Malt Land Distilleries Limited (formerly Abhijit Trading Co. Ltd.) disclosed its FY 2025-26 financial results and convened its 44th Annual General Meeting while simultaneously revealing significant regulatory non-compliances identified through secretarial audit.
Financial Performance: The company reported total income of ₹91.05 lakhs (down from ₹103.69 lakhs previous year) and net profit of ₹23.24 lakhs (₹29.69 lakhs previous year), with earnings per share at ₹0.08. Key balance sheet items included borrowings of ₹3,11,820.24 lakhs, investments of ₹2,97,748.35 lakhs, and equity share capital of ₹2,970.10 lakhs.
AGM and Corporate Actions: The 44th AGM is scheduled for September 29, 2026, via video conferencing, with agenda items including adoption of financial statements, re-appointment of Managing Director Virendra Jain, and special business requiring shareholder approval for shifting the registered office from Maharashtra to Uttarakhand. The company also appointed Parul Aggarwal & Associates as Secretarial Auditor for a four-year term.
Regulatory Non-Compliances: The secretarial audit revealed multiple violations under Companies Act and SEBI LODR regulations. The company failed to obtain required approvals for loans, investments totaling ₹47.43 lakh in related party transactions, and did not meet CSR obligations for FY 2025-26. Additional governance issues included independent directors lacking mandatory certificates and one director exceeding committee membership limits.
Board Composition: The current board consists of Managing Director Virendra Jain, Independent Women Director Promila Sharma, and Independent Directors Asutosh Arun Sahu and Sanjay Tulsidas Bhanushali, following several resignations during the year. The company maintained proper board committees but faced challenges in regulatory adherence.
Operational Status: No trading activity occurred during the financial year, and the company held investments in five associate companies. The shareholding pattern showed 15.87% promoter holding and 84.75% public holding, with 99.86% of shares in dematerialized form.
The disclosure presents a mixed picture of routine corporate proceedings alongside serious regulatory compliance failures that may attract regulatory scrutiny and require corrective actions.