Global Defence Industries , formerly known as Nibe Ordnance and Maritime Limited, has scheduled its 41st Annual General Meeting (AGM) for Tuesday, September 29, 2026, at 11:00 am via Video Conferencing (VC) or Other Audio-Visual Means (OAVM).

The meeting will be conducted in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and Ministry of Corporate Affairs regulations. Shareholders holding shares as on the cut-off date of Tuesday, September 22, 2026, are eligible to vote. The remote e-voting window opens on Saturday, September 26, 2026, at 9:00 am and closes on Monday, September 28, 2026, at 5:00 pm.

Key dates and timelines

The following dates are critical for shareholder participation and voting eligibility:

AGM agenda

The meeting will take up both ordinary and special business. Under ordinary business, members will consider the adoption of audited standalone and consolidated financial statements for the financial year ended March 31, 2026, along with the reports of the Board of Directors and auditors. The meeting will also consider the re-appointment of Mr. Ganesh Ramesh Nibe (DIN: 02932622) as a director retiring by rotation.

Under special business, shareholders will vote on the appointment of Mr. Ravi Kant (DIN: 09283919) as Whole-time Director for a period of 3 years commencing from February 12, 2026 to February 11, 2029. The resolution also specifies that Mr. Ravi Kant shall not be paid any sitting fees for attending Board or committee meetings. Additionally, the AGM will consider authorising the Board of Directors to borrow funds in excess of the limit specified under Section 180(1)(c) of the Companies Act, 2013.

Participation and documentation

The Notice of AGM and the Annual Report for FY26 will be sent electronically to shareholders who have registered their email addresses with the company, its Registrar and Share Transfer Agent, or their Depository Participants. For members whose email addresses are not registered, a letter will be sent providing a web link to access the AGM notice and Annual Report on the company's website. These documents will also be uploaded on the BSE website.

Members attending the AGM via VC/OAVM will be counted toward the quorum under Section 103 of the Companies Act, 2013. The venue of the meeting shall be deemed to be the registered office of the company at 202, C-Wing, Windfall, Sahar Plaza Complex, J B Nagar, Marol, M. V. Road, Andheri (East), Mumbai. Detailed instructions for accessing the virtual facility will be provided in the AGM notice.

Global Defence Industries Limited reported a consolidated net loss of ₹571.10 crore for the financial year ended March 31, 2026, a significant decline from the net profit of ₹114.40 crore recorded in the previous year. Revenue from operations surged to ₹4,279.39 crore in FY26 from ₹16.07 crore in FY25, driven by business expansion. The company's board approved the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, at a meeting held on May 27, 2026.

The statutory auditors, Kailash Chand Jain & Co., issued an audit report with an unmodified opinion on the financial results. However, the auditors included an emphasis of matter paragraph regarding Nibe Maritime Private Limited, a subsidiary, which reported a negative net worth of ₹83.22 lakh and current liabilities exceeding current assets as of March 31, 2026. The financial statements of this subsidiary have been prepared on a going concern basis based on management's assessment of future business prospects and expected financial support from promoters.

For the quarter ended March 31, 2026, the company reported a consolidated net loss of ₹426.01 crore. Total income for the quarter stood at ₹407.12 crore, while total expenses were ₹949.57 crore. On a standalone basis, the company reported a net loss of ₹164.18 crore for FY26, compared to a net profit of ₹11.30 crore in the previous year. Standalone revenue from operations for FY26 was ₹375.00 crore.

Consolidated Financial Results (FY26)

The board meeting commenced at 05:15 p.m. and concluded at 06:45 p.m. on May 27, 2026. The trading window for dealing in the company's securities, which was closed from April 01, 2026, will reopen 48 hours after the announcement of the financial results.