Asia Pack Limited concluded its 41st Annual General Meeting on September 29, 2026, with members unanimously adopting the audited financial statements for FY26 and approving key board resolutions.

The meeting was held at the company's registered office in Rajsamand, Rajasthan. Pushpendra Jain, Director and Chief Financial Officer, served as the Chairman. He briefed shareholders on business operations, performance factors, and future prospects, noting that statutory auditors issued unqualified reports for the fiscal year ended March 31, 2026.

Resolutions Passed

Two ordinary resolutions were transacted during the session. The first involved the adoption of the audited financial statements and Board reports. The second addressed the retirement of Pushpendra Jain by rotation, with his subsequent reappointment as a director.

Voting and Compliance Details

The company facilitated remote e-voting through National Securities Depository Limited (NSDL) from September 25 to September 28, 2026. Members present who had not voted electronically cast their ballots via polling papers at the venue. Ramdev Singh Jetmal, Practising Company Secretary, served as the scrutinizer to ensure a fair voting process.

Voting results and the scrutinizer's report will be uploaded to the company website and submitted to BSE Limited. The meeting concluded at 11:33 am after addressing shareholder queries.

Voting Results Breakdown

The scrutinizer's report confirmed that both resolutions passed with 100% of the votes polled in favor. A total of 1,706,033 votes were cast across both resolutions, representing 64.69% of the total outstanding shares.

The promoter and promoter group held 1,467,990 shares, all of which were voted in favor via e-voting. Public non-institutional shareholders contributed 238,043 votes, also unanimously supporting both resolutions. No votes were cast against either resolution, and there were no invalid votes recorded.

Asia Pack will hold its 41st Annual General Meeting (AGM) on Tuesday, September 29, 2026, at its registered office in Nathdwara, Rajasthan. The register of members and share transfer books will remain closed from September 23 to September 29, 2026.

Shareholders holding shares as of the cut-off date, September 22, 2026, are eligible to vote. Remote e-voting is available from September 25 to September 28, 2026, via NSDL. The meeting agenda includes adopting the audited financial statements for FY26 and the reappointment of Director and CFO Pushpendra Jain.

Financial Performance

Asia Pack reported a 42.9% year-on-year decline in net profit to ₹23.28 lakh for the financial year ended March 31, 2026. The drop was primarily driven by a significant increase in deferred tax expenses, which offset operational improvements and higher other income.

The company's total income fell 10.4% to ₹97.10 lakh from ₹1,08.38 lakh in the previous year. Revenue from operations declined 11.1% to ₹18.94 lakh, reflecting lower rental income from its wholly owned commercial and residential properties. Rental income specifically dropped 19.2% to ₹16.26 lakh.

However, EBITDA expanded 16.2% to ₹49.67 lakh from ₹42.74 lakh, aided by a sharp reduction in operating expenses. Total expenses contracted 26.9% to ₹50.80 lakh from ₹69.51 lakh, largely due to a decrease in 'other expenses' from ₹37.19 lakh to ₹17.12 lakh.

What the Numbers Show

The divergence between rising EBITDA and falling net profit highlights the impact of non-operational accounting adjustments. While core operational efficiency improved with lower expenses, the bottom line was weighed down by a reversal of tax benefits. Deferred tax expense surged to ₹14.79 lakh compared to a benefit of ₹8.47 lakh in the prior year. This swing of over ₹23 lakh directly correlates with the decline in net profit, indicating that the company's profitability deterioration was driven by tax accounting rather than operational losses.

Balance Sheet and Corporate Actions

Total assets decreased marginally to ₹416.89 lakh from ₹411.51 lakh. Non-current assets declined significantly due to a reduction in investments and loans, while current assets rose slightly. The company maintains a debt-free balance sheet with no finance costs reported for the year.

The Board decided not to recommend any dividend for FY26. Shareholders will vote on the reappointment of Director and CFO Pushpendra Jain at the upcoming AGM. The Annual Report and AGM notice are available electronically for registered members, with physical letters dispatched to those without registered email addresses as per SEBI Listing Regulations.