Jagan Lamps held its 34th Annual General Meeting on September 30, 2026. Shareholders adopted the audited financial statements for the fiscal year ended March 31, 2026, and approved key board appointments.

The meeting commenced at 10:00 am and concluded at 10:28 am at the company's registered office in Sonipat, Haryana. Chairman and Managing Director Ashish Aggarwal chaired the proceedings. The quorum was met with 32 attendees representing both promoter and public categories out of 7,402 total shareholders on record as of September 23, 2026.

Board appointments and resolutions

Shareholders passed three resolutions via ballot paper voting. The ordinary business included the adoption of financial statements and the appointment of Raghav Aggarwal as a Director liable to retire by rotation. Special business involved the re-appointment of Shweta Nathani as an Independent Director.

Attendance and governance details

The following directors were present during the meeting:

• Ashish Aggarwal, Chairman & Managing Director
• Rekha Aggarwal, Non-Executive Director & CFO
• Raghav Aggarwal, Executive Director
• Saras Kumar, Non-Executive & Independent Director
• Shweta Nathani, Non-Executive & Independent Director

Hardik Gujar served as the Company Secretary and Compliance Officer. The statutory auditor was represented by Vijay Khatri from KASG & Co., while Mehak Gupta & Associates acted as the scrutinizer for the voting process. Remote e-voting facilities were available from September 27 to September 29, 2026, prior to the physical meeting.

What the numbers show

The low attendance count of 32 individuals against a shareholder base of 7,402 highlights a highly concentrated ownership structure or low retail participation in governance matters. With only four promoters and 27 public shareholders present in person, decision-making power remains tightly held within the promoter group, which accounted for five attendees including proxies.

Jagan Lamps reported a 15.6% decline in operating revenue for FY26, driven by geopolitical disruptions. The company's 34th Annual General Meeting (AGM) will be held on September 30, 2026.

Operating revenue fell to ₹4,204.01 lakh from ₹4,979.72 lakh in the previous year. Profit after tax (PAT) contracted 32.5% to ₹191.62 lakh, down from ₹283.72 lakh. Profit before tax (PBT) decreased 31.3% to ₹258.01 lakh.

Financial Performance

The company attributed the revenue decline to "Geo International Politics" affecting global supply chains. Despite the top-line contraction, management noted an increase in customer partnerships worldwide.

Total expenses reduced to ₹3,982.35 lakh from ₹4,662.79 lakh. Other income declined to ₹36.35 lakh from ₹58.65 lakh.

What the Numbers Show

The divergence between the revenue decline (-15.6%) and the sharper drop in PAT (-32.5%) indicates significant margin compression. While cost of material consumed fell proportionally with sales, fixed costs such as employee benefits (₹445.43 lakh) and depreciation (₹139.68 lakh) remained relatively stable, eroding profitability faster than top-line growth.

Balance Sheet Signals

Borrowings dropped significantly to ₹407.89 lakh from ₹947.60 lakh, reducing the debt-to-equity ratio to 0.12 from 0.28. However, trade payables increased to ₹843.56 lakh from ₹681.09 lakh, suggesting extended payment terms with suppliers amidst working capital adjustments.

Board Appointments

Shareholders will vote on the re-appointment of Mr. Raghav Aggarwal as a director liable to retire by rotation. Additionally, Mrs. Shweta Nathani will be considered for re-appointment as an Independent Director for a second five-year term, effective May 3, 2026.

E-Voting Schedule

Remote e-voting via NSDL will be open from September 27, 2026, at 9:00 am to September 29, 2026, at 5:00 pm. The cut-off date for eligibility is September 23, 2026. The notice and annual report were dispatched on August 24, 2026.