Alka India Limited has filed its Thirty-Second Annual Report for the financial year ended March 31, 2026, with the stock exchanges. The company, which transitioned from the textile sector to agro-commodities following the approval of a resolution plan by the National Company Law Tribunal, reported a standalone net profit of ₹17.81 lakhs for FY26, compared to a net loss of ₹44.58 lakhs in the previous financial year. On a consolidated basis, the company reported a net profit of ₹18.27 lakhs against a net loss of ₹44.28 lakhs in FY25.

The Board of Directors has recommended a dividend of ₹0.04 per equity share of Re. 1 each for the financial year ended March 31, 2026, subject to shareholder approval at the upcoming Annual General Meeting. The company has fixed April 27, 2026, as the record date for determining dividend eligibility.

Financial Performance

The company's financial results for the year reflect its transition into agro-commodity trading. Revenue from operations stood at ₹250.21 lakhs, while total expenses were recorded at ₹232.40 lakhs on a standalone basis. The company reported no tax expense for the year, citing brought forward losses and unabsorbed depreciation.

Corporate Actions

To comply with the minimum public shareholding requirements mandated under SEBI regulations, the Board has proposed the issuance of bonus shares to public shareholders in the ratio of 6 new fully paid-up equity shares for every 1 existing equity share held. Promoters and promoter group members will forgo their entitlement to these bonus shares. The record date for the bonus issue has been fixed as May 8, 2026, subject to shareholder approval.

The company has also proposed amendments to its object clause to include ethanol production and metals, mining, and allied sectors. This expansion requires shareholder approval through a special resolution at the Annual General Meeting.

Governance and Meetings

The 32nd Annual General Meeting is scheduled to be held on Monday, May 4, 2026, at 11:00 A.M. through video conferencing. The meeting will transact ordinary business including the adoption of audited financial statements, declaration of dividend, and re-appointment of a director. Special business includes approval of the object clause amendment and the bonus share issue proposal.

The Board comprises five directors, including three independent directors, complying with SEBI Listing Regulations. During the year, the company underwent changes in board composition and key managerial personnel. The statutory auditors, M/s. J.M. Patel & Bros., issued a modified report with a disclaimer of opinion, citing unverified book profits and revenues, unverified bank balances, and other matters affecting the audit.

Alka India Limited has officially withdrawn its in-principle application for preferential issue of equity shares that was filed with BSE Limited on February 27, 2026. The company informed the stock exchange about this decision through a formal communication dated April 20, 2026, under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Board Decision and Original Proposal

The Board of Directors of Alka India Limited had initially considered and approved the "Raising of Funds by Preferential Issue of Equity Shares to Certain Identified Promoter/Non-Promoter Group" during their meeting held on February 27, 2026. This proposal was subject to various regulatory approvals, including SEBI regulations and shareholder approval at the Annual General Meeting.

Shareholder Approval and Application Timeline

The company had dispatched the Notice of Annual General Meeting along with Explanatory Statement on February 27, 2026, seeking shareholder approval for the preferential issue. On the same date, the company submitted its application to BSE Limited for "In-Principle Approval" under Regulation 28(1) of SEBI regulations.

Details of Withdrawn Preferential Issue

The withdrawn preferential issue comprised 23,66,37,112 equity shares, structured as follows:

• 45,00,000 equity shares through conversion of loan into equity
• 23,21,37,112 equity shares through swap of shares

Despite receiving shareholder approval during the Annual General Meeting held on March 23, 2026, where shareholders approved the issue of equity shares to certain identified promoter and non-promoter groups on preferential basis, the company has decided to withdraw the application.

Reason for Withdrawal and Company Assurance

The company cited "alternative considerations necessitating a reassessment of the Company's proposed fund-raising plans" as the reason for withdrawal. Management emphasized that this decision prioritizes shareholder interests and maintains financial stability.

Alka India Limited assured stakeholders that the withdrawal of the preferential allotment will not impact the company's financial stability, operations, or growth prospects. The company believes this decision serves the best interests of shareholders while safeguarding their investments and maintaining financial stability.

The communication was signed by Karnik Shasankan Pillai, Managing Director (DIN: 08529650), and the information has been made available on the company's website at www.alkaindia.in .