Company Overview

Sofcom Systems Limited, an IT services and consulting company, has disclosed its 31st Annual General Meeting notice along with the Independent Auditor's Report for FY 2025-26.

AGM Details and Corporate Actions

The company will hold its 31st AGM on September 30, 2026 via video conference to transact ordinary business including:

  • Adoption of audited standalone and consolidated financial statements for FY ended March 31, 2026
  • Appointment of M/s PMS HPS & Co. as Statutory Auditors for a 5-year term
  • Re-appointment of Ms. Tanvi Jay Rupawala as Managing Director

Financial Performance Analysis

Standalone Performance (₹ in Lakhs):

  • Revenue from operations declined sharply to ₹19.25 from ₹801.60 YoY
  • Total income decreased to ₹31.81 from ₹802.81
  • Profit after tax stood at ₹3.96 compared to ₹77.40 in previous year

Consolidated Performance (₹ in Lakhs):

  • Total assets: ₹969.80 (Previous year: ₹958.54)
  • Revenue from operations: ₹101.38
  • Profit after tax: ₹55.47 (Previous year: ₹77.80)
  • Earnings per share: ₹0.229 (Previous year: ₹0.85)

Auditor Findings and Compliance

Auditors PM SHPS & CO issued an unqualified opinion on the consolidated financial statements, confirming:

  • Compliance with Indian Accounting Standards (Ind AS) and Companies Act, 2013
  • Adequate internal financial controls operating effectively
  • No pending litigations impacting financial position
  • No material foreseeable losses from long-term contracts
  • Clean opinion on going concern status and investment verification

Regulatory Compliance Issues

The company faced multiple filing delays resulting in fines totaling ₹2.09 lakhs from BSE, including:

  • Delay in filing Consolidated Cash Flow Statement (fined ₹1,12,100)
  • Delay in submitting SDD Certificate under SEBI PIT Regulations
  • Delay in filing integrated governance report and shareholding pattern
  • Multiple other compliance filing delays ranging from 4-9 days

Corporate Governance and Structure

  • Board met 14 times during FY 2025-26 with full attendance by key management
  • No investor complaints received during the year
  • Registered office shifted from Jaipur to Surat effective June 22, 2026
  • No dividend recommended for FY 2025-26

Subsidiary Performance

Avian Consultancy Services Private Limited (96.39% owned) reported:

  • Turnover: ₹82.12 lakhs
  • Profit after tax: ₹51.51 lakhs
  • Total assets: ₹129.83 lakhs

Related Party Transactions

Significant transactions include remuneration to key personnel and loans from directors, with outstanding balances totaling ₹35.04 lakhs to related parties.

The comprehensive disclosure reflects a challenging financial year with significant revenue decline but maintained regulatory compliance and clean audit opinion, positioning the company for its upcoming AGM and future operations.