Kanel Industries Ltd

AGM Details

• AGM conducted via VC/OAVM in late September 2026 at 11:00 AM.

Key Resolutions

• Adopt Audited financial statements and reports for the year.
• Appoint Independent Director as part of ordinary business.

Voting Results

• Resolution 1 passed with strong in-favor support and high turnout.
• Resolution 2 passed with promoter group support; no votes against.

Dividend

• No dividend proposed or declared.

Director Changes

• Independent director appointed.

Auditor Matters

• Auditor's report discussed with the audited accounts.

Related Party Transactions

• No material related party transactions disclosed.

Other Approvals

• No other material approvals announced.

AGM Details

• AGM held on 30 September 2026 at 11:00 AM via VC/OAVM.
• Notice of AGM sent electronically to members on 31 August 2026.
• Record date for voting eligibility: 23 September 2026.
• Remote e-voting window: 27 September 2026 to 29 September 2026, 09:00–17:00.
• Votes unblocked on 30 September 2026 around 11:30 AM (IST).

Key Resolutions

• Ordinary resolution to receive, consider, approve, and adopt audited financial statements and reports.
• Ordinary resolution to regularize appointment of Ms. Pooja Khakhi as Independent Non-Executive Director.

Voting Results

• Resolution 1 passed; 100% favourable votes; no dissent recorded.
• Resolution 2 passed; 100% favourable votes; no dissent recorded.

Director Changes

• Appointment of Ms. Pooja Khakhi as Independent Non-Executive Director.

AGM Details

• Held on 30 September 2026 at 11:00 a.m. via VC/OAVM.

Key Resolutions

• Adoption of audited financial statements approved by ordinary resolution.
• Regularize appointment of Pooja Khakhi as Independent Non-Executive Director approved.

Director Changes

• Ms. Pooja Khakhi appointed as Independent Non-Executive Director.

KANEL INDUSTRIES LTD — Closure of Trading Window from 01 October 2026 till 48 hours after the declaration of unaudited financial results for the quarter ended 30 September 2026

Book closure and AGM voting details

• Share transfer books closed 24–30 September 2026 (inclusive) for AGM.
• Record date for voting is 23 September 2026, with remote e-voting.
• AGM scheduled on 30 September 2026 at 11:00 AM.

Financial performance

• Revenue from operations: Nil for FY2025-26.
• Total income: ₹3.06 Lakh; prior year ₹0.51 Lakh.
• Profit before tax: ₹−38.12 Lakh; net profit after tax ₹−47.93 Lakh.
• Depreciation: ₹10.54 Lakh; taxes on profits not applicable.
• Earnings per share: ₹−0.30 (basic and diluted).
• Dividend not declared due to losses.
• Net worth: ₹1,542.83 Lakh; share capital ₹1,575.00 Lakh.
• Debt: ₹16.25 Lakh; net debt ₹14.34 Lakh after cash ₹1.91 Lakh.

Capital structure & liquidity

• Paid-up equity share capital: ₹1,575.00 Lakh.
• Total equity: ₹1,542.83 Lakh; decline due to losses.
• Non-current borrowings: ₹16.25 Lakh; current borrowings: ₹0.00.
• Net debt to equity: 0.93x; cash balance ₹1.91 Lakh.
• Resolution Plan implemented; going concern basis adopted.

Business developments & strategy

• Business: trading of edible oils; no material change in FY2026.
• NCLT-approved Resolution Plan completed; debt restructuring, equity conversion, PPE revaluation.
• No revenue from operations in the year; outlook positive due to oil demand.
• Related party: Ardent Ventures LLP; loan ₹17.29 Lakh outstanding.

Governance & management

• Board as of 31 Mar 2026: four directors, including Keyoor Bakshi (Executive CEO).
• Independent Directors: Bhavin Mehta and Jasmin Doshi; new Independent Director Ms. Pooja Khakhi appointed.
• Ms. Pooja Khakhi appointed as Independent Director for up to five years from 30 Jul 2026.
• Statutory Auditor: M/s. N.S. Nanavati & Co.; Secretarial Auditor: M/s. Malay Desai & Associates.
• Four board meetings held in 2025-26.

Audit, risk & internal controls

• Auditor's report: no fraud; going concern supported by Resolution Plan.
• Internal controls: adequate and operating; no material weaknesses noted.
• Secretarial Audit: Annexure-B; no major qualifications reported.
• No defaults in loan repayments observed.

Related party disclosures & compliance

• Related party: Ardent Ventures LLP; loans and balances disclosed in notes.
• Remuneration to KMP: ₹2.04 Lakh; loans to related parties: ₹17.29 Lakh.
• Notes indicate non-cash equity conversion of ₹1496.25 Lakh in 2024-25 under NCLT plan.
• CSR not applicable; Vigil mechanism in place; no material CSR activity in year.

Outlook & risks

• Outlook: positive due to rising edible oil demand and regulatory shifts.
• Key risks: ongoing losses; liquidity constraints; dependence on resolution plan.
• Company continues to operate under going concern assumption with plan implementation.

Financials

• Unaudited standalone Q1 2026-27 results approved; quarter ended 30 Jun 2026.
• Other income 0.06 lakh; total revenue 0.06 lakh.
• Employee benefits expense 0.45 lakh; depreciation 2.35 lakh; other expenses 5.82 lakh; total expenses 8.62 lakh.
• Profit before tax: -8.56 lakh; profit after tax: -8.56 lakh; EPS -0.05.
• Extraordinary items: 12.87 lakh booked in year-to-date FY2025-26.
• Audit committee reviewed; results approved by Board on 12 Aug 2026.

Leadership & governance

• Shagun Rathi appointed Company Secretary, Compliance Officer and CFO from 12 Aug 2026.
• Keyoor Madhusudan Bakshi redesignated CFO to CEO from 12 Aug 2026.
• Notice and Annual Report for FY2025-26 approved.

Meeting Details

• Date: 12 August 2026; Time: not disclosed; Location: registered office of the company.

Key Agenda Items

• Consider and approve standalone unaudited financial results for quarter ended 30 June 2026.

Other Notes

• Trading window closed from 1 July 2026 until 48 hours after the results declaration.

Meeting Details

• Date: 30 July 2026; time and venue not disclosed.

Key Agenda Items

• Propose raising funds by rights issue of equity shares, subject to regulatory approvals.

Dematerialisation / Rematerialisation Status

• Dematerialisation requests processed; securities listed on the stock exchanges.
• Physical certificates for dematerialisation were mutilated and cancelled; depository name substituted in records within timelines.