Sterling Green Woods Ltd

Sterling Greenwoods Limited: Trading window closed from October 1, 2026 until 48 hours after the declaration of its Unaudited Financial Results for the quarter ended September 30, 2026.

AGM Record Date

• Record date fixed: 23 September 2026 for equity shareholders.
• AGM on 30 September 2026 at 11:30 AM; venue Hotel Madhuli, Ahmedabad.
• Eligible shareholders on record date may vote via remote e-voting or at AGM.
• Security type: Equity shares.

Financial highlights (Standalone)

• Revenue from operations: nil for 2025-26; prior year 117.90.
• Total income: Rs 5.96 lakh.
• PBIDT: Rs -56.56 lakh.
• Finance costs: Rs 98.35 lakh.
• Depreciation: Rs 4.83 lakh.
• Profit before tax: Rs -159.74 lakh.
• Deferred tax: Rs 35.36 lakh; MAT credit nil.
• Profit after tax: Rs -124.38 lakh; EPS Rs -2.67.
• Total assets: Rs 2,908.06 lakh; Net worth: Rs 1,095.54 lakh.

Consolidated results

• Consolidated revenue for year: Rs 5.96 lakh.
• Consolidated net loss: Rs 125.77 lakh; basic EPS Rs -2.97.
• Consolidated total assets: Rs 2,911.88 lakh.
• Consolidated equity: Rs 1,086.56 lakh.

Dividends and AGM

• No dividend declared for FY2025-26.
• Record date for AGM fixed at 23 Sep 2026; AGM on 30 Sep 2026.

Debt, liquidity and cash flow

• Current borrowings: Rs 1,346.84 lakh; long-term borrowings: Rs 12.81 lakh.
• Inter-Corporate Deposit outstanding: Rs 1,307.51 lakh.
• Cash and cash equivalents: Standalone Rs 1.04 lakh; Consolidated Rs 1.12 lakh.
• Net cash from operating activities: Rs -97.44 lakh.
• Net cash from financing activities: Rs -154.54 lakh.
• Net decrease in cash: Rs -249.14 lakh.

Governance and management changes

• Deepak M Kalani appointed Managing Director from 19 Sep 2025.
• Umang Devjibhai Gohel appointed Additional Independent Director from 14 Nov 2025.
• N Nishant Singh ceased as Independent Director from 8 Sep 2025.
• Brinda Nathvani appointed Company Secretary from 27 Apr 2026; Siddharth Shah ceased 11 Sep 2025.
• KMP changes: Kantilal Panchal (CFO) resigned 21 Jul 2025; Nipun Kanodia appointed 19 Sep 2025.
• Audit Committee reconstituted; Umang Gohel appointed Chairman from 14 Nov 2025.

Audit and compliance flags

• Standalone audit: qualified due to edit log not fully implemented; impairment not quantified.
• Secretarial audit flagged delays and non-compliances; Nomination & Remuneration Committee lacking earlier.
• Emphasis of matter on pending NCLT and other litigation; GST liabilities noted as nil in consolidation.

Operational developments and outlook

• Major asset reclassified from PPE to Investment Property; rental income recognized under Ind AS 116.
• Strategy includes diversifying income, leasing assets, and refinancing the capital structure.

AGM notice and regulatory framework

• 34th AGM notice issued; e-links provided; documents sent electronically per green initiative.
• Annual return accessible on the company website; AGM agenda includes appointment and remuneration items.

Subsidiaries and related parties

• Sterling Resorts Private Limited is the subsidiary; Form AOC-1 shows 95.08% holding.
• Inter-company loans and advances with related parties disclosed; one subsidiary loan balances outstanding.

AGM Details

• AGM on 30 September 2026 at 11:30 AM, physical at Hotel Madhuli, Ahmedabad.
• Record date fixed as 23 September 2026.
• Remote e-voting window: 27 Sep 2026 09:00 to 29 Sep 2026 17:00.

Resolutions Put to Vote

• Ordinary: adopt standalone and consolidated financial statements and auditors’ reports.
• Ordinary: reappoint Narendra Saini as director, liable to retire by rotation.
• Ordinary: regularize Deepak Mukesh Kalani as director.
• Ordinary: regularize Umang Devjibhai Gohel as independent director.
• Special: appoint Deepak Mukesh Kalani as managing director for three years with Rs 3.0 lakh p.a.

Voting Results

• Voting results for resolutions are not disclosed in this filing.

Dividend

• No dividend proposed or declared for the year.

Director Changes & Appointments

• Narendra Saini to be reappointed as director; retires by rotation.
• Deepak Kalani to be regularized as director.
• Umang Gohel to be regularized as independent director.

Auditors

• Statutory auditors Nahta Jain & Associates for five-year term to 2029-30.

Material Related Party Transactions

• Inter-Corporate Deposit with related parties: Rs 1307.51 lakh at 9%.
• Sterling Resorts Pvt Ltd: advances Rs 58.73 lakh; loan Rs 1.28 lakh.
• Remuneration to KMP/directors from related parties: Rs 14.26, 2.40, 13.45, 0.90 lakh.
• Rent/payables to related parties: Rs 3.85 lakh and Rs 6.20 lakh.

Other Material Approvals

• Special resolution to approve MD appointment; Gohel’s independent director term.

Auditor and Scrutinizer appointments

• Reappointment of Kinjal Shah, practicing Company Secretary, as Secretarial Auditor for FY2026-27, effective 29 Aug 2026.
• Reappointment of M.P. Sutaria & Co. as Internal Auditor for FY2026-27, effective 29 Aug 2026.
• Kinjal Shah appointed Scrutinizer for remote e-voting at AGM.

Financial results

• Unaudited standalone and consolidated results for quarter ended 30 June 2026 approved with LR reports attached.
• Results reviewed by statutory auditors.

Auditor remarks

• Auditors' report notes emphasis of matter on ongoing litigation and regulatory matters.
• Financial impact of orders/litigation yet to be determined by the board.

Material regulatory / legal matters disclosed

• Ongoing civil suits against Paksh Developers and directors; Sanand and Kalol court orders pending.
• NCLT/other proceedings noted; impact on financials to be assessed.
• FIR for misappropriation of Rs 17.55 lakh; provision made.
• NCLT order affects AGM resolutions; financial impact to be decided.
• Lease with Pushpadevi Goenka Trust; no depreciation for Greenwood Lake Resort in specified quarters.

Regulatory updates

• Company evaluating impact of New Labour Codes effective 21 November 2025; accounting treatment to be determined.

Meeting Details

• Board meeting on 12 August 2026; time and venue not disclosed.

Key Agenda Items

• Approve standalone and consolidated unaudited results for quarter and three months ended June 30, 2026 with draft LR.
• Any other business with chair's permission.

Other Notes

• Trading window closed from 01-Jul-2026; remains closed till 48 hours after conclusion of the meeting.