Ashnisha Industries Ltd

Ashnisha Industries Ltd trading window closes from Thursday, October 01, 2026 till 48 hours after the declaration of unaudited Financial Results for the quarter and half year ended September 30, 2026

Appointment: Independent Director

• Type of change: Appointment as Additional Independent Director.
• Effective: Aug 14, 2026 for five years (to Aug 13, 2031).
• Reason: Regularisation approved at AGM.
• Profile: 49-year-old with 20+ years in stock market and finance.
• Disclosure: No inter-se relation with other directors/KMPs.
• Directorships: Rhetan TMT Limited — Independent Director.
• Directorships: Ashoka Metcast Limited — Independent Director.
• Directorships: Gujarat Natural Resources Limited — Additional Independent Director.
• Board/Committee impact: NIL committee assignments reported.

AGM Details

• Date and time: 23 September 2026, 3:30 PM to 3:37 PM.
• Mode: VC/OAVM; meeting via video conference.
• Record date: 16-09-2026.

Key Resolutions

• Resolution 1 (Ordinary): Adoption of financial statements for year ended 31 Mar 2026.
• Resolution 2 (Ordinary): Re-appointment of director Shalin Shah.
• Resolution 3 (Ordinary): Appointment of M/s Keyur Bavlshl & Co. as Statutory Auditors.
• Resolution 4 (Special): Regularization of Mrs. Jhanvi Vikas Sethi as Independent Director.
• Resolution 5 (Special): Entering into material related party transactions with Rhetan TMT Limited.
• Resolution 6 (Special): Entering into material related party transactions with Lesha Industries Limited.
• Resolution 7 (Special): Entering into material related party transactions with Ashoka Metcast Limited.
• Resolution 8 (Special): Entering into material related party transactions with Gujarat Natural Resources Limited.

Voting Results

• Resolution 1: Passed; 100% in favor.
• Resolution 2: Passed; negligible opposition.
• Resolution 3: Passed; 100% in favor.
• Resolution 4: Passed; 99.92% in favour.
• Resolution 5: Passed; 99.92% in favour.
• Resolution 6: Passed; 99.92% in favour.
• Resolution 7: Passed; 99.91% in favour.
• Resolution 8: Passed; 99.92% in favour.

Dividend

• No dividend proposed or declared.

Director Changes

• Resolution 2: Re-appointment of Shalin Shah as director.
• Resolution 4: Regularization of Jhanvi Sethi as Independent Director.

Auditors

• Resolution 3: Appointment of M/s Keyur Bavlshl & Co. as Statutory Auditors.

Material Related Party Transactions

• Resolution 5: RPT with Rhetan TMT Limited approved.
• Resolution 6: RPT with Lesha Industries Limited approved.
• Resolution 7: RPT with Ashoka Metcast Limited approved.
• Resolution 8: RPT with Gujarat Natural Resources Limited approved.

Other Material Approvals

• No other material approvals noted.

AGM Details

• AGM held Sept 23, 2026, 03:30–03:37 PM, via VC/OAVM.

Resolutions Put to Vote

• Ordinary: Adoption of audited standalone and consolidated financial statements for year ended Mar 31, 2026.
• Ordinary: Re-appointment of Shalin Shah by rotation.
• Ordinary: Appointment of M/s Keyur Bavishi & Co as statutory auditor.
• Special: Regularization of Jhanvi Vikas Sethi as non-executive independent director.
• Special: Entering into material related party transactions with Rhetan TMT Limited.
• Special: Entering into material related party transactions with Lesha Industries Limited.
• Special: Entering into material related party transactions with Ashoka Metcast Limited.
• Special: Entering into material related party transactions with Gujarat Natural Resources Limited.

Voting Status

• Voting results not disclosed in filing; scrutiny report due within 2 working days.

Appointments/Changes

• Director by rotation: Shalin Shah re-appointment.
• Regularization: Jhanvi Sethi as non-executive independent director.
• Auditor: M/s Keyur Bavishi & Co appointed as statutory auditor.

Material Related Party Transactions

• RPT with Rhetan TMT Limited.
• RPT with Lesha Industries Limited.
• RPT with Ashoka Metcast Limited.
• RPT with Gujarat Natural Resources Limited.

Commencement of power generation

• Testing and commissioning completed; power generation has commenced at the Gujarat Solar Power Project.
• Approvals/permissions obtained from UGVCL, GEDA, and GETCO.
• Location: Village Un, Taluka Kankrej, District Banaskantha, Gujarat.
• Earlier disclosures dated 25 February 2025 and 5 March 2025 referenced.
• Expected to contribute to revenue and overall financial performance; supports sustainable energy initiatives.
• Company will continue to inform stock exchanges of material developments.

Non-email shareholder communications

• Letters sent to non-email shareholders with link to FY2025-26 Annual Report.

AGM notice and report access

• 17th AGM scheduled Sept 23, 2026 via VC.
• Notice and Annual Report for FY2025-26 available for download.

Voting mechanics and KYC

• E-voting window: Sept 20–22, 2026; cut-off Sept 16, 2026.
• KYC updates required with DP or RTA ahead of AGM.
• Correspondence queries to Purva Sharegistry for assistance.

Financial highlights

• Standalone revenue for FY2025-26 is ₹883.75 Lakhs.
• Standalone PAT ₹15.65 Lakhs.
• Consolidated revenue ₹1538.88 Lakhs.
• Consolidated PAT ₹24.53 Lakhs.
• Reserves & Surplus end ₹5005.93 Lakhs.
• Rights issue: 16,41,25,000 shares issued.
• Share capital increased to ₹2651.25 Lakhs via rights issue.
• Net borrowings (Standalone) ₹-434.43 Lakhs.
• Net borrowings (Consolidated) ₹-197.06 Lakhs.
• Cash and cash equivalents: Standalone ₹730.65 Lakhs; Consolidated ₹734.61 Lakhs.
• Dividend declared for FY2025-26: None.

Capital structure and equity

• Standalone equity stood at ₹7,657.18 Lakhs; consolidated ₹12,627.99 Lakhs.
• Non-controlling interest in group: ₹1,655.00 Lakhs.
• Issued and paid-up capital: ₹2,651.25 Lakhs after rights issue.

Green energy strategy and solar project

• Solar project: 1.5 MW; Banaskantha site, 410.71 hectares.
• MoU with Government of Gujarat; arrangements with UGVCL for revenue.
• Outlook: integrated green energy value chain across generation, transmission, and trading.

Related party transactions & governance

• RPT approvals for RTL, Lesha, AML, GNRL; cap ₹150 crore for FY2027-28.
• FY2025-26 RPTs: RTL purchases ₹272.19L; RTL sales ₹698.83L; LIL services ₹12L.
• Secretarial audit flagged Regulation 24(1) non-compliance; Adzillow to appoint independent director.

Board governance and independence

• New Independent Director Jhanvi Sethi appointed Aug 14, 2026.
• Deepti Gavali resigned Aug 7, 2026; board updated.
• Independent Directors met 23 Mar 2026 for performance evaluation.

Auditors & internal controls

• Statutory auditors Keyur Bavishi & Co appointed for five years (2026-2031).
• Secretarial auditor: Chintan K. Patel; no material modifications.
• Internal financial controls robust and in operation.

Risks and outlook

• Regulatory changes and compliance risk; solar project execution risk.
• Market risk from steel price volatility and supply chain disruptions.

AGM details

• Date/time: Sept 23, 2026 at 3:30 PM IST.
• Mode: VC/OAVM; registered office deemed venue.
• Record/book closure: Sept 17–23, 2026 (inclusive).
• Remote e-voting: Sept 20–22, 2026; cut-off Sept 16, 2026.
• Attendance: at least 1000 members via first-come basis.

Resolutions

• Ordinary: Adopt audited standalone and consolidated financial statements.
• Ordinary: Re-appointment of director by rotation.
• Ordinary: Appoint statutory auditors for five years; remuneration to be decided.
• Special: Regularization of independent director appointment for five years.
• Special: RPT with Rhetan TMT Limited up to Rs 150 crore for FY2027-28.
• Special: RPT with Lesha Industries Limited up to Rs 150 crore for FY2027-28.
• Special: RPT with Ashoka Metcast Limited up to Rs 150 crore for FY2027-28.
• Special: RPT with Gujarat Natural Resources Limited up to Rs 150 crore for FY2027-28.

Voting results

• Voting results are not provided in this excerpt.

Directors and auditors

• Independent director to hold for five years; not liable to retire by rotation.
• Statutory auditors proposed for five years; board to fix remuneration.

Material related party transactions

• RPTs with RTL, Lesha, Ashoka Metcast, and GNRL approved up to Rs 150 crore for FY2027-28.