Ashima Ltd

Cessation of Independent Director

• Neeraj Golas ceased to be Independent Director upon completion of his term, effective August 11, 2026.

AGM details

• AGM held on 6 August 2026 at 11:30 AM via VC/OAVM.
• Record date for voting entitlements: 30 July 2026.
• Remote e-voting period: 3–5 August 2026; voting during the AGM.
• Attendance via video conferencing: 7 promoter group, 40 public.
• Five resolutions were put to vote and passed.

Resolutions and outcomes

• Resolution 1: Adoption of audited financial statements for FY2026; passed.
• Resolution 2: Ordinary—appointment of director by rotation; passed.
• Resolution 3: Ordinary—appointment of Uttara Parikh as director; passed.
• Resolution 4: Special—remuneration to Uttara Parikh; passed.
• Resolution 5: Special—remuneration to non-executive directors; passed.

Director changes

• Chintan Parikh retires by rotation and is eligible for re-appointment; approved.
• Uttara Parikh appointed as Non-Executive Non-Independent Director.

Dividend and remuneration disclosures

• No dividend proposed or declared.

AGM details

• AGM held 06 Aug 2026 via VC/OAVM with remote voting Aug 3–5 and cut-off July 31.

Key resolutions

• Adopt standalone and consolidated financial statements for FY2025-26.
• Reappointment of Chintan N Parikh as Director by rotation.
• Appointment of Uttara Chintan Parikh as Non-Executive Non-Independent Director.
• Remuneration to Uttara Chintan Parikh as Non-Executive Non-Independent Director.
• Remuneration payments to Non-Executive Directors including Independent Directors.

Voting results

• Voting results to be declared within two working days after the AGM.

Dividend

• No dividend information disclosed in the filing.

Director changes

• Uttara Chintan Parikh appointed as Non-Executive Non-Independent Director.
• Chintan N Parikh to continue as Director by rotation (reappointment).

Auditor appointments

• No change in statutory, secretarial or cost auditors announced.

Material related party transactions

• No material related party transactions disclosed.

Other material approvals

• Remuneration approvals for non-executive directors presented.

Financial results

• Board approved Q1 FY2026-27 standalone and consolidated unaudited results.
• Cotton textile operations discontinued; disclosed as discontinued operations; assets held for sale.
• Consolidated results include Ashima Capital Management Limited; subsidiary's figures reviewed by another auditor.
• Subsidiary Q1 total income 93.41 Lacs; net profit after tax 60.82 Lacs.
• Total comprehensive income for the subsidiary 60.82 Lacs.
• Auditors' review states no material misstatement; results per Indian Accounting Standards 34.
• Board meeting held July 18, 2026; Audit Committee reviewed results.
• Figures rounded to nearest Rs in lacs.
• Standalone and consolidated results prepared under Ind AS 34.

Book closure and AGM details

• Book closure: July 30, 2026 to August 6, 2026 (inclusive) for Ashima Limited.
• Purpose: to record members for the 43rd AGM.
• Cut-off date: July 30, 2026; determines voting and attendance eligibility.
• AGM date and time: August 6, 2026 at 11:30 a.m. IST.
• Security type: Equity Shares.
• E-voting: Remote e-voting facility available for all resolutions.

Financial performance

• Standalone total income: 1,997 lac; up from 1,329.
• Consolidated total income: 2,186 lac; up from 1,360.
• Standalone PAT after tax: -2,164 lac; includes -1,563 lac from discontinued ops.
• Consolidated PAT after tax: -2,030 lac; continuing -467 lac; discontinued -1,563 lac.
• EPS: total -1.13; continuing -0.31; discontinued -0.82.
• No dividend declared for FY2025-26.
• Net debt to equity: 0.60x; net debt 16,421 lac; equity 27,569 lac.
• Cash flow from operations: -4,094 lac standalone; -4,029 lac consolidated.

Real estate performance

• Real estate revenue: 566 lac; Swan Lake and The Sovereign on hand.
• Revenue recognised under Ind AS 115 upon transfer of control.
• Projects progressing; staff expanded to accelerate delivery.

Investment activities

• PMS operations managed by ACML; TWRR 5.66% vs -3.12% benchmark.
• Since PMS transition in Mar 2025, TWRR 17.68% vs 3.67% benchmark.
• Investment strategy: value investing; managed by ACML.

Debt & liquidity

• Raised 12,000 lac via private placement NCDs in 2025-26.
• Two tranches on July 21 and July 31, 2025.
• Redeemed Subahu Enterprises LLP NCDs; 4,500 + 500 redemptions in 2025.
• Remaining NCDs outstanding: 2,675 lac.
• Current borrowings: 35 lac; non-current borrowings: 16,386; total borrowings 16,421.

Subsidiaries & consolidation

• Ashima Capital Management Limited is wholly owned.
• ACML to be treated as a material subsidiary from 2026-27.

Governance & leadership

• Chintan N. Parikh reappointed MD on Feb 7, 2026 for 3 years.
• Sanjay Majmudar redesignated to Non-Executive Non-Independent from Jan 6, 2026.
• Vanita Mathur appointed CEO from March 1, 2026.
• Board meetings: six in FY2025-26.

Audit & compliance

• Statutory auditors: Mukesh M. Shah & Co.; Secretarial: Shah & Shah Associates.
• Internal auditors: Dhirubhai Shah & Co. LLP.
• Secretarial audit: no qualifications; governance compliance certificate provided.

CSR, risk & controls

• CSR committee active; no CSR expenditure in 2025-26.
• Risk management framework in place; Audit Committee monitors risk.

Outlook & risks

• Outlook: Ahmedabad real estate expansion; PMS performance to drive value.
• Risks: execution costs, regulatory changes, and market volatility.

Meeting Details

• Date: 18 July 2026; time and venue not disclosed.

Key Agenda Items

• Consider and approve unaudited standalone and consolidated results for quarter ended 30 June 2026.

Other Notes

• Trading window closed from 1 July 2026 until 48 hours after results declaration on 18 July 2026.