Aditya Forge Limited has scheduled its 33rd Annual General Meeting (AGM) for Wednesday, September 30, 2026. The meeting will address key corporate governance matters, including the re-appointment of the Managing Director and the appointment of a new Non-Executive Professional Director.

The company notified the Bombay Stock Exchange on September 3, 2026, regarding the book closure period and the AGM details. The Register of Members and Share Transfer Books will remain closed from Thursday, September 24, 2026, to Wednesday, September 30, 2026. Members holding shares as on the cut-off date of Wednesday, September 23, 2026, are eligible to vote via remote e-voting or at the physical meeting.

Meeting Details

The AGM will be held at 1:00 pm at T-4, Shreeji Astha Avenue Ellora Park, Alkapuri, Vadodara. The company is providing remote e-voting facilities through National Securities Depository Limited (NSDL). The e-voting window opens on Sunday, September 27, 2026, at 9:00 am and closes on Tuesday, September 29, 2026, at 5:00 pm.

Key Dates

Agenda Items

The notice outlines four primary resolutions for shareholder approval:

1. Adoption of Financial Statements: Consideration and adoption of the audited financial statements for the fiscal year ended March 31, 2026, along with reports from the Board of Directors and Auditors.
2. Re-appointment of Managing Director: Re-appointment of Mr. Nitin Rasiklal Parekh (DIN: 00219664), who retires by rotation. He has served as Managing Director since February 27, 1992, and holds 663,900 equity shares.
3. Appointment of Non-Executive Professional Director: Appointment of Mrs. Ruta Rohankumar Soni (DIN: 02371504) as a Non-Executive Professional Director. She was initially appointed as an Additional Director on October 8, 2025, following a recommendation by the Nomination and Remuneration Committee. She currently serves as a director in Bloom Dekor Ltd and SMR Jewels Limited.
4. Change of Registered Office: Shifting the registered office from Vadodara to Ahmedabad, Gujarat. The Board cited operational convenience and efficiency as reasons for the move. This requires approval via a Special Resolution as it involves moving outside the local limits of the current city.

Governance and Compliance

The appointment of Mrs. Soni aims to enhance board diversity with her expertise. She holds a Bachelor of Commerce degree and has completed two levels of the Company Secretary course. Mr. Parekh continues to lead the company with over 33 years of experience in manufacturing forged flanges and pipe fittings.

M/s. ALAP & Co. LLP has been appointed as the Scrutinizer to oversee the voting process. The results will be declared immediately after the conclusion of the AGM and uploaded to the company’s website and BSE.

Aditya Forge Limited reported zero revenue from operations for the financial year ended March 31, 2026 (FY26), marking a sharp decline from the previous year’s activity. Despite the absence of operational income, the company posted a net profit after tax (PAT) of ₹13.05 lakh, compared to a profit of ₹699.34 lakh in FY25.

The profitability in FY26 was primarily driven by a tax benefit rather than operational performance. The company recorded a loss before tax of ₹9.97 lakh, which turned into a profit due to a tax expense credit of ₹23.02 lakh. This credit arose from the adjustment of tax relating to earlier years, specifically the reversal of excess provision created in the prior financial year.

Financial Performance

The company’s total income stood at nil in FY26, down from ₹1,358.82 lakh in FY25. The previous year’s income included ₹1,032.76 lakh from other sources, largely comprising a gain on the sale of assets.

Operating expenditure decreased significantly to ₹9.49 lakh in FY26 from ₹585.00 lakh in FY25, reflecting the halt in core business activities. Finance costs were minimal at ₹0.48 lakh, compared to ₹1.19 lakh in the previous year.

Balance Sheet and Cash Position

As of March 31, 2026, the company’s cash and cash equivalents dropped to ₹0.53 lakh from ₹36.92 lakh a year earlier. Total assets declined to ₹138.62 lakh from ₹227.03 lakh.

The company holds no fixed assets or inventory as of the reporting date. Non-current assets include ₹32.29 lakh in advances paid to suppliers. Liabilities include ₹372.00 lakh in long-term borrowings and ₹99.84 lakh in trade payables. Contingent liabilities related to income tax demands stand at ₹102.77 lakh, up from ₹35.69 lakh in FY25.

Corporate Developments

The Board of Directors has proposed shifting the company’s registered office from Vadodara to Ahmedabad. This move requires shareholder approval via a special resolution at the upcoming Annual General Meeting (AGM). The change remains within the jurisdiction of the Registrar of Companies (ROC) Ahmedabad.

The 33rd AGM is scheduled for September 30, 2026. Other key agenda items include:

• Re-appointment of Managing Director Nitin Rasiklal Parekh, who retires by rotation.
• Appointment of Mrs. Ruta Rohankumar Soni as a Non-Executive Professional Director.
• Adoption of the audited financial statements for FY26.

Auditor Observations

Statutory auditors M A A K & Associates issued a qualified opinion on the financial statements. They noted that balance confirmations for trade payables, loans, and receivables were not provided, preventing verification of these balances. Additionally, the auditors highlighted uncertainties regarding an income tax notice, for which no provision has been made in the financial statements.

The secretarial audit report flagged several compliance delays, including late filing of certain SEBI disclosures and ROC forms. The company also had not appointed an internal auditor during the year under review.