Equilateral Enterprises Limited held its 39th Annual General Meeting (AGM) on September 29, 2026, through video conferencing and other audio-visual means. The meeting commenced at 12:30 pm and concluded at 12:45 pm, with e-voting results to be announced within two working days.

Shareholders approved several key resolutions, including the adoption of standalone financial statements for FY26 and the reappointment of M/s SSRV and Associates as statutory auditors. A significant special resolution authorized material related party transactions up to ₹100 crore, reflecting the company's ongoing operational engagements with associated entities.

Board and Leadership Updates

The AGM addressed routine corporate governance matters alongside specific leadership confirmations. Mr. Pratik Kumar Sharadkumar Mehta was reappointed as Managing Director via a special resolution, ensuring continuity in executive leadership. Additionally, a director retiring by rotation was appointed in their place through an ordinary resolution.

The meeting was attended by 10 members via the digital platform. The board of directors present included:

Key managerial personnel present included Ms. Alpi Jain as Company Secretary and Ms. Payal M Jani as Chief Financial Officer.

Resolution Details

The business transacted at the AGM comprised both ordinary and special resolutions, all passed via electronic voting facilitated by NSDL. The cut-off date for determining eligible shareholders was September 22, 2026.

Ordinary Business

1. Adoption of standalone financial statements for the financial year ended March 31, 2026.
2. Appointment of a director in place of a retiring director by rotation.
3. Reappointment of statutory auditor M/s SSRV and Associates.

Special Business

1. Reappointment of Pratik Kumar Sharadkumar Mehta as Managing Director.
2. Approval for material related party transactions amounting up to ₹100 crore.

Procedural Compliance

The company conducted the meeting in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and relevant MCA circulars regarding virtual meetings. Ms. Abhilasha Chaudhary, a practicing company secretary, served as the scrutinizer for the e-voting process. No shareholders registered as speakers were present during the live session.

Equilateral Enterprises has scheduled its 39th Annual General Meeting for September 29, 2026. The event will be held via video conferencing to approve financial results for FY26 and key management appointments.

Meeting Details

The Board of Directors fixed the meeting date to transact ordinary and special business. The notice was issued on September 5, 2026. Shareholders holding equity shares as of the cut-off date on September 22, 2026, are eligible to vote. Remote e-voting will be available from September 26 to September 28, 2026.

The company previously operated under the name Surya Industrial Corporation Limited.

Financial Performance FY26

The explanatory statement discloses standalone financial results for the fiscal year ended March 31, 2026. Sales and other income rose significantly compared to the prior year.

Depreciation for FY26 stood at ₹4.78 lakh, while tax expense was ₹0.36 lakh. The company reported no interest, prior period items, or exceptional items for the period.

Key Agenda Items

Shareholders will vote on several critical resolutions:

• Reappointment of Managing Director: Approval for Mr. Pratik Kumar Sharadkumar Mehta’s reappointment as Managing Director for five years, effective October 1, 2026. His proposed remuneration is up to ₹20 lakh per annum.
• Director Rotation: Reappointment of Mr. Kartik Sharadkumar Mehta as a Non-Executive Non-Independent Director.
• Statutory Auditor: Reappointment of M/s SSRV and Associates for a five-year term until the 44th AGM in 2031.
• Related Party Transactions: Approval for transactions with related parties, including Mr. Pratik Mehta and Mr. Kartik Mehta, up to ₹100 crore each. This covers goods supply, services, and property leasing from April 1, 2026, to September 30, 2027.

What the Numbers Show

Revenue growth outpaced profit expansion in FY26. While sales surged 267% to ₹6,023.8 lakh, net profit increased only 30% to ₹23.66 lakh. This divergence suggests margin compression or higher operational costs relative to the top-line expansion during the fiscal year.