Ashima Ltd shareholders approve board appointments at 43rd AGM

Ashima Limited concluded its 43rd Annual General Meeting (AGM) on August 6, 2026, with shareholders approving key board appointments and adopting financial statements for the fiscal year ended March 31, 2026. The meeting, conducted through Video Conferencing (VC) / Other Audio Visual Means (OAVM), saw the reappointment of Chintan N. Parikh as Chairman and Managing Director and the appointment of Uttara Chintan Parikh as a Non-Executive Non-Independent Director.

The proceedings were presided over by Chintan N. Parikh, who welcomed members and confirmed the quorum. Jayesh Bhayani, Chief Financial Officer, recorded attendance and noted that all Board Members were present via VC/OAVM. The Statutory Auditor and Secretarial Auditor also attended the virtual meeting. In compliance with Section 108 of the Companies Act, 2013 and Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company facilitated remote e-voting from August 3 to August 5, 2026, with a cut-off date of July 30, 2026. Mr. Tapan Shah, Practising Company Secretary, served as the scrutinizer for the voting process.

Key Resolutions Passed

The AGM transacted five items of business, comprising ordinary and special resolutions. The detailed agenda items are outlined below:

Item No.	Agenda Item	Type of Resolution
1	Adoption of Audited Standalone and Consolidated Financial Statements for FY26	Ordinary
2	Reappointment of Chintan N. Parikh as Chairman and Managing Director	Ordinary
3	Appointment of Uttara Chintan Parikh as Non-Executive Non-Independent Director	Ordinary
4	Approval of remuneration for Uttara Chintan Parikh	Special
5	Approval of remuneration for Non-Executive Directors	Special

The Independent Auditors' Report on Financial Statements and the Secretarial Audit Report, forming part of the 43rd Annual Report for 2025-26, contained no qualifications or adverse remarks and were therefore not read out during the meeting. The consolidated results of the e-voting are scheduled to be declared within two working days and will be submitted to BSE Limited and the National Stock Exchange of India Ltd.

Management Outlook

During his address, Chintan N. Parikh provided an overview of the economic landscape and analyzed the company's financial performance for FY25-26, including its real estate and investment activities. He briefed shareholders on projects within the Real Estate Division and shared the management's outlook for future growth. The session concluded with a Question and Answer segment where members raised queries addressed by the Chairman. The AGM commenced at 11:30 a.m. and concluded at 11:59 a.m.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+1.29%	-0.82%	+25.02%	+6.31%	-28.07%	-6.29%

Ashima Limited returned to profitability in the quarter ended June 30, 2026, reporting a consolidated net profit of ₹193 lakh. This marks a significant turnaround from the net loss of ₹694 lakh posted in the corresponding quarter of the previous year. The company's revenue from operations for the quarter stood at ₹833 lakh, a sharp increase from ₹277 lakh in the same period last year, driven largely by strong performance in its Investment segment.

On a standalone basis, the company recorded a net profit of ₹133 lakh for Q1FY27, compared to a net loss of ₹281 lakh in the quarter ended June 30, 2025. Standalone revenue from operations increased to ₹774 lakh from ₹244 lakh in the prior year quarter. The Board of Directors approved the unaudited financial results for the period at its meeting held on July 18, 2026.

The financial performance was bolstered by the Investment segment, which reported a segment revenue of ₹516 lakh in the consolidated results, up from ₹244 lakh in the previous year. The Real Estate segment contributed ₹258 lakh to the revenue. The company's total consolidated income for the quarter was ₹1,009 lakh, while total expenses were ₹756 lakh.

Segment Performance

The company operates across reportable segments including Real Estate, Investment, and Investment Management & Advisory Services. The Investment segment was the primary driver of profitability, while the Real Estate segment reported a loss before interest and tax of ₹67 lakh in the consolidated results for the quarter.

Segment	Revenue (₹ in Lacs)	Profit/(Loss) Before Interest & Tax (₹ in Lacs)
Real Estate	258	(67)
Investment	516	512
Investment Management & Advisory Services	59	56
Others	-	(2)
Total	833	499

The results also include figures from discontinued operations related to cotton textile operations, which were discontinued in the financial year 2024-25. The loss from discontinued operations for the quarter was ₹50 lakh on a consolidated basis.

Financial Review

The company's earnings per share (EPS) for the consolidated entity improved to ₹0.10 for the quarter from a loss of ₹0.13 in the previous year. The basic and diluted EPS for continuing operations was ₹0.13. The statutory auditors, M/s Mukesh M. Shah & Co., provided a limited review report confirming that nothing came to their attention that would suggest the financial statements contained material misstatements.

The paid-up share capital of the company remained unchanged at ₹19,166 lakh. The financial results were prepared in accordance with the Indian Accounting Standards (Ind AS) and reviewed by the Audit Committee prior to Board approval.