Comrade Appliances Ltd

Equity issue details

• Proposed preferential issue of up to 24,00,000 equity shares.
• Face value Rs 10; issue price Rs 34 per share.
• Aggregate issue size up to Rs 8.16 crore.
• Allottees: Omnia Appliances (20,00,000) and Anadi Investments (4,00,000).
• Omnia to be promoter/promoter group category after open offer.
• Subject to member approval and regulatory clearances.

Promoter sale and open offer

• Promoter Mehboob Alam to sell 18,90,000 equity shares.
• Sale represents 24.30% of current paid-up capital; price Rs 34.
• Total consideration Rs 6.42 crore.
• Acquirers: Omnia Appliances and others to acquire 18,90,000 shares.
• Post-open offer, acquirers to be promoter of the company.

Agreements and governance

• Shareholders Subscription Agreement records terms for 20,00,000 shares.
• Preferential allotment proceeds via Omnia; separate agreement for Anadi Investments.
• Preferential Issue Committee formed to finalize documents.
• Draft postal ballot notice prepared for member approval.

Meeting Details

• Date: October 01, 2026; time and venue not disclosed.

Key Agenda Items

• To consider and approve issuance of equity instruments via preferential/right issue or other mode.
• Determination of price for the issued instruments.

Other Notes

• Trading window closed for designated persons and their immediate relatives from intimation until 48 hours after board outcome.

AGM Details

• AGM held on Sept 23, 2026 via video conferencing / OAVM.

Resolutions & Outcomes

• Item Nos. 1 and 2 passed with requisite majority.
• Detailed voting results and scrutinizer’s report attached.

Comrade Appliances Ltd: Trading Window shall remain closed w.e.f October 01, 2026 till 48 hours after declaration of Unaudited Financial Results of the Company for the half year ended on September 30, 2026.

AGM Details

• AGM held on 23 September 2026 via Video Conferencing / Other Audio Visual Means.

Resolutions and outcomes

• Item 1: Passed with requisite majority.
• Item 2: Passed with requisite majority.

Voting documentation

• Scrutinizer's report dated 24 September 2026 attached.

AGM details

• AGM held on 23 September 2026 via VC/OAVM from 3:00 PM to 3:20 PM.
• Meeting commenced at 3:00 PM and concluded at 3:20 PM.
• E-voting remained open for 15 minutes post-AGM.

Resolutions

• Ordinary resolution to adopt audited standalone financial statements and related reports.
• Ordinary resolution to reappoint director retiring by rotation.
• Auditors' report taken as read with no qualifications.
• Results to be declared within two working days after the AGM.

Financial performance

• Revenue from operations fell to ₹3,010.80 lakhs from ₹5,731.42, a 47.5% drop.
• Total revenue (I+II) stood at ₹3,018.37 lakhs versus ₹5,742.39 previously.
• Net loss after tax was ₹945.79 lakhs, vs ₹53.06 profit last year.
• Profit before tax recorded a loss of ₹914.67 lakhs.
• EPS (basic/diluted) was ₹(12.16) per share.
• Cash and bank balances at year-end totaled ₹121.75 lakhs.

Capital structure & liquidity

• Authorized share capital ₹11 crore; issued and paid-up ₹7.78 crore.
• Equity shares issued: 77,78,795 shares of ₹10 each.
• 9,00,000 convertible warrants were forfeited during the year.
• Total borrowings ₹3,813.14 lakhs; current ₹2,189.58; non-current ₹1,623.56.

Dividend & share capital

• Dividend on equity shares not recommended for the year.
• Rights attached to shares: one vote per share; dividends require Board approval.
• Share outstanding at year-end: 77,78,795; no new issue during year.

Board governance

• Board meetings held: seven during FY2025-26.
• KMP as at 31 March 2026: Khursheed Alam (MD/CFO); Anshita Malani (CS).
• Malvika Jagani resigned as Company Secretary on 04 Oct 2025; Anshita Malani appointed.
• Secretarial audit: no qualifications; MR-3 filed.

Related party transactions

• Related parties include WJT India Pvt Ltd: sale ₹41.20L, rent ₹3.05L, purchase ₹0.85L.
• Remuneration paid to KMP from related parties: Khursheed ₹58.19L; Mehboob ₹24.40L; Shakir ₹11.66L.
• Loans taken: Mehboob ₹80.00L; Troupe ₹500.00L; WJT ₹100.00L; repayments ₹55.00L; Shakir ₹10.00L.

Audit & compliance

• Statutory auditors: Suvarna & Katdare; appointment through FY2029-30.
• Secretarial auditor: Mayank Arora & Co; MR-3 issued with no qualifications.
• Directors’ responsibility statement confirms going concern and adequate internal controls.

Industry and outlook

• Infrared Cooktop and Air Fryer planned to diversify product portfolio.
• Air cooler market in 2025 ₹12,606 crore; expected ₹13,500 crore in 2026.
• Washing machine market ₹29,960 crore in 2026.
• Long-term outlook remains positive; focus on efficiency, innovation, and broader penetration.

Other disclosures

• All shares dematerialised; ISIN INE0NXA01015.
• Annual report and AGM notice published on company website; e-voting via Bigshare.
• CSR not applicable on SME platform; no CSR committee.

Book closure and AGM details

• AGM to be convened on August 31, 2026 via VC/OAVM.
• Book closure for registers and transfer books: Sep 17, 2026 to Sep 23, 2026 (inclusive).
• Cut-off date for AGM eligibility: September 16, 2025.
• Security type: shares.

AGM scheduling & book closure

• AGM 10th to be held on Sep 23, 2026 via VC/OAVM.
• Notice of AGM, Directors' Report, and MDAR approved for FY 2025-26.
• Cut-off date fixed as September 16, 2026; book closure Sep 17–23, 2026.