Ajwa Fun World & Resort held its 34th Annual General Meeting on August 29, 2026, to approve key governance resolutions including director appointments and financial statements.

The meeting, chaired by Chairman Rajeshkumar Chunilal Jain, commenced at 3:00 pm via video conferencing. Company Secretary Kosha Anilbhai Shah managed the proceedings, which concluded at 3:14 pm following the completion of all agenda items.

Governance Resolutions

Members approved several ordinary and special business items during the session. The key decisions included:

Dipak Bhagwatilal Nagarwala retires by rotation and offered himself for re-appointment. Santukumar Pranlal Lalani was regularized as an additional director by appointing him as an independent director.

Procedural Details

The company complied with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. E-voting remained open for 15 minutes after the live session concluded. Detailed voting results will be submitted separately under Regulation 44(3).

The Board thanked directors, auditors, and members for their participation. No financial performance metrics were disclosed in the proceedings summary.

Ajwa Fun World & Resort Ltd reported a net profit after tax (PAT) of ₹4,924.39 lakh for the financial year ended March 31, 2026 (FY26), compared to ₹29.92 lakh in FY25. The significant increase was driven by an exceptional item gain of ₹5,431.41 lakh arising from the sale of immovable property and discontinuation of its entertainment park business. The company generated zero revenue from operations in FY26, down from ₹270.24 lakh in FY25, as it formally closed its amusement park activities to optimize its asset portfolio. Shareholders will vote on these results and key governance matters at the 34th Annual General Meeting (AGM) scheduled for August 29, 2026.

The Board of Directors convened on August 4, 2026, to approve the convening of the AGM via Video Conferencing (VC) or Other Audio-Visual Means (OAVM), in compliance with Ministry of Corporate Affairs (MCA) circulars valid until September 30, 2026. The Register of Members and Share Transfer Books will remain closed from August 23, 2026, to August 29, 2026. Remote e-voting facilities, managed by National Securities Depository Limited (NSDL), will be available from August 26, 2026, at 09:00 A.M. to August 28, 2026, at 05:00 P.M.

Financial Performance and Asset Restructuring

The company’s operational pivot resulted in a complete cessation of core business revenues. While total income stood at ₹61.67 lakh (primarily other income), total expenses were ₹88.67 lakh, leading to a loss before exceptional items of ₹26.99 lakh. The subsequent exceptional gain of ₹5,431.41 lakh transformed this into a profit before tax of ₹5,404.42 lakh. After providing ₹480.04 lakh for tax, the final PAT reached ₹4,924.39 lakh. Earnings Per Share (EPS) surged to ₹77.06 from ₹0.47 in the previous year.

The auditor’s report highlights that the company has sold out its entertainment park land and scrapped majority of buildings, plant, and machinery. Proceeds from these sales are being utilized for repayment of borrowings, capital expenditure, and business diversification. Long-term borrowings decreased significantly to ₹1.81 lakh from ₹431.49 lakh in FY25, indicating substantial debt reduction.

Governance and Director Appointments

The AGM agenda includes the re-appointment of Mr. Dipak Bhagwatilal Nagarwala (DIN: 10299569), who retires by rotation. Additionally, shareholders will regularize the appointment of Mr. Santukumar Pranlal Lalani (DIN: 11423965) as an Independent Director for five consecutive years, subject to SEBI Listing Regulations. He was initially appointed as an Additional Director on January 12, 2026.

The Board also seeks approval for the re-appointment of S P V P & Co LLP, Chartered Accountants (FRN: 111660W/W101148), as Statutory Auditors. This resolution notes the conversion of the firm from M/s. SPVP & Co. to an LLP structure, which does not impact their ongoing tenure. M/s. V. N. Vasani & Associates has been appointed as the Scrutinizer for the e-voting process.

What the Numbers Show

The financial data reveals a company in transition rather than organic growth. The near-total reliance on exceptional gains for profitability underscores the strategic exit from the amusement park sector. With zero operational revenue and minimal employee benefit expenses (₹47.80 lakh vs ₹70.06 lakh in FY25), the entity is effectively winding down its legacy operations. The strong cash position, reflected in current assets of ₹1,618.02 lakh against current liabilities of ₹650.68 lakh, provides liquidity for future diversification plans mentioned by management.