The Ravalgaon Sugar Farm Ltd

The Ravalgaon Sugar Farm Limited — Trading window closed from Oct 01, 2026 till 48 hours after the declaration of Unaudited Financial Results for the quarter and half year ended September 30, 2026.

AGM Details

• AGM held on 16 September 2026 at 2:00 PM via VC/OAVM.
• End time 2:16 PM.
• Record date 09-09-2026; on-record shareholders 3241.

Key Resolutions

• Resolution 1 (Ordinary): Adopt Audited Financial Statements for FY2026.
• Resolution 2 (Ordinary): Appoint director by rotation; re-appoint Nihal Doshi.
• Resolution 3 (Ordinary): Re-appoint Nihal Doshi as Executive Director for three years.
• Resolution 4 (Special): Re-appoint Rajiv Jain as Independent Director.
• Resolution 5 (Special): Re-appoint Subodh Mawalankar as Independent Director.

Voting outcomes

• Resolution 1 passed with 98.68% in favour; 1.32% against.
• Resolution 2 passed with 98.68% in favour; 1.32% against.
• Resolution 3 passed with 98.68% in favour; 1.32% against.
• Resolution 4 passed with 98.68% in favour; 1.32% against.
• Resolution 5 passed with 98.68% in favour; 1.32% against.

Directors changes

• Nihal Doshi re-appointed as Director by rotation.
• Nihal Doshi re-appointed as Executive Director for three years.
• Rajiv Jain appointed Independent Director.
• Subodh Mawalankar appointed Independent Director.

Dividend

• Dividend: No dividend proposed or declared.

Auditors & related party disclosures

• No material related party transactions disclosed.
• No auditor changes reported.

AGM details

• Held on 16 September 2026 at 2:00 PM IST via VC/OAVM.
• Remote e-voting: 12–15 September 2026; cut-off 9 September.
• Quorum present; proxies not applicable due to VC/OAVM.
• Corporate office deemed venue; notices circulated electronically.
• Two authorized representatives attended, representing 49.10% of paid-up capital.
• Total 19 members present via VC.

Resolutions put to vote

• Item 1 Ordinary: Adopt Audited Financial Statements for year ended 31 March 2026.
• Item 2 Ordinary: Appoint Nihal Doshi, retiring by rotation.
• Item 3 Ordinary: Re-appoint Nihal Doshi as Executive Director for three years.
• Item 4 Special: Re-appoint Rajiv Jain as Independent Director.
• Item 5 Special: Re-appoint Subodh Mawalankar as Independent Director.

Voting results

• Consolidated results to be announced to BSE within 2 working days.
• No pass/fail details disclosed in the summary.

Director changes

• Nihal Doshi to continue as Director and Executive Director.
• Rajiv Jain and Subodh Mawalankar to continue as Independent Directors.

Auditor and related appointments

• Statutory auditors attended; no new auditor appointments disclosed.

Material related party transactions

• No material related party transactions disclosed in summary.

Other material approvals

• No other material approvals reported.

AGM notice and compliance

• AGM 91st to be held on Sept 16, 2026 at 2:00 PM IST via VC/OAVM.
• Annual Report 2025-26 will be accessible via a web link for shareholders without registered emails.
• Web link for the Annual Report is https://www.trsfl.in/annual-results.html.
• KYC updates are requested per SEBI circular, including PAN, address, mobile, bank details, and nomination.
• Physical-securities holders must update contact details to receive payments electronically.
• Queries should be directed to Purva Sharegistry; investor relations contact provided.

Financial performance

• Revenue from operations NIL in FY2025-26; 115.81 in FY2024-25.
• Total income Rs 61.13 Lakhs in FY2025-26, vs Rs 241.32 Lakhs prior year.
• Total expenses Rs 308.74 Lakhs in FY2025-26.
• Profit before tax (PBT) Rs (247.61) Lakhs in FY2025-26.
• Profit after tax Rs (486.54) Lakhs; total comprehensive income Rs (491.21) Lakhs.
• Net worth Rs 1,017.87 Lakhs as at 31 Mar 2026.
• Earnings per share (basic & diluted) Rs (143.10).
• Dividend for FY2025-26: Not declared.

Operations & business status

• Confectionery IP sold to Reliance Consumer Products Limited in March 2024.
• Manufacturing operations suspended since FY2013-14; no operating segments.
• Strategic review ongoing to redeploy assets; exploring alternative uses.
• Residual asset disposals and asset-management activities only.

Capital structure & liquidity

• Issued share capital Rs 34.00 Lakhs; authorized Rs 6.00 Crores.
• Borrowings current Rs 252.00 Lakhs (Inter-corporate deposits).
• Net worth Rs 1,017.87 Lakhs; total assets Rs 1,453.36 Lakhs.
• Cash and cash equivalents Rs 19.63 Lakhs.
• Major shareholding: Lanica Financial Services 41.71%; Carina Finvest 7.38%.

Governance & management

• Board comprises 2 executives and 4 independent directors.
• Executive Director Nihal Doshi proposed for 3-year reappointment (Jan 2027–Dec 2029) with remuneration Rs 2.50 Lakhs per month (~Rs 30 Lakhs/year).
• Independent directors Rajiv Jain and Subodh Mawalankar proposed for second terms to 2031 and 2032.
• Non-Executive Directors receive sitting fees only; no other remuneration.

Audits & internal controls

• Statutory Auditor: Patkar & Pendse; Internal Auditor: Sandesh Kadam & Associates.
• Secretarial Auditor: S. R. Padhye & Co.; Secretarial Audit Annexure included.
• Auditors’ report: no qualifications; going concern assumption maintained.

Contingent liabilities & litigation

• Total contingent liabilities Rs 546.66 Lakhs.
• Notable items: PF on contract labour (Rs 140.00 L); Gram Panchayat cess (Rs 252.43 L).
• Water usage charges dispute; gratuity dispute with Labour Court; contingent exposure under review.

Outlook & risks

• No revenue from confectionery since IP sale; activity expected to be nominal until strategy defined.
• Board evaluating asset redeployment; potential capital expenditure for new direction.
• Risks include regulatory changes, inflation, and execution risks of new ventures.

Statutory & compliance

• Secretarial standards SS-1 and SS-2 followed; AGM through VC/OAVM per MCA circulars.
• CSR not applicable; no CSR expenditure for year.
• Disclosure of related party transactions; all in ordinary course and arm’s length.

AGM Details

• Date and time: 16 September 2026, 2:00 PM IST; Mode: VC/OAVM.
• Voting window: remote e-voting Sep 12–15, 2026.
• E-voting cut-off: Sep 9, 2026.
• No proxy facility due to VC/OAVM.
• Corporate office deemed AGM venue.

Resolutions

• Ordinary: Adopt Audited Financial Statements for the year ended March 31, 2026.
• Ordinary: Re-appoint Nihal Doshi by rotation as Director.
• Special: Re-appoint Nihal Doshi as Executive Director for 3-year term.
• Special: Re-appoint Rajiv Jain as Independent Director for second term (2026–2031).
• Special: Re-appoint Subodh Mawalankar as Independent Director for second term (2027–2032).

Remuneration (Item 3)

• Executive Director remuneration: Rs 2.50 lakh per month.
• Total remuneration includes housing, medical, travel; Schedule V ceiling applies.
• Term: January 1, 2027 to December 31, 2029.

Director Changes

• Nihal Doshi to be re-appointed by rotation as Director.
• Rajiv Jain re-appointed as Independent Director for second term (2026–2031).
• Subodh Mawalankar re-appointed as Independent Director for second term (2027–2032).

AGM notice and voting details

• AGM 91st scheduled Sept 16, 2026 at 2:00 PM IST via VC/OAVM.
• Notice of AGM and Annual Report for FY2025-26 sent by email to members.
• Annual Report available on the company website and BSE.
• Notice sent to members with registered email as on Aug 14, 2026.
• Voting by remote e-voting; User IDs/passwords available on request.
• Cut-off date for voting eligibility: Sept 9, 2026.
• Signatory: Company Secretary & Compliance Officer; Date: Aug 21, 2026.
• Notice issued in compliance with MCA and SEBI circulars.