SecUR Credentials Ltd

Meeting Details

• Date: 14 October 2026; Location: Registered Office, Raikar Chambers, Govandi East, Mumbai.

Key Agenda Items

• Unaudited standalone financial results for quarters ended Jun 2025, Sep 2025, Dec 2025, Mar 2026, Jun 2026.
• Appointment of Ms Soni Radheymohan Agarwal as Chief Financial Officer.

Other Notes

• No additional notes disclosed.

Financial highlights

• Revenue from operations Rs 55.24 lakh in FY2024-25.
• Total income Rs 81.26 lakh; net loss Rs 804.13 lakh.
• EPS (basic and diluted) -1.96 Rs.
• Dividend for 2024-25: not declared.

Liquidity and cash flows

• Cash and cash equivalents Rs 1.79 lakh; bank balances Rs 204.95 lakh.
• Net cash from operations Rs 202.94 lakh.
• Investing cash flow Rs -11.44 lakh; financing cash flow Rs 125.98 lakh.
• Year-end cash balance Rs 273.36 lakh.

Capital structure

• Total borrowings Rs 1,800.99 lakh; net debt Rs 1,799.20 lakh.
• Total equity Rs 3,461.18 lakh; equity share capital Rs 4,106.28 lakh.
• Trading suspended by NSE/BSE for listing-fee non-compliance.

Key ratios and margins

• Net profit margin -14.56%.
• Return on equity -0.21%.
• Current ratio 2.13; debt-equity 0.52.

Governance and audit

• Auditors JPMD & Associates issued a qualified opinion.
• Basis includes director debit balance and unbilled revenue concerns.
• Internal audit reports not provided; governance/compliance gaps noted.

Business developments and AGM

• 24th AGM scheduled Oct 23, 2026 via VC/OAVM.
• Loan verification services launched; growth driver expected.
• No change in nature of business during 2024-25.

Related party and compliance

• No material related-party transactions; RPT policy in place.
• Governance disclosures noted as non-compliant by auditors.

AGM details

• Date and time: 23 October 2026, 12:30 PM IST.
• Mode: VC/OAVM; no physical attendance.
• Cut-off date for voting: 16 October 2026.
• Deemed venue: Registered office.
• Remote e-voting window: Oct 20–22, 2026, 09:00–17:00 IST.

Ordinary resolutions

• Adopt Audited Standalone Financial Statements for year ended 31 March 2025.
• Re-appoint Ashish R. Mahendrakar, retiring by rotation, for reappointment.

Voting status

• Voting results will be announced at AGM and posted on company and NSDL websites.

Director changes

• Director Ashish R. Mahendrakar retires by rotation and is eligible for reappointment.

Auditor

• Statutory auditor JPMD & Associates listed; tenure details not provided.

AGM extension and timeline

• ROC Mumbai approved a one-month extension to hold AGM to Oct 31, 2026.
• AGM to be held within extended timeline; exact date to be announced.
• Original AGM due date was 30 September 2026; extension granted per ROC communication.
• Company to ensure compliance with Companies Act 2013 in future.

Financials

• Audited standalone Q4 and FY25 results approved by the Board.
• Q4 revenue from operations: Rs 59.14 Lacs; FY25: Rs 55.25 Lacs.
• Q4 total income: Rs 64.49 Lacs; FY25: Rs 81.27 Lacs.
• Q4 PBT: Rs -72.56 Lacs; FY25: Rs -804.13 Lacs.
• Q4 PAT: Rs -72.56 Lacs; FY25 PAT: Rs -804.13 Lacs.
• Q4 EPS: Rs -0.18; FY25 EPS: Rs -1.74.
• Year-end revenue from operations: Rs 55.25 Lacs; year total income: Rs 81.27 Lacs.
• Net worth: Rs 3,461.18 Lacs; Total assets: Rs 6,590.77 Lacs.

Audit & disclosures

• Auditors issued a qualified opinion on the standalone results.
• Basis includes missing supporting documents, non-provision of Expected Credit Loss, unbilled revenue.
• Interim SEBI order on transactions with Varanium Cloud Ltd.; matter under challenge.
• Some reconciling details and statutory dues disclosures were not provided to auditors.

Board actions

• Board approved Notice of 24th AGM to be held via VC/OAVM.
• Scrutinizer appointment for remote e-voting: Ms. Prachi Bansal.
• Registered office shifted within Maharashtra to Raikar Chambers, Govandi East; effective 05 Aug 2026.

Audit notes & results

• Standalone results for quarter ended 31 December 2024 were reviewed by the Audit Committee.
• Limited Review Report replaced; no change in unaudited results; revision only to Limited Review Report.
• Auditors' Emphasis of Matters notes on unaudited results; opinion not modified.
• Inventory overstatement risk noted due to incomplete verification; impact not quantified.
• Gratuity not recognized; actuarial valuation not obtained per Ind AS 19.
• Loan to a Director of INR 127.34 Lakhs contravenes Section 185.
• Current maturities of long-term borrowings not disclosed due to missing repayment schedules.
• Website not active; GST and PF/ESIC verifications unavailable.
• Opening balances considered from previous audit report; not independently verified.

Submission details

• SecUR Credentials submits revised unaudited standalone results for quarter ended 30 September 2024; cash flow statements submitted.
• Board approved the results on 04 May 2026; cash flow omission corrected.

Audit & reporting

• Limited Review conducted under SRE 2410; audit opinion not issued.
• Emphasis of Matters: notes to accounts.

Key disclosures & risks

• Loan to director of ₹152.12 Lakhs contravenes Section 185.
• Deferred Tax Assets not recognised due to uncertain future profits.
• Inventory overstatement risk due to physical verification discrepancy.
• Gratuity provision not recognised; actuarial valuation not obtained.
• PF/ESIC challans and reconciliations not produced.
• GST returns and reconciliation statements not made available.
• Opening statutory dues outstanding unpaid.
• Current maturities of long-term borrowings not disclosed due to missing repayment schedules.
• Website not active; disclosures verification not possible.

Key Decisions

• MD designation change; effective 17 July 2026; subject to member approval.
• Yogesh Kumar appointed Additional Director, Non-Executive (Non-Independent), effective 17 July 2026; liable to retire by rotation.
• Shivi Jindal appointed Additional Director, Non-Executive Independent, 5-year term, not liable to retire.
• Gitika Garg appointed Additional Director, Non-Executive Independent, 5-year term, not liable to retire.
• Apra Sharma appointed Additional Director, Non-Executive Independent, 5-year term, not liable to retire.
• Soni Agarwal appointed Chief Financial Officer and KMP, effective 17 July 2026.
• Amit Kumar Bharti and Shireen Mohd Haneef Khan resigned as Non-Executive Independent Directors, effective 17 July 2026.
• Bhimsen Vishwanath Pawar resigned as Executive Director, effective 17 July 2026.
• Ashish Ramesh Mahendrakar resigned as CFO, effective 17 July 2026.
• Committees reconstituted: Audit and Nomination & Remuneration Committees with updated chairs/members.

Meeting Details

• Board meeting scheduled for April 29, 2026.
• Location not disclosed.

Key Agenda Items

• Approve unaudited standalone financial results for quarter and half year ended September 30, 2024.
• Approve unaudited standalone financial results for quarter ended December 31, 2024.
• Approve audited standalone financial results for quarter and year ended March 31, 2025.
• Review corresponding limited review report and audit report from statutory auditors.

Other Notes

• Company will inform the stock exchange after the board meeting concludes.