AVI Products India Limited secured shareholder approval for 13 resolutions through a postal ballot, authorizing key governance changes and financial flexibility. The company sought approval to increase its overall borrowing limits to ₹100 crore and to create charges on assets to secure borrowings. Shareholders also authorized the Board to provide loans, guarantees, and securities under Sections 185 and 186 of the Companies Act, 2013, up to ₹100 crore.

Board and Governance Changes

The postal ballot results confirmed the regularization of six additional directors appointed on April 23, 2026. Mr. Parthh K Mehta was appointed as Executive Director and Chairman, while Mr. Ameya Vivek Tandulkar was appointed as Executive Director. Mr. Bankim Pranjivan Mehta was regularized as a Non-Executive Director. Additionally, Ms. Malvika Jagani, Mr. Dayashankar Patel, and Mr. Aditya Soni were appointed as Independent Directors. All director appointments are for a term of five years ending April 22, 2031.

Related Party Transactions

Shareholders approved material related party transactions with 45 entities for the financial year 2026-2027. The transactions, which include real estate activities, consultancy services, and investments, are valued at ₹25 crore per entity. Notable related parties include Paradigm Realty Private Limited, PPMS Real Estates LLP, and various entities where Mr. Parthh K Mehta and Mr. Ameya Vivek Tandulkar are partners or directors. The approval is valid until the date of the next general meeting.

Voting Details

The e-voting process, conducted by MUFG Intime India Pvt. Ltd., was open from April 29, 2026, to May 28, 2026. Out of 13,915 shareholders, 66 participated, representing 2,002,886 shares. For the special resolutions regarding borrowing limits and director appointments, 99.9979% of votes were cast in favor. The ordinary resolution for related party transactions received 99.8768% approval, with promoter group shares abstaining as interested parties. The scrutinizer, Aparna Tripathi & Associates, confirmed the results on May 30, 2026.

The company also approved the alteration of the object clause in its Memorandum of Association and the shifting of its registered office from Vasai (East) to Mumbai, effective April 23, 2026.

AVI Products India Limited reported a net loss for the financial year ended March 31, 2026, as total assets declined significantly to ₹523.51 lakh from ₹799.48 lakh in the previous year. The company's board approved the standalone audited financial results for the quarter and year ended March 31, 2026, during a meeting held on May 30, 2026. The statutory auditors, SARA & Associates, issued an unmodified opinion on the results, confirming compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The financial statements reveal a challenging year for the company, with a profit before tax of (₹192.45) lakh compared to ₹7.18 lakh in the prior year. Cash and cash equivalents dropped to ₹3.37 lakh as of March 31, 2026, down from ₹319.00 lakh at the beginning of the period. The board decided not to declare a dividend for the financial year 2025-2026.

Financial Performance

The company's balance sheet shows a reduction in both current and non-current assets. Non-current assets fell to ₹16.39 lakh from ₹143.09 lakh, driven primarily by a decrease in property, plant, and equipment to ₹14.59 lakh. Current assets also decreased to ₹507.12 lakh from ₹656.39 lakh, with inventories reducing to ₹123.22 lakh and trade receivables to ₹20.34 lakh.

Cash Flow Analysis

The cash flow statement highlights a net decrease in cash and cash equivalents of ₹315.63 lakh for the year. Net cash generated by operating activities was negative at (₹311.25) lakh, while investing activities provided a net inflow of ₹81.93 lakh, largely due to the sale of property, plant, and equipment. Financing activities resulted in a net outflow of ₹86.31 lakh, primarily from the repayment of short-term borrowings amounting to ₹81.00 lakh.

Regulatory Disclosures

In a separate filing, AVI Products India Limited confirmed that Regulation 32(1) of the SEBI LODR Regulations, 2015, is not applicable as the company did not raise funds through public issue, rights issue, preferential issue, or QIP during the year. Additionally, the company declared it is not identified as a "Large Corporate" as of March 31, 2026, under the SEBI circular dated August 10, 2021, regarding fundraising by issuance of debt securities. Outstanding qualified borrowings at the start and end of the financial year were nil.