Global Infratech & Finance shareholders approved a Qualified Institutional Placement (QIP) and reappointed Managing Director V S Amarnath at the company’s 31st Annual General Meeting held on September 16, 2026.

The meeting was conducted via video conferencing. Thirty-two members attended, satisfying quorum requirements under Section 103 of the Companies Act, 2013. V S Amarnath, Chairman and Whole-Time Director, presided over the proceedings.

Key Resolutions

Members voted on three primary items of business. The ordinary business included the approval of the audited standalone financial statements for the fiscal year ended March 31, 2026. Additionally, shareholders approved the reappointment of Mr. V S Amarnath, who retires by rotation and offered himself for re-election.

The special business item involved raising capital through a Qualified Institutional Placement. This move indicates the company’s intent to strengthen its capital base or fund specific projects through institutional investors.

Voting Results

The company facilitated remote e-voting from 9:00 am on September 13, 2026, until 5:00 pm on September 15, 2026. The e-voting services were provided by National Securities Depository Ltd. (NSDL). Five members registered as speakers, with one appearing via video conference to raise queries. Mrs. Kriti Daga, a practicing company secretary, served as the scrutinizer for the voting process.

Members who had not voted remotely were also provided the facility to cast their votes electronically during the AGM, up to 1:00 pm. The scrutinizer report confirmed that all resolutions were passed with requisite majority. No physical ballots were received, and no votes were cast via poll ballot during the meeting. The cut-off date for voting entitlements was September 9, 2026.

Resolution Details

A total of 14 members participated in the e-voting process in favor of the resolutions, representing 1,150,020 votes. Six members voted against, casting six votes each. There were no invalid votes recorded. The total number of shareholders as on the record date was 5,717.

Global Infratech & Finance Limited filed its revised annual report for the fiscal year ended March 31, 2026 (FY26) with the Bombay Stock Exchange (BSE) on August 23, 2026. The filing confirms that there are no changes to the Balance Sheet or Statement of Profit & Loss figures previously reported, but notes that changes have been carried out in the numbering of Notes to Accounts.

The company's Board of Directors had earlier approved raising funds through a Qualified Institutional Placement (QIP). While the initial approval cited an amount up to ₹2.00 crore, the revised special resolution in the AGM notice specifies the aggregate amount not exceeding ₹1.18958 crore (Rupees One Crore Eighteen Lakh Ninety Five Thousand Eight Hundred). The funds are intended to support compliance with minimum public shareholding requirements post-Corporate Insolvency Resolution Process (CIRP), strengthen the capital structure, and meet working capital needs.

Financial Performance

Total revenue for FY26 stood at ₹151.15 lakh, a sharp decline from ₹1,915.66 lakh in FY25. The profit before tax was a loss of ₹81.42 lakh, compared to a loss of ₹327.43 lakh in the preceding year. No dividend was proposed for the year under review due to accumulated losses.

Capital Structure and QIP

The paid-up equity share capital as on March 31, 2026, was ₹141.44 lakh, following a reduction from ₹26.24 crore to ₹1.41 crore as per the NCLT order dated October 25, 2024. The reduction involved converting one equity share for every 100 equity shares held by shareholders as of February 25, 2025.

The equity shares issued under the revised QIP will rank pari-passu with existing shares. The relevant date for pricing will be the date the Board decides to open the proposed QIP.

AGM and Governance

The 31st AGM is scheduled for September 16, 2026, at 12:15 pm, to be conducted via Video Conference or Other Audio-Visual Means (VC/OAVM). The book closure period is from September 10, 2026, to September 16, 2026. Newspaper advertisements pertaining to the meeting were published in English and Marathi newspapers on August 22, 2026.

Mr. V S Amarnath (DIN: 07642585) retires by rotation and has offered himself for re-appointment as Managing Director. The board also appointed Mrs. Kriti Daga as the Scrutinizer for the e-voting process. Internal auditors were appointed for the period starting October 1, 2026.

What the Numbers Show

The significant contraction in revenue from ₹1,915.66 lakh in FY25 to ₹151.15 lakh in FY26 highlights the transitional phase of the company post-insolvency resolution. While the top-line decline is steep, the narrowing of the net loss from ₹327.43 lakh to ₹81.42 lakh indicates improved cost management and operational efficiency during the restructuring period.