HRS Aluglaze Ltd

AGM details

• 14th AGM held on 30 September 2026 at 3:00 PM IST via VC/OAVM.
• Remote e-voting from 27 September 2026 (9:00 AM) to 29 September 2026 (5:00 PM).
• Meeting concluded at 3:30 PM.

Resolutions proposed

• Ordinary: Adopt standalone and consolidated financial statements for FY2025-26.
• Ordinary: Re-appoint director by rotation.
• Ordinary: Appoint Statutory Auditors and fix remuneration.
• Special: Approve material related party transactions.
• Special: Approve transactions under Section 185 of the Companies Act.
• Special: Sell/lease/dispose of whole or substantial part of the undertaking.
• Special: Borrowing limits under Section 180(1)(c).
• Special: Revise remuneration of the Chairman and Managing Director.

Voting status

• Voting results to be announced after scrutinizer report.
• Scrutinizer appointed for e-voting and AGM processes.

HRS Aluglaze Limited – Trading Window Closure from 1 October 2026 until 48 hours after the unaudited half-year results for the period ended 30 September 2026

Meeting Details

• Date: Friday, 25 September 2026; 11:00 AM–12:00 PM
• Mode: Virtual investor/analyst interaction
• Event: Bharat Connect Conference – Rising Stars by Arihant Capital

Participants

• Key company participant: Chairman and Managing Director
• Event/organiser: Bharat Connect Conference (Rising Stars by Arihant Capital)

Purpose

• General investor/analyst interaction; discussions based on publicly available documents

AGM Details

• AGM date/time: 30 September 2026 at 3:00 PM via VC/OAVM.
• Deemed venue: registered office of the company.
• Record date for voting rights: 23 September 2026.
• Remote e-voting window: 27–29 September 2026.

Ordinary Business

• Adopt standalone and consolidated financial statements for FY ended 31 March 2026.
• Re-appoint Hrishikesh Rupesh Shah retiring by rotation.
• Appoint Statutory Auditors and fix remuneration.

Special Business

• Approve material related party transactions on arm's length basis.
• Approve RPTs: loans/guarantees up to Rs 50 crore.
• Approve sale or disposal of undertakings/assets.
• Approve borrowing limits up to Rs 300 crore beyond paid-up capital and free reserves.
• Revise MD remuneration to Rs 5.5 lakh per month from 1 April 2026.

Auditors

• Appoint Statutory Auditors (Chirag R Shah & Associates) for five years; remuneration to be decided.

Directors

• Director Hrishikesh Rupesh Shah listed for re-appointment.

Related Party Transactions

• Material RPTs with Pinky Rupesh Shah, Geotrix Pvt Ltd, Umbrella Buildcon, and Hrishikesh Ventures LLP.

Financial snapshot

• Revenue from operations: ₹6,753.12 Lakhs; total income ₹6,784.66 Lakhs.
• PAT (Standalone): ₹1,021.62 Lakhs; EPS ₹6.58 (basic/diluted).
• YoY revenue growth ~60%; PAT growth ~98%.

IPO & capital structure

• IPO completed December 2025; listed on BSE SME.
• Issued equity of 1.928 crore shares; paid-up capital ₹19.28 Crore.
• Unutilized IPO proceeds: ₹3.11 Crore as of 30-Jun-2026.

Order book & capacity expansion

• Confirmed order book >₹142 Crore; 12–24 month visibility.
• Manufacturing capacity ~3.5 million sq ft.
• Expansion: Glass glazing facility ₹16 Crore; Rajoda line ₹4.4 Crore.
• IPO proceeds partly funded capex and solar plant.

Geography & key projects

• Geographic footprint: Gujarat, Maharashtra, Tamil Nadu, West Bengal, Telangana.
• Micron Semiconductor Facility, Sanand, Gujarat: high-spec façade project.
• New subsidiary Geotrix Private Limited formed Feb 2026; 67% owned.

Subsidiaries & acquisitions

• Geotrix Private Limited: 67% subsidiary; Feb 2026 formation.
• Acquired assets from Geotrix Building Envelope Pvt Ltd on slump sale basis.

Governance & auditors

• Board: 6 members; 3 independent; MD Rupesh Shah and exec Pinky Shah.
• Statutory auditors changed; Chirag R. Shah & Associates appointed for 5 years.
• Secretarial audit: Parikh Dave & Associates; no qualifications.

CSR, risk & ESG

• CSR spend ₹6.75 Lakhs; fully utilized; policy on hrsaluglaze.com.
• CSR committee chaired by Heta Shah; one meeting conducted.

Audit flags & notes

• Auditor qualifications include payments due to Tata Capital; some charges pending RoC registration.
• No going-concern risk flagged; internal controls reviewed; IPO monitoring reports available.

AGM details

• Date/time/mode: Sep 30, 2026, 3:00 PM, via VC/OAVM.
• Record date for voting: Sep 23, 2026.
• Deemed venue: Registered office.

Key resolutions

• Ordinary: Adopt standalone and consolidated financial statements for FY2026.
• Ordinary: Re-appoint Hrishikesh Rupesh Shah (retire by rotation).
• Ordinary: Appoint M/s Chirag R. Shah & Associates as Statutory Auditors for five years.
• Ordinary: Approve Related Party Transactions with Pinky Rupesh Shah, Geotrix Pvt Ltd, Umbrella Buildcon, and Hrishikesh Ventures LLP.
• Special: Approve loans/guarantees/security to related entities up to Rs 50 crore.
• Special: Sell/dispose of substantial undertaking or assets and create charges as needed.
• Special: Borrowing limits up to Rs 300 crore beyond paid-up capital and free reserves.
• Special: Revise remuneration of MD Rupesh Pravinbhai Shah to Rs 5.50 lakh per month.

Auditor appointments

• Shah & Patel resigned; Chirag R Shah & Associates appointed as Statutory Auditors till 2031.

Material related party transactions

• Related parties include Pinky Rupesh Shah; Geotrix Private Limited; Umbrella Buildcon; Hrishikesh Ventures LLP.
• Transactions include lease expenses, director remuneration, sale of assets, and goods/services.
• Aggregate values span 2026-2029 per party.

Director changes

• Re-appointment of Hrishikesh Rupesh Shah as director (retire by rotation).

Other material approvals

• Remuneration revision for MD to Rs 5.50 lakh/month from Apr 1, 2026.
• Borrowing up to Rs 300 crore beyond paid-up capital and free reserves.
• Authority to sell/lease assets and create charges up to limits.

Internal Auditor Appointment

• Appointed M/s. Mrunal M Shah & Co. as Internal Auditor for FY 2026-27.
• Effective 03/09/2026; tenure for the financial year 2026-27.
• Reason: to comply with the Companies Act, 2013.
• Profile: CA firm with 13+ years in internal audits.

Secretarial Auditor Appointment

• Appointed M/s Parikh Dave & Associates as Secretarial Auditor for FY 2026-27.
• Effective 03/09/2026; tenure for FY 2026-27.
• Reason: to comply with Companies Act, 2013 and SEBI Regulations.
• Profile: senior partner Mr. Umesh Parikh; 30+ years listed company experience.

Scrutinizer Appointment

• Appointed M/s Parikh Dave & Associates as Scrutinizer for remote e-voting.
• Consented to conduct remote e-voting at the AGM.
• Term: until the AGM; aligned with FY 2026-27.

Remote E-Voting Agency Appointment

• NSDL appointed as Remote E-Voting Agency for AGM.

Statutory Auditor Change

• Resignation of Shah & Patel Chartered Accountants; cessation effective 03/09/2026.
• Reason: preoccupation in other assignments; confirms no other material reasons.
• Shah & Patel to issue Limited Review for half-year ending 30 Sep 2026.
• New Statutory Auditor: M/s Chirag R. Shah & Associates appointed to fill casual vacancy.
• Effective 03/09/2026; until conclusion of the ensuing AGM; 5-year term proposed.
• Profile: Firm established 1999; led by Chirag R. Shah; 25 years’ audit experience.
• Term: 5-year proposal to be approved by shareholders at the AGM.

Fundraising mode

• Proceeds raised through a fresh equity issue.
• Total issue size disclosed to investors.

Deviation status

• No material deviation from disclosed objects.
• Means of finance and approvals unchanged.

Object deployment progress

• Utilisation aligned with disclosures; some objects ongoing or completed.
• No major deviation observed compared with prior monitoring reports.

Unutilised proceeds and investments

• Unutilised funds are held in cash/bank accounts.
• Some proceeds deployed into bank deposits with modest returns.

Governance and monitoring

• Monitoring agency engaged to oversee fund utilisation.
• Audit committee and board reviewed the monitoring report.