Shristi Infrastructure Development Corporation Ltd

AGM Details

• 36th AGM held via VC/OAVM on September 29, 2026.
• E-voting results (Annexure-I) and Scrutinizer Report (Annexure-II) attached.

AGM Details

• AGM held Sep 29, 2026 via VC/OAVM at 12:30 IST.
• Quorum met; 40 members attended.
• Remote e-voting conducted Sep 25–28, 2026.
• Meeting concluded at 1:38 PM.

Resolutions

• Adopt audited standalone and consolidated financial statements and reports; ordinary; passed.
• Re-appointment of Sunil Jha by rotation; ordinary; passed.
• Ratification of remuneration payable to Cost Auditors M/s D. Radhakrishnan & Co.; special; passed.

Voting Results

• All resolutions passed by requisite majority per Scrutinizer.

Director Changes

• Director Sunil Jha re-appointed by rotation.

Auditors

• Statutory Auditors gave qualified opinion on FY ended Mar 31, 2026.
• Remuneration payable to Cost Auditors ratified.

Financial Highlights

• Standalone turnover Rs 69.76 Cr; standalone net loss before tax Rs 17.34 Cr.
• Consolidated net loss before tax Rs 17.35 Cr.

Business Update

• Projects include Shristi Nagar Guwahati and Asansol township progress.

Shristi Infrastructure Development Corporation Limited — Trading Window closed from Thursday, October 1, 2026 till 48 hours after the declaration of Unaudited Financial Results for the Quarter ended September 30, 2026.

AR/AGM notice to non-email members

• Intimates AR 2025-26 and AGM notice will be shared via web-links and QR codes for unregistered email holders.

AGM details

• 36th AGM to be held via video conferencing/AV at 12:30 IST.
• Voting cut-off date set for 21 September 2026.

Key resolutions

• Ordinary: Adoption of standalone and consolidated financial statements.
• Ordinary: Re-appointment of Sunil Jha as Director by rotation.
• Ordinary: Appointment of Sunil Jha as MD for 3 years.
• Ordinary: Ratification of cost auditors for 2026-27.

Voting results

• MD appointment passed by postal ballot; 99.998% in favour.

Dividend

• No dividend proposed or declared for the year.

Director changes

• Sunil Jha appointed as Managing Director; to be reappointed by rotation.

Auditors

• Statutory auditors to continue to 37th AGM (2027).
• Cost auditors remuneration to be ratified.

Related party transactions

• RPTs disclosed; no material RPT approved at the AGM.

Other material

• No other material approvals reported.

Financial performance

• Standalone revenue Rs 7,102.29 lakhs; consolidated revenue same.
• Standalone net loss Rs 1,726.55 lakhs; consolidated Rs 2,544.13 lakhs.
• EBITDA: Standalone Rs -122.16 lakhs; Consolidated Rs -122.99 lakhs.
• EPS: Standalone Rs -7.78; Consolidated Rs -11.46.
• Board did not recommend any dividend for the year.
• Total borrowings: Rs 36,110.29 lakhs; net debt Rs 35,977.00 lakhs; cash Rs 133.29 lakhs.
• NCDs of Rs 145 crore due for redemption on 30 Nov 2026; interest paid timely.
• Auditors qualified on borrowings; significant going-concern and CIRP-related uncertainties.
• Emphasis of matter on going concern due to sustained losses and negative net worth.
• Promoter group holds 74.93% (Adishakti 74.50%).
• AGM 36th scheduled for 29 September 2026 via VC/OAVM.
• Transfer to IEPF: Rs 67,427.50 to dividend unclaimed; 83,580 shares transferred.

Debt & liquidity

• Total borrowings (standalone) 36,110.29 lakhs; split non-current 21,435.29 and current 14,675.00.
• Net debt to equity ratio: -4.87x; equity is negative.
• Srei Equipment Finance borrowings total Rs 26,? Wait: non-current Rs 21,435.29; current Rs 14,675.00; total Rs 36,110.29.
• Credit ratings: Bank facilities - BWR D; NCD - BWR C.
• NCD redemption due: Rs 145 crore on 30.11.2026; interest paid as per terms.
• Promoter group Adishakti holds 74.50%; total promoter voting power 74.93%.
• Cash used in operations and working-capital facilities affected liquidity; debt restructuring ongoing.

Governance & board

• Board strength: 5 directors; 1 Executive (MD Sunil Jha) and 4 Independent Directors.
• MD Sunil Jha reappointed from 04-03-2026 to 03-03-2029 with NIL remuneration.
• Four Board meetings in 2025-26; Audit Committee has 4 meetings; NRC 1 meeting; Stakeholders 1 meeting.
• Independent Directors: Kumar Shankar Datta, Debaditya Chakrabarti, Vinod Kumar Pandey, Laxmi Chauhan.
• Promoter group shareholding: 74.93% as of 31 Mar 2026.
• 36th AGM scheduled for Sept 29, 2026 via VC/OAVM.
• Secretarial audit by M&A Associates; no qualification reported.

Subsidiaries & joint ventures

• Subsidiaries: 7 direct; SUHRPL under CIRP; no material subsidiary.
• Associate: Bengal Shristi Infrastructure Development Limited (JV) with 33.24% holding.
• Sarga Udaipur Hotels & Resorts Private Limited is in CIRP; realisability of investment/loans uncertain.
• Shristi Urban Infrastructure Development Limited holds 59.99% in its subsidiary group.

Related party transactions

• All related-party contracts on arm's length basis; Audit Committee reviews quarterly.
• Disclosures of related party transactions are in Note 31; policy on RPTs on company website.
• Prominent related parties include Bengal Shristi, Shristi Urban and other group entities.
• No material off-policy transactions; omnibus approvals in place where applicable.

Audit, controls & risk

• Statutory auditors: M/s R Kothari & Co. LLP; issued qualified opinions on standalone and consolidated.
• Internal controls: Adequate; no reportable material weaknesses observed.
• Secretarial audit: M/s M&A Associates; no qualifications reported.
• Key audit matters: Revenue recognition under Ind AS 115; contingent liabilities and litigation.
• Management disclosures include going-concern assessment; dependent on future cash flows and debt-restructuring.

Outlook & strategic developments

• Management optimistic about long-term real estate demand; focus on integrated township development via associates/JVs.
• Indian real estate sector supported by infrastructure reforms and REIT reforms; growth in Tier-2 markets.
• Company pursuing debt-restructuring and CIRP resolution pathways; future profitability contingent on cash flows.
• Macro backdrop: GDP growth around 7.7% in 2025-26; ongoing policy focus on affordable housing and infra.

AGM Details

• 36th AGM on Sep 29, 2026 at 12:30 IST via VC/OAVM.
• Venue: Registered Office, Plot X-1 to X-3, Sector-V, Salt Lake City, Kolkata.
• Notice and Annual Report to be sent electronically to members.
• Physical copies available on request.

Results advertisement

• Purpose: submission of unaudited standalone and consolidated results for quarter ended 30 June 2026.
• Publication: results published on 13 August 2026 in Financial Express and Aajkal.
• Sign-off: digitally signed by Krishna K. Pandey, Company Secretary & Compliance Officer.
• Status: results are unaudited; no completion status disclosed in filing.
• Channel: newspapers used to inform shareholders and for information/record purposes.