Aviva Industries has scheduled a board meeting for September 2, 2026, to consider shifting its registered office from Maharashtra to Gujarat. The session will also approve the agenda for the upcoming Annual General Meeting (AGM).

The company issued the intimation under Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The meeting is set to take place at the company's registered office.

Key Agenda Items

The Board of Directors will transact the following business during the session:

• Approve the date, time, venue, and agenda for the forthcoming AGM, along with the notice convening the meeting.
• Consider the proposal to shift the registered office from the State of Maharashtra to the State of Gujarat. This move is subject to member approval and necessary compliances under the Companies Act, 2013.
• Approve the Directors' Report for the Financial Year 2025-26, including necessary annexures.
• Address any other matter with the permission of the Chair.

The proceedings will adhere to the applicable provisions of the Companies Act, 2013, and other relevant laws. Bharvin Patel Sureshbhai, Managing Director, signed the communication dated August 27, 2026.

Aviva Industries has published its unaudited standalone financial results for the quarter ended June 30, 2026 (Q1FY27), in compliance with regulatory disclosure norms. The results were published in Financial Express (English edition) and Mumbai Lakshadweep (Marathi edition) on August 13, 2026. This publication fulfills the requirements under Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The Board of Directors had previously approved these unaudited financial results on August 11, 2026. The approval was made in accordance with Regulation 30 and Regulation 33 of the SEBI (LODR) Regulations, 2015. The financial statements were prepared following Indian Accounting Standards (Ind AS) notified under section 133 of the Companies Act, 2013.

Financial Performance Recap

For the quarter ended June 30, 2026, the company reported a standalone net profit of ₹60.36 lakh, a decline of 35% from the ₹92.83 lakh profit recorded in the preceding quarter (Q4FY26). However, this marks a return to profitability from a loss of ₹11.22 lakh in the same period last year (Q1FY26).

During the quarter, the company converted 79,95,000 warrants into equity shares, raising ₹22.39 crore comprising face value and a share premium of ₹18.00 per share. Consequently, paid-up equity share capital increased to ₹3249.90 lakh from ₹2450.40 lakh in the prior quarter.

Auditor Concerns and Monitoring Gaps

Statutory auditors S K Bhavsar & Co issued a review report highlighting significant limitations in their verification process. Key issues included:

• Fund Utilization: The auditors could not verify the end-utilization of the ₹22.39 crore raised through warrant conversion due to unavailability of sales and purchase invoices for full verification.
• Inventory Verification: Physical stock/inventory as of June 30, 2026, could not be verified, and no Management Representation Letter confirming its existence was furnished.
• Undocumented Advances: The company provided interest-free advances aggregating ₹26.10 crore during the quarter without supporting documentation. Auditors expressed an inability to comment on the recoverability and business rationale of these advances.
• Receivables and Payables: Confirmations for certain trade receivable and payable balances could not be obtained due to inadequate alternative procedures.

What the Numbers Show

The divergence between the substantial capital raise of ₹22.39 crore and the simultaneous extension of ₹26.10 crore in undocumented interest-free advances raises questions about working capital management. While revenue declined by approximately 39% quarter-on-quarter, the company maintained profitability, albeit at reduced levels. The inability of statutory auditors to verify core assets like inventory and receivables suggests a disconnect between reported financial health and verifiable operational data, warranting close scrutiny by investors regarding the quality of earnings and asset security.