Centerac Technologies Limited shareholders approved the adoption of annual accounts for the financial year ended March 31, 2026, and reappointed director Ramesh Sundaram at its 33rd annual general meeting held on September 21, 2026.

The meeting commenced at 11:30 am via video conferencing and other audio-visual means. Sabeeen Mohamed Iqbal, whole-time director, chaired the proceedings. The session concluded after all resolutions were passed with the requisite majority through remote e-voting. Riddhi Shah, a practising company secretary, served as the scrutinizer.

Voting Participation

A total of 3,458 shareholders were on record. Eighteen shareholders attended the meeting via video conference. Promoters and the promoter group held 6,233,831 shares (99.81% of capital), while public shareholders held 4,800,869 shares (0.56% of capital). No shareholders were present in person or through proxy.

Resolution Outcomes

Shareholders voted on two ordinary resolutions. Both received overwhelming support from the promoter group, which holds nearly all voting rights. Public institutional investors did not cast votes.

Resolution 1: Adoption of Annual Accounts

The resolution to adopt the annual accounts and reports for FY26 was passed with 99.999% of votes in favour. A total of 6,249,578 votes were cast in favour, while 75 votes were cast against. All votes were cast via remote e-voting.

Resolution 2: Reappointment of Ramesh Sundaram

The resolution to reappoint Ramesh Sundaram, who retires by rotation, was passed with 99.613% of votes in favour. A total of 6,225,478 votes were cast in favour. There were 24,175 dissenting votes, constituting 0.387% of the total polled. The promoter group voted unanimously in favour, while a portion of the public non-institutional shareholders voted against the reappointment.

The company filed these proceedings with the Bombay Stock Exchange pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Centerac Technologies Limited reported a contraction in both revenue and profitability for the financial year ended March 31, 2026, driven by lower operational activity.

The Mumbai-based IT support services firm saw revenue from operations fall 15.6% year-on-year to ₹74.27 lakh, down from ₹87.97 lakh in the previous fiscal. Net profit after tax declined 22.7% to ₹2.99 lakh, compared to ₹3.87 lakh in FY25. The company did not declare any dividend for the year.

Financial Performance

Total income for Centerac Technologies stood at ₹74.37 lakh in FY26, reflecting a marginal increase in other income to ₹0.10 lakh from ₹0.04 lakh. Operating expenses remained relatively stable at ₹71.36 lakh, though the composition of costs shifted significantly.

Cost of sale of services dropped sharply by 52.0% to ₹25.48 lakh from ₹52.99 lakh. However, this was offset by a near-doubling of other expenses, which rose to ₹44.00 lakh from ₹24.27 lakh. Finance costs decreased substantially to ₹0.09 lakh from ₹5.07 lakh, following the redemption of non-convertible debentures (NCDs) during the prior period.

What the Numbers Show

A significant divergence emerged between the company’s revenue collection and its expense structure. While cost of sales halved, other expenses nearly doubled, indicating a shift toward fixed or administrative overheads relative to variable service costs. Additionally, trade receivables increased by 31.1% to ₹88.72 lakh, outpacing the decline in revenue and suggesting potential delays in working capital realization despite lower overall business volume.

Balance Sheet and Governance

As of March 31, 2026, total assets stood at ₹78.22 lakh, up from ₹53.95 lakh. Long-term borrowings rose to ₹41.88 lakh from ₹31.72 lakh, primarily due to new loans from related parties including Concept Communication Ltd and Framroz Apartments Pvt Ltd. Cash and cash equivalents remained negative at -₹11.38 lakh.

The Board announced that Mr Ramesh Sundaram will retire by rotation at the upcoming 33rd Annual General Meeting scheduled for September 21, 2026, and has offered himself for reappointment. The meeting will be held via video conferencing.