Prima Industries Limited has convened its 32nd Annual General Meeting on September 28, 2026, at 11:00 AM in Cochin, Kerala. The meeting will consider several key resolutions including adoption of FY26 financial statements, reappointment of directors, and approval of new Memorandum and Articles of Association aligned with Companies Act 2013 requirements.
Financial Performance Highlights (FY 2025-26)
The company reported a significant turnaround with net profit of ₹42.47 million compared to a loss of ₹2.96 million in the previous year. This improvement was primarily driven by an exceptional gain of ₹41.69 million from preference share restructuring pursuant to an NCLT order dated January 21, 2026. Revenue from operations declined to ₹71.53 million from ₹75.48 million in FY25. The board has recommended no dividend for FY26 to conserve resources and set off accumulated losses.
Capital Structure and Preference Share Restructuring
Pursuant to the NCLT order, the company redeemed 51,97,403 cumulative redeemable preference shares and reissued new preference shares to Ayyappa Roller Flour Mills Ltd for a further 20-year period. The paid-up share capital stands at ₹10.79 crore equity capital and ₹6.00 crore preference capital post-restructuring.
Related Party Transactions
The AGM will ratify FY26 related party transactions totaling approximately ₹1.61 crore with group companies Ayyappa Roller Flour Mills, Prima Agro, and Prima Beverages. Additionally, shareholders will approve proposed transaction limits for FY27: ₹2.5 crore with Ayyappa, ₹1 crore with Prima Agro, and ₹25 lakh with Prima Beverage. All transactions are unsecured, interest-free, and repayable on demand.
Governance and Compliance Updates
The company has implemented SEBI-mandated dematerialization requirements and provides access to the Online Dispute Resolution Portal. The notice includes detailed e-voting procedures with voting open from September 25-27, 2026, through NSDL. Record date for determining voting eligibility is September 21, 2026.
Management and Board Changes
During the year, the company saw resignations of Ms. Neethu Subramoniyan (Independent Director), Ms. Sarita Jindal (Non-Executive Director), and Ms. Malavika S Kumar (Company Secretary). Ms. Nayana V B was appointed as Company Secretary effective August 1, 2025.
Business Overview
Prima Industries specializes in solvent extraction, edible oil refining, and cattle feed manufacturing with production capacities of 300 TPD for cattle feed, 200 TPD for solvent extraction, and 100 TPD for refining. The company maintains contract manufacturing partnerships with KSE Limited.
Regulatory Framework
The disclosure is made pursuant to Regulation 34(1) of SEBI Listing Regulations and Sections 134(3), 55(3), and 102 of Companies Act, 2013. The company has constituted all mandatory board committees and provides comprehensive corporate governance reporting as part of the annual report.