Sarda Proteins Ltd

AGM Details

• Held on 30 September 2026 via VC/OAVM.
• Meeting commenced 11:00 AM and concluded 11:15 AM.
• Remote e-voting 26-29 Sep 2026; voting also at AGM.
• Shareholders joined via INSTAMEET.

Key Resolutions

• Adopt standalone financial statements for year ended 31 March 2026 (ordinary).
• Re-appoint director by rotation: Shivam Gunvantray Zaladi.
• Appoint M/S A H Mandaliya & Associates as statutory auditors.
• Borrowing powers up to ₹1,000 crore (Section 180(1)(c)).
• Loans, guarantees, securities and investments up to ₹1,000 crore (Section 186).

Voting Status

• Outcome of all five resolutions not disclosed in summary.
• Scrutinizer's report and consolidated results to be disseminated.
• Results to be placed on the company's website.

Director Changes

• Director re-appointment by rotation: Shivam Gunvantray Zaladi.

Auditor Appointments

• Statutory auditors appointed: M/S A H Mandaliya & Associates.

Fresita Proteins Ltd trading window closed from 01 October 2026 until 48 hours after the unaudited financial results for quarter and half year ended 30 September 2026.

Clarification on price movement

• As of the date, no material events or undisclosed information; price movement attributed to market factors.

Clarification on price movement and disclosures

• Clarifies response to BSE on price movement; asserts adherence to Corporate Governance Code.
• States disclosures under Regulation 30 SEBI LODR are intimated immediately as reportable events occur.
• Attributes significant price movement to market forces or combination of factors.
• No specific event disclosed; no changes to operations or governance cited.

Name change details

• Old name Sarda Proteins Limited; new name Fresita Proteins Limited.
• Effective date of name change: 21 August 2026.
• Regulatory approvals: MCA Certificate of Incorporation issued; BSE final approval received.
• New CIN: L15142RJ1991PLC006353.
• Scrip ID updated to FRESITA; abbreviated name FRESITA.
• Depositories NSDL/CDSL amendments in progress.
• Certificate notes no change to rights or liabilities; old name to be displayed with new for two years.
• Subject to depository record alignment and regulatory confirmations.

Financial performance

• Standalone revenue from operations: ₹1,615.84 lakh (FY26) vs ₹2,419.10 lakh prior year.
• Total revenue ₹1,650.82 lakh; YoY decline 31.8%.
• PAT ₹45.44 lakh; prior year ₹0.51 lakh.
• Basic EPS ₹0.51; Diluted EPS ₹0.85; NAV ₹96.04 per share.
• Warrant conversion added ₹725 lakh equity and ₹7,612.50 lakh premium.
• Advances to suppliers ₹7,258.23 lakh; 83.8% of total assets.

Balance sheet highlights

• Total assets ₹8,665.52 lakh; 32.7x growth year-on-year.
• Cash and cash equivalents ₹751.92 lakh; liquidity significantly improved.
• Inventories nil; PPE net ₹0.60 lakh; asset-light balance sheet.
• Trade receivables ₹414.16 lakh; concentration in solar/renewable counterparties.

Cash flows

• Operating cash flow negative ₹7,635.87 lakh due to working-capital build-up.
• Financing inflows ₹8,348.52 lakh; net cash increase ₹748.54 lakh.
• Closing cash balance ₹751.92 lakh.

Capital structure & fundraising

• Promoter holding post-conversion at 80.66%.
• Rights issue approved up to ₹90 crore; ₹70 crore reserved for acquisitions.
• Acquisitions targeted: Fresita Food Private Limited and Urja Protein India Private Limited.

Strategy & development

• FY26 described as transition year; pivot from solar trading to agri-food platform.
• Objects Clause expanded July 2026 to agriculture, horticulture and food processing.
• New Metoda corporate office opened July 2026.
• Q1 FY27 momentum: revenue ₹1,847.4 lakh; PAT ₹165.97 lakh.

Governance & board

• Board reconstituted in 2026; five directors; one woman independent appointed July 15, 2026.
• MD Savaliya; Chair Satasiya; independent Thakkar and Jain.
• Statutory auditors: A H Mandaliya; Internal: A H Modasiya; Secretarial: H Togadiya.

Risks and outlook

• Concentration risk: solar-sector advances ~95.6%; top party 40.6% of advances.
• Execution risk: dual acquisitions with different operating models.
• Geographic concentration in Gujarat; regional disruption risk.
• No insurance coverage; uninsured loss risk.
• Promoter stake high vs public; potential regulatory/overhang risk.
• Related-party transaction growth expected; oversight essential.
• No firm debt financing beyond Rights Issue; undersubscription risk.

AGM Details

• AGM via VC/OAVM at 11:00 AM IST.
• Voting eligibility cut-off date specified.
• Register of Members/Share Transfer Books closed for a month-end period.

Ordinary Resolutions

• Adopt audited standalone financial statements and Board/Auditors reports.
• Re-appoint director retiring by rotation.

Special Resolutions

• Appoint Statutory Auditors for a five-year term.
• Authorize board to borrow up to a specified limit.
• Authorize board to loans/guarantees/securities and investments within approved limits.

Director Changes

• Non-executive director to be re-appointed by rotation.

Auditor Appointments

• Statutory auditors appointed for five-year term; remuneration to be decided by Board.

Voting Status

• Voting results not disclosed in this filing.

AGM schedule and voting window

• 35th AGM to be held on 30 September 2026 at 11:00 IST via VC/OAVM.
• Board approved convening the AGM at its Sep 7, 2026 meeting.

Book closure and eligibility

• Register of Members and share transfer books closed Sep 24–30, 2026 (inclusive).
• Cut-off date for voting rights: Sep 23, 2026.

Remote voting window

• Remote e-voting period: Sep 26, 2026, 09:00 to Sep 29, 2026, 17:00 IST.