Asian Warehousing Limited held its 14th Annual General Meeting on September 21, 2026. Shareholders approved the adoption of audited financial statements for FY26 and the re-appointment of Bhavik Bhimjyani as Chairman & Managing Director.

The meeting was conducted via video conferencing in compliance with SEBI and Ministry of Corporate Affairs guidelines. A total of 29 members attended to transact business outlined in the notice dated August 24, 2026.

Key Resolutions Passed

The following resolutions were put to vote and approved by the shareholders:

Meeting Proceedings

Bhavik Bhimjyani, Chairman & Managing Director, presided over the meeting. He confirmed that the requisite quorum was present and that the Statutory and Secretarial Audit Reports contained no qualifications or adverse remarks.

Remote e-voting facilities were provided through NSDL, with CS Hemanshu Upadhyay of M/s HRU & Associates appointed as Scrutinizer. The e-voting window remained open for 15 minutes during the session.

Board and Attendees

The following directors were present:

• Bhavik Bhimjyani (Chairman & Managing Director)
• Asha Yogesh Dawda (Non-Executive, Woman Director)
• Sangeeta Vijay Kumar (Independent, Non-Executive Director)
• Yogesh Jayantilal Thakkar (Independent, Non-Executive Director)

Other attendees included CFO Vishnu Singh, Company Secretary Sony Pavan, Statutory Auditor CA Mebul Sheth, and Secretarial Auditor CS Hemanshu Upadhyay.

Asian Warehousing Limited filed its 14th Annual Report for the financial year ended March 31, 2026, disclosing a net profit of ₹23.36 lakh compared to ₹5.99 lakh in the previous year. The company reported revenue from operations of ₹179.10 lakh, down from ₹212.60 lakh in FY25, as it discontinued its agricultural trading business to focus exclusively on warehousing services.

The Board approved the reappointment of Bhavik Bhimjyani as Chairman and Managing Director for a three-year term starting February 25, 2027, with a monthly remuneration of ₹5,00,000. Additionally, shareholders will approve a related-party transaction involving the remuneration of Chief Financial Officer Vishnu Singh, capped at ₹28.20 lakh per annum for FY27.

Financial Performance

Revenue from operations declined to ₹179.10 lakh in FY26 from ₹212.60 lakh in FY25. This decrease was driven by the cessation of goods trading, which fell to ₹1.00 lakh from ₹94.17 lakh. Conversely, service revenue rose to ₹174.11 lakh from ₹114.68 lakh, reflecting the strategic pivot toward core warehousing activities. Total expenses dropped significantly to ₹164.25 lakh from ₹232.49 lakh, primarily due to lower operating costs and the absence of stock-in-trade purchases.

Profit before tax stood at ₹16.48 lakh, improving from a loss of ₹18.84 lakh in the prior year. The improvement was largely attributable to reduced operating expenses and a lower provision for expected credit losses, offset by a bad debt write-off of ₹17.11 lakh.

Leadership and Governance

Bhavik Bhimjyani will serve as Chairman and Managing Director from February 25, 2027, to February 24, 2030. His appointment requires shareholder approval at the upcoming AGM scheduled for September 21, 2026. The Board also approved the remuneration structure for CFO Vishnu Singh, who joined on April 23, 2026, succeeding Vivek Ambawale who resigned in April 2026.

The Board comprises four directors: Bhavik Bhimjyani (CMD), Asha Yogesh Dawda (Woman Non-Executive Director), Yogesh Jayantilal Thakkar (Independent Non-Executive Director), and Sangeeta Vijay Kumar (Independent Non-Executive Director). Sony Pavanan serves as Company Secretary and Compliance Officer.

Annual General Meeting Details

The 14th Annual General Meeting is scheduled for Monday, September 21, 2026, at 10:00 am via Video Conferencing. Key dates for shareholders include:

CS Hemanshu Upadhyay has been appointed as Scrutinizer for the e-voting process. The meeting agenda includes adopting audited financial statements, reappointing the CMD, and approving the CFO's remuneration as a material related-party transaction.

What the Numbers Show

The shift from trading to services has fundamentally altered the company's cost structure. While revenue declined by approximately 15%, total expenses fell by nearly 30%, leading to a nearly threefold increase in net profit. This indicates that the warehousing service model offers higher margin stability compared to the previously discontinued agricultural trading segment, despite lower top-line growth.