Exhicon Events Media Solutions Limited shareholders approved all three ordinary resolutions at the company's 16th Annual General Meeting (AGM) held on September 24, 2026. The meeting saw unanimous voting in favor of adopting the FY26 financial statements and re-appointing key governance roles.

The AGM, conducted through remote e-voting and physical ballot papers, resulted in a 100% approval rate for every agenda item. No votes were cast against any resolution, indicating strong shareholder consensus on the proposed actions. The scrutinizer's report confirmed that all resolutions passed with the requisite majority under the Companies Act, 2013, and SEBI Listing Regulations.

Key Resolutions Passed

The shareholders considered and approved the following three ordinary business items:

1. Adoption of audited standalone and consolidated financial statements for the financial year ended March 31, 2026.
2. Re-appointment of Padma Mishra as Whole Time Director, who retired by rotation.
3. Re-appointment of Bilimoria Mehta & Co., Chartered Accountants, as Statutory Auditors for a five-year term ending in FY31.

Voting Participation Breakdown

The voting results highlight a significant concentration of votes among the promoter group, particularly for the adoption of financial statements. Public non-institutional investors participated in lower numbers across all resolutions.

What the Numbers Show

A divergence in voter turnout is evident when comparing the re-appointment of the Whole Time Director against other agenda items. For the financial statements and auditor re-appointment, total valid votes polled stood at 5,208,367. However, for the re-appointment of Padma Mishra, the total valid votes dropped to 3,092,578.

This decrease is primarily driven by reduced participation from the Promoter and Promoter Group. In the first and third resolutions, promoters voted 5,045,867 shares via poll. For the second resolution (director re-appointment), promoter votes via poll fell to 2,930,078 shares. Public non-institutional participation remained constant at 162,500 shares across all three resolutions, suggesting that the variation in turnout was entirely attributable to the promoter group's voting behavior.

Exhicon Events Media Solutions Limited reported a 40.25% year-on-year increase in consolidated total revenue to ₹205.46 crore for FY26, driven by robust growth in its exhibition and infrastructure businesses. Profit after tax rose 49.54% to ₹45.24 crore, reflecting significant operating leverage as the company transitions from an asset-light model to owning and operating major venues.

The financial performance was detailed in the Chairman's address at the 16th Annual General Meeting held on September 24, 2026. The meeting also adopted the audited standalone and consolidated financial statements for the fiscal year ended March 31, 2026, and approved the re-appointment of Ms. Padma Mishra as Whole Time Director and M/s. Bilimoria Mehta & Co. as statutory auditors for a five-year term.

Financial performance and balance sheet strength

Exhicon delivered its strongest financial year to date, with profitability outpacing revenue growth. Consolidated revenue from operations grew 41.24% to ₹202.70 crore. The balance sheet strengthened significantly, with consolidated net worth expanding 72.52% to ₹212.25 crore and total assets rising 85.34% to ₹264.26 crore. Cash and bank balances surged 144.39% to ₹28.57 crore, while Earnings Per Share (EPS) grew 37.4%.

Strategic shift to Venue-as-a-Service

The company is executing a deliberate shift toward a Venue-as-a-Service (VAS) model, combining design and construction with long-term Operations & Maintenance revenue. This approach generates two distinct income streams: upfront execution revenue and recurring annuity-like O&M income. Exhicon’s development pipeline now spans nearly 1.25 lakh square metres of venue infrastructure across India, including Pune, Mohali, Greater Noida, Indore, Nashik, Ayodhya, and Delhi-NCR. This portfolio represents approximately 25% of India's total operational indoor exhibition capacity.

Key projects include the Messe Global Convention Centre in Pune, which is fully operational, and the Mohali Convention & Exhibition Centre, a 21-acre Public-Private Partnership project with the Government of Punjab. The company also secured mandates for the India Expo Centre expansion in Greater Noida and the Bharat Mobility Global Expo 2027 in New Delhi.

Governance updates and capital raising

During the AGM, shareholders approved the re-appointment of Bilimoria Mehta & Co. as statutory auditors until the conclusion of the AGM for the fiscal year ending March 31, 2031. The firm holds Peer Review Certificate No. 017167 and serves listed companies across media, technology, and manufacturing sectors.

To fund its scale-up, the Board approved a preferential warrant issue of approximately ₹23.95 crore to the promoter, which will raise promoter holding to roughly 50.99% post-issue. Additionally, the company has initiated migration of its listing from the BSE SME platform to the Main Board of BSE and NSE, subject to SEBI approval.

Diversification into aviation and lifestyle sectors

Exhicon is diversifying beyond core events through its subsidiary, United Helicharters Private Limited, which received its DGCA Air Operator Permit in February 2026 and won the Kedarnath helicopter shuttle contract. The company also operates Pinewoods Golf Club, managing two golf courses in Pune, and has entered an exclusive partnership with ICICI Lombard General Insurance for exhibition risk cover.

What the Numbers Show

The divergence between revenue growth (40.25%) and net worth growth (72.52%) indicates that Exhicon is retaining a substantial portion of its earnings to fund capital-intensive infrastructure projects rather than distributing them. This retention strategy, coupled with the surge in cash balances (144.39%), provides the liquidity necessary to execute the large-scale PPP and BOT projects disclosed in the pipeline, reducing reliance on external debt for immediate construction costs.