Athena Constructions has secured a two-month extension from the Registrar of Companies (ROC) to hold its Annual General Meeting (AGM) for the financial year ended March 31, 2026. The new deadline for the meeting is November 30, 2026.

The company had filed an application under Section 96 of the Companies Act, 2013, seeking relief from the statutory requirement to hold the AGM by September 30, 2026. The ROC Mumbai I granted this extension via an order dated September 26, 2026, citing the circumstances presented by the company in its e-form application.

Regulatory compliance and timeline

The extension was processed following an application submitted on September 21, 2026. The ROC order explicitly advises the company to exercise greater caution in future compliance with the provisions of the Companies Act, 2013. This advisory highlights the regulatory scrutiny associated with seeking extensions beyond the standard timeline.

Next steps for shareholders

The Board of Directors will finalize the specific date, time, and venue or mode of the upcoming AGM. Athena Constructions stated that these details will be communicated to the stock exchanges separately in due course. Shareholders should monitor official disclosures for the final scheduling of the meeting.

What the numbers show

The gap between the application date (September 21, 2026) and the original deadline (September 30, 2026) indicates a narrow window of nine days for regulatory review before the statutory limit expired. The approval was granted just four days prior to the original deadline, suggesting the process was completed efficiently but close to the cutoff. The two-month extension provides a buffer of approximately 61 days from the original deadline, allowing the company additional time to finalize accounts and logistics without violating Section 96 provisions.

Athena Constructions Limited narrowed its net loss to ₹67.38 lakh for the financial year ended March 31, 2026, compared to a net loss of ₹74.27 lakh in the previous year. The company reported zero revenue from operations for the year, while total expenditure decreased to ₹36.14 lakh from ₹38.22 lakh in FY25. The Board of Directors approved the standalone audited financial results at a meeting held on May 28, 2026.

The company’s financial performance for the year reflects a continued absence of operational income. Total expenditure for FY26 stood at ₹36.14 lakh, down from ₹38.22 lakh in the preceding year. Employee benefit expenses for the year rose to ₹24.19 lakh from ₹16.71 lakh, while depreciation and amortisation expenses increased to ₹0.68 lakh from ₹0.40 lakh. Other expenses were reported at ₹11.26 lakh, a decrease from ₹21.11 lakh in the previous year.

Finance costs for the year amounted to ₹31.24 lakh, lower than the ₹36.53 lakh recorded in FY25. The profit before tax for the year was a loss of ₹67.38 lakh, compared to a loss of ₹74.28 lakh in the previous year. The basic and diluted earnings per share (EPS) for the year improved to a loss of ₹0.90 from a loss of ₹0.99 in the prior year.

The balance sheet as of March 31, 2026, shows total assets of ₹1,695.24 lakh, a decrease from ₹2,056.89 lakh in the previous year. Shareholders' funds stood at ₹585.15 lakh, comprising share capital of ₹750.00 lakh and reserves and surplus of negative ₹164.85 lakh. Non-current liabilities included long-term borrowings of ₹323.03 lakh. Current liabilities included trade payables of ₹23.28 lakh and other current liabilities of ₹763.78 lakh.

The cash flow statement for the year indicates a net increase in cash and cash equivalents of ₹8.62 lakh, bringing the closing balance to ₹9.08 lakh. Cash used in operating activities was ₹73.74 lakh, while cash generated from investing activities was ₹125.36 lakh. Financing activities resulted in a net cash outflow of ₹42.99 lakh. The statutory auditors, M/s JMT & Associates, issued an unmodified opinion on the standalone financial results.

Financial Results for FY26