Bharatam Ventures Limited has convened its 41st Annual General Meeting for September 16, 2026, to seek shareholder approval for a preferential issue of convertible warrants aggregating up to ₹40 crore. The meeting will also address the shifting of the registered office from Mumbai to Pune and the appointment of new directors.

The company reported a standalone net loss of ₹1,396.99 lakh for FY26, compared to a profit of ₹14.53 lakh in the previous year. Revenue from operations rose significantly to ₹2,371.98 lakh from ₹430.12 lakh. The loss was primarily driven by exceptional items of ₹825.52 lakh, stemming from the divestment of its erstwhile subsidiary, Exuberant Systems Private Limited, and the transfer of its factoring division.

Preferential Issue of Convertible Warrants

The Board proposes to issue up to 4,00,00,000 Convertible Warrants at an issue price of ₹10 per warrant. The warrants can be exercised within 18 months of allotment. Key terms include:

• Allottees: Promoters Abhinath Manikrao Shinde and Ketan Ishwarlal Kataria, along with several non-promoters.
• Utilization: Proceeds will fund the repayment of loans and working capital requirements of wholly owned subsidiary Penganga Sakhar Karkhana Private Limited (PSKPL), as well as warehouse construction.
• Capital Increase: The authorized share capital will increase from ₹50 lakh to ₹40.50 crore to accommodate the potential conversion of warrants into equity shares.

Corporate Restructuring and Governance

Shareholders will vote on several structural changes:

• Registered Office Shift: The office will move from Mumbai to Pune, requiring Regional Director confirmation.
• Object Clause Alteration: The Memorandum of Association will be amended to include the manufacturing and trading of agricultural commodities, sugar, and agro-based products, aligning with the acquisition of PSKPL.
• Director Appointments: The meeting will appoint Ketan Ishwarlal Kataria (Promoter, Non-Executive), Pravin Shantaram Thigale (Professional, Executive), and Rahul Chandratre (Non-Executive, Non-Independent) as directors.

Financial Performance Overview

What the Numbers Show

The divergence between revenue growth and profitability highlights the impact of non-recurring events. While revenue scaled up fivefold due to the expansion of financial services facilitation activities, the bottom line was severely impacted by exceptional losses. The divestment of Exuberant Systems resulted in a loss of ₹7.02 crore against a carrying value of ₹11.70 crore, indicating that the strategic exit did not yield a return on the initial investment converted from debt. Additionally, the debt-equity ratio surged to 19.26 from 0.007 in FY25, reflecting a substantial increase in borrowings coupled with eroded equity, signaling heightened financial leverage ahead of the proposed capital infusion.

Pet Plastics Limited reported a widening consolidated loss for the first quarter of FY27, reflecting substantial operational shifts despite a surge in top-line revenue. The company, formerly known as Pet Plastics Limited and now operating under the name Bharatam Ventures Limited, posted a consolidated loss of ₹601.66 million for the quarter ended June 30, 2026, compared to a loss of ₹34.45 million in the corresponding period of FY26.

Revenue from operations expanded dramatically to ₹2,685.44 million from ₹124.92 million year-on-year. This growth was primarily attributed to changes in inventories of finished goods and goods-in-process, which accounted for ₹2,377.68 million of the total revenue figure, alongside purchases of stock-in-trade rising to ₹13.85 million from ₹21.21 million in the prior year quarter.

Financial Performance

The company’s total income stood at ₹2,704.86 million, against total expenses of ₹3,306.52 million. Key expense drivers included:

• Finance costs: ₹352.89 million (compared to nil in Q1FY25)
• Depreciation and amortization: ₹345.52 million (up from ₹0.05 million)
• Employee benefit expenses: ₹136.58 million (up from ₹3.92 million)

On a standalone basis, the company reported a net profit of ₹7.76 million, reversing a loss of ₹33.17 million recorded in Q1FY25. Standalone revenue from operations was ₹145.49 million, compared to ₹124.92 million in the previous year.

What the Numbers Show

The divergence between standalone profitability and consolidated losses highlights the impact of associate companies or subsidiaries on the group’s overall performance. While the standalone entity generated a modest profit of ₹7.76 million with controlled expenses of ₹157.15 million, the consolidated structure absorbed significantly higher finance costs and depreciation charges. The absence of exceptional items in the current quarter contrasts with the prior fiscal year, where exceptional gains of ₹721.21 million had previously offset operating deficits.