Binny Mills Limited concluded its 19th Annual General Meeting on August 31, 2026. The gathering focused on governance matters, including the adoption of audited financial statements for FY26 and board composition updates.

The meeting was conducted via Video Conferencing or Other Audio Visual Means, with the registered office in Chennai serving as the deemed venue. Independent Director Ashwath Naroth presided as Chairman in the absence of V. R. Venkataachalam, who had sought leave of absence due to prior commitments.

Key Resolutions Passed

Shareholders approved three primary resolutions during the proceedings. The first involved receiving, considering, and adopting the audited financial statements for the financial year ended March 31, 2026, along with the reports of the Board of Directors and Auditors.

The second ordinary resolution concerned the reappointment of Shri T. Yeswanth as a Director. He retires by rotation under Section 152(6) of the Companies Act, 2013 and offered himself for re-appointment, which was accepted by the members.

A special resolution was passed to regularize the appointment of Shri Dr. T. Bhasker Raj. Previously appointed as an Additional Director, he was formally appointed as a Non-Executive and Non-Independent Director of the company.

Meeting Proceedings

The statutory auditors, M/s. Ramesh & Ramachandran, were represented by Sundar, Premalatha, and G. Suresh. S.R. Balasubramaniam of Elangovan & Associates served as the Secretarial Auditor, while K. Elangovan acted as the Scrutinizer. G. Geetha, Company Secretary and Compliance Officer, managed the procedural aspects of the meeting.

E-voting was open from August 28 to August 30, 2026. Members who had not voted remotely were provided the facility during the meeting. The Scrutinizer is required to submit a consolidated report within two working days of the conclusion of the meeting.

The meeting concluded at 11:41 am, excluding time allocated for e-voting after the formal proceedings ended.

Binny Mills Limited reported a net loss of ₹289.62 lakh for the quarter ended June 30, 2026 (Q1FY27), a significant improvement from the ₹1,097.43 lakh loss recorded in the preceding quarter. Total income from operations rose 31.2% year-on-year to ₹204.72 lakh, driven by higher operational activity compared to the ₹155.99 lakh reported in Q1FY26. The Board of Directors approved the unaudited financial results on July 31, 2026, alongside the appointment of Dr. T. Bhasker Raj as an Additional Director.

The company’s 19th Annual General Meeting is scheduled for August 31, 2026, to be conducted via Video Conferencing or Other Audio-Visual Means. The Board meeting, held on July 31, 2026, commenced at 11:30 AM and concluded at 12:45 PM. The financial statements were prepared in accordance with Indian Accounting Standards (Ind AS) prescribed under Section 133 of the Companies Act, 2013.

Financial Performance

Binny Mills Limited saw its operational income increase significantly compared to the same period last year, though it continues to report net losses. The net loss before tax stood at ₹253.65 lakh, down from ₹921.36 lakh in the previous quarter. Earnings per share (basic and diluted) were ₹(11.21), an improvement from ₹(42.47) in the prior quarter.

What the Numbers Show

The narrowing of the net loss by nearly 74% quarter-on-quarter suggests a stabilization in cost structures or a reduction in exceptional items, although total income dropped sharply from ₹433.12 lakh in Q4FY26 to ₹204.72 lakh in Q1FY27. This divergence indicates that while revenue generation has normalized seasonally, the company is managing its expense base more effectively than in the immediate past. The debt-equity ratio remains at (0.58), reflecting the classification of cumulative redeemable preference shares as financial liabilities under Ind AS.

Corporate Governance Updates

Dr. T. Bhasker Raj (DIN: 02724086) was appointed as an Additional Director (Non-Executive, Non-Independent) with effect from July 31, 2026. He will hold office up to the date of the ensuing Annual General Meeting. Dr. Bhasker Raj is related to Mr. V. R. Venkataachalam, Director, being his sister’s son, and to Ms. Samyuktha, Managing Director, being her cousin. He is not debarred from holding office by any regulatory authority.

The quarterly results were reviewed by Ramesh and Ramachandran Chartered Accountants, who issued a review report pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Audit Committee recommended the results to the Board, which approved them on July 31, 2026.