Elegant Floriculture & Agrotech (India) Limited reported an 81% year-on-year increase in net profit for FY26, reaching ₹210.23 crore, while total revenue surged to ₹1,600.32 crore. The company will hold its 33rd Annual General Meeting on September 28, 2026, where members are expected to vote on a strategic name change to Elegant Buildworks Limited and the appointment of new independent directors.

Financial performance

The company’s financial results for the fiscal year ended March 31, 2026, reflect significant growth compared to the previous year. Total revenue from operations stood at ₹1,600.32 crore, up from ₹129.44 crore in FY25. This revenue expansion contributed to a profit before tax of ₹280.59 crore, compared to ₹146.40 crore in the prior year. After accounting for tax expenses of ₹70.36 crore, the net profit after tax reached ₹210.23 crore, surpassing the ₹115.92 crore recorded in FY25.

The earnings per equity share increased to ₹1.05 in FY26, up from ₹0.58 in FY25. The company did not declare any dividend for the year and transferred no profits to the General Reserve.

Strategic pivot and name change

A key agenda item at the upcoming AGM is the proposed alteration of the main object clause in the Memorandum of Association. The board seeks permission to diversify into real estate, construction, and infrastructure development, including building townships, industrial parks, and public infrastructure projects. Consequent to this strategic shift, the company proposes changing its name from Elegant Floriculture & Agrotech (India) Limited to Elegant Buildworks Limited. The Ministry of Corporate Affairs has already granted name availability approval via RUN Approval dated July 23, 2026. The final approval is subject to member consent and regulatory clearances from the Registrar of Companies and BSE Limited.

Board appointments and governance

Members will vote on the regularisation of two additional directors as independent directors: Mr. Lavjibhai Hirabhai Maheriya and Mr. Babubhai Lavajibhai Maheriya. Both were appointed as additional directors on January 8, 2026, and are proposed for five-year terms commencing from that date. They bring expertise in commerce, accounting, and corporate governance.

The meeting will also see the re-appointment of Mr. Vijaykumarbabulal Soni as a director retiring by rotation. Additionally, M/s. Sarang Shivajirao Chavan and Associates will be appointed as statutory auditors for a five-year term ending in 2030, replacing the outgoing firm. M/s. SCS & CO. LLP is proposed as the secretarial auditor for five consecutive financial years from FY25-26 to FY29-30.

E-voting and meeting details

The remote e-voting window opens at 9:00 am on September 25, 2026, and closes at 5:00 pm on September 27, 2026. The record date for determining eligible voters is September 21, 2026. National Securities Depository Limited (NSDL) facilitates the e-voting process, with Mr. Abhishek Chhajed appointed as the scrutiniser.

Elegant Floriculture & Agrotech (India) elegant floriculture & ag has appointed M/s. SCS & CO. LLP as its secretarial auditor for the financial year 2025-26. The Board of Directors approved the appointment during a meeting held on August 18, 2026, replacing the outgoing firm of N. Bagaria & Associates.

The change in auditors stems from the company's strategic shift in operational geography. N. Bagaria & Associates, based in Mumbai, tendered its resignation effective August 17, 2026, citing the company's relocation of operations from Mumbai to Ahmedabad. This geographic mismatch prompted the search for a local audit partner to facilitate compliance and oversight.

Auditor Transition Details

The outgoing auditors, N. Bagaria & Associates, served as the secretarial auditor for a term commencing with FY26. Their resignation was formalized on August 17, 2026, with immediate effect. The board subsequently moved to secure a replacement based in Ahmedabad to align with the new operational hub.

M/s. SCS & CO. LLP is an Ahmedabad-based firm led by Partner Mr. Abhishek Chhajed. With over 11 years of professional experience, Mr. Chhajed specializes in secretarial compliance for listed and unlisted companies under Company Laws, SEBI Listing Regulations, and RBI guidelines. The firm holds Firm Registration No. L2020GJ008700 and Peer Review No. 1677/2022.

Regulatory Compliance

The company disclosed these developments pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure also references the SEBI Master Circular HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, regarding the appointment and resignation of secretarial auditors. The board meeting commenced at 1:00 pm and concluded at 1:30 pm.