Amalgamated Electricity Company Limited received no-objection from BSE to reclassify seven promoter shareholders to the public category, reducing promoter holding by 2,496 shares. The reclassification, approved under Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, impacts 0.12% of the company's total share capital. The approval allows the promoters to transition their status, potentially altering the shareholding structure of the company.

The shareholders seeking reclassification include Veena M Dalal, Satyen Bhupendra Dalal, Milan Dalal, CIFCO Limited, Tropical Securities And Investments Pvt Ltd, Harbinger Trading Company Private Limited, and Pursarth Trading Company Pvt Ltd. The application for this change was submitted to the stock exchange on April 15, 2026. BSE granted the no-objection on June 2, 2026, confirming the compliance with regulatory requirements for the status change.

While the reclassification was approved, BSE issued a warning to the company regarding a delay in compliance. The exchange noted that the announcement regarding the material event was made on May 6, 2026, whereas regulations required disclosure within 24 hours of the application submission, or by April 16, 2026. BSE advised the company to exercise due diligence and initiate corrective measures to prevent future lapses.

The company has been instructed to ensure compliance with subsequent disclosures related to this reclassification. The no-objection letters and relevant details will be available on the company's official website. The reclassification process is now complete following the regulatory clearance.

Amalgamated Electricity Company Limited reported a net loss of ₹33.49 lakh for the financial year ended March 31, 2026, as total liabilities exceeded total assets by ₹72.77 lakh. The company's ability to continue as a going concern is dependent upon future operations and the availability of substantial financial support, according to the independent auditor's review report. The board approved the audited standalone financial results for the quarter and year ended March 31, 2026, during a meeting held on May 30, 2026.

The company reported a total income of ₹1.62 lakh for the year, compared to ₹1.31 lakh in the previous year. Total expenses for FY26 stood at ₹35.11 lakh, a significant increase compared to ₹11.20 lakh in FY25. For the quarter ended March 31, 2026, the company recorded a net loss of ₹8.04 lakh on a total income of ₹0.37 lakh. Basic and diluted earnings per share for the year were reported at -₹1.21, compared to -₹1.08 in the prior year.

Financial Results Summary

M/s. Vatsaraj & Co., Chartered Accountants, issued the audit report for Financial Year 2025-26 with an unmodified opinion. However, the independent auditor's review report highlighted a material uncertainty regarding the company's going concern status due to the negative net worth. The report noted that the company's total liabilities exceeded its total assets, raising doubts about its ability to continue operations without significant financial support.

The board appointed NKS & Associates, Chartered Accountants, Bengaluru, as internal auditors for conducting the internal audit for the financial year 2026-27. The meeting, which commenced at 3.00 p.m. and concluded at 4.00 p.m., was held pursuant to Regulation 30, 33, and Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.