Saffron Industries Ltd

Saffron Industries Ltd: Trading window closed from 01 October, 2026 till the expiry of 48 hours after declaration of the financial results for the quarter and half year ending 30 September 2026.

AGM Details

• Date and time: 24 September 2026, 11:00 AM, physical AGM.
• Venue: Nava Bharat Bhavan, Wardha Road, Nagpur.
• Record date: 16 September 2026.

Key Resolutions

• Resolution 1: adopt audited financial statements for year ended 31 March 2026.
• Resolution 2: re-appoint Manoj Sinha, Whole-Time Director, retires by rotation.

Voting Results

• Resolution 1 passed; in-favor votes 74.99% remote and 25% at venue.
• Resolution 2 passed; identical voting split.

Director Changes

• Manoj Sinha re-appointed as Whole-Time Director; retires by rotation.

AGM Details

• AGM held on 24 September 2026 at 11:00 AM in Nagpur (physical).
• Remote e-voting available 21–23 September 2026.
• Quorum present; meeting concluded at 11:30 AM.
• Results of voting on items 1-2 to be submitted separately.

Ordinary Business

• Adopt audited financial statements for year ended 31 March 2025.
• Auditor's report had no qualifications and was taken as read.
• Reappoint Manoj Sinha as Whole Time Director, retiring by rotation.

AGM notice and agenda

• 33rd Annual General Meeting to be held Sep 24, 2026 at 11:00 IST, Nagpur.
• Integrated Annual Report 2025-26 including Notice and financial statements will be emailed to members.
• Remote e-voting Sep 21–23, 2026; poll voting at AGM.
• Item 1: Adoption of audited financial statements for year ended Mar 31, 2026.
• Item 2: Re-appointment of Manoj Sinha; remuneration last drawn 7,20,000; on board since 2016.
• Register of Members will be closed Sep 17–24, 2026.

Overview

• Discontinued paper manufacturing; real estate development now core business.
• RERA registration and change of land-use permissions obtained.
• Factory land converted to stock-in-trade for real estate projects.

Financial highlights

• Revenue from operations: 686392.04; Total income: 689715.40.
• Profit after tax: 157402.51; Earnings per share: 2.19.

Capital and dividends

• No dividend declared or recommended for FY2025-26.
• Authorised share capital: ₹7.8 crore; issued/subscribed capital remained unchanged.
• No debt securities issued; capital structure unchanged.

Operations and segments

• Real estate development continued; paper business fully discontinued.
• Segment reporting aligned to Real Estate Development; land development costs capitalised as work-in-progress.
• Revenue sharing with Navabharat Infraventures for plots: 540,290.47.

Governance and leadership

• Board: 1 Executive Director, 1 Non-Executive Director, 2 Independent Directors.
• CS Arti Hemnani resigned 01-May-2026; Sanyam Sunil Jain appointed 27-Jun-2026.
• AGM notice issued for 24-Sep-2026; remote e-voting 21-23 Sep 2026.

Audits & internal controls

• Statutory auditor: Jagdish Khatri & Associates; Secretarial auditor: Avinash Gandhewar.
• Internal controls are adequate with no material weaknesses reported.
• Secretarial audit noted promoters’ partial dematerialisation and MCA capital-reflection error; corrective actions taken.

Related party disclosures

• Related party: Navabharat Infraventures Pvt Ltd; revenue sharing for plots: 540,290.47.
• Remuneration to Whole-time Director Manoj Sinha: 7,200.00.
• Outstanding balances: Sundry debtors 161,210; Sundry creditors 387,630.74; unsecured loans from related parties 195,552.43.

Risks and outlook

• Positive real estate sector outlook drivers: urbanization, infrastructure, and policy support.
• Risks include raw material costs, environmental liabilities, tax, and labor relations.
• Risk management framework in place; independent Directors contribute to oversight.

AGM notice & business

• Notice for the 33rd AGM to be held on 24 September 2026 at 11:00 AM in Nagpur.
• To adopt audited financial statements for FY ended 31 March 2026 and related reports.

Director appointment

• Director Manoj Rameshwar Sinha (DIN: 07564967) to be reappointed; retires by rotation.

Directors' Report

• Board approves Directors' Report for FY ended 31 March 2026.

Share/Book closure

• Register of Members and share transfer books closed 17-24 September 2026.

Meeting Details

• Board meeting scheduled for 29 July 2026; time and venue not disclosed.

Key Agenda Items

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

Other Notes

• Trading window closed from 01 July 2026 until 48 hours after unaudited results are communicated.

Dematerialisation status and listing

• Securities received for dematerialisation in quarter ended 30 June 2026 were confirmed to depositories by Adroit.
• Dematerialised securities have been listed on the stock exchanges where the earlier issued securities are listed.
• Dematerialisation certificates were mutilated and cancelled after verification, with depository registered owner substitution within 15 days.

Board approval and audit status

• Board approved Audited Standalone Results for quarter/year ended 31 March 2026.
• Auditors Jagdish Khatri & Associates issued an unmodified opinion.
• Total Income around 689.7 Lakhs; PAT about 157.4 Lakhs; EPS 2.19.
• Board meeting held on 30 May 2026 to approve results.

PDF/XBRL submission discrepancy and corrective action

• Exchange flagged discrepancy: standalone results submitted in XBRL but PDF incomplete.
• Omission was inadvertent; no change in XBRL financial figures.
• Re-submission of complete Standalone results in PDF on BSE Listing Centre.
• Action aims to ensure compliance and transparency.

Internal auditor appointment

• Gopal M. Choudhary re-appointed Internal Auditor for FY 2026-27.
• Board approved the appointment at the 30 May 2026 meeting.