Company and Document Overview
Grand Oak Canyons Distillery Limited (formerly Pacheli Industrial Finance Limited, CIN: L74110MH1985PLC037772) submitted its Annual Report for FY 2025-26 under Regulation 34 of SEBI Listing Regulations. The document serves as notice for the 41st Annual General Meeting (AGM) scheduled for September 26, 2026, at 1:00 PM IST through video conferencing and contains comprehensive financial results, accounting policies, and regulatory disclosures.
AGM Agenda Items
Ordinary Business
1. Approval of Audited Financial Statements: To consider and adopt the Balance Sheet as of March 31, 2026, Statement of Profit and Loss, Cash Flow Statement, Statement of changes in equity, and Notes to accounts along with reports of Board and auditors.
2. Reappointment of Director: Mr. Prabhakar Kumar (DIN: 11219679), Managing Director, retires by rotation and seeks reappointment.
Special Business
3. Appointment of Secretarial Auditor: To appoint M/s B. Kaushik & Associates as Secretarial Auditor for a four-year term from FY 2026-27 to 2029-30 at remuneration to be determined by the Board.
4. Reclassification of Authorized Share Capital: To reclassify existing authorized capital of ₹10,000 crore (100 crore equity shares of ₹10 each) into 75 crore equity shares of ₹10 each and 25 crore 2% preference shares of ₹10 each.
5. Issuance of Preference Shares: To issue up to 206.7 crore unlisted 2% non-convertible preference shares (NCPS) of ₹10 each (aggregating ₹2,067 crore) on preferential basis to three allottees: Alstone Textile (India) Limited, Hillridge Investment Limited, and Genesis Developers and Holdings Limited.
Key Financial Highlights (FY 2025-26)
- Total Revenue: ₹27.37 lakhs (previous year: ₹7.92 lakhs)
- Total Expenses: ₹22.01 lakhs (previous year: ₹508.53 lakhs)
- Profit Before Tax: ₹5.36 lakhs (previous year: loss of ₹500.61 lakhs)
- Tax Expense: ₹2.69 lakhs (current tax)
- Profit After Tax: ₹8.04 lakhs (previous year: loss of ₹500.61 lakhs)
- Earnings Per Share: ₹0.00 (previous year: -₹0.10)
- No dividend recommended for the financial year
Accounting Policies Summary
The document outlines comprehensive accounting policies adopted by the company in accordance with Indian Accounting Standards (Ind AS), including:
- Property, Plant and Equipment: Recognized at Fair Market Value less accumulated depreciation
- Leases (Ind AS 116): Right-of-use assets recognized for land & building leases
- Revenue Recognition: Recognized when probable economic benefits will flow to company
- Financial Instruments: Classified into four categories with impairment assessed using expected credit loss model
Significant Judgments and Estimates
The company identified several areas requiring significant judgment and estimation including recognition of deferred tax assets, classification of leases, defined benefit obligation measurements, provisions and contingencies, impairment of financial assets, allowances for doubtful debts, and fair value measurement.
Regulatory and Compliance Matters
- Secretarial Audit Report contained qualifications regarding non-compliance with Section 180(1)(c) for borrowing beyond limits, director committee memberships exceeding SEBI LODR limits, missing registration certificates for independent directors, and non-compliance with Section 186 for loans and investments.
- Statutory Auditors noted the company should have prepared financial statements under Ind AS but did not comply.
- Internal Financial Controls: Auditors expressed modified opinion on adequacy and operating effectiveness.
Trading History and Market Activity
The report includes comprehensive daily trading data from April 1, 2025 to March 30, 2026 showing stock price volatility ranging from ₹19.16 to ₹66.29 during the fiscal year with varying trading volumes.
Corporate Actions Timeline
- AGM Date: September 26, 2026
- Record Date: September 19-25, 2026 (for determining members entitled to vote)
- E-voting Period: September 23-25, 2026 (9:00 AM to 5:00 PM IST)
- Relevant Date for preference share pricing: September 4, 2026