Advance Metering Technology Limited reported losses for FY26, citing decreased sales and rising raw material costs during its 15th annual general meeting on September 8, 2026.

The company also secured shareholder approval for material related party transactions with Industrial Solutions Corporation LLP and an increase in the managing director’s remuneration.

Financial Performance and Operational Challenges

Prashant Ranade, Managing Director, informed members that the financial results were primarily attributable to a decrease in sales, increased raw material costs, operational challenges, lower demand, and exceptional expenses. Despite these headwinds, he stated the company has developed various products under its own brand and remains committed to its long-term vision.

The statutory auditors’ report and secretarial auditors’ report contained no qualifications, observations, or remarks regarding the financial statements for the year ended March 31, 2026.

Key Resolutions Passed

Shareholders voted on several ordinary and special business items during the virtual meeting, which was attended by 122 members. The key outcomes included:

• Adoption of audited standalone and consolidated financial statements for the year ended March 31, 2026.
• Reappointment of Mrs. Ameeta Ranade as a non-executive director, who retires by rotation.
• Appointment of M/s GSA & Associates LLP as statutory auditors.
• Approval of loans or guarantees under Section 185 of the Companies Act, 2013.
• Approval of investments, loans, guarantees, and security exceeding limits under Section 186 of the Companies Act, 2013.
• Approval of material related party transactions with Industrial Solutions Corporation LLP.
• Increase in the remuneration of the Managing Director within specified limits.

Meeting Proceedings

The meeting was chaired by Mrs. Ameeta Ranade, Chairperson & Non-Executive Director, in accordance with Article 64 of the Articles of Association. It commenced at 10:30 am via video conferencing and concluded at 11:25 am.

M/s Navneet K. Arora & Co. LLP served as the scrutinizer for the remote e-voting process conducted through NSDL. The Company Secretary confirmed that voting results would be placed on the company’s website and the NSDL e-voting portal.

Advance Metering Technology Ltd submitted its Annual Report for FY 2025-26, encompassing standalone and consolidated financial statements, corporate governance disclosures, directors' report, management discussion and analysis, and auditors' certificates. The report was digitally signed on August 13, 2026.

Board and leadership changes

The report discloses significant changes at the board level during the period. Mr. Pranav Kumar Ranade, the Chairman and Executive Director of the company, passed away on April 13, 2026. Subsequently, Mrs. Ameeta Ranade, a Non-Executive Director, was appointed as Chairperson of the company on April 27, 2026 through Postal Ballot. Mrs. Natasha Tara Ranade was appointed as Whole-Time Director with effect from April 27, 2026, also through Postal Ballot.

Additionally, Mrs. Priya Somaiya ceased to be a member of the Audit Committee with effect from May 4, 2025, and Mr. Aman Marodia was inducted as a member of the Committee with effect from May 3, 2025.

Report structure and coverage

The Annual Report for FY 2025-26 covers the following sections:

Corporate governance and compliance

The report includes an Auditors' Certificate on Corporate Governance issued pursuant to Regulation 34(3) and Schedule V Para C clause (10)(i) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The certificate was issued by CS Navneet Arora, Managing Partner of Navneet K Arora & Co LLP, Company Secretaries.

The corporate governance section details the composition and functioning of board committees, including the Audit Committee, and discloses attendance records and remuneration details for directors and key managerial personnel.

Financial statements

The standalone and consolidated financial statements for FY 2025-26 include the Balance Sheet, Profit & Loss Statement, Cash Flow Statement, and accompanying notes and significant accounting policies. Independent auditors' reports have been issued for both standalone and consolidated financial statements. The report also includes a reconciliation of significant accounting policies applicable to consolidated accounts.

The company's registered and corporate office is located at C-4 to C-11, Hosiery Complex, Phase-II Extension, Noida-201305.