Keerthi Industries Limited has scheduled its 43rd Annual General Meeting (AGM) for September 24, 2026. The meeting will be conducted through Video Conferencing or Other Audio-Visual Means (VC/OAVM) in compliance with Ministry of Corporate Affairs guidelines.

Meeting Agenda

The primary business to be transacted includes the adoption of the audited financial statements for the fiscal year ended March 31, 2026. Shareholders will also vote on the re-appointment of Mr. Venkata Krishna Jasti as a director, who retires by rotation.

Cost Auditor Ratification

A special resolution seeks shareholder ratification for the remuneration of M/s. Vasireddy & Associates, Cost Accountants, Hyderabad. The proposed fee is ₹55,000 plus reimbursement of out-of-pocket expenses and applicable GST for the financial year 2026-27. This appointment was recommended by the Audit Committee and approved by the Board of Directors in their meeting held on May 27, 2026.

Director Profile

Mr. Venkata Krishna Jasti, a Non-Executive Director, holds a PhD in Mechanical Engineering from Carnegie Mellon University. He is the son of Mr. J. S. Rao, Managing Director, and Mrs. Triveni Jasti, Whole Time Director. As of March 31, 2026, he holds 87,347 equity shares, representing 1.09% of the paid-up equity share capital. He attended all six board meetings during FY26.

Voting and Participation Details

Members holding shares as of the cut-off date can cast votes electronically via the Central Depository Services (India) Limited platform. Physical attendance is not permitted, and proxy appointments are not available for this virtual meeting.

Keerthi Industries reported a net loss of ₹7.14 crore for the quarter ended June 30, 2026, compared to a loss of ₹2.39 crore in the corresponding period of FY26. The decline was driven by a sharp contraction in revenue and ongoing operational challenges in the cement sector.

The company suspended its operations temporarily with effect from June 12, 2026, due to prevailing adverse market conditions and an unfavourable business environment. Management intends to recommence operations once conditions improve and activities become commercially viable.

Financial Performance

Revenue from operations fell 37.5% year-on-year to ₹19.11 crore from ₹30.58 crore in Q1FY26. Total income stood at ₹19.23 crore, against total expenses of ₹26.11 crore. The loss before tax from continuing operations widened to ₹6.87 crore from ₹4.02 crore in the prior year period.

The full-year FY26 audited results showed a net loss of ₹15.29 crore, which included a gain of ₹7.92 crore from discontinued operations following the slump sale of the Electronic Division to Hyderabad Bottling Co. Pvt. Ltd. for ₹36 crore in March 2026.

Balance Sheet & Going Concern

As of June 30, 2026, current liabilities exceeded current assets by ₹57.40 crore. The company has experienced delays in payments to certain overdue creditors. Independent auditors Brahmayya & Co. highlighted a material uncertainty related to going concern, noting that the financial statements are prepared on a going concern basis despite these deficits.

Management stated that losses are temporary, attributing them to lower operating volumes and industry conditions. Initiatives include monetizing non-core assets, such as sugar land disposal, and exploring funding avenues from financial institutions.

Board Actions & Executive Pay Cuts

The Board approved the unaudited results on August 14, 2026, and scheduled the 43rd Annual General Meeting for September 24, 2026. In response to financial distress, top executives agreed to significant remuneration waivers effective April 1, 2026:

• Managing Director J.S. Rao waived ₹8 lakh per month, reducing his salary to ₹2 lakh per month.
• Chairperson Triveni Jasti waived ₹9 lakh per month, reducing her salary to ₹1 lakh per month.

These reductions will continue until there is an improvement in the company's financial condition. The Board also appointed M/s VCSR & Associates as scrutinizers for the AGM's remote e-voting procedure.