HLV Limited has scheduled its 45th Annual General Meeting (AGM) for Thursday, August 27, 2026, at 11:30 a.m. (IST). The meeting will be conducted exclusively through Video Conferencing or Other Audio Visual Means (VC/OAVM), in compliance with the Companies Act, 2013, SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, and Secretarial Standard on General Meetings (SS-2). This virtual format ensures accessibility for shareholders while adhering to regulatory guidelines issued by the Ministry of Corporate Affairs (MCA) and the Securities and Exchange Board of India (SEBI).

The company has appointed National Securities Depository Limited (NSDL) to facilitate remote e-voting. The e-voting window opens on Monday, August 24, 2026, at 9:00 a.m. IST and closes on Wednesday, August 26, 2026, at 5:00 p.m. IST. Only members holding shares as of the cut-off date, Thursday, August 20, 2026, are entitled to vote. RAAM & Associates LLP has been appointed as the Scrutinizer to oversee the e-voting process, ensuring integrity and compliance. Results will be published on the company’s website within two working days of the AGM.

To participate in the AGM or cast votes remotely, shareholders must register their email addresses with the Registrar & Transfer Agent (RTA) or Depository Participants (DPs). The Annual Report for FY25-26, along with the AGM notice, was dispatched electronically on August 4, 2026, to registered email addresses. Shareholders without registered emails received a letter containing web-links to access the documents. Physical and demat holders can register by submitting required identification proofs, including PAN and Aadhaar cards, via email to investor.service@hlvltd.com .

The Register of Members and Share Transfer Books will remain closed from Friday, August 21, 2026, to Thursday, August 27, 2026, inclusive. This closure facilitates the determination of shareholders entitled to attend and vote at the meeting. Any person acquiring shares after the dispatch of the notice but holding them on the cut-off date may obtain login credentials by contacting NSDL at evoting@nsdl.com or calling 022-4886 7000.

Shareholders are advised to review the Frequently Asked Questions (FAQs) and user manuals available on www.evoting.nsdl.com for detailed instructions on joining the VC/OAVM session and casting votes. Once a vote is cast remotely, it cannot be changed or recast during the meeting. Members who have already voted remotely may attend the meeting electronically but will not be permitted to vote again.

HLV Limited reported a sharp contraction in profitability for the financial year ended March 31, 2026 (FY26), with net profit after tax falling 92.04% to ₹207.99 lakh from ₹2,612.47 lakh in FY25. The steep decline was primarily driven by an exceptional loss of ₹303.42 lakh, stemming from the statutory impact of new Labour Codes and unutilized GST input credits. Despite the profit drop, the company’s operating performance showed resilience in pricing power, with average room rates rising over 12%. However, total revenue from operations dipped marginally to ₹20,091.50 lakh from ₹20,331.09 lakh, reflecting a decline in occupancy rates and food & beverage sales. The Board of Directors decided to retain the entire profit to adjust against accumulated losses and did not recommend any dividend for FY26.

The financial results were submitted to BSE Limited and National Stock Exchange of India Limited on August 4, 2026, pursuant to Regulation 34(1) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The statutory auditor, N. S. Shetty & Co., issued an unqualified opinion but highlighted matters related to going concern and contingent liabilities, particularly regarding ongoing disputes with the Airports Authority of India (AAI). The Secretarial Audit Report by RAAM & Associates LLP confirmed compliance with applicable laws and secretarial standards.

Operational Performance

Despite lower overall revenue, the hotel segment demonstrated strong pricing strength. Average Room Rate (ARR) improved by over 12% to ₹12,469 from ₹11,170 in FY25. Consequently, Revenue Per Available Room (RevPAR) rose to ₹8,602 from ₹8,242. Total rooms revenue increased to ₹124.96 crore from ₹119.29 crore. However, occupancy rates declined to 69% from 73.80%. Food & Beverages revenue dropped by 12.56%, offsetting gains in room revenue. Employee benefit expenses increased by 1.79% to ₹6,045.84 lakh.

What the Numbers Show

The divergence between operational efficiency and bottom-line results is stark. While ARR growth indicates strong demand for premium stays, the 92% plunge in net profit underscores the impact of non-operational factors. The exceptional loss of ₹303.42 lakh, largely due to the statutory impact of new Labour Codes and unutilized GST input credits, severely eroded profits. Additionally, the rise in finance costs to ₹312.60 lakh from ₹222.62 lakh and depreciation to ₹1,940.06 lakh from ₹1,564.42 lakh suggests increased leverage or asset base maintenance costs. The debt-equity ratio improved slightly to 0.075 from 0.088, indicating a healthier capital structure, but the return on equity plummeted to 0.44% from 5.73%.

Litigations and Contingent Liabilities

The company faces significant legal challenges that could impact future cash flows. A dispute with the Airports Authority of India (AAI) regarding lease rentals and royalty continues, with disputed amounts totaling ₹17,552 lakh for 18,000 sq. meters of land and ₹80,705 lakh for 11,000 sq. meters. The Bombay High Court directed parties to approach the Eviction Officer and Arbitrator separately. Another pending litigation involves ITC Limited regarding the sale of undertakings to Brookfield, which is currently before the Supreme Court. These contingent liabilities are not provided for in the financial statements as they are disputed.

The 45th Annual General Meeting is scheduled for August 27, 2026, via Video Conferencing/Other Audio Visual Means (VC/OAVM). Shareholders will vote on the re-appointment of Ms. Amruda Nair as a Non-Executive Director liable to retire by rotation. Remote e-voting will be available from August 24, 2026, to August 26, 2026.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE102A01024/5dde857d-6899-4127-98c3-bc7d3218e2e8.pdf