City Crops Agro FY26 Net Loss ₹393 Lakh

Financial Performance (₹ in Lakhs):

Revenue from Operations: ₹1,953.95 (FY25: ₹5,591.71)
Total Expenses: ₹704.08 (FY25: ₹5,333.95)
Loss Before Tax: ₹(393.18) (FY25: Profit ₹257.76)
Net Loss After Tax: ₹(393.16) (FY25: Profit ₹247.69)
Earnings Per Share (Basic & Diluted): ₹(2.41) (FY25: ₹1.52)

Capital Structure:

Reserves & Surplus:

13th AGM Date: Wednesday, 30th September 2026 at 3:00 PM IST through Video Conferencing
Record Date: Wednesday, 23rd September 2026 for determining shareholders eligible to vote
E-voting Period: 27th September 2026 (9:00 AM) to 29th September 2026 (5:00 PM)
Register of Members Closure: 23rd to 30th September 2026 (both days inclusive)

Key Managerial Personnel:

Board Changes during FY26:

Ms. Priyanka Gola resigned as Independent Director w.e.f. 7th July 2025
Mr. Ish Sadana appointed as Additional Independent Director w.e.f. 4th February 2026
Ms. Pooja Pandey appointed as Additional Independent Director w.e.f. 13th April 2026

Committee Composition:

Audit Committee: Ms. Pooja Pandey (Chairperson), Mr. Ish Sadana, Mr. Kaupilkumar Shah
Nomination & Remuneration Committee: Ms. Pooja Pandey (Chairperson), Ms. Shitalben Shah, Mr. Ish Sadana
Stakeholders' Relationship Committee: Ms. Pooja Pandey (Chairperson), Ms. Shitalben Shah, Mr. Ish Sadana

Ordinary Business:

1. Adoption of audited financial statements for FY ended 31st March 2026

2. Re-appointment of Mr. Kaupilkumar Shah who retires by rotation

Special Business:

3. Regularization of appointment of Mr. Ish Sadana as Non-Executive Independent Director for 5 years (4th February 2026 to 3rd February 2031)

4. Regularization of appointment of Ms. Pooja Pandey as Non-Executive Independent Director for 5 years (13th April 2026 to 12th April 2031)

Statutory Auditor (M/s. VSSB & Associates) - Qualified Opinion:

1. Company has not remitted income tax liabilities for FY 2022-23, 2023-24 & 2024-25 (₹170.12 lakh demand outstanding)

2. GST registration inactive for prolonged period, no returns filed, RCM liability not recognized

3. Advance of ₹300.25 lakh from IPO proceeds for agricultural land development remains unsubstantiated

4. Trade receivables of ₹2,060.03 lakh subject to confirmation, no provision for doubtful debts

5. Trade payables of ₹658.79 lakh subject to confirmation and reconciliation

6. Entire opening stock of ₹1,643.05 lakh written off due to perishable nature

Secretarial Auditor (M/s. Jay Pandya & Associates) - Qualifications:

1. Non-compliance with Regulation 6(1) of SEBI LODR regarding appointment of qualified Company Secretary for June 2025 quarter

2. Unable to verify utilization of ₹300.25 lakh IPO advance due to lack of supporting documentation

Inventory Write-off: ₹1,643.05 lakh recognized as exceptional item due to destruction of perishable stock
Tax Contingencies: ₹170.12 lakh in income tax demands outstanding, no provision for interest
IPO Proceeds Utilization: ₹300.25 lakh advance for agricultural land development remains outstanding and unsubstantiated
Trade Receivables: ₹2,060.03 lakh outstanding, including ₹421.88 lakh overdue for 1-2 years

Company has vigil mechanism/whistle blower policy and business conduct policy
No cases filed under Sexual Harassment of Women at Workplace Act, 2013
No fraud reported by auditors under Section 143(12) of Companies Act, 2013
Board carried out annual performance evaluation of directors, committees, and itself

Shareholding Pattern: Promoters hold 54.70% (Mr. Kaupilkumar Shah: 31.67%, Ms. Shitalben Shah: 23.03%)
Internal Financial Controls: Auditors expressed unmodified opinion on adequacy and operating effectiveness
Related Party Transactions: All transactions entered at arm's length basis in ordinary course of business
Segment Reporting: Single segment - Trading in Agriculture Product
Corporate Social Responsibility: Provisions of Section 135 not applicable to the company