Pajson Agro India Ltd

Pajson Agro India Limited – Trading Window closes from Oct 1, 2026 until the expiry of 48 hours after the declaration of the financial results of the Company for the half-year ended September 30, 2026.

Meeting Details

• Date: 25 September 2026
• Time: 02:00 PM IST
• Mode: Virtual
• Event: Arihant Bharat Connect Conference: Rising Stars 2026

Participants

• Company management to participate in the conference.

Purpose

• Discussions will be based on publicly available information; no UPSI intended.

Additional Notes

• Note: Changes may occur due to host or company exigencies.

Meeting Details

• Date 19 August 2026; time 4:00 PM to 4:30 PM IST; virtual Zoom meeting.

Participants

• Company officials (management) represented the meeting; seven investor groups attended.

Purpose

• Purpose: investor interaction; discussions limited to publicly available information.

Agm details

• AGM held on 17 Aug 2026 at 3:30 PM via VC/OAVM.
• Record date 10 Aug 2026; 425 shareholders on record.
• Attendance: promoters and public attended via electronic mode.

Key resolutions

• Resolution 1: Adoption of audited standalone financial statements for year ended 31 Mar 2026.
• Resolution 2: Re-appointment of statutory auditor and remuneration.
• Resolution 3: Re-appointment by rotation of Mr Pulkit Jain as director.

Voting results

• Resolution 1: Passed; 100% of votes polled in favour.
• Resolution 2: Passed; 100% of votes polled in favour.
• Resolution 3: Passed; 100% of votes polled in favour.

Auditors and directors

• Statutory auditor re-appointed: M/s S.S. Kothari Mehta & Co. LLP; remuneration to be fixed.
• Director re-appointed: Mr Pulkit Jain; retires by rotation.

Dividend

• No dividend proposal or declaration reported.

Material related party transactions

• No material related party transactions disclosed.

Other material approvals

• No other material approvals indicated.

AGM Details

• Date: August 17, 2026; Time: 3:30 PM IST; Mode: VC/OAVM.
• Meeting duration: 3:30 PM to 4:17 PM IST.

Key Resolutions

• Adopt audited standalone financial statements for year ended 31 March 2026.
• Re-appoint statutory auditor M/s S.S. Kothari Mehta & Co. LLP; remuneration to be fixed.
• Re-appointment of Pulkit Jain by rotation.

Voting Status

• Adoption of financial statements — results pending.
• Re-appointment of statutory auditors — results pending.
• Re-appointment of Pulkit Jain by rotation — results pending.

Director Changes

• Pulkit Jain re-appointed by rotation as director.

Meeting Details

• Date and time: Wed, 19 August 2026, 04:00 PM IST.
• Meeting type and mode: Group investors call, virtual.
• Event/organiser: Group Investors Call by Pajson Agro India Limited.

Participants

• Key company participant: Company Secretary & Compliance Officer.

Purpose

• Purpose: Discussion based on publicly available information; UPSI not intended.

Issue overview

• IPO of Equity Shares; total issue size disclosed.
• GCP allocation revised to ₹10.43 crore, exceeding ₹10 crore cap without approval.
• Objects: capex, GCP, and issue expenses.

Utilisation of proceeds

• Means of finance changed from internal accruals to bank term loan; approval via EGM.
• ₹1.96 crore moved from issue expenses to GCP; GCP cap exceeded.
• Capex: 9.40 utilised; 47.60 unutilised; milestone delays due to labour shortage.
• GCP balance: 10.34 available/unutilised at end of quarter; no Q1 utilisation.
• Issue expenses: 7.02 utilised; no unutilised.
• Unutilised proceeds: ₹47.69 crore held in fixed deposits and a monitoring account.
• Capex delay due to labour shortage; milestones delayed; vendors to align.

Governance and compliance

• Approvals: Preconstruction approvals in place; Irrigation Department permission obtained; VMDA pending; Fire NOC pending; Inspector of Factories pending.
• No major deviation observed from earlier MA reports.
• Means of finance change approved by shareholders through an extraordinary general meeting.
• Delays in capex; no material adverse events reported.

General Corporate Purpose

• GCP revised cost to ₹10.43 crore; ₹1.96 crore shifted from issue expenses.
• Board-approved means of finance change; approval obtained via shareholders.
• GCP utilization in Q1: none; funds idle.
• GCP allocation details noted in MA report.

Financials

• Standalone total income ₹25,691.77 lakh; revenue from operations ₹25,572.21 lakh in FY26.
• Profit after tax ₹2,478.38 lakh; Basic EPS ₹12.82.
• Revenue rose 37% YoY to ₹25,691.77 lakh.
• Consolidated FY26 EBITDA ₹37.82 crore and PAT ₹24.78 crore.
• IPO proceeds ₹74.45 crore raised in Dec 2025 to fund growth.
• Royal Mewa revenue ₹4.33 crore; 1.68% of total revenue.
• Institutional revenue share 33.96% in FY26; recurring customers 78% of revenue.
• No dividend declared for FY25-26.

Capex & Capacity

• Vizianagaram facility adds 35,000 MT; total capex capacity 53,000 MT.
• Land acquired; purchase orders ₹39.53 crore; ₹10.47 crore advanced.
• Andhra Pradesh facility utilization ~86% in FY26.
• Integrated network: 18,000 MTPA operational; 35,000 MTPA under development to 53,000.
• Greenfield automation; target steady EBITDA margin 14-16%.

IPO & Capital Structure

• Listed on BSE SME on 18-Dec-2025; IPO 63,09,600 shares at ₹118.
• Gross IPO ₹7,445.33 lakh; net ₹6,547.26 lakh after expenses.
• Bonus issue of 1,39,99,996 shares (4:1) in May 2025.
• Authorized capital ₹2,500 lakh; paid-up capital ₹2,380.96 lakh.
• Promoter holdings: Pulkit Jain 44.10%, Aayush Jain 18.16%, Anjali Jain 0.21%.
• IPO proceeds allocated ₹57 crore to Vizianagaram; ₹10.43 crore for growth/working capital.
• Debt: short-term ₹3,406.10 lakh; long-term ₹18.15 lakh; liquidity aided by deposits.
• Current ratio 2.51; debt/equity 0.25.

Brand & Market

• Royal Mewa revenue grew 6.5x to ₹4.33 crore in FY26.
• Brand aims ~15% of revenue in 3-5 years; India-led consumer focus.
• Royal Mewa products span kernels and branded dry fruits; sold on Amazon, JioMart, Snapdeal.
• Royal Mewa contributed 1.68% of total revenue; by-products 4.69%.

Governance & Management

• Aayush Jain: MD & Chairman; Anjali Jain: Whole-Time Director; 2025 restructuring.
• Jayesh Bhagia resigned as Executive Director on 5-Sep-2025; Amit Kumar resigned 17-May-2025.
• Roopal Saxena appointed Company Secretary; Ajit Kumar became CFO; Nitan Garg appointed CFO on 1-Apr-2026.
• S.S. Kothari Mehta & Co LLP appointed statutory auditors for five years from the 5th AGM.
• Internal Audit: AVKG & Associates; Secretarial Audit: SJ Kumar & Associates.
• 5th AGM scheduled for 17-Aug-2026; NSDL VC/OAVM voting facility.

Audits & Controls

• Independent Auditor's Report is unqualified; no material misstatements reported.
• Internal controls deemed adequate; Audit Committee oversight demonstrated.
• Contingent liabilities: bank guarantees ₹1.00 crore; GST audit demand ₹21.23 lakh.
• Related party disclosures and AOC-2 included; material RPTs with Pajson Global DMCC and Pajson Intl FZCO.
• MCA audit trail requirement: enabled at application level; hosted by third party.

CSR & ESG

• CSR spend ₹16.14 million; Seva Bharti, AKARO, Clean Ganga, PMNRF contributions.
• 90% women in permanent processing workforce; ISO 14001, ISO 45001, FSSAI licenses.
• Near-zero waste: shells used as biomass, CNSL; husk for composting.
• CSR activities target healthcare, education, environment; detailed Annexure disclosures provided.

Risks & Outlook

• Risks include raw cashew price volatility and FX fluctuations; mitigated by agile procurement.
• Vizianagaram commissioning expected to lift capacity and efficiency.
• Diversified channels reduce concentration risk; expansion into international markets planned.