AGM Details

The 41st Annual General Meeting of Varun Mercantile Limited is scheduled to be held on Wednesday, September 30, 2026 at 10:30 a.m. at the Registered Office of the Company at 147, 14th Floor, Atlanta, Nariman Point, Mumbai 400 021.

Business to be Transacted

Ordinary Business:

1. To consider and adopt the audited financial statement of the Company for the financial year ended March 31, 2026 and the reports of the Board of Directors and Auditors thereon

2. To appoint Shri Sanjay T. More (DIN: 07711625), who retires by rotation, as a Director

Special Business:

3. To re-appoint Ms. Kirti B. Chaudhari as Manager for a period of five years with effect from September 2, 2026

E-Voting Arrangements

The Company has engaged KFin Technologies Limited as the agency to provide e-voting facility. The remote e-voting particulars are:

  • EVEN (E-Voting Event Number): 10214
  • Remote e-voting period: September 26, 2026 (9:00 a.m.) to September 29, 2026 (5:00 p.m.)
  • Cut-off date for voting rights: Wednesday, September 23, 2026
  • Shares as on cut-off date will determine voting rights proportion

Financial Performance Highlights (FY 2025-26)

| Particulars | Current Year (2025-26) ₹ lakhs | Previous Year (2024-25) ₹ lakhs |

| Income | 37.85 | 37.86 |

| Expenses | 15.84 | 15.29 |

| Profit before Tax | 22.01 | 22.57 |

| Tax Expenses | 9.54 | 9.57 |

| Profit After Tax | 12.47 | 13.00 |

| Net Worth | 551.62 | 539.15 |

Dividend Declaration

The Board of Directors have not recommended any dividend on Equity Shares for the year under review.

Director Appointments and Resignations

  • Shri Sanjay T. More retires by rotation and seeks re-appointment
  • Ms. Jyothi A. Menon (DIN: 09484769) was appointed as Independent Director effective March 31, 2025
  • Shri Daudayal S. Lakhani resigned as Company Secretary effective July 15, 2025
  • Shri Piyush Oza was appointed as Company Secretary effective July 16, 2025

Manager Re-appointment Details

Ms. Kirti B. Chaudhari is proposed to be re-appointed as Manager with the following remuneration:

  • Annual remuneration: ₹8,89,000 per annum (including salary, perquisites and allowances)
  • Term: 5 years with effect from September 2, 2026
  • Previous remuneration (FY 2025-26): ₹8.84 lakhs per annum

Share Capital Structure

  • Authorized Capital: ₹300.00 lakhs (30,00,000 equity shares of ₹10 each)
  • Issued, Subscribed and Paid-up Capital: ₹199.20 lakhs (19,92,000 equity shares of ₹10 each)
  • No change in share capital during the year

Key Financial Ratios

| Ratio | Current Year (2025-26) | Previous Year (2024-25) | % Change |

| Current Ratio | 241.87 | 491.98 | -50.84% |

| Return on Net Worth (%) | 2.26% | 2.41% | -6.27% |

| Return on Capital Employed (%) | 3.99% | 4.19% | -4.70% |

Corporate Governance

The Company is exempt from compliance with corporate governance provisions under Regulation 15 of SEBI Listing Regulations as its paid-up equity share capital and net worth do not exceed specified thresholds.

Other Significant Information

  • Register of Members and Transfer Books will be closed from September 18, 2026 to September 21, 2026
  • The company has no subsidiaries, associates, or joint ventures
  • No material changes affecting financial position occurred between year-end and report date
  • The company had no employees on payroll during the year
  • No fraud reported by auditors
  • No pending litigations impacting financial position