Annual General Meeting Details
Meeting Date: Friday, 25th September 2026 at 11:30 A.M.
Venue: UR Building, Basaweshwar Circle, Bellad, Bagewadi, Hukeri, Belgaum-591305, Karnataka, India
Cut-off Date: 18th September 2026
Remote E-Voting Period: 22nd September 2026 (09:00 A.M.) to 24th September 2026 (05:00 P.M.)
Scrutinizer: CS Gaurav Shenoy of GDS & Associates
E-Voting Service Provider: Bigshare
Business Items
1. Item No. 1: Adoption of Audited Standalone Financial Statements for FY ended 31st March 2026 (Ordinary Resolution)
2. Item No. 2: Re-appointment of Mr. Kush Katti (DIN: 02777189) who retires by rotation (Ordinary Resolution)
Financial Performance (Standalone) - Figures in ₹ Lakhs
| Particulars | FY 2025-26 | FY 2024-25 |
| Total Income | 94.66 | 80.94 |
| Profit Before Tax | 59.20 | 55.79 |
| Tax Expense | 14.85 | 13.92 |
| Net Profit | 44.35 | 41.87 |
Key Financial Position as at 31st March 2026:
- Total Assets: ₹1,879.94 lakhs
- Share Capital: ₹1,050.00 lakhs (5.25 crore equity shares of ₹2 each)
- Other Equity: ₹810.33 lakhs
- Cash and Cash Equivalents: ₹7.41 lakhs
- Bank Deposits: ₹1,532.94 lakhs
Operational Status and Future Plans
The company is currently pre-operative and in the process of procuring Environmental Clearances for projects. Management is optimistic about setting up the Sugar Plant and commencing operations in the coming years. No manufacturing operations were conducted during the financial year.
Dividend and Reserves
No dividend was recommended for the financial year 2025-2026 as the company is still in pre-operational stage. The company has not transferred any amount to reserves separately.
Directors and Key Managerial Personnel
Board Composition (as on 31st March 2026):
- Mr. Lava Ramesh Katti - Managing Director (DIN: 02777164)
- Mr. Nikhil Umesh Katti - Non-Independent Director (DIN: 02505734)
- Mr. Kush Ramesh Katti - Non-Independent Director (DIN: 02777189)
- Mr. Basavaraj Hagaragi - Independent Director (DIN: 07852512)
- Mrs. Pratibha Munnolli - Independent Director (DIN: 07852508)
- Mr. Makabul Kaseemsab Ammanagi - Independent Director (DIN: 10095125)
Key Managerial Personnel:
- Mr. Nitin D Karekar - CFO
- Mrs. Amita Singh - Company Secretary & Compliance Officer
No changes in director composition or KMPs during the year under review.
Corporate Governance and Committees
Board Meetings: 5 meetings held during FY 2025-26
Committees:
1. Audit Committee: Mr. Makabul Kaseemsab Ammanagi (Chairman), Mr. Basavaraj Veerappa Hagaragi, Ms. Pratibha Pramod Munnolli
2. Nomination and Remuneration Committee: Mr. Basavaraj Veerappa Hagaragi (Chairman), Mr. Nikhil Umesh Katti, Mr. Makabul Kaseemsab Ammanagi
3. Stakeholders' Relationship Committee: Mr. Nikhil Umesh Katti (Chairman), Mr. Basavaraj Veerappa Hagaragi, Mr. Lava Ramesh Katti
Shareholding Pattern (as on 31st March 2026)
- Promoter & Promoter Group: 26.67% (1,40,01,370 shares)
- Public Shareholders: 73.33% (3,84,98,630 shares)
- Entire equity share capital held in dematerialized form
- Mr. Lava Ramesh Katti holds 26.67% shares (1,40,01,370 shares)
Other Disclosures
- Foreign Exchange: No foreign exchange earned or used during the year
- CSR: Provisions not applicable to the company
- Employee Benefits: Employee benefit expense of ₹11.31 lakhs (same as previous year)
- Whistle Blower Policy: Vigil Mechanism Policy implemented, no complaints received during the year
- Sexual Harassment: No complaints received or pending under POSH Act
Management Discussion & Analysis
The report discusses global and Indian sugar industry scenarios, highlighting India's position as a prominent sugar-producing nation. The industry is transforming into comprehensive sugar complexes producing sugar, bioelectricity, bioethanol, and chemicals. The company acknowledges industry risks including cyclical patterns, regulatory uncertainties, and price fluctuations.
Forward Outlook
The Indian sugar industry is poised for advancements with projected increase in sugar production. Government initiatives for ethanol capacity expansion aim to reduce crude oil imports and channel excess sugar inventories into ethanol production. India targets achieving E20 blend by 2030.