Binny Limited held its 57th Annual General Meeting on September 7, 2026. The meeting approved the company's financial statements for the fiscal year ended March 31, 2026.

The proceedings were conducted through video conference and other audio-visual means in compliance with Ministry of Corporate Affairs and SEBI circulars. Sathyanarayanan Balakrishnan, Whole-time Director, chaired the session.

Meeting Participation

As of the record date of August 31, 2026, Binny Limited had 12,063 shareholders. A total of 66 shareholders participated in the meeting via video conference.

No shareholders attended in person or through proxy.

Resolutions Passed

Shareholders passed three ordinary resolutions during the meeting:

• Adoption of Financial Statements along with the Board and Auditors' reports for FY26.
• Reappointment of Mr. Nutrajan Ramesh (DIN: 00356383) as a director following his retirement by rotation.
• Appointment of RLS & Associates, represented by proprietor Mr. Rajiblochan Sarangi, as Secretarial Auditors for five years from FY25 to FY29.

Voting Process

The company utilized Central Depository Services (India) Limited (CDSL) for remote e-voting. The voting window opened at 9:00 am on September 4, 2026, and closed at 5:00 pm on September 6, 2026. Mr. P. Sriram of SPNP & Associates served as the scrutinizer for the e-voting process.

Binny Limited reported a decline in profitability for the financial year ended March 31, 2026, with net profit falling to ₹3,599.76 lakh compared to ₹4,651.91 lakh in the prior year. Total revenue from operations dropped to ₹6,550.86 lakh, down from ₹8,298.91 lakh in FY25, reflecting a slowdown in real estate development activities.

The company's financial performance was primarily driven by its joint development arrangements (JDA). Revenue from JDAs decreased to ₹6,425.46 lakh from ₹8,298.91 lakh, while direct land sales contributed ₹125.40 lakh. Despite the revenue contraction, the company maintained a strong balance sheet with total assets rising to ₹84,600.80 lakh from ₹81,312.56 lakh.

Financial Highlights

What the Numbers Show

The divergence between asset growth and revenue decline highlights the capital-intensive nature of Binny's current operations. While total assets increased by approximately 4%, driven largely by inventory buildup, revenue generation slowed significantly. Inventory levels surged to ₹75,008.98 lakh from ₹60,259.06 lakh, indicating substantial land holdings awaiting development or sale. This accumulation suggests that the company is investing heavily in future projects rather than realizing immediate cash flows from existing stock.

Operational and Governance Updates

Binny Limited executed a Second Amended and Reinstated Joint Development Agreement with SPR Construction Private Limited in August 2025, settling long-standing arbitration proceedings. Additionally, the company entered into a new JDA with Osian Constructions Private Limited for a residential project in Valasaravakkam, with an estimated revenue share of ₹693 crore for Binny.

The Board of Directors underwent significant changes during the year, including the removal of two independent directors following shareholder resolutions. The company also appointed RLS & Associates as its Secretarial Auditor for a five-year term. No dividend was recommended for FY26.