Ind-Agiv Commerce has scheduled its 40th Annual General Meeting (AGM) for Wednesday, September 30, 2026. The Board of Directors approved the date during a meeting held on September 7, 2026.

The AGM will commence at 11:30 am at the company’s registered office in Mumbai. Shareholders can attend through Video Conferencing or Other Audio Visual Means.

Key Dates and Logistics

The board fixed several critical dates for the financial year ended March 31, 2026. These timelines govern the dispatch of reports and shareholder voting rights.

Scrutinizer Appointment

The Board appointed CS Alifya Sapatwala as the scrutinizer for the meeting. She is a partner at M/s. Mehta & Mehta, Practicing Company Secretaries.

The Board meeting concluded at 1:00 pm following the approval of these logistical arrangements.

Ind-Agiv Commerce Limited reported a consolidated net loss of ₹125.86 lakh for the quarter ended March 31, 2026, widening from a loss of ₹1.72 lakh in the same period last year. The company’s auditors issued a qualified opinion on the financial statements, citing significant concerns over unprovided interest costs and the reliability of accounting records.

The board of directors approved the standalone and consolidated audited annual results for FY26 on August 27, 2026. Standalone revenue from operations stood at ₹245 lakh for the full year, down from ₹353.15 lakh in FY25. Consolidated revenue was ₹257.71 lakh, compared to ₹389.72 lakh in the prior fiscal year.

Auditor Qualifications and Liabilities

Independent auditors H. G. Sarvaiya & Co. highlighted two primary bases for their qualified conclusion. First, they noted inconsistencies in opening and closing balances, inventory accounting, and asset capitalization due to the use of multiple ERP applications without operative audit trails. Second, the company did not provide for interest and penal charges aggregating ₹35.07 lakh on delayed borrowings from banks and non-banking financial companies as of March 31, 2026.

The auditors stated that finance costs and current liabilities are understated by this amount, resulting in an overstated profit for the period. Management views suggest these matters are under arbitration or restructuring, with some liabilities potentially being waived.

What the Numbers Show

The company’s cash position deteriorated significantly during FY26. Cash and cash equivalents fell from ₹65 lakh at the beginning of the year to just ₹27 lakh by year-end. This decline occurred despite a preferential issue of shares that raised ₹596 lakh in financing activities. Operating activities consumed ₹611 lakh in cash, driven largely by increases in sundry debtors (₹736 lakh) and other financial liabilities (₹475 lakh), signaling substantial working capital pressure.

Financial Performance Overview

Consolidated net loss narrowed to ₹125.86 lakh from ₹189.63 lakh in FY25. However, this improvement was partly driven by exceptional items totaling ₹76.57 lakh in both standalone and consolidated results. Without these exceptional gains, the underlying operational losses would have been deeper.

Balance Sheet and Legal Status

Total assets declined to ₹1,762 lakh (standalone) and ₹1,960 lakh (consolidated) as of March 31, 2026, from ₹2,775 lakh and ₹3,032 lakh respectively in FY25. Trade receivables dropped sharply to ₹219 lakh from ₹956 lakh in the standalone balance sheet.

The auditors emphasized that statutory dues aggregating ₹17.89 lakh (standalone) and ₹19.24 lakh (consolidated) remained unpaid despite being provided for in the books. Additionally, borrowings from Redfort Capital Finance Company Private Limited have been classified as non-performing assets, with legal proceedings pending before the Arbitral Tribunal under the directions of the Delhi High Court.