Meeting Details

The AGM will be held on Tuesday, September 29, 2026 at 11:00 A.M. IST through electronic mode.

Ordinary Business

1. To receive, consider and adopt the Audited Statement of Profit and Loss for the year ended March 31, 2026 and the Balance Sheet as at that date together with Reports of Directors and Auditors.

2. To appoint a director in place of Lt. Gen. Sarab Jot Singh Saighal (Retd.), who retires by rotation and is eligible for re-appointment.

Special Business

3. Re-appointment of Chairman: Special Resolution for re-appointment of Lt. Gen. Sarab Jot Singh Saighal (Retd.) (DIN: 01518126) as Chairman for one year from October 1, 2026 to September 30, 2027.

  • Remuneration Details: Basic Salary: ₹90,000 per month; House Rent Allowance: ₹67,500 per month; Other Allowance: ₹67,500 per month; Company-provided car with driver; Mobile phone bills paid by company; Medical benefits as per company scheme.
  • Total Annual Remuneration: ₹27,00,000 (basic + allowances) plus perquisites.
  • Requires approval from Ministry of Home Affairs through Ministry of Civil Aviation.
  • In case of loss or inadequacy of profits, this remuneration will be paid as minimum remuneration.

4. Appointment of CEO: Special Resolution for appointment of Mr. Michael Lewis Edwin Barber as Chief Executive Officer for one year from August 11, 2026 to August 10, 2027.

  • Remuneration Details: Annual salary: USD 60,000 paid in equivalent INR monthly; Residential accommodation up to rental of ₹2,50,000 per month; Company-provided car and driver; Medical benefits; Three business class round trips annually.
  • Requires approval from Ministry of Home Affairs through Ministry of Civil Aviation.
  • In case of loss or inadequacy of profits, this remuneration will be paid as minimum remuneration.

5. Director Appointment: Ordinary Resolution for appointment of Mr. Hemang Rishi (DIN: 09838892) as Non-Executive Non-Independent Director, appointed as Additional Director from August 11, 2026.

Financial Performance (FY 2025-26)

  • EBITDA: ₹7,590.87 lakhs
  • Finance Cost: ₹3,656.14 lakhs
  • Depreciation and Amortization: ₹8,724.45 lakhs
  • Loss before tax and exceptional item: ₹(4,789.72) lakhs
  • Exceptional Item: ₹156.39 lakhs
  • Loss before tax: ₹(4,633.33) lakhs
  • Tax Expenses: ₹1,404.49 lakhs
  • Loss before tax: ₹(3,228.84) lakhs
  • Other Comprehensive Income: ₹292.29 lakhs
  • Total Comprehensive Income for the year: ₹(3,228.84) lakhs

Record Date and Voting Information

  • Register of Members and Share Transfer Books will remain closed from September 28, 2026 to September 29, 2026.
  • Remote e-voting period: September 25, 2026 (9:00 AM IST) to September 28, 2026 (5:00 PM IST).
  • Cut-off date for e-voting eligibility: September 22, 2026.
  • Scrutinizer: Mr. Martinho Ferrao, Proprietor, M/s. Martinho Ferrao & Associates, Company Secretaries, Mumbai.

Additional Information

  • The company operates in Offshore Transportation Services.
  • Incorporated on April 13, 1998 as Azal India Private Limited, with subsequent name changes to current name on October 10, 2005.
  • No export performance or foreign collaborations.
  • Detailed remote e-voting instructions provided for shareholders holding securities in both physical and demat mode.
  • InstaMeet VC instructions provided for attending the virtual meeting.

Authorizations

Mr. Raakesh D. Soni, Company Secretary (Membership No.: ACS 11200) authorized to file relevant forms with Registrar of Companies.