Charms Industries Limited has scheduled its 34th Annual General Meeting for September 30, 2026, seeking shareholder approval to significantly expand its business scope into iron and steel, pharmaceuticals, and hospitality.

The company filed its Annual Report for FY26 with BSE on September 7, 2026, confirming the agenda. The Board of Directors, in a meeting held on September 2, 2026, recommended alterations to the Memorandum of Association (MOA) and Articles of Association (AOA) to align with the Companies Act, 2013.

Strategic Scope Expansion

The proposed amendments aim to modernize the company’s constitutional documents. Key changes include:

• Removal of the erstwhile money changer business from principal objects.
• Inclusion of new objects relating to iron and steel, sponge iron/direct reduced iron (DRI), pharmaceuticals, healthcare, hotels, restaurants, hospitality, real estate, construction, infrastructure development, trading, and distribution.
• Retention of existing information technology, software, hardware, and allied objects.

These alterations require approval via a special resolution at the ensuing AGM. The new MOA also reflects the capital structure consequent upon the Scheme for Reduction of Share Capital sanctioned by the National Company Law Tribunal, Ahmedabad Bench.

Corporate Governance Updates

The Board recommended the appointment of M/s Nisarg Sharma & Associates as the Secretarial Auditor for five consecutive financial years, from FY27 to FY31. The proposed remuneration is capped at ₹2,00,000 per financial year, plus applicable taxes and out-of-pocket expenses.

Additionally, Mr. Parth Shivkumar Chauhan retires by rotation and offers himself for re-appointment as a Director. He has attended all seven Board meetings in FY26.

Meeting Logistics

The 34th AGM will be held at the company’s registered office in Ahmedabad on September 30, 2026, at 1:30 pm. The cut-off date for determining voting eligibility is September 23, 2026.

Remote e-voting facility will be available from September 27, 2026, at 9:00 am to September 29, 2026, at 5:00 pm. M/s Nisarg Sharma & Associates has been appointed as the scrutinizer for the voting process.

Charms Industries Limited reported a net loss of ₹19.99 lakh for the financial year ended March 31, 2026, widening from a loss of ₹14.63 lakh in the previous year. The company's Board of Directors approved the audited standalone financial results for the quarter and year ended March 31, 2026, at a meeting held on May 28, 2026. The statutory auditors, M/s. Ashit N. Shah & Co., issued an audit report with an unmodified opinion on the results. The company published an extract of these results in the Financial Express on May 30, 2026, pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial Performance

The company recorded total income from operations of ₹3.21 lakh for FY26. Total expenses for the year rose to ₹20.17 lakh from ₹17.94 lakh in FY25, driven by higher employee benefit expenses and other expenses. The basic and diluted earnings per share (EPS) for the year stood at (₹4.87), compared to (₹0.36) in the prior year.

Share Capital Reduction

Pursuant to an order by the National Company Law Tribunal, Ahmedabad Bench, the Board approved the reduction of share capital from ₹4,10,61,000 to ₹41,06,100. This involves converting 41,06,100 equity shares of ₹10 each fully paid-up to 41,06,100 equity shares of Re. 1 each fully paid-up. The scheme became effective on April 21, 2026. Shareholders whose names appeared on the register of members as on the record date of May 20, 2026, are entitled to receive one new share of Re. 1 for every old share of ₹10 held. The Board confirmed that no fractional shares would arise from this reduction. The financial results reflected herein are prior to the effect of this Scheme.