Carnation Industries Limited has formally notified its shareholders regarding the upcoming Annual General Meeting (AGM), marking a key procedural step for investor engagement in FY25-26. The company dispatched the AGM notice electronically on August 3, 2026, to all members whose names appeared in the Register of Members as of July 24, 2026. This dispatch ensures that shareholders receive timely information about the business to be transacted, including the approval of financial statements and other statutory matters, while adhering to regulatory timelines set by the Securities and Exchange Board of India (SEBI).

The AGM is scheduled to take place on August 26, 2026, at 11:00 A.M. (IST). In line with ongoing guidelines from the Ministry of Corporate Affairs (MCA) and SEBI, the meeting will be conducted through Video Conferencing or Other Audio-Visual Means (VC/OAVM). This mode allows shareholders to participate remotely, ensuring broader accessibility while maintaining compliance with corporate governance standards. The notice also includes the Annual Report for FY2025-26, which is available on the company’s website, stock exchange portals, and the NSDL platform.

To facilitate shareholder participation, Carnation Industries has implemented a remote e-voting mechanism. Members holding shares in physical or dematerialized form as of the cut-off date, August 19, 2026, are entitled to vote. The e-voting window opens on August 23, 2026, at 9:00 A.M. (IST) and closes on August 25, 2026, at 5:00 P.M. (IST). Votes cast during this remote period will be recorded, and shareholders who have already voted electronically will not be eligible to vote again during the live AGM session. Those who acquire shares after the notice dispatch can obtain login credentials from NSDL by contacting their helpline.

The Register of Members will remain closed from August 20, 2026, to August 26, 2026, both days inclusive, to finalize the list of eligible voters. This book closure period ensures that only those holding shares on the record date are considered for voting rights and potential dividend entitlements, if declared. The company has emphasized that members should update their email addresses with their Depository Participants to ensure seamless receipt of future communications and voting credentials.

Compliance with Section 108 of the Companies Act, 2013, and Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, underpins this process. The notice was also published in The Echo of India (Kolkata English Edition) and Arthik Lipi (Kolkata Edition) on August 3, 2026, to reach a wider audience. Bhawna Gupta, Director of Carnation Industries, confirmed the completion of these disclosures, reinforcing the company’s commitment to transparent and regulated shareholder communication.

Key Dates for Shareholders

What the Numbers Show

While the filing does not disclose specific financial results, the structured timeline reflects standard corporate governance practices for listed entities in India. The six-day window between the cut-off date and the AGM allows sufficient time for share transfers to settle and for NSDL to process voting credentials. The use of VC/OAVM for the AGM aligns with post-pandemic regulatory norms, reducing logistical costs while maintaining stakeholder engagement. Shareholders should monitor the company’s website and stock exchange filings for any updates on resolutions or dividend declarations ahead of the meeting.

Carnation Industries Limited reported a net loss of ₹13.18 lakh for the financial year ended March 31, 2026 (FY26), marking a significant turnaround from the net profit of ₹142.44 lakh achieved in FY25. The company’s revenue from operations was ₹170 lakh, while total income reached ₹196.72 lakh, supported by other income of ₹26.72 lakh. This performance follows the successful implementation of a Resolution Plan approved by the National Company Law Tribunal (NCLT), Kolkata Bench, which facilitated capital restructuring and a shift toward the beverage industry.

The decline in profitability is primarily attributed to increased operational and financial costs during the transition phase. Total expenses rose to ₹170.22 lakh from ₹84.62 lakh in the previous year. Finance costs accounted for ₹67.56 lakh, reflecting borrowing activities undertaken to support the new business verticals. Additionally, tax expenses totaled ₹39.68 lakh, comprising current tax of ₹61.56 lakh partially offset by deferred tax benefits of ₹21.88 lakh. The company did not declare any dividend for the year due to the incurred losses.

Strategic Shift and Operational Updates

The fiscal year was defined by the company’s strategic pivot following its exit from the Corporate Insolvency Resolution Process (CIRP). Under the NCLT-approved plan, existing shares were cancelled and reissued, with 90% allotted to the successful resolution applicant, Vikas Garg, and 10% retained by public shareholders. This restructuring enabled the induction of a new management team led by Director Bhawna Gupta and Chief Financial Officer Bhartendu Pratihasta, who joined in July 2025.

Carnation Industries has diversified into the manufacturing, processing, and distribution of alcoholic and non-alcoholic beverages, including wines, spirits, and energy drinks. To accelerate this entry, the company entered into a Share Purchase Agreement with Oniv Beverages Private Limited, acquiring 100% equity for up to ₹5 crore through share exchange. During FY26, the company advanced ₹1,083.94 lakh as working capital support under this agreement, classifying it as a loan asset on the balance sheet.

Financial Position and Balance Sheet

The balance sheet reflects substantial changes in capital structure and liquidity. Total assets increased to ₹1,676.54 lakh from ₹230.72 lakh in FY25, largely driven by financial assets. Non-current loans stood at ₹1,083.94 lakh, primarily representing the advance to Oniv Beverages. Cash and cash equivalents decreased significantly to ₹16.35 lakh from ₹90.42 lakh, indicating deployment of funds toward strategic initiatives.

Liabilities also saw a marked increase, with total equity and liabilities matching assets at ₹1,676.54 lakh. Non-current borrowings rose to ₹1,362.07 lakh, sourced from related party Advik Capital Limited, a promoter group entity. Trade receivables emerged as a new line item at ₹189.20 lakh, signaling active trading operations in the beverage segment. The authorized share capital was increased from ₹7 crore to ₹35 crore, though regulatory filings remain pending.

Governance and Regulatory Compliance

The company’s Annual General Meeting is scheduled for August 26, 2026, to adopt the audited financial statements and approve related party transactions up to ₹150 crore for FY27. Shareholders will also vote on amendments to the Memorandum of Association to formalize the name change to Ebravea Beverages Limited and the shift of the registered office from West Bengal to Delhi. Statutory auditor Jain Saraogi & Co LLP issued an unqualified opinion, noting no fraud or material misstatements. However, the audit report highlighted delays in transferring unclaimed dividends of ₹1.42 lakh to the Investor Education and Protection Fund and pending filings for the increased share capital.