AVI Products India Limited reported a net loss of ₹19,427 thousand for the financial year ended March 31, 2026, a sharp reversal from a net profit of ₹537 thousand in FY25, as total income fell to ₹14,008 thousand from ₹49,674 thousand.

The company has scheduled its 37th Annual General Meeting (AGM) for September 24, 2026 at 12:15 PM (IST) through Video Conferencing/Other Audio Visual Means (VC/OAVM). Remote e-voting opens on September 21, 2026 at 9:00 AM and closes on September 23, 2026 at 5:00 PM. The deemed venue for the AGM is the company's registered office at 201 Nivan CTS No. E/751, S.V. Road, Khar West, Mumbai 400052.

Financial performance: FY26 vs FY25

The company's financial performance deteriorated significantly during FY26, driven by a steep decline in revenue from operations and elevated expenditure. The following table summarises key financial metrics.

Sale of goods declined to ₹11,795 thousand in FY26 from ₹47,080 thousand in FY25. Other income stood at ₹2,213 thousand, compared to ₹2,594 thousand in the previous year. Total expenditure of ₹33,253 thousand exceeded total income of ₹14,008 thousand, resulting in a pre-tax loss of ₹19,245 thousand. The company incurred cash losses of ₹147.17 lakhs during the financial year. The Board has not recommended any dividend for FY26.

Key financial ratios

Several key financial ratios showed significant movement during FY26, reflecting the impact of lower revenues and losses incurred during the year.

The current ratio rose sharply to 82.45 from 7.30, attributed to a decrease in current financial liabilities, including the full repayment of secured borrowings of ₹8,100 thousand. The debt-equity ratio fell to nil from 0.11 as borrowings were cleared.

AGM agenda and key resolutions

The AGM will consider the following ordinary and special business items.

Ordinary business:

• Adoption of audited standalone financial statements for FY26
• Re-appointment of Mr. Vikram Avinash Vora (DIN: 02454043) as director liable to retire by rotation

Special business:

• Appointment of M/s S A R A & Associates, Chartered Accountants (Firm Registration No. 120927W) as statutory auditors for a term of 5 years from the conclusion of the 37th AGM to the conclusion of the 41st AGM, at a remuneration of ₹1.5 Lakhs plus applicable taxes for FY26
• Appointment of M/s Pooja Gala & Associates as secretarial auditors for a term of 5 years from FY26 to FY30, at a remuneration not exceeding ₹1,00,000 per annum excluding applicable GST
• Re-designation of Mr. Avinash Dhirajlal Vora (DIN: 02454059) from Managing Director to Executive Director for a period of 5 years from August 5, 2026 to August 4, 2031
• Re-designation of Mr. Parthh Kaushik Mehta (DIN: 05251177) as Chairman & Managing Director for a period of 5 years from August 5, 2026 to August 4, 2031, with a salary of ₹5,00,000 per month
• Sale of a company-owned car to Mr. Avinash Dhirajlal Vora at a total consideration not exceeding INR 5,23,660, valued as per Insured Declared Value (IDV)

Change in management and ownership

PPMS Real Estates LLP (Acquirer) entered into a Share Purchase Agreement dated February 14, 2026 with the existing promoters for the transfer of 7,83,091 equity shares representing 23.68% of the paid-up equity share capital, at a consideration of INR 33.00 per equity share, aggregating to INR 2,58,42,003. The acquirer also acquired 4,69,710 equity shares (14.20% of voting share capital) from non-promoter sellers. The acquirer made an open offer for up to 8,59,769 equity shares representing 26% of the voting share capital at ₹33.00 per equity share, aggregating to a total consideration of ₹2,83,72,377. The open offer opened on May 13, 2026 and closed on May 26, 2026. Following the change in control, the company changed its object clause through a Postal Ballot dated May 28, 2026, with the new management intending to pursue real estate business activities.

Balance sheet and share capital

The issued, subscribed and paid-up equity share capital as at March 31, 2026 stood at ₹33,068 thousand (33,06,802 equity shares of ₹10 each), unchanged from the previous year. Total equity declined to ₹51,535 thousand from ₹70,961 thousand, reflecting the net loss for the year. Total assets stood at ₹52,351 thousand as at March 31, 2026, compared to ₹79,948 thousand as at March 31, 2025. The company had no outstanding borrowings as at March 31, 2026, against ₹8,100 thousand in the previous year.

Foreign currency expenditure on import purchases amounted to ₹4,010.38 thousand in FY26, compared to ₹10,441.77 thousand in FY25. The company had 2 employees on its rolls as at March 31, 2026.

AVI Products India Limited (BSE: APIL) has scheduled a meeting of its Board of Directors for Monday, August 24, 2026. The primary objective of the gathering is to finalize the logistics for the company’s upcoming Annual General Meeting (AGM) for the financial year 2025-2026.

The Board intends to fix the day, date, and time for the AGM. Additionally, directors will determine the book closure period required to establish the list of shareholders eligible to vote and receive dividends.

Agenda Details

Pursuant to Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board will address the following key items:

• Approve the Notice of Annual General Meeting, including the Board’s Report and all associated documents for the financial year ended March 31, 2026.
• Appoint a scrutinizer to oversee the e-voting process during the AGM.
• Consider any other matters with the permission of the Chair.

The intimation was issued on August 17, 2026, by Ameya Tandulkar, Director of AVI Products India Limited.