Ashram Online.com Limited shareholders approved the appointment of three new directors at its 35th Annual General Meeting on August 25, 2026. The resolutions passed with unanimous support from all voting members.

The meeting, conducted via Video Conferencing or Other Audio-Visual Means (VC/OAVM), saw participation from 44 members representing 43,71,742 shares. Sangita Tatia, Chairman and Whole Time Director, chaired the session. E-voting results were scrutinized by M/s. Lakshmi Subramanian & Associates.

Director Appointments

The board secured shareholder approval for three new director appointments:

• Mr. Bharat Jain Tatia as a Non-Executive, Non-Independent Director
• Mr. Madhavan Ganesan as an Independent Director
• Mr. Sriram Karpakavenkatraman as an Independent Director

Mr. Tatia, who holds a 7.50% stake in the company, brings over three decades of experience in export and capital markets. He is liable to retire by rotation. Mr. Ganesan and Mr. Karpakavenkatraman will serve five-year terms starting April 1, 2027.

Other Resolutions

Shareholders also approved the audited financial statements for FY26 and the Board’s Report. Mrs. Sangita Tatia was re-appointed as a director after retiring by rotation.

A material related party transaction involving borrowing, lending, and lease rentals was approved. This resolution received support from 36 members representing 12,08,311 shares.

Voting Details

All resolutions were passed with full support. The remote e-voting period ran from August 22 to August 24, 2026.

Ashram Online.com company name reported a net loss of ₹12.92 lakhs for the financial year ended March 31, 2026, widening significantly from the net loss of ₹6.99 lakhs recorded in the prior year. The deterioration in profitability was primarily driven by a sharp rise in interest and finance charges, which jumped to ₹21.43 lakhs from ₹0.62 lakhs in the previous period, eroding operating gains despite an increase in total income.

The company’s total income grew to ₹101.13 lakhs from ₹69.57 lakhs in the preceding year, largely fueled by non-operating income which surged to ₹52.85 lakhs from ₹34.18 lakhs. However, operational revenue remained modest at ₹48.28 lakhs, up from ₹35.40 lakhs. Total expenditure stood at ₹88.80 lakhs, compared to ₹73.38 lakhs previously. The Board of Directors has not declared any dividend for the year due to the incurred losses.

A significant portion of the company’s financial activity involves related-party transactions. During FY26, the company granted loans aggregating to ₹396.96 lakhs exclusively to related parties, including entities where key managerial personnel exercise significant influence. These transactions include lending and borrowing arrangements with Kreon Finnancial Services Limited, Opti Products Private Limited, and Tatia Global Vennture Limited, carrying interest rates of 12% per annum. Additionally, borrowings from Whole-time Director Mrs. Sangita Tatia and Director Mr. Bharat Jain Tatia carry an interest rate of 6% per annum.

The annual report highlights a transition in leadership following the demise of Founder Director Mr. Tatia Jain Pannalal Sampathlal on April 29, 2026. Consequent to this vacancy, Mr. Bharat Jain Tatia was appointed as an Additional Director on May 27, 2026. The company is also seeking shareholder approval for the appointment of two new independent directors, Mr. Madhavan Ganesan and Mr. Sriram Karpakavenkatraman, for terms commencing April 1, 2027.

Financial Performance Overview

Related Party Transactions

The company seeks approval for material related party transactions involving lending and borrowing over a three-year period from August 25, 2026, to August 24, 2029. The maximum aggregate value for lending to Kreon Finnancial Services Limited, Opti Products Private Limited, and Tatia Global Vennture Limited is set at ₹50 crore each, with borrowing limits at ₹10 crore each. Borrowings from Mrs. Sangita Tatia and Mr. Bharat Jain Tatia are capped at ₹5 crore each.

Corporate Governance Changes

In addition to the appointment of Mr. Bharat Jain Tatia, the company is reappointing Mrs. Sangita Tatia as a director retiring by rotation. The tenure of existing independent directors expires on March 31, 2027. The proposed new independent directors, Mr. Madhavan Ganesan and Mr. Sriram Karpakavenkatraman, will serve five-year terms starting April 1, 2027. The statutory auditors, M/s. Darpan & Associates, have issued an unmodified opinion on the financial statements, though they noted a qualification regarding a case pending with the Honorable High Court of Madras.