Jetking Infotrain reports FY26 loss, schedules e-voting

Jetking Infotrain Limited reported a net loss of ₹134.36 lakh for the financial year ended March 31, 2026, reversing the net profit of ₹342.69 lakh recorded in the previous year. The company's revenue from operations for FY26 stood at ₹2,222.07 lakh, marginally higher than ₹2,177.86 lakh in FY25, while total expenses increased to ₹2,787.88 lakh from ₹2,431.24 lakh. The board approved the audited standalone and consolidated financial results for the year at a meeting held on May 28, 2026.

Postal Ballot for Re-appointment

The board has initiated a postal ballot process to seek shareholder approval for the re-appointment of Mr. Harsh Bharwani as Managing Director & CEO for a period of three years, effective from August 31, 2026, to August 30, 2029. The resolution requires a special resolution. Mr. Bharwani, who holds 5,28,118 equity shares, brings over 22 years of experience and currently oversees Jetking's India and Overseas Operations.

E-Voting Schedule

Shareholders can cast their votes remotely through e-voting. The schedule for the postal ballot process is as follows:

Particulars	Date
Cut-off date for sending notice	Monday, May 25, 2026
E-voting commencement	Monday, June 01, 2026 at 09:00 a.m.
E-voting end date	Tuesday, June 30, 2026 at 05:00 p.m.
Declaration of results	On or before Thursday, July 02, 2026

The company has appointed M/s. MUFG Intime India Private Limited to provide the remote e-voting facility and Mr. Mihen Halani as the Scrutinizer.

Remuneration Details

The proposed remuneration for Mr. Harsh Bharwani includes a basic salary of ₹82,00,000 per annum and perquisites up to ₹10,00,000 per annum, with a total ceiling of ₹92,00,000 per annum. The remuneration package covers rent-free accommodation, leave travel allowance, medical reimbursements, and other allowances as per company policy.

Financial and Regulatory Disclosures

For the quarter ended March 31, 2026, the company reported a net loss of ₹253.86 lakh on a total income of ₹503.84 lakh. The statutory auditors, M/s. PYS & Co LLP, issued an unmodified opinion on the financial results but highlighted an amount of ₹36.77 lakh recoverable from a Broker/Sub-broker regarding an unauthorized trade, which is under appeal. The Securities Appellate Tribunal dismissed an appeal regarding the listing of shares allotted via preferential issue, which the company stated has no material impact on the financial results.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-4.98%	+0.73%	-18.41%	-28.78%	-19.90%	+177.76%

Jetking Infotrain Limited has announced that the Securities Appellate Tribunal (SAT), Mumbai, has dismissed an appeal filed by the company regarding the rejection of its listing application by the BSE. The order, dated May 8, 2026, pertains to Appeal No. 474 of 2025 and was made available to the company on the same date. The tribunal's decision effectively upholds the stock exchange's refusal to list shares issued through a preferential allotment.

The background of the case involves a preferential issue of shares for which the company had sought a listing. The BSE had rejected this application, prompting Jetking Infotrain to approach the SAT. In its order, the SAT identified specific non-compliances that led to the dismissal of the appeal. The tribunal noted that the company utilized the proceeds from the preferential issue to invest in Virtual Digital Assets (VDAs) before the Registrar of Companies (RoC) certified the second amendment to the Memorandum of Association (MoA), which permitted such investments. The RoC certified this amendment on July 7, 2025.

Furthermore, the SAT found that the company did not disclose the first MoA amendment to the BSE before obtaining in-principle approval or while filing the listing application on June 10, 2025. These actions were held to be ultra vires the MoA as it existed at the relevant time. Consequently, the appeal was dismissed, and the rejection of the listing application stands.

The following table summarizes the key details of the SAT order and the implications for the company:

Particulars	Details
Name of Company	Jetking Infotrain Limited
Type of Communication	Order dated May 8, 2026 passed by the Hon'ble Securities Appellate Tribunal (SAT), Mumbai in Appeal filed by the Company under Section 22A of the Securities Contracts (Regulation) Act, 1956.
Date of Receipt	May 8, 2026
Applicability Period	Effective from May 8, 2026. No specific prospective applicability period stated.
Financial Implications	The order upholds the BSE's rejection of the listing application for the preferential allotment shares. Consequently, these shares cannot be listed on BSE at this stage.
Non-Compliances Identified	Utilised preferential issue proceeds to invest in VDAs prior to RoC certification of MoA amendment; did not disclose the first MoA amendment to BSE prior to obtaining in-principle approval or filing the listing application.
Penalty or Sanction	No monetary penalty or fine imposed. The dismissal upholds the BSE rejection. No order as to costs.

Regarding the financial impact, the company stated that the order upholds the BSE's rejection, meaning the shares allotted pursuant to the preferential issue cannot be listed on the exchange at this stage. Jetking Infotrain is currently evaluating the financial and legal implications of the order. The company has confirmed that no monetary penalty or fine has been imposed by the SAT, nor was there an order regarding costs.

In response to the order, Jetking Infotrain stated that it is evaluating the implications of the SAT decision, including the available legal remedies in accordance with the law. The company has assured that any further material developments in this matter will be disclosed to the public in compliance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.