Financial Performance Highlights

FY 2025-26 Financial Results:

  • Revenue from Operations: ₹0 lakh (nil)
  • Other Income: ₹1.62 lakh (primarily interest income)
  • Total Expenses: ₹35.11 lakh
  • Finance Cost: ₹0.56 lakh
  • Other Expenses: ₹34.55 lakh (including auditors' remuneration ₹3.25 lakh)
  • Net Loss: ₹33.49 lakh
  • Earnings Per Share: Basic and Diluted (₹1.21) loss per share

Comparative FY 2024-25:

  • Net Loss: ₹9.89 lakh
  • Earnings Per Share: (₹1.08) loss per share

Financial Position as at March 31, 2026:

  • Total Assets: ₹26.38 lakh
  • Total Liabilities: ₹99.15 lakh
  • Negative Net Worth: ₹72.77 lakh (accumulated losses of ₹211.60 lakh completely eroded paid-up capital of ₹138.83 lakh)
  • Current Liabilities exceed Current Assets by ₹83.63 lakh
  • Cash and Cash Equivalents: ₹0.33 lakh

Annual General Meeting Details

91st AGM Date: September 25, 2026, at 3:00 PM

Meeting Mode: Video Conferencing/Other Audio Visual Means (VC/OAVM)

Record Date: September 18, 2026

Business to be Transacted:

Ordinary Business:

1. Adoption of audited standalone financial statements for FY 2025-26

2. Re-appointment of Ms. Aradhana Kurup (DIN: 07957633) who retires by rotation

3. Appointment of Vatsaraj & Co, Chartered Accountants (FRN: 111327W) as Statutory Auditors

Special Business:

4. Appointment of Ms. Aradhana Kurup as Managing Director for 5 years from August 21, 2026, without remuneration

5. Appointment of Sharvari Kulkarni & Associates as Secretarial Auditor for 5 years from FY 2026-27 to FY 2030-31

6. Approval for making investments, giving loans, providing guarantees or security up to ₹700 crore under Section 186 of Companies Act, 2013

Board and Committee Composition

Board of Directors as of March 31, 2026:

  • Aradhana Kurup (DIN: 07957535) - Executive Director
  • Ashith Nagindas Kampani (DIN: 00787535) - Independent Director
  • Ravindranath Reddy Banka (DIN: 10640869) - Independent Director
  • Jay Nareshbhai Tillani (DIN: 11812895) - Independent Director (w.e.f. 13th July 2026)
  • Somesh Yag Ratanchand Kapai (DIN: 02461397) - Non-executive, Non-Independent Director

Key Managerial Personnel:

  • Mangesh Narayan Shirodkar - Chief Financial Officer (resigned 15/04/2026)
  • Kodlu Ramakrishna Abhijit - Company Secretary
  • Gaurav Sakpal - Company Secretary (resigned 15/04/2026)

Committee Memberships:

  • Audit Committee: Ashith Nagindas Kampani (Chairperson), Ravindranath Reddy Banka, Jay Tillani, Somesh Yag Ratanchand Kapai
  • Nomination & Remuneration Committee: Same composition as Audit Committee
  • Stakeholders Relationship Committee: Same composition as Audit Committee

Auditor Appointments

Statutory Auditors: Vatsaraj & Co, Chartered Accountants (Firm Registration No. 111327W)

  • Appointed by Board on September 09, 2025, to fill casual vacancy caused by resignation of H.G. Sarvaiaya & Co
  • Seeking shareholder approval for appointment until AGM 2030

Secretarial Auditor: Sharvari Kulkarni & Associates

  • Appointed by Board on May 18, 2026, to fill casual vacancy
  • Seeking shareholder approval for 5-year term from FY 2026-27 to FY 2030-31

Internal Auditor: M/s NKSB & Co, Chartered Accountants

Capital Structure

Authorized Capital: ₹225.00 lakh (45,00,000 equity shares of ₹5 each)

Issued, Subscribed and Paid-up Capital: ₹138.83 lakh (27,76,512 equity shares of ₹5 each)

  • No change in share capital during FY 2025-26

Major Shareholders (holding >5%):

  • RRB Securities Limited: 14.75%
  • Apurva Investments Company Limited: 23.52%

Compliance and Regulatory Matters

SEBI Listing Regulations: Corporate Governance provisions not applicable as paid-up capital < ₹10 crore and net worth < ₹25 crore

Secretarial Audit Qualifications:

  • Non-compliance with Section 139(8) regarding statutory auditor appointment timeline
  • Delay in filing Regulation 34 with BSE (1 day delay, penalty ₹2,360 paid)
  • Non-filing of Form DPT-3 for FY 2024-25
  • Non-filing of Form MGT-14 for Board resolutions

Income Tax Contingencies:

  • Disputed demands of ₹7,93,019 for AY 2001-02 (₹3,80,360) and AY 2002-03 (₹4,12,659)
  • Potential unresolved tax payments/refunds of ₹9,22,934 from historical years

Material Developments

Going Concern Uncertainty: Auditors highlighted material uncertainty due to accumulated losses eroding net worth, current liabilities exceeding assets, and negative cash flows

Management Revival Plan: Board reviewing comprehensive revival business plan with proposed preferential issue of equity shares for operational liquidity

Financial Support: Promoters and related corporate entities expressed intent to provide financial support to meet statutory obligations

Loan Transactions: Unsecured loan of ₹15.00 lakh from director Mrs. Puja Satyen Dalal at 12% interest per annum

Other Disclosures

Dividend: No dividend recommended for FY 2025-26

Deposits: No public deposits accepted during the year

Corporate Social Responsibility: CSR provisions not applicable to the company

Related Party Transactions: Transactions with related parties at arm's length and in ordinary course of business

Vigil Mechanism: Policy established for directors and employees to report genuine concerns

Insider Trading: Code of Conduct adopted in accordance with SEBI PIT Regulations

Registration: Shares listed on BSE Limited

Registrar & Share Transfer Agent: MUFG Intime India Private Limited

Bankers: The South Indian Bank Limited, ICICI Bank Limited

#Tags: #AmalgamatedElectricity #AGM2026 #AnnualReport #SEBIDisclosure #FinancialResults #Negative #RegulatoryCompliance