Balgopal Commercial Ltd

IT dept visit and AGM status

• Income Tax Department officers visited company premises; proceedings are ongoing.
• Directors and senior management are inside the office; communication is restricted.
• AGM scheduled; conduct being assessed in light of the proceedings; stock exchange updates to follow.

Corrigendum to AGM Notice

• Board approved Corrigendum to AGM Notice for name change to Dreamax Enterprises Limited, subject to approvals.
• Corrigendum relates to Item No. 10 in AGM Notice dated 4 September 2026.
• Change was necessitated by BSE observations on the in-principle name-change application.
• Board authorized circulation of Corrigendum and Revised CA Certificate to Members and BSE.
• CA Certificate to be read as integral part of AGM Notice and Explanatory Statement.
• Corrigendum and CA Certificate to be circulated/uploaded; other AGM contents unchanged.
• Board meeting timing: 3:00 PM – 3:30 PM.

AGM details

• AGM date: 30 September 2026; time 4:00 PM; venue: registered office; mode: physical.

Name-change resolution

• Item 10: change of company name to Dreamax Enterprises Limited; Special Resolution; revised CA certificate attached.

Corrigendum scope

• Corrigendum forms part of AGM notice; no other contents changed; dispatch cutoff 23 September 2026.

Balgopal Commercial Limited: Trading Window closed from 1 October 2026 till expiry of 48 hours after unaudited results for quarter and half-year ended 30 September 2026 become generally available

Financial performance

• Standalone total revenue FY2025-26: negative 89,643.05 thousand.
• Standalone total revenue prior year: 87,010.93 thousand.
• Standalone PBT FY2025-26: negative 104,797.15 thousand.
• Standalone PAT FY2025-26: negative 90,041.26 thousand.
• Standalone Basic EPS: -4.72; Diluted EPS: -3.83.
• Cash flow from operating activities FY2025-26: negative 26,509.78 thousand.
• Consolidated total revenue FY2025-26: negative 85,710.11 thousand.

Operations & portfolio

• Completed project: Grand Pallazo, Mumbai.
• Ongoing project: Paton Tower, Mumbai.
• Upcoming project: Lonavala Villa.
• Portfolio spans residential, commercial and redevelopment in Mumbai and Maharashtra.
• Dreamax group focuses on disciplined planning and governance across developments.

Dividends & capital allocation

• No dividend declared for FY2025-26.
• Open offer led to promoter group reclassification and stake changes.

Governance & board changes

• Amit Bharat Agrawal appointed as Independent Director (4 Sep 2026) for five years.
• Prakash Shyamsundar Modi appointed as Independent Director (4 Sep 2026) for five years.
• Premkumar Pawankumar Goyal appointed as Non-Executive Director (4 Sep 2026).
• Navaneet Lal Damani re-appointed as Director by rotation at AGM.
• Shrena Kalpesh Shah resigned as Independent Director (12 Feb 2026); Vijay Lalataprasad Yadav became Chairperson.

Capital structure & corporate actions

• Special Resolution: Change of name from Balgopal Commercial Limited to Dreamax Enterprises Limited.
• Increase in Authorised Share Capital to Rs 32 crore; MOA amended accordingly.
• Subsequent MOA changes effective upon ROC issuance of new CIN/name.

Related party transactions

• Material RPT approvals for FY2026-27 with Prompt Vanijya LLP and Basudev Dealers LLP up to ₹50 lakh each.
• Intellect Infra Equipments Pvt Ltd: equipment rentals up to ₹25 crore.
• Dreamax Developers Pvt Ltd: loan up to ₹10 crore; construction services up to ₹15 crore.
• Aggregate RPT limit for FY2026-27 up to ₹25 crore.

Strategic developments & outlook

• Sion Kokari Agar SRA redevelopment: LOA received; free-sale entitlement ~5.87 lakh sq ft; GMV ~₹1,200 crore.
• Oshiwara Gokul redevelopment: ~51,086 sq ft free-sale; GMV ~₹200 crore.
• Outlook FY2026-27: cautiously optimistic with real estate & construction focus.

Audit, risk & governance flags

• Statutory auditors: Arvind Baid & Associates; unqualified reports for standalone and consolidated.
• Secretarial auditor: Twinkle Agarwal; unqualified report.
• Standalone FY2025-26 showed cash losses; board notes internal controls adequate.

Meeting Details

• Date and time: Friday, 4 September 2026 at 1:00 PM.
• Location: Registered Office of the Company.

Key Agenda Items

• Approve Board Report, Corporate Governance Report, and MD&A for FY ended March 31, 2026.
• Fix Day, Date, Time of 44th AGM and Notice.
• Fix the closure date for Register of Members and Transfer Books for AGM.
• Appoint Scrutinizer for e-voting and poll at the 44th AGM.
• Authorize MD or Company Secretary to issue AGM notice and conduct the voting.

Other Notes

• No trading window closure periods specified.

Purpose of postal ballot

• Special resolution to alter Main Object Clause of MOA.
• Postal ballot via remote e-voting; voting period 29 July–27 August 2026.
• Cut-off entitlement date: 24 July 2026.

Resolution details

• Special resolution to Alter Main Object Clause.

Outcome

• For: 6,936,772; Against: 1; Valid votes: 6,936,773.
• Promoter group not interested in the resolution.
• Approved by requisite majority.

Material impact

• MOA alteration expands company's object and business scope.

Deviation & variation status

• Purpose: Confirm no deviation or variation in funds raised.
• Mode of fund raising: Preferential Issue (conversion of warrants).
• Funds raised: Rs. 10,52,10,000 on 04 Jun 2026; shares allotted 06 Jun 2026.
• Monitoring agency: Not Applicable.
• Deviation status: No deviation or variation observed.
• Status of fund utilisation: Fully utilised.
• Original object: Invest in similar line; allocation Rs. 10,52,10,000; utilised Rs. 10,52,10,000; deviation: Nil.
• Shareholder approval: Not Applicable.