Asian Hotels (East) Ltd

• No meeting details disclosed in this filing excerpt.

Key dates and purpose

• Book closure from 22 Aug 2026 to 27 Aug 2026 (inclusive) for AGM.
• Cut-off date for voting eligibility: 21 Aug 2026.
• AGM date and time: 27 Aug 2026 at 11:00 AM.
• Event type: 19th AGM via video conferencing.

Financial performance (standalone)

• Revenue (standalone) Rs 12,228.74 lakh for FY2025-26.
• PAT Rs 2,768.89 lakh; EPS Rs 16.01.
• Total Comprehensive Income Rs 2,772.90 lakh.
• Dividend for FY2025-26 not declared.
• Consolidated results reflect impairment on GJS Hotels impacting profits.
• Net worth rose by about Rs 25.99 crore.
• Promoter holding 65.63% as of 31 March 2026.
• Shares outstanding 17,291,696; equity Rs 1,729.17 lakh.
• Standalone cash and cash equivalents Rs 100.51 lakh.

Operational performance & capital expenditure

• Hyatt Regency Kolkata occupancy 77.3% in FY2025-26.
• ADR Rs 8,669; RevPAR rank 2 in market.
• Brand mix shifted to brand.com and online distributors.
• Wedding, corporate MICE and sports blocks drove group bookings.
• No material business changes; operations stable.
• Two wholly owned subsidiaries: Novak Hotels Pvt Ltd and GJS Hotels Ltd.
• CWIP for HRM acquisition capitalised; Novak underway.

Capital structure & liquidity

• Total borrowings stand at Rs 144.18 crore.
• Net debt to equity ratio 0.66x.
• Promoter holding 65.63%; major promoter group share.
• Standalone cash Rs 100.51 lakh; consolidated cash Rs 511.27 lakh.
• Dividend: final dividend for FY2024-25 paid; 2025-26 none.
• CWIP for HRM acquisition Rs 46,401.59 thousand.

Governance & board

• Board size six; three independent; one woman director.
• Sandipan Chakravortty reappointed as Independent Director for 2026-31.
• Devesh Saraf to be reappointed; retires by rotation.
• 19th AGM held via VC/OAVM on 27 Aug 2026.
• AGM agenda includes reappointment and age-75 continuation provisions.
• Board met four times in the year; attendance recorded.

Audits & internal controls

• Standalone audit: qualified due to unrecognised impairment on GJS.
• Consolidated audit: qualified; goodwill impairment on GJS; recoverability uncertain.
• Internal controls: material weakness identified; impairment testing not adequately designed.
• Secretarial audit: Annexure A; no director debarment noted.
• Audit Committee: three members; five meetings; oversight of internal controls.

Related party disclosures

• Loans to subsidiaries: GJS Rs 483.39 lakh; Novak Rs 24,928.50 lakh.
• Interest income on Novak Rs 1,961.66 lakh.
• Intercompany borrowings from holding company Rs 48,338.72 lakh.
• Policy on related party transactions disclosed on company website; reviewed quarterly.

CSR & ESG

• CSR spend Rs 69.00 lakh; 2% average net profit Rs 68.10 lakh; excess Rs 0.90 lakh.
• CSR policy and projects disclosed on company website.
• Projects include education, medical and humanitarian activities.

Subsidiaries status & litigation

• Novak Hotels Pvt Ltd and GJS Hotels Limited are non-operational.
• Odisha lease matter: govt order to vacate; stay in place; petition ongoing.
• Novak funding: HRM acquisition; capitalised costs and borrowings disclosed.

Risks & outlook

• Key risks: talent attrition; rising competition from renovated/new hotels.
• Regulatory developments (Labour Codes) may affect operations; monitoring ongoing.
• Positive long-term outlook for Kolkata hospitality; ADR growth supports pricing power.

AGM Details

• Date/time: 27 August 2026 at 11:00 IST; through video conferencing/other audio-visual means.
• Meetings mode: VC/OAVM; deemed to be conducted at registered office per SS-2 guidance.
• Book closure: 22 August 2026 to 27 August 2026 (both days inclusive).
• Cut-off date for voting: 21 August 2026.

Key Resolutions

• Ordinary: adopt standalone financial statements for year ended 31 March 2026.
• Ordinary: adopt consolidated financial statements for year ended 31 March 2026.
• Ordinary: reappoint Devesh Saraf as Director (retires by rotation).
• Special: reappoint Sandipan Chakravortty as Independent Director for a second five-year term.
• Special: continue Sandipan Chakravortty as Non-Executive Director due to age (75).

Voting Results

• Adoption of standalone financial statements: outcome not disclosed in filing.
• Adoption of consolidate financial statements: outcome not disclosed in filing.
• Reappointment of Devesh Saraf: outcome not disclosed in filing.
• Reappointment of Sandipan Chakravortty: outcome not disclosed in filing.
• Continuation of Sandipan Chakravortty as Non-Executive Director: outcome not disclosed in filing.

Dividend

• Dividend: Board did not propose or declare any dividend for FY2025-26.

Director Changes

• Directors: Devesh Saraf to be reappointed; Sandipan Chakravortty to be reappointed as Independent Director; Sandipan Chakravortty to continue as Non-Executive Director (age).

Auditor Appointments

• Statutory Auditor: M/s Singhi & Co.; appointed previously for five-year term; remuneration for year-end 31 March 2026: Rs 12.96 million.
• Secretarial Auditor: M/s Priyanka Rudra & Associates; tenure: five years; COP No. 25258.
• Internal Auditor: M/s S.K. Agarwal & Co.; remains in place for the year ended 31 March 2026.

Material Related Party Transactions

• Dividends paid to related parties: promoters/KMPs totaling ₹113.49 lakh.
• Outstanding related-party borrowings at year-end from group entities: multiple balances aggregating about ₹319 crore.
• Loans (during year) to related parties and related interest; ongoing intercompany arrangements disclosed.

Other Material Approvals

• Corporate Social Responsibility: CSR policy and annual plan disclosed; CSR expenditure ₹69.00 lakh for FY2025-26; total CSR obligation ₹68.10 lakh.
• CSR activity details and disclosures are posted on the company website.

Acquisition through Buy Option

• Wholly owned Novak Hotels Pvt Ltd exercised the Buy Option to acquire Hyatt Regency Mumbai.
• Target asset is Hyatt Regency Mumbai hotel; seller is Asian Hotels (West) Ltd, New Delhi.
• Framework Agreement dated 11 August 2023, as amended, governs the transaction.
• No price or consideration disclosed in the filing.
• Disclosure made under Regulation 30 of Listing Regulations, 2015 for information dissemination.
• The filing does not indicate immediate governance changes or management appointments.

Dematerialisation processing status

• Demat requests processed within 15 days during Apr 1–Jun 30, 2026.
• Approved or rejected demat requests communicated to the depositories.
• Securities dematerialised were listed on the relevant stock exchanges.
• Physical certificates dematerialised were mutilated and cancelled; depository name substituted as registered owner for approved requests.

Board action on listing fines

• Board reviewed NSE/BSE fines for non-compliance with Regulation 33 of the Listing Regulations, 2015.
• Delay in submission of Q4 and FY2026 audited results was deemed unintentional.
• Board had already approved the financial results, enabling management to comply.
• Directs management to pay fines to BSE and NSE within the stipulated timeline.
• No deliberate withholding of disclosures; timing to improve future compliance.
• Filing was in response to SEBI Master Circular amended 2023.
• Board approved the financial results at the meeting on the same date.