Jindal Hotels has announced its 41st Annual General Meeting (AGM) for September 22, 2026. The meeting will address a material related-party transaction involving the acquisition of immovable property from company promoters.

The special business includes the purchase of 2,015 square metres of land in Vadodara, where the Grand Mercure Surya Palace is located. The transaction aims to consolidate ownership titles and eliminate lease uncertainties.

AGM Schedule and Logistics

The meeting will be held via Video Conferencing or Other Audio-Visual Means (VC/OAVM). Shareholders must hold shares on the register as of September 15, 2026, to participate and vote.

Key Agenda Items

Land Acquisition from Promoters

The most significant item on the agenda is the approval of a material related-party transaction. The company proposes to acquire land admeasuring 2,015 sq metres from Managing Director Mr. Piyush D. Shah and Non-Executive Director Ms. Chanda Agrawal.

The total consideration for the transaction is capped at ₹18.94 crore (₹18,93,80,000). This amount represents approximately 38.96% of the company's annual consolidated turnover for the preceding financial year. The valuation was determined by M/s. Hitesh Shah & Associates, registered government valuers, based on prevailing market prices and jantri values.

Currently, Jindal Hotels owns the superstructure on this land but holds it under a 30-year lease deed expiring in May 2030. Acquiring the freehold title will consolidate ownership of the entire property area (approx. 4,249 sq metres) and remove succession-related uncertainties associated with the lease.

Re-appointment of Directors

Shareholders will vote on the re-appointment of two directors:

• Mrs. Chanda Agrawal: Retiring by rotation, she seeks re-appointment as a Non-Executive Director. She holds 12.36% of the company's shares.
• Ms. Palak Gandhi: An Independent Director since July 2022, she seeks re-appointment for a second term of five years, from July 12, 2027, to July 11, 2032.

Voting Instructions

Remote e-voting begins on September 19, 2026, at 9:00 am and ends on September 21, 2026, at 5:00 pm. Shareholders holding shares on the cut-off date can cast votes electronically through NSDL, CDSL, or the InstaVote platform provided by MUFG Intime India Private Limited.

Jindal Hotels reported a net profit of ₹211.44 lakh for the financial year ended March 31, 2026, marking an 83% increase from the previous year’s ₹115.59 lakh. The improvement was driven by effective cost control and reduced finance expenses, even as total revenue remained flat at ₹4,872.13 lakh.

The company’s 41st Annual General Meeting is scheduled for September 22, 2026, where shareholders will approve the audited financial statements and reappoint directors.

Financial Performance

Revenue from operations stood at ₹4,857.65 lakh in FY26, up approximately 8% from ₹4,499.34 lakh in FY25. However, when combined with other income, total revenue decreased marginally to ₹4,872.13 lakh from ₹4,874.44 lakh, primarily due to a significant drop in other income.

Other income fell sharply to ₹14.48 lakh from ₹375.09 lakh in the prior year, largely because of a one-time insurance claim receipt of ₹356.60 lakh in FY25 that did not recur. Despite this, profit before depreciation, interest, and taxation (PBDIT) improved to ₹1,344.56 lakh from ₹1,189.91 lakh, reflecting better operational efficiency.

What the Numbers Show

The surge in profitability was not driven by top-line growth but by rigorous expense management. Finance costs dropped by ₹91.34 lakh to ₹396.41 lakh, while depreciation and amortization decreased slightly to ₹493.56 lakh. Additionally, the company recognized an exceptional expense of ₹79.11 lakh related to the impact of new labor codes, which reduced profit before tax to ₹375.48 lakh from ₹454.59 lakh before this adjustment. The effective tax rate increased, with total tax expense rising to ₹164.04 lakh from ₹86.03 lakh, partly due to deferred tax provisions.

Balance Sheet and Debt

Total borrowings declined to ₹4,759.66 lakh from ₹5,113.11 lakh in the previous year, indicating steady debt reduction. Long-term borrowings stood at ₹4,012.38 lakh, down from ₹4,456.62 lakh. The company maintained regular servicing of all borrowing obligations with no defaults reported.

Corporate Actions

Shareholders will vote on the reappointment of Mrs. Chanda Agrawal as a Non-Executive Director and Ms. Palak Gandhi as an Independent Director for a second term. The board also seeks approval for a material related-party transaction involving the acquisition of immovable property from promoters Mr. Piyush Shah and Ms. Chanda Agrawal for ₹18.94 crore, aimed at consolidating land ownership for its flagship hotel.

No dividend was recommended for FY26, with the board citing moderate profit levels and ongoing renovation projects requiring capital deployment.