Elfin Agro India Limited published its second public notice for the 17th Annual General Meeting (AGM) on August 6, 2026, reaffirming the meeting scheduled for September 1, 2026. The company, formerly known as Elfin Agro India Private Limited, confirmed that the AGM will be held via Video Conferencing (VC) or Other Audio Visual Means (OAVM) at 1:00 P.M. IST. This update follows the initial public notice issued on August 3, 2026, and provides shareholders with precise timelines for remote e-voting and access to the Annual Report for the financial year 2025-26.

Key AGM and E-Voting Details

The second public notice, published in Financial Express (English, All India edition) and Business Remedy (Hindi, Rajasthan edition), outlines critical dates for shareholder participation. The cut-off date to determine eligibility for e-voting is Tuesday, August 25, 2026. Shareholders must have their names recorded in the Register of Members or Register of Beneficial Owners by this date to exercise voting rights.

Annual Report and Shareholder Access

The Notice of the 17th AGM and the Annual Report for FY25-26 were dispatched via email on August 3, 2026, to members with registered email addresses. In compliance with Regulation 36(1)(b) of the SEBI Listing Regulations, a letter containing web-links to access these documents was sent on August 4, 2026, to shareholders who do not have registered email IDs. Physical copies of the notice and annual report are not being dispatched, as permitted under MCA and SEBI circulars.

The documents are also available on the company’s website at www.elfinagroindia.com , the BSE Limited website, and the NSDL e-voting platform at www.evoting.nsdl.com . Members who acquire shares after the dispatch of the notice but hold them as on the cut-off date may obtain login credentials by contacting NSDL at helpdesk.evoting@nsdl.com .

Regulatory Compliance

The proceedings are governed by Section 108 of the Companies Act, 2013, Rule 20 of the Companies (Management and Administration) Rules, 2014, and Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The remote e-voting facility is provided by National Securities Depositories Limited (NSDL). Once a vote is cast, it cannot be changed. Members who vote remotely may attend the AGM but cannot vote again. The advertisement was signed by Khushbu Sethi, Company Secretary and Compliance Officer (Membership No: A40048), on behalf of the Board.

Elfin Agro reported a 21.19% year-on-year increase in revenue from operations to ₹17,677.68 lakh for the financial year ended March 31, 2026 (FY26), driven by higher sales volumes and improved operational performance. Profit after tax (PAT) rose 14.70% to ₹576.98 lakh, while EBITDA grew to ₹967.25 lakh from ₹809.45 lakh in FY25. The growth was supported by the company’s listing on the BSE SME Platform on March 12, 2026, which enhanced liquidity and reduced debt levels.

The Board of Directors decided not to recommend any dividend for FY26, choosing instead to retain earnings to fund future business expansion. Statutory auditors M/s. Deepak Agal & Co., Chartered Accountants, issued an unqualified opinion on the financial statements, confirming compliance with applicable Accounting Standards and the Companies Act, 2013. The company also appointed M/s. Jindal Kulwal & Associates as internal auditors for FY26 and FY27.

Financial Performance

Revenue from manufacturing activities stood at ₹15,043.86 lakh, while trading revenue contributed ₹2,633.81 lakh. Mustard oil emerged as a key growth driver, with sales reaching ₹4,383.92 lakh compared to ₹2,088.21 lakh in FY25. Maida sales also increased to ₹4,338.40 lakh from ₹3,987.27 lakh. Conversely, Chana sales declined sharply to ₹162.37 lakh from ₹1,216.45 lakh, reflecting shifting product mix dynamics.

Balance Sheet and Cash Flow

The company’s balance sheet strengthened significantly following its initial public offering (IPO). Shareholders’ equity surged to ₹4,357.32 lakh from ₹1,375.85 lakh in FY25, primarily due to securities premium reserves created from the IPO proceeds. Total assets rose to ₹5,234.96 lakh from ₹3,344.14 lakh. Short-term borrowings decreased substantially to ₹322.13 lakh from ₹1,050.69 lakh, improving the debt-equity ratio to 0.07 from 0.89.

Cash and cash equivalents increased to ₹760.94 lakh from ₹25.84 lakh. Net cash from operating activities turned positive at ₹1,466.45 lakh, reversing a negative outflow of ₹303.43 lakh in the previous year. This improvement was aided by better working capital management, although inventories increased to ₹2,089.53 lakh from ₹1,111.33 lakh to support higher production volumes.

What the Numbers Show

The divergence between revenue growth (21.19%) and PAT growth (14.70%) indicates margin compression despite top-line expansion. EBITDA margin remained relatively stable at 5.18% in FY26 versus 5.22% in FY25, but PAT margin declined slightly to 3.26% from 3.45%. This suggests that while operational efficiency was maintained, non-operating costs or financing structures impacted bottom-line accruals relative to sales growth. Additionally, the return on equity dropped to 20% from 45%, a direct consequence of the expanded equity base from the IPO rather than operational underperformance.

Corporate Governance and Related Party Transactions

Shareholders will vote on the re-appointment of Vimal Kumar Daga as Whole-Time Director at the 17th Annual General Meeting scheduled for September 1, 2026. The meeting will also seek approval for material related-party transactions with M/s. Daga Brothers, valued up to ₹50 crore for FY27. These transactions include the sale and purchase of goods, leasing of property, and rendering of services, conducted on an arm’s-length basis. Interested directors, including Deepak Pal Daga and Vimal Kumar Daga, will abstain from voting on this resolution as per SEBI Listing Regulations.