AGM Details

  • Date: Wednesday, September 30, 2026
  • Time: 10:00 AM
  • Venue: Vyanjan Banquet Hall, 46 First Floor, Oshiwara Link Plaza, Next to Oshiwara Police Station, Near Maheshwari Bhawan, Above Vyanjan Sweets, Link Road Extension, Andheri (West), Mumbai-400102
  • Record Date: September 23, 2026
  • Book Closure: September 24, 2026 to September 30, 2026 (both days inclusive)

Ordinary Business

1. Adoption of Financial Statements: To receive, consider and adopt Audited Financial Statements for FY ended March 31, 2026 with Reports of Board of Directors and Auditors

2. Director Re-appointment: Re-appointment of Mr. Vikramjit Singh Gill (DIN: 08875328) who retires by rotation

3. Statutory Auditor Appointment: Appointment of Ms. Riddhi Kishor Trivedi, Chartered Accountant (Membership No. 611547) to fill casual vacancy caused by resignation of M/s Bhatter & Associates. Proposed for 5-year term until conclusion of 46th AGM

Special Business

4. Related Party Transactions: Approval for transactions with related parties (Visagar Financial Services Limited, Visagar Polytex Limited, Maharashtra Corporation Limited, Trisha Studios Limited, Visagar Textiles Private Limited, Njoymax OTT Entertainment Private Limited, Sagar Portfolio Services Limited, Jagrecha Finance and Trades Private Limited) up to ₹25 crore with each party and aggregate ceiling of ₹200 crore during FY 2026-27

5. Borrowing Limits: Special Resolution to approve borrowing limit of ₹150 crore outstanding at any time (excluding temporary loans from bankers)

6. Loans/Guarantees/Investments: Special Resolution to authorize loans, guarantees, securities and investments under Sections 185 and 186 of Companies Act, 2013 up to aggregate outstanding of ₹200 crore

Financial Performance (FY 2025-26)

  • Revenue from Operations: ₹16.44 lakhs (Previous year: ₹266.55 lakhs)
  • Other Income: ₹0.02 lakhs (Previous year: ₹1.30 lakhs)
  • Total Expenses: ₹134.23 lakhs (Previous year: ₹338.95 lakhs)
  • Depreciation & Amortization: ₹21.72 lakhs (Previous year: ₹28.91 lakhs)
  • Loss Before Tax: ₹(117.77) lakhs (Previous year: ₹(71.10) lakhs)
  • Tax Expense: ₹1.49 lakhs (Deferred tax) (Previous year: ₹(0.38) lakhs)
  • Net Loss: ₹(119.27) lakhs (Previous year: ₹(70.71) lakhs)
  • Paid-up Share Capital: ₹9,843.28 lakhs (unchanged)

Key Financial Positions (as at March 31, 2026)

  • Property, Plant & Equipment: ₹506.67 lakhs
  • Goodwill: ₹5,712.06 lakhs
  • Other Intangible Assets: ₹7.81 lakhs
  • Investments: ₹470.07 lakhs (including quoted and unquoted shares)
  • Loans: ₹92.17 lakhs (unsecured)
  • Inventories: ₹2,348.58 lakhs
  • Trade Receivables: ₹287.74 lakhs
  • Cash & Cash Equivalents: ₹6.11 lakhs
  • Current Tax Assets: ₹13.88 lakhs
  • Other Current Assets: ₹1,134.40 lakhs
  • Borrowings: ₹212.82 lakhs (short-term inter-corporate loans)
  • Trade Payables: ₹3.31 lakhs
  • Other Current Liabilities: ₹576.63 lakhs

Board Composition & Changes

Directors as on March 31, 2026:

  • Mr. Tilokchand Kothari (Chairman & Executive Director)
  • Mr. Vikramjit Singh Gill (Executive Director, CFO)
  • Ms. Shiwaginee Jaiswal (Independent Director)
  • Mr. Shubham Gupta (Independent Director)
  • Ms. Anju Pareek (Independent Director)
  • Mr. Vikasjeet Singh (Non-Executive Director) - appointed August 12, 2025

Key Managerial Personnel Changes:

  • Ms. Archana Gupta resigned as Company Secretary effective August 04, 2025
  • Ms. Khushbu Bharkatya appointed as Company Secretary effective September 22, 2025, resigned July 20, 2026
  • Mr. Pushpraj Kumar Gupta appointed as Company Secretary effective July 23, 2026

Auditor Information

  • Statutory Auditors: M/s Bhatter & Associates (for FY 2025-26), replaced by Ms. Riddhi Kishor Trivedi
  • Secretarial Auditors: M/s Kirti Sharma & Associates
  • Internal Auditor: Mr. Lakhpat M. Trivedi
  • Audit Fees: ₹50,000 paid to M/s Bhatter & Associates

Compliance & Regulatory Matters

  • SEBI Penalty: Company paid ₹11,800 (including GST) for delay in submitting voting results of AGM held September 30, 2024
  • Secretarial Audit Observations:
  • Independent directors not registered with Independent Director's Databank
  • Failure to maintain SDD software
  • No material orders passed by regulators/courts impacting going concern status
  • No pending complaints under Sexual Harassment of Women at Workplace Act, 2013

Corporate Governance

  • Board Meetings: 7 meetings held during FY 2025-26
  • Committee Meetings: Audit Committee (4), Nomination & Remuneration Committee (3), Stakeholders Relationship Committee (1)
  • Director Remuneration: Total ₹5.73 lakhs paid to directors (excluding executive directors)
  • CEO/CFO Certification: Submitted to board as per Regulation 17(8) of Listing Regulations

Related Party Transactions

Transactions entered with related parties including Visagar Group companies, directors, and their relatives. Detailed disclosures provided in financial statements with amounts ranging from ₹0.60 lakhs to ₹184.70 lakhs for various transactions including loans, services, and remuneration.

Other Material Information

  • Dividend: No dividend recommended for FY 2025-26 due to losses
  • Transfer to Reserves: No amount transferred to reserves
  • Deposits: No deposits accepted during the year
  • Dematerialization: 99.85% of shares held in dematerialized form
  • Registrar & Transfer Agent: Adroit Corporate Services (P) Limited

#Tags: #ShalimarProductions #AGM2026 #SEBIDisclosure #RegulatoryCompliance #FinancialResults #Neutral