com/notice-of-agm/