Dhatre Udyog has clarified that its 31st Annual General Meeting will be held at 11:00 am on September 26, 2026. This updates the previously scheduled time of 1:00 pm for the meeting.

The company issued an intimation under Regulation 30 of SEBI Listing Regulations, providing a web link to the Annual Report for FY26 and the AGM notice. The documents are available for shareholders who have not registered email addresses with their depository participants or registrar.

Meeting Details

The 31st AGM will be conducted via video conferencing or other audio-visual means. Share transfer books remain closed from September 20 to September 26, 2026. Members holding shares on the cut-off date of September 19, 2026, are eligible to vote.

Remote e-voting commences on September 23, 2026, at 9:00 am and ends on September 25, 2026, at 5:00 pm.

Corporate Governance Updates

The board appointed M/s Sampath & Co as the cost auditor for the financial year 2026-2027. M/s Ankita Dey & Associates was named scrutinizer for e-voting and voting during the AGM.

Additionally, the board approved the continuation of Mr Asit Baran Bhattacharjee as a non-executive independent director beyond the age of 75 years. This appointment is effective from July 13, 2027, up to September 29, 2027, subject to shareholder approval via special resolution.

Dhatre Udyog Limited reported a consolidated net profit of ₹573.22 lakh for the first quarter ended June 30, 2026, compared to ₹280.29 lakh in the corresponding period of FY25. This top-line figure is misleadingly positive; the company actually incurred an operational loss before tax of ₹28.65 lakh during the quarter. The profit is entirely attributable to non-operating items, specifically other comprehensive income (OCI), signaling that the company’s core business remains dormant while balance sheet adjustments drive the headline number.

The Board of Directors approved these unaudited financial results in a meeting held on August 11, 2026, pursuant to Regulations 30 and 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The results were reviewed by the Audit Committee and subjected to a limited review by the statutory auditor, M/s. P. D. Rungta & Co., Chartered Accountants. Company Secretary Yamini Shukla and Managing Director Sumit Kumar Agarwal signed off on the filings submitted to the Bombay Stock Exchange.

Operational Stagnation and Cost Structure

Dhatre Udyog’s core operations remain suspended following the closure of its manufacturing unit in Vizianagaram. The plant was disposed of as scrap during the previous financial year after no viable offers were received for it as a going concern. Consequently, revenue from operations for Q1FY26 was nil, down from ₹902.64 lakh in Q1FY25.

Total expenses stood at ₹28.65 lakh, comprising employee benefit expenses of ₹16.20 lakh, other expenses of ₹10.70 lakh, and depreciation and amortisation expenses of ₹1.75 lakh. In the prior year’s corresponding quarter, total expenses were significantly higher at ₹918.50 lakh, driven largely by purchases of stock-in-trade and changes in inventories, which are no longer applicable due to the cessation of manufacturing.

Financial Performance Breakdown

The statutory auditor issued a limited review report with a qualified conclusion. The qualification arises because balances under trade receivables, advances at debit/credit, and trade payables are subject to pending confirmations and reconciliations. The auditor noted that the consequential impact of these items on the financial statements could not be ascertained. Additionally, an emphasis of matter paragraph highlighted the cessation of manufacturing operations and the company’s shift towards evaluating real estate development opportunities on its land in Jamshedpur.

What the Numbers Show

The divergence between operational performance and bottom-line profit is the defining feature of Dhatre Udyog’s Q1FY26 results. While the company posted a net profit of ₹573.22 lakh, this figure is driven by OCI of ₹602.50 lakh, primarily consisting of remeasurements of defined benefit liability/asset items that will not be reclassified to profit or loss. Without this non-cash accounting adjustment, the company would have reported a net loss of ₹29.28 lakh for the quarter. This underscores that current profitability is not derived from business operations but from actuarial adjustments, reflecting its status as a suspended entity transitioning to potential real estate ventures.