SRM Energy Ltd

SRM Energy Limited – Trading Window Closure from 1st October 2026 for the quarter & half year ended 30th September 2026; The Trading Window shall open 48 hours after the Announcement of Un-Audited Financial Results for the quarter & half year ended 30th September 2026, become generally available.

AGM details

• AGM held on 22 September 2026 at 11:30 AM via VC/OAVM.
• Record date for entitlements: 11 September 2026.
• Meeting duration: 11:30 AM to 11:45 AM.
• Shareholders on record: 8,723.
• VC attendees: 2 promoters, 48 public.
• Remote e-voting conducted 19-21 September 2026.

Resolutions

• Ordinary resolution: Adoption of audited standalone financial statements, directors’ report and auditors’ report.
• Ordinary resolution: Re-appointment of Mrs. Sapna Umesh Sanghvi as Director.

Voting results

• Resolution 1 passed; majority in favour with minimal opposition.
• Resolution 2 passed; majority in favour with minimal opposition.

Director changes

• Director re-appointment approved: Sapna Umesh Sanghvi re-appointed.

AGM Details

• Date, time and mode: 22 Sep 2026, 11:30 A.M. IST via VC/OAVM.
• Duration: 11:30 to 11:45 A.M. IST.
• Attendance: 50 members attended.
• Remote e-voting window: 19-21 Sep 2026, 9:00 A.M. to 5:00 P.M. IST.
• Place: Mumbai.

Resolutions & Outcomes

• Ordinary Resolution 1: Adopt Audited Financial Statements for FY ended March 31, 2026; passed.
• Ordinary Resolution 2: Re-appoint Sapna Umesh Sanghvi, retiring by rotation; passed.

AGM and AR update

• 39th AGM scheduled for 22 September 2026 at 11:30 IST via VC/OAVM.
• Annual Report FY2025-26 to be accessed online via the AR link on SRM Energy site.
• Letters dispatched to shareholders without registered emails providing the AR web-link.
• Regulation 36(1)(b) compliance noted for sharing AR access with non-registered members.
• Shareholders with Demat or Physical shares urged to register/update their email addresses.

Financial snapshot

• Revenue from operations: 0.00; total income: 227.12 lakhs.
• Other income: 227.12; total expenses: 173.99; net profit: 32.06.
• Profit before tax: 53.13; tax: 21.06; EPS: 0.35.
• Total comprehensive income: 31.57; OCI: (0.50) Lakhs.
• Dividend declared: none; no dividend recommended for FY2025-26.

Balance sheet and liquidity

• Equity share capital: ₹906.00 lakhs; net worth: ₹-378.66 lakhs.
• Authorized capital: ₹1,130.00 lakhs; issued capital: ₹906.00 lakhs.
• Current liabilities: ₹379.01 lakhs; borrowings: ₹357.41 lakhs; cash: ₹0.25 lakhs.

Cash flow and capital structure

• Operating cash flow: ₹158.63 lakhs; financing cash flow: ₹-158.42 lakhs.
• Net increase in cash: ₹0.21 lakhs; opening cash: ₹0.04 lakhs; closing: ₹0.25 lakhs.

Promoter change and corporate actions

• Promoter Spice Energy sold 64.50 lakh shares (71.19%); open offer completed Mar 2026.
• Post-change promoters: Umesh Narpatchand Sanghvi 42.72%; Sapna Narpatchand Sanghvi 28.48%.
• Spice Energy now public shareholder; promoter group reduced/discontinued.
• Registered office moved to Greater Kailash 2, New Delhi on 17 Mar 2026.

Subsidiaries and investments

• SRM Energy Tamilnadu Private Limited ceased to be subsidiary; investment liquidated for ₹1.00 lakh.
• No subsidiary held at year-end.

Audit and governance

• Statutory auditors: Rajat Associates appointed for five years (2026–2030).
• Earlier auditor: Saini Pati Shah & Co. LLP; replaced in 2026.
• Secretarial auditor: HSPN & Associates LLP appointed (2026–2030).
• Board meetings held: 7 during the year.

Risks and going concern

• Auditors express qualified opinion due to going concern and negative net worth.
• Management focusing on revival plans and compliance; no operating revenue from project.
• Indian power sector outlook remains positive; company pursuing strategic alternatives.

Related party transactions and disclosures

• Loans from Spice Energy Private Limited: ₹357.41 lakhs; SRM Tamilnadu: ₹0.00.
• Salaries to executive officers: ₹25.56; investment disposal: ₹1.00 to Spice Energy.
• Remuneration to KMP disclosed; related party balances applicable as of year-end.

Contingent liabilities and tax

• Contingent liability: Suit No. 966 of 2014; disputed tax liabilities: ₹0.00 (as of 31-03-2026).
• Income tax demands settled; no outstanding tax demands at reporting date.

Key Decisions

• Approved Directors Report along with related annexures for FY 2025-2026.
• Approved closure of Register of Members and Share Transfer Books for AGM 15-22 Sep 2026.
• Approved e-voting entitlement cut-off date.
• Approved convening the 39th AGM on 22 Sep 2026 at 11:30 AM via VC/OAVM.
• Approved 39th Annual Report for FY ended 2025-2026, including AGM notice.

Appointments/Resignations

• Appointed Hemant Shetye as Scrutinizer; in default, Kunal Sakpal to conduct e-voting.
• Approved appointment of CDSL to facilitate AGM e-voting.
• Authorized Directors/CS to conduct AGM and sign/send Notice and documents.

Financials

• Total income Rs 357.40 lakh; PAT Rs 350.54 lakh, quarter ended 30 June 2026.
• EPS (basic/diluted) Rs 0.35; not annualised.
• Auditors issued qualified opinion; going concern uncertainty.

Going concern & liquidity

• Company has no active business operations and cash losses; net worth eroded.
• Going concern depends on financial support from management or related entities.
• Financial statements prepared on going concern basis.

Financial results

• Board approved standalone unaudited results for quarter ended 30 June 2026, with Limited Review Report.

Dematerialisation processing status

• All dematerialisation requests processed within 15 days of receipt.
• Dematerialised securities listed on the stock exchanges where the original issues are listed.
• Physical certificates were mutilated and cancelled; depository named registered owner in records.