Consecutive Commodities Limited has scheduled a board meeting on June 02, 2026, to consider and approve the terms of a proposed Rights Issue. The meeting, to be held at the company's corporate office, will focus on determining the issue structure, including the number of equity shares to be offered, the issue price per share, and the rights entitlement ratio. Additionally, the board will discuss the terms of payment and other incidental matters related to the issue.

The board is also expected to finalize the record date and the overall timing for the Rights Issue. This move follows regulatory requirements under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, necessitating disclosure to the stock exchanges regarding the meeting's agenda.

In compliance with the company's Code of Conduct for Prevention of Insider Trading, the trading window for directors, designated persons, and their immediate relatives has been closed. The restriction is effective from May 28, 2026, and will remain in place until 48 hours after the conclusion of the board meeting on June 02, 2026.

The Rights Issue is a significant corporate action that will allow existing shareholders to purchase additional shares, typically at a discount to the current market price. The specific details regarding the ratio and price will be announced following the board's decision.

Key Meeting Details

Consecutive Commodities Limited reported a net profit of ₹270.32 lakh for the financial year ended March 31, 2026, an increase of 21% from ₹223.13 lakh in the corresponding previous year. Revenue from operations for the year rose to ₹5787.87 lakh from ₹2260.09 lakh in FY25. The company's basic earnings per share for the year improved to ₹0.17 from ₹0.14 in the prior year.

For the quarter ended March 31, 2026, the company recorded a net profit of ₹87.89 lakh, compared to ₹55.44 lakh in the same quarter of the previous year. Revenue from operations for the quarter stood at ₹1640.33 lakh. Total expenses for the quarter were ₹1559.60 lakh. The Board of Directors approved the financial results at a meeting held on May 25, 2026.

Financial Performance

The company's total income for FY26 was ₹5809.21 lakh, up from ₹2377.42 lakh in the previous year. Total expenses for the year increased to ₹5480.85 lakh from ₹2145.57 lakh. Profit before tax for the year was ₹328.36 lakh, compared to ₹231.85 lakh in FY25. The company operates solely in the trading of agriculture products and stated there are no reportable segments requiring separate disclosure.

Auditor Observations

The statutory auditors, S K Bhavsar & Co., issued an unmodified opinion on the standalone financial results. However, the auditors included an emphasis of matter regarding the absence of balance confirmation letters and reconciliation statements for certain trade receivables and payables. Consequently, the auditors were unable to satisfy themselves regarding the existence, completeness, and recoverability of these balances.

Additionally, the auditors noted that the company failed to appoint an Internal Auditor for the entire financial year 2025-26, constituting a non-compliance with Section 138 of the Companies Act, 2013. This absence resulted in a significant gap in the internal control framework. The auditors also highlighted that the bifurcation of trade payables into Micro, Small and Medium Enterprise (MSME) creditors was not provided, affecting regulatory compliance under the MSME Development Act, 2006.