Varun Mercantile Ltd

AGM Details

• Date & time: 30 Sep 2026 at 10:30 a.m.
• Mode: Physical at registered office, Mumbai.
• Attendance: 15 members present.
• E-voting: Remote voting 26–29 Sep 2026; Insta Poll.

Resolutions

• Ordinary: Adoption of audited financials for FY ended Mar 31, 2026 and related reports.
• Ordinary: Appointment of Shri Sanjay T. More, retire by rotation as Director.
• Special: Re-appointment of Ms. Kirti B. Chaudhari as Manager.

Voting Results

• Voting outcome: All resolutions passed with the requisite majority.

Director Changes

• Director Changes: Sanjay T. More re-appointed as Director (retiring by rotation).

Varun Mercantile Limited — Closure of Trading Window from October 1, 2026 till the expiry of 48 hours after declaration of Unaudited Financial Results for the quarter ended September 30, 2026

Book closure and AGM details

• Book closure: Sep 18, 2026 to Sep 21, 2026 (inclusive).
• Purpose: for the 41st Annual General Meeting.
• Event date: AGM scheduled for Sep 30, 2026.
• Security: equity shares.

E-voting cut-off

• Cut-off date Sept 23, 2026 to ascertain physical or dematerialised shareholders eligible to vote electronically at AGM.

Financial snapshot

• Total income for 2025-26: ₹37.85 lakhs.
• Expenses: ₹15.84 lakhs.
• Profit before tax: ₹22.01 lakhs.
• Tax: ₹9.54 lakhs; net profit: ₹12.47 lakhs.
• Basic EPS: ₹0.63.
• Net worth: ₹551.62 lakhs.
• Total assets: ₹552.95 lakhs.
• Current ratio: 241.87x.
• Return on equity: 2.26%.

Balance sheet & liquidity

• Equity share capital: ₹199.20 lakhs.
• Total equity: ₹551.62 lakhs; reserves ₹352.42 lakhs.
• Total assets: ₹552.95 lakhs.
• Non-current assets: ₹230.43 lakhs; current assets: ₹322.52 lakhs.
• Net debt: negative ₹536.61 lakhs; net gearing: -0.97x.
• Cash & cash equivalents at year-end: ₹0.25 lakhs.

Cash flows

• Net cash from operating activities: ₹-39.06 lakhs.
• Net cash from investing activities: ₹37.85 lakhs.
• Net increase in cash: ₹-1.21 lakhs; closing cash: ₹0.25 lakhs.

Governance & management

• Statutory auditors: M/s N. J. Karia & Associates; no qualifications.
• Secretarial auditor: Rakhi Jethlia; no qualifications.
• Kirti Chaudhari re-appointed as Manager for five years from Sep 2, 2026; remuneration ₹8.89 lakh.
• Remuneration last drawn by Kirti Chaudhari: ₹8.84 lakh.
• Board met seven times during 2025-26; committees exist with defined roles.
• Exemption from Corporate Governance under Regulation 15 due to small capital.

Dividend & CSR status

• Dividend: Board did not recommend any dividend for 2025-26.
• CSR: Provisions not applicable; no CSR expenditure.

Share capital & AGM

• Issued share capital: ₹199.20 lakhs; fully paid.
• 41st AGM scheduled for 30 Sep 2026; remote e-voting Sep 26-29; cut-off Sep 23.

Related party & compliance notes

• Related party salaries to KMP total ₹10.35 lakhs.
• No material related party transactions outside ordinary course; disclosures as per Ind AS 24.

Business mix & outlook

• Company operates in trading of general commodities; no separate segments.
• No material changes in business during the year; outlook remains cautious with trading focus.

AGM Details

• AGM date/time/venue: Sep 30, 2026, 10:30 a.m., at registered office.
• Remote e-voting: Sep 26–29, 2026; cutoff Sep 23, 2026.
• Shareholder registers closed Sep 18–21, 2026.

Resolutions

• Ordinary: adopt audited financial statements and reports.
• Ordinary: Shri Sanjay T. More re-appointed as Director (retiring by rotation).
• Special: Kirti B Chaudhari re-appointed as Manager for five years; remuneration as per notice.

Dividend

• Dividend not proposed/declared for the year.

Appointments & Remuneration

• Statutory Auditor: M/s N J Karia & Associates continue; five-year tenure; remuneration Rs 0.30 lakh.
• Manager remuneration: Rs 8.89 lakh per annum for Kirti Chaudhari; five-year term.

Related Party Transactions

• No promoter-group related party transactions; KMP salaries disclosed; transactions at arm's length.

Voting Status

• Voting results not disclosed in this filing.

KMP Re-appointment Update

• Board approved 5-year re-appointment of Kirti B. Chaudhari as Manager, effective 2 Sep 2026 to 1 Sep 2031.
• Recommendation came from Nomination and Remuneration Committee.
• Term expired on 1 Sep 2026; re-appointment approved at meeting held 3 Sep 2026.
• Subject to approval of shareholders.
• Annexure confirms Kirti B. Chaudhari, aged 35, commerce graduate with 12+ years' experience.
• Not debarred from holding the office of Manager.
• Re-appointment details disclosed per SEBI Listing Regulations and circular.

Financial highlights

• Total income: 8.87 Lakh for quarter ended 30.06.2026; YoY -9%.
• Profit after tax: 2.41 Lakh; YoY -41%.
• Profit before tax: 4.65 Lakh; QoQ -6.8%.
• Earnings per share: Basic 0.12; Diluted 0.12.
• Current tax: 2.24 Lakh; QoQ -5.5%.
• Total expenses: 4.22 Lakh; QoQ -5.2%.
• Revenue from operations: 0.00 Lakh.

Meeting Details

• Board meeting on August 13, 2026; time and venue not disclosed.

Key Agenda Items

• Consider and approve unaudited financial results for quarter ended June 30, 2026.

Other Notes

• Trading Window Close Period from July 1, 2026 to 48 hours after results on August 13, 2026.