Chandrima Mercantiles has announced September 10, 2026, as the record date for determining shareholders eligible for its 44th Annual General Meeting (AGM). The company’s register of members and share transfer books will remain closed from September 10 to September 17, 2026.

The Board of Directors approved the appointment of M/s. M A A K & Associates as statutory auditors for a five-year term starting from FY27 during its meeting on August 26, 2026. This appointment is subject to shareholder approval at the upcoming AGM.

Book Closure Details

The book closure period applies to both the determination of shareholders for receiving notices and those eligible for e-voting. The cut-off date for determining shareholders for sending notices is August 21, 2026.

Auditor Appointment

M/s. M A A K & Associates, registered under FRN 135024W, will hold office from the conclusion of the 44th AGM until the conclusion of the 49th AGM in 2031. The firm, based in Ahmedabad, specializes in audits for listed companies and nationalized banks. Its peer review validity expires on June 30, 2027.

AGM Schedule

Chandrima Mercantiles scheduled its 44th AGM for September 17, 2026, at 12:00 pm. The meeting will be conducted via Video Conferencing or Other Audio-Visual Means (OAVM). Shareholders will receive the notice, director’s report, and related documents in due course.

Chandrima Mercantiles Limited reported a return to profitability for the first quarter of FY27, posting a standalone net profit of ₹4.94 lakh for the period ended June 30, 2026. This represents a significant sequential improvement from a net loss of ₹219.69 lakh recorded in the fourth quarter of FY26. The profit turnaround coincided with a sharp contraction in operational scale, as revenue from operations fell 83.6% year-on-year to ₹71.35 lakh, compared to ₹440.71 lakh in the same quarter last year.

The company’s total income for the quarter stood at ₹71.36 lakh, with other income contributing a negligible ₹0.01 lakh. Total expenses were contained at ₹64.76 lakh, driven primarily by purchases of ₹41.16 lakh and changes in inventory valued at ₹14.02 lakh. Other expenses amounted to ₹8.41 lakh, while employee benefits expense remained stable at ₹1.17 lakh, identical to the previous quarter’s figure.

Financial Performance Overview

Despite the quarterly profit, the company reported a comprehensive loss for the prior year ended March 31, 2026, due to other comprehensive income items that were not reclassified subsequently to profit or loss. For the current quarter, earnings per share (basic) were recorded at ₹0.00, compared to a diluted EPS of (₹0.08) in the previous quarter.

What the Numbers Show

The divergence between the sharp decline in revenue and the return to profitability highlights a structural shift in cost management or business volume. While revenue contracted by over 80% compared to the same quarter last year, total expenses fell even more precipitously, dropping from ₹399.07 lakh in Q1FY26 to ₹64.76 lakh in Q1FY27. This suggests that the fixed cost base has been significantly reduced or that the nature of operations has changed drastically, allowing the company to maintain margins despite minimal top-line activity. The absence of finance costs and depreciation in the current quarter further indicates a leaner operational footprint compared to prior periods.

Auditor Qualifications

The independent auditor’s review report, issued by MAAK & Associates, included a qualified opinion and an emphasis on matter. The qualified opinion arose because the auditors were not provided with balance confirmations or details for trade receivables, trade payables, and loans and advances receivables/payables. Consequently, they were unable to confirm the balance and nature of these transactions. Additionally, the auditor noted that closing stock was calculated and certified by management only, without providing the basis of calculation to the auditors.

The financial results were reviewed by the Audit Committee and approved by the Board of Directors in a meeting held on August 12, 2026. The results have been prepared in accordance with Indian Accounting Standards (Ind AS) prescribed under Section 133 of the Companies Act, 2013.