Ajel Limited has scheduled a meeting of its Board of Directors for September 5, 2026, to finalize the logistics for its upcoming Annual General Meeting.

The board meeting is set to begin at 11:00 am at the company's corporate office in Mumbai. The primary agenda item involves determining the date, time, and venue for the AGM of members for the fiscal year ending March 31, 2026 (FY26).

Meeting Details

The notice was issued pursuant to Regulation 29 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations 2015. The disclosure was signed by Srinivasa Reddy Arikatla, Managing Director of Ajel Limited.

Agenda Items

• Finalize the date, time, and venue for convening the Annual General Meeting of the Members for the Year 2025-2026.
• Any other matter with the permission of the chair.

Ajel Limited operates from its registered office in Mumbai and maintains branches in Hyderabad, Bengaluru, Princeton, and San Francisco.

Ajel Limited reported a consolidated net profit of ₹4.54 lakh for the quarter ended June 30, 2026. This marks a shift from the net loss recorded in the preceding quarter. Standalone operations, however, posted a net loss of ₹8.98 lakh during the same period.

The Board of Directors approved the unaudited financial results for the quarter and half-year ended June 30, 2026, on August 20, 2026. The meeting was held at the corporate office in Hyderabad, Telangana. Statutory auditors GMK & Co LLP issued a limited review report with an unmodified opinion, highlighting critical disclosures regarding the balance sheet and compliance status.

Financial Performance

Consolidated revenue from operations rose to ₹365.60 lakh in Q1FY27, up from ₹326.28 lakh in the corresponding quarter of FY26. This growth contributed to the turnaround in profitability at the group level, where total expenses stood at ₹361.06 lakh. In contrast, standalone revenue was ₹111.76 lakh, against total expenses of ₹120.74 lakh, resulting in the aforementioned loss.

Other income remained at zero for both standalone and consolidated entities in the current quarter, whereas it contributed ₹32.86 lakh in the previous quarter. Employee benefit expenses decreased significantly in the consolidated structure, falling to ₹18.85 lakh from ₹44.96 lakh in Q4FY26.

What the Numbers Show

The divergence between standalone and consolidated results highlights the operational weight of the subsidiaries, Ajel Technologies India Private Limited and Ajel Technologies Inc. While the parent company continues to operate at a loss with expenses exceeding revenue by nearly ₹9 lakh, the group-level profitability suggests that subsidiary operations or intercompany adjustments are currently driving the positive bottom line. However, the absence of other income in Q1FY27, compared to the ₹32.86 lakh recorded in the prior quarter, indicates a reduction in non-operational gains that had previously supported total income figures.

Auditor Observations and Risks

The limited review report drew attention to several material matters that warrant investor scrutiny:

• Non-Performing Asset: A loan facility of ₹5 crore availed from Bank of Maharashtra during FY24 has been classified as a Non-Performing Asset (NPA) since October 8, 2024, due to non-repayment of principal and interest.
• Unpaid Dues: The company has not paid any tax or other regulatory statutory dues, including employee-related obligations, up to June 30, 2026. Management confirmation regarding payment status was unavailable to auditors.
• Receivables Verification: Auditors could not confirm the reasonableness of trade payables and receivables balances as requisite details were not provided.
• Investments: Listed equity investments worth ₹91.22 lakh (fair value as on March 31, 2026) were not measured at fair value for the current quarter, nor could physical or dematerialized share certificates be verified for majority holdings.
• Long-Term Advances: An amount of ₹85.96 lakh disclosed under "Other Long Term Loans & Advances" remains unrecovered, with no management information available on recoverability.