Cityman Limited held its 34th Annual General Meeting (AGM) on Wednesday, September 30, 2026, at 1:00 pm. The meeting was conducted entirely through Video Conference and Other Audio Visual Means in compliance with regulatory guidelines.

The session was chaired by Anup Kumar, Non-Executive Director, who confirmed the requisite quorum. He welcomed the members, directors, and statutory auditors participating remotely. The Board’s report and the audited accounts for the financial year ended March 31, 2026, were taken as read as they had been previously circulated to shareholders.

Agenda items transacted

The meeting addressed six key resolutions, ranging from financial adoption to board composition changes. Remote e-voting had commenced earlier on September 27, 2026, and concluded prior to the live session, with additional voting facilities available during the meeting.

Voting and scrutiny process

Krishnan Potty Jayaraj, a practicing Company Secretary, served as the scrutinizer for the e-voting process. The Chairman informed attendees that the voting results, along with the scrutinizer’s report, would be declared within 48 hours of the meeting's conclusion. These outcomes will be published on the company website and the CDSL e-voting portal, and communicated to stock exchanges.

The AGM concluded at 1:45 pm after the Chairman thanked the members for their participation.

Cityman Limited has scheduled its 34th Annual General Meeting (AGM) for September 30, 2026, at 1:00 pm via Video Conferencing. The company submitted its 34th Annual Report for FY26 on September 3, 2026, reporting a net loss of ₹33.4 lakh. The AGM notice was published in newspapers on September 4, 2026.

The disclosure was issued pursuant to Regulation 34(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Santhosh Joseph Karimattom, Managing Director, signed the submission.

Financial Performance

Cityman recorded no revenue from operations during FY26, consistent with its minimal commercial activity. Total expenses amounted to ₹33.4 lakh, driven primarily by employee benefit expenses of ₹17.6 lakh and other expenses of ₹15.7 lakh. Depreciation and amortization expenses remained flat at ₹0.6 lakh.

The company reported a loss before tax of ₹33.4 lakh. There were no tax expenses recognized due to accumulated losses. Other comprehensive income contributed a further loss of ₹6.8 lakh, resulting in the total comprehensive loss of ₹40.2 lakh. This compares to a loss before tax of ₹31.5 lakh in FY25.

Capital Structure and Related Party Transactions

The company’s balance sheet reflects a high degree of reliance on promoter funding. Non-current borrowings increased to ₹1,431.1 lakh as of March 31, 2026, up from ₹1,397.8 lakh in the previous year. This entire borrowing amount is an unsecured, interest-free loan from Managing Director Santhosh Joseph Karimattom, repayable on demand.

During FY26, the company received an additional ₹33.2 lakh in unsecured loans from Karimattom. The existing outstanding balance prior to this infusion was approximately ₹143.1 lakh. The proposed new facility of up to ₹20 crore, seeking shareholder approval at the AGM, aims to provide further liquidity flexibility. This loan may be converted into equity, offering a mechanism to manage leverage without immediate cash outflow.

Board Composition Changes

The AGM will focus on board refreshment through rotation and new appointments. Shareholders will consider the reappointment of two executive directors retiring by rotation:

• Santhosh Joseph Karimattom: Managing Director since 1992, holding approximately 77.2 lakh equity shares.
• Juliana Santhosh: Executive director with administration expertise, holding approximately 2.3 lakh equity shares.

Additionally, the meeting will approve the reappointment of Anup Kumar as a Non-Executive Director. Kumar, who served as an Independent Director until July 2024, brings extensive experience in banking and financial consultancy. His reappointment follows a recommendation from the Nomination and Remuneration Committee.

New Independent Director

The company seeks approval for the appointment of Parapattu Varughese Nainan as an Independent Director for a five-year term. Nainan, an MBA graduate with specialization in finance and former director of the Institute of Cost Accountants of India (Cochin Chapter), has been associated with Cityman since 1993. His appointment aims to strengthen independent oversight on the board.

What the Numbers Show

The financial data highlights a sustained period of dormancy in core operations, with zero revenue generated for the second consecutive year. The widening loss—from ₹31.5 lakh in FY25 to ₹33.4 lakh in FY26—is driven by fixed operational costs rather than variable business expenses. Employee benefits constitute over 50% of total expenses, indicating that personnel costs are the primary cash drain in the absence of commercial activity. Furthermore, the increase in promoter loans by ₹33.2 lakh during the year mirrors the operating loss, suggesting that the promoter is directly bridging the cash flow deficit to maintain the company’s listing and compliance obligations.

Meeting Logistics

Remote e-voting will be facilitated by Central Depository Services (India) Limited (CDSL). The voting window opens on September 27, 2026, at 9:00 am and closes on September 29, 2026, at 5:00 pm. The Register of Members and Share Transfer Books will remain closed from September 24, 2026 to September 30, 2026 (both days inclusive).

Mr. Krishnan Potty Jayaraj, Practicing Company Secretary (CP No.4410), has been appointed as the scrutinizer for conducting the e-voting process.

Annual Report Access and KYC Updates

In compliance with Regulation 36(1)(b) of the SEBI Listing Regulations, Cityman has dispatched letters to shareholders whose email addresses are not registered with the company, Registrar & Share Transfer Agent, or Depository Participants. These shareholders are informed that the Annual Report for FY26 can be accessed via a web link on the company’s website. Electronic copies of the AGM notice and annual report are being sent via email to all shareholders with registered email addresses.

The company has reiterated SEBI guidelines mandating that all shareholders update their PAN, email ID, KYC details, and nomination details with their respective Depository Participants. Payments, including dividends, for folios with unupdated PAN or KYC details will only be made electronically upon registration of the required information.