Khaitan (India) Limited has scheduled its 89th Annual General Meeting for September 25, 2026. The event will be conducted through video conferencing or other audio-visual means.

The Board of Directors approved the convening of the meeting during its session on August 29, 2026. The board also considered and approved the Director's Report for the financial year ended March 31, 2026. This report includes the Corporate Governance Report, Management Discussion and Analysis, and Secretarial Audit Report.

Book Closure and Voting Details

The company fixed the book closure period from September 19, 2026, to September 25, 2026, inclusive of both days. The cut-off record date for e-voting is set as September 18, 2026.

Central Depository Services (India) Limited (CDSL) was appointed as the e-voting agency. Mr. Gouri Shanker Mishra, Partner at BGS Mishra & Associates, serves as the Scrutinizer for remote and venue voting.

Board Resignation

The board took on record the resignation letter tendered by Mr. Chandra Nath Banerjee, Company Secretary and Compliance Officer. He will be relieved from his duties on September 6, 2026, which marks his last working day.

Other Agenda Items

The board approved all items to be included in the AGM Notice. These include the re-appointment of an independent director and any other special businesses as per applicable laws. The meeting commenced at 3:00 pm and concluded at 4:00 pm.

Khaitan (India) Limited reported a net profit of ₹243.79 lakh for the quarter ended June 30, 2026, marking a 56% year-on-year increase from ₹156.39 lakh in Q1FY26. The company’s revenue from operations rose 39.8% to ₹4145.34 lakh, driven primarily by robust growth in its Electrical Goods segment. This performance highlights the resilience of its core trading business, which continues to offset operational challenges and accumulated losses in its suspended sugar division.

The Board of Directors approved the unaudited financial results on July 31, 2026, pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. K. C. Bhattacharjee & Paul LLP, the statutory auditors, issued a limited review report with a qualified conclusion. The qualification arises from the company’s treatment of its suspended sugar mill operations as continuing rather than discontinued, despite long-term production halts.

Financial Performance Highlights

Total expenses stood at ₹3918.04 lakh, up from ₹2817.71 lakh in the prior year period. Purchases of trading goods increased to ₹3334.58 lakh from ₹2311.28 lakh, reflecting higher inventory build-up to support sales growth. Employee benefits expense remained stable at ₹203.97 lakh, while finance costs decreased slightly to ₹30.77 lakh from ₹43.32 lakh.

Segment-wise Analysis

The Electrical Goods segment contributed ₹4140.64 lakh to total revenue, accounting for over 99% of the company’s turnover. Segment profit before finance costs and taxes was ₹273.89 lakh, compared to ₹212.23 lakh in Q1FY26. In contrast, the Sugar segment recorded a loss of ₹5.05 lakh, continuing its pattern of negative contribution due to suspended production. The Agriculture segment generated minimal revenue of ₹4.70 lakh with a segment result of ₹2.36 lakh.

What the Numbers Show

The divergence between top-line growth and margin stability indicates efficient cost management despite higher input costs. While revenue surged nearly 40%, employee benefits and depreciation expenses remained contained, allowing profit before tax to grow at a comparable rate. However, the persistent loss in the Sugar division highlights an unresolved structural issue that continues to drag on overall group profitability. Management’s refusal to classify this unit as discontinued operations, despite auditor objections, suggests strategic intent to revive the asset rather than write it down—a stance that carries both potential upside and balance sheet risk.

Auditor Qualification and Management Response

K. C. Bhattacharjee & Paul LLP noted that assets, liabilities, and expenses related to the sugar mill should have been disclosed under Discontinued Operations per Ind AS standards. The qualification has appeared consistently since Q1FY25. Management maintains that revival options are being explored, including securing short-term and long-term capital, and asserts that the realizable value of property, plant, and equipment remains above carrying value. No impairment provision was made during the quarter.

Trade receivables, payables, loans, and advances remain subject to reconciliation and confirmation, as highlighted in the emphasis of matter paragraph. Consolidated results, which include subsidiaries Khaitan Fan and Appliances Ltd. and Khaitan Strategies Ltd., mirrored standalone figures closely, with consolidated net profit at ₹243.73 lakh.