Athena Constructions Limited has announced that its board of directors will meet on Thursday, May 28, 2026, to consider and adopt the audited financial accounts for the financial year ended March 31, 2026. The meeting is scheduled to take place at 05:00 P.M. at the company's registered office.

The primary agenda for the board meeting includes the approval of the Audited Standalone Financial Results for the financial year 2025-26. Alongside the financial results, the board will consider the Statement of Assets and Liabilities and the Cash Flow Statement for the same period. The directors will also review the Audit Report, which carries an unmodified opinion from the statutory auditors.

In compliance with regulatory provisions, the company has stated that the trading window for dealing in the securities of the company by designated persons is currently closed. This closure is in accordance with the SEBI (Prohibition of Insider Trading) Regulations, 2015, and the company's internal Code of Conduct. The window is scheduled to reopen 48 hours after the declaration of the financial results.

The intimation regarding the board meeting was submitted to BSE Limited on May 22, 2026, under Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key Meeting Details

Athena Constructions Limited announced its unaudited financial results for the six months ended September 30, 2025, revealing continued operational challenges with a net loss of ₹36.47 crores. The Board of Directors approved these results at their meeting held on November 14, 2025, following review by the audit committee and certification by statutory auditors.

Financial Performance Overview

The company's financial performance for H1 FY26 showed deterioration compared to the previous year, with key metrics highlighting operational difficulties:

Expenditure Breakdown

The company's expenditure structure for H1 FY26 comprised several components, with employee benefit expenses forming the largest portion:

The significant increase in other expenses by 68.84% contributed substantially to the higher total expenditure, despite a reduction in employee benefit expenses.

Balance Sheet Position

As of September 30, 2025, the company's financial position showed mixed indicators:

The company maintained its paid-up equity share capital at ₹750.00 crores with a face value of ₹10 per share. However, reserves and surplus deteriorated further to negative ₹133.95 crores from negative ₹59.01 crores in the previous year.

Cash Flow Analysis

The cash flow statement for H1 FY26 revealed significant operational challenges:

• Operating Activities: Net cash used was ₹473.74 crores, compared to cash generation of ₹41.64 crores in FY25
• Investing Activities: Generated ₹109.35 crores, primarily from long-term loans and advances
• Financing Activities: Generated ₹367.80 crores, mainly from long-term borrowings of ₹352.18 crores

The company's finance costs remained substantial at ₹15.62 crores for H1 FY26, though lower than ₹17.93 crores in H1 FY25.

Corporate Governance

The financial results were approved by the Board of Directors at their meeting held on November 14, 2025, which commenced at 4:00 PM and concluded at 4:30 PM. Mr. Ravi Kant Rathi, Director (DIN: 00862459), was authorized to sign the financial results on behalf of the Board. The results were reviewed by JMT & Associates, Chartered Accountants, who provided a clean review report confirming compliance with applicable accounting standards and SEBI regulations.