Sudal Industries Ltd

AGM details

• AGM held on a Saturday in late September 2026; 3:00 PM to 3:27 PM IST.
• Mode: physical meeting with remote e-voting and physical poll results.
• Record date: mid-September 2026.

Resolutions

• Ordinary: adopt annual financial statements and reports.
• Ordinary: re-appoint director by rotation.
• Special: re-appoint MD for a three-year term.
• Ordinary: ratify remuneration for Cost Auditors.

Voting results

• Resolution 1 passed with near-unanimous support.
• Resolution 2 passed; small number against.
• Resolution 3 passed; minor opposition.
• Resolution 4 passed; negligible opposition.

Dividend

• No dividend proposed or declared.

Directors / MD changes

• Promoter-director re-appointed by rotation.
• MD re-appointed for a three-year term.

Auditors

• No auditor appointments or changes disclosed.

Related party transactions

• No material related-party transactions disclosed.

Other material approvals

• Remuneration ratified for Cost Auditors; no ESOPs disclosed.

AGM Details

• 47th AGM held on 26 Sep 2026 at 3:00 PM IST at Nashik registered office.
• Mode: physical with remote e-voting; ballot voting available at the meeting.
• Remote e-voting window: Sep 23–25, 2026.
• Quorum met; 44 members present.
• Scrutinizer appointed for e-voting and ballot counting.

Key Resolutions

• Ordinary: Receive and adopt Audited Financial Statements for year ended 31 March 2026.
• Director re-appointment: Mukesh Vijayshi Ashar reappointed by rotation.
• MD re-appointment: Sudarshan Chokhani re-appointed as Managing Director for three years.
• Ordinary: Ratification of remuneration payable to Cost Auditors for FY 2026-27.

Voting Results

• Results will be announced to stock exchanges within two working days.
• Scrutinizer appointed for e-voting and ballot counting.
• Meeting concluded at 3:27 PM IST.

Director Changes

• MD designation change: Sudarshan Chokhani re-appointed as Managing Director for three years.
• Director re-appointment: Mukesh Vijayshi Ashar to continue as director on rotation.

Auditors

• Cost Auditor remuneration for FY 2026-27 to be ratified.

Sudal Industries Limited — Trading Window closure from Oct 1, 2026 till 48 hours after the declaration of Un-Audited Financial Results for quarter and half year ended Sep 30, 2026

Financial highlights

• Revenue from operations: ₹18,150.51 lakh; total revenue: ₹18,199.43 lakh.
• Net loss after tax: ₹(90.59) lakh, vs ₹569.78 lakh profit prior year.
• Earnings per share: ₹(1.08); prior year ₹6.81.
• PBT ₹407.69 lakh; current tax ₹202.00 lakh; deferred ₹234.61 lakh; earlier year ₹61.67.
• Cost of materials ₹14,553.29 lakh; total expenses ₹17,791.74 lakh.
• Auditors issued qualified opinion on going concern; Supreme Court stay pending final order.
• Single segment: aluminium extrusions; no subsidiary or associate.
• Dividend not declared; no transfer to reserves.

Operations & segments

• One reporting segment: aluminium extrusions and aluminium alloys.
• No subsidiary, associate, or joint venture.
• Ind AS compliant standalone financial statements.
• Industry margin pressures observed; elevated input costs compressed margins.

Capital structure & shareholding

• Authorised share capital ₹8.50 crore; issued paid-up ₹8.3678 crore.
• Equity shares issued: 83,67,818; paid-up ₹83.678 crore.
• Promoter group holds 67.44% as of 31 Mar 2026.
• Top holders: Sudarshan Chokhani 18.20%, Shyantanu Chokhani 32.48%, Sudal Enterprises 16.63%.
• No new equity issues or buybacks in the year.

Debt & liquidity

• Total borrowings ₹1,603.53 lakh; long-term ₹954.84; short-term ₹648.69.
• Net debt ₹1,552.21 lakh; gearing 0.64x.
• Cash and cash equivalents ₹72.88 lakh.
• Operating cash flow: ₹(381.57) lakh; investing ₹(181.15) lakh; financing ₹(750.09) lakh.
• Undrawn borrowing facilities: none.

Governance

• Board of six directors, including one Independent Woman Director.
• Independent Directors: Lalit Maharshi, Madhuri Ahire, Ranjeet Sharma.
• MD: Sudarshan S. Chokhani; WTD & CFO: Mukesh V. Ashar.
• Audit Committee chaired by independent director; met six times.
• NRC and SRC committees active; MD reappointment recommended.

Audit & internal controls

• Statutory auditors Bagaria & Co. LLP; second term to 2027.
• Secretarial audit by KRS & Co; notes include website updates and data gaps.
• 2025-26 CRA-2 delay; late filing fees paid.
• Internal control framework considered adequate but needs SOP strengthening.
• No fraud reported during the year.

Risks & going concern

• Going concern uncertain due to PPIRP stay; final Supreme Court order pending.
• Litigation with NCLT/NCLAT unresolved; outcome could affect financials.
• Regulatory fines for late filings recorded and paid.

CSR & sustainability

• CSR obligation not applicable; CSR spend NIL.
• CSR policy described; Annexure I appended in report.
• Electronic communications used; annual CSR reporting not mandatory here.

Shareholder information

• Share capital: 83,67,818 equity shares at ₹10 each.
• Promoters hold 67.44% of equity.
• AGM scheduled for 26 September 2026 at Nashik.

Meeting Details

• Board meeting scheduled for Friday, 14 August 2026.

Key Agenda Items

• Un-audited financial results for the quarter ended 30 June 2026.

Other Notes

• Trading window closed for insiders from July 1, 2026 until 48 hours after results declaration.

Dematerialisation processing status

• Securities received for dematerialisation during quarter ended 30 Jun 2026 were confirmed/accepted/rejected to the depositories.
• Securities dematerialised have been listed on the stock exchanges where earlier issued securities are listed.
• Physical certificates were mutilated and cancelled after verification; depository's name substituted as registered owner within prescribed timelines.

Appointment of Secretarial Auditor

• M/s. KRS AND CO. appointed as Secretarial Auditor for FY 2025-2026
• Appointment effective from March 30, 2026
• Firm represented by CS Ketan Ravindra Shirwadkar, Mem No. F13938, COP No. 15386
• Firm established in 2017, based in Thane, peer-reviewed with PR No. 3967/2023
• Firm specializes in company law, SEBI, FEMA, IPO, listing compliance, and corporate governance
• CS Ketan Ravindra Shirwadkar has over 10 years post-qualification experience
• Firm has adequate infrastructure and professional staff for timely and efficient services