Artefact Projects held its 38th Annual General Meeting (AGM) on September 24, 2026, at its registered office in Nagpur. The meeting focused on the adoption of audited financial statements for the fiscal year ended March 31, 2026, and the reappointment of a director.

The session was chaired by Siddharth Shah, Whole Time Director. Key attendees included Ankita Shah, Non-Executive Women Director, and independent directors Kaustubh Paunikar and Priti Agrawal. Naresh Patadia represented the statutory auditors, M/s Naresh Patadia & Co. The meeting commenced at 11:30 am and concluded at 12:10 pm after a question-and-answer session where two shareholders raised queries regarding financial performance and future prospects.

Resolution details

The members voted on two ordinary resolutions through polling papers and remote e-voting. The items included the adoption of the annual report and the reappointment of a retiring director.

Remote e-voting facilities were provided via CDSL from September 21 to September 23, 2026. Jigar Gorsia, Practicing Company Secretary, served as the scrutinizer to ensure fair voting procedures.

Management commentary

During the address, Shah highlighted the company’s steady project execution and strong order book. He noted diversification into new sectors and strategic collaborations as key drivers. However, he also acknowledged challenges stemming from geopolitical uncertainties, rising input costs, and supply chain disruptions. The management reaffirmed its commitment to sustainable growth and long-term value creation.

The results of the voting, including the scrutinizer’s report, are scheduled to be declared within two working days, on or before September 26, 2026.

Artefact Projects has scheduled its 38th Annual General Meeting (AGM) for Thursday, September 24, 2026. The meeting will convene at 11:30 am at the company’s registered office in Nagpur to adopt the audited financial statements for FY26.

Financial Performance

Artefact Projects reported total income of ₹3,614.04 lakh for the fiscal year ended March 31, 2026, an increase from ₹3,392.26 lakh in FY25. Despite the revenue growth, Profit After Tax (PAT) declined to ₹522.61 lakh from ₹743.03 lakh in the previous year. Earnings Per Share (EPS) stood at ₹7.29.

The decline in profitability was driven by upfront mobilization costs for 13 new projects and a non-recurring write-off of Work-in-Progress (WIP) bills pending approval for over 18 months. Operating and administrative expenses rose significantly due to site mobilization and strategic salary revisions aligned with the New Labour Code.

Order Book and Outlook

The company maintains a substantial order book of approximately ₹338 crore, with ₹214 crore undertaken as Lead Consultant. Management highlighted steady project execution cycles and diversification into railway sectors and urban infrastructure. The Board did not recommend a dividend for FY26 to meet working capital needs.

Meeting Agenda

Shareholders will consider the adoption of the audited financial statements for the fiscal year ended March 31, 2026. The ordinary business also includes the reappointment of Mrs. Ankita Shah as a director. She retires by rotation and is eligible for re-election.

Mrs. Shah serves as a non-executive director with expertise in architectural design and infrastructure project management. She holds no equity shares in the company and drew no remuneration in the preceding period.

Voting Procedures

The company is facilitating remote e-voting through Central Depository Services (India) Limited (CDSL). The voting window opens on Monday, September 21, 2026, at 9:00 am and closes on Wednesday, September 23, 2026, at 5:00 pm.

Members holding shares as of the cut-off date can cast votes electronically. Those who vote remotely will not be eligible to vote again at the physical meeting venue. The register of members and share transfer books will remain closed from September 18, 2026, through September 24, 2026.