Alchemist Corporation Limited concluded its 33rd Annual General Meeting on September 29, 2026, approving eight agenda items including expanded borrowing powers and material related party transactions. The meeting marked a strategic shift as the company detailed its objective to strengthen presence in digital media and IT sectors following a change in control.

The proceedings were conducted via Video Conferencing under Regulation 30 of SEBI (LODR) Regulations, 2015. Mr. Akshay Chaturvedi, Non-Executive Non-Independent Director, chaired the session in the absence of Board Chairman Mr. Arjit Sachdeva. The statutory auditors' reports for standalone and consolidated financial statements for FY26 were adopted without qualification.

Key approvals granted by shareholders

Members voted on six special business items alongside two ordinary resolutions. The approvals focus on financial flexibility and corporate restructuring following the acquisition of a controlling equity stake by Wallet Circle Technologies Limited.

Strategic pivot to digital sectors

The Chairman briefed members on the company's business transformation, specifically highlighting the successful open offer process that resulted in Wallet Circle Technologies Limited acquiring a controlling equity stake. This ownership change aligns with Alchemist Corporation's stated objective to expand its footprint in digital media, advertising, and information technology sectors.

Mr. Arjit Sachdeva was re-appointed as a Director liable to retire by rotation. The meeting also addressed questions from registered speakers regarding the proposed related party transactions and the new strategic direction. Scrutinizer Mr. Saurabh Sinha oversaw the e-voting process, which was conducted through CDSL from September 26 to September 28, 2026.

Alchemist Corporation Limited reported a turnaround in its standalone results for the first quarter of FY27, posting a net profit of ₹0.75 lakh compared to a net loss of ₹7.03 lakh in the corresponding period of FY26. The company’s revenue from operations stood at ₹419.60 lakh, a significant increase from nil in Q1FY26.

However, the consolidated results presented a different picture. The group reported a net loss of ₹1.03 lakh for the quarter ended June 30, 2026, widening from a loss of ₹7.20 lakh in Q1FY25. This divergence is primarily attributable to the impact of non-controlling interests and higher other expenses in the consolidated structure.

Financial Performance

The Board of Directors approved the unaudited financial results on August 12, 2026. The key financial metrics for the quarter are detailed below:

Revenue from operations remained consistent between standalone and consolidated figures at ₹419.60 lakh. Other income contributed marginally at ₹0.42 lakh.

What the Numbers Show

A critical observation is the divergence between standalone profitability and consolidated losses. While the standalone entity generated a pre-tax profit of ₹0.90 lakh, the consolidated group incurred a pre-tax loss of ₹0.88 lakh. This discrepancy stems from higher "other expenses" in the consolidated statement (₹54.63 lakh) compared to the standalone figure (₹52.85 lakh), alongside the attribution of losses to non-controlling interests. The subsidiary, Kautilya Infotech Limited, contributed to this dynamic with a reported net loss of ₹1.78 lakh for the quarter.

Employee benefits expense constituted the largest cost component at ₹341.90 lakh, reflecting the labor-intensive nature of the operations. Finance costs rose slightly to ₹13.10 lakh from nil in the prior year quarter, indicating increased borrowing activity or interest accruals.

Auditor Review

Krishan Rakesh & Co., the independent auditors, issued a limited review report on the unaudited standalone and consolidated financial results. The auditors stated that nothing came to their attention to cause them to believe that the statements do not disclose the information required under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The report noted that Ind AS 116 (Leases) was applied to the company effective April 1, 2019, with no accounting adjustments made in the standalone financial statements for this period.