Khyati Multimedia Entertainment Ltd shareholders approved all resolutions at the 32nd Annual General Meeting held on September 28, 2026. The meeting concluded swiftly, lasting only 30 minutes from start to finish.

The meeting, conducted at the company's registered office in Ahmedabad, was chaired by Radheshyam Rampal Patel, Whole Time Director. A total of 38 members attended in person or through proxies. Voting was conducted via a dual mechanism of physical polling and remote e-voting, with results submitted to stock exchanges in compliance with SEBI (LODR) Regulations.

Meeting Proceedings and Attendance

The AGM commenced at 2:00 pm and concluded at 2:30 pm. Key personnel present included Praful J Agarwal, Non-Executive Director; Rajesh Chinubhai Sutaria, Non-Promoter Non-Executive Independent Director and Chairman of the Audit Committee; Deepa Gidwani, Chief Financial Officer; and Ripal Sukhadia, Company Secretary. Kamlesh M Shah, Practicing Company Secretary, served as the Scrutinizer.

The Chairman noted that no requests were received from shareholders for physical copies of the Annual Report prior to the meeting date. Statutory registers were made available for inspection in soft copy format via a laptop placed at the Chairman's table.

Key Resolutions Passed

The following ordinary and special resolutions were passed by the shareholders:

1. Adoption of Financial Statements: The audited financial statements for FY26, along with reports from the auditors, directors, and secretarial auditors, were received, considered, and adopted.
2. Director Reappointment: Kartik Jasubhai Patel was reappointed as Director of the company, having retired by rotation.
3. Auditor Appointment: M/s. MAAK And Associates, Chartered Accountants, were appointed as statutory auditors for the period from April 1, 2026, to March 31, 2030. Kartik Jasubhai Patel, Managing Director, was authorized to fix their remuneration in consultation with the auditors.
4. Related Party Transactions: A special resolution granted omnibus approval to the Board of Directors to enter into related party transactions under Section 188 of the Companies Act, 2013, regardless of whether such transactions are on an arm's length basis or not.

Voting Results Breakdown

The consolidated report by Kamlesh M Shah & Co., Practicing Company Secretary, provides a detailed breakdown of votes cast for each resolution. The table below summarizes the support and opposition levels across the key items.

What the Numbers Show

A distinct divergence appears in shareholder sentiment regarding governance matters. While routine administrative resolutions like financial statement adoption and director reappointment faced minimal opposition (7.03%), the special resolution granting omnibus approval for related party transactions drew significantly higher dissent at 17.85%. This suggests that minority shareholders exercised caution regarding broad authorizations for transactions that may not be at arm's length, even though the resolution passed with the requisite majority for a special resolution.

Notably, five persons belonging to the promoter group did not vote on the related party transaction resolution, treating themselves as interested parties in accordance with Section 188 provisions. The remote e-voting platform recorded the bulk of the dissenting votes against the RPT resolution, with 59,312 votes cast against via e-voting compared to zero against votes from physical polling.

Khyati Multimedia Entertainment reported a net profit of ₹18.82 lakh for the financial year ended March 31, 2026, reversing a net loss of ₹91.44 lakh in the previous year. The turnaround was driven by a significant reduction in operating expenses rather than top-line growth.

Financial Performance

Revenue from operations declined sharply to ₹51.61 lakh from ₹186.68 lakh in FY25. This contraction coincided with a steep drop in total expenses, which fell to ₹21.84 lakh from ₹314.24 lakh in the prior period. The company’s profit before tax stood at ₹29.77 lakh, compared to a loss of ₹127.56 lakh previously.

The decline in revenue reflects the winding down of high-cost event management activities, specifically the Polo Championship, which had driven significant expenditure in FY25. Other income contributed ₹0.61 lakh, primarily from interest on tax refunds.

What the Numbers Show

The profitability reversal is largely structural rather than operational growth. In FY25, specific event-related costs—including ₹70.45 lakh for the Polo Cup, ₹17.88 lakh for marketing, and ₹19.19 lakh for labour—totaled over ₹100 lakh. These line items are absent in FY26, where professional fees also dropped from ₹84.99 lakh to ₹2.13 lakh. While this cost discipline delivered a bottom-line profit, it occurred alongside a 72% revenue contraction, indicating a shift toward a lower-scale business model.

Balance Sheet and Liabilities

Total assets increased to ₹349.47 lakh from ₹321.75 lakh, driven by a rise in trade receivables to ₹59.16 lakh from nil in the prior year. Borrowings from related parties decreased to ₹132.07 lakh from ₹155.37 lakh. However, other current liabilities rose to ₹85.00 lakh from ₹53.56 lakh, suggesting an increase in outstanding operational payables or deferred obligations.

Audit Qualifications

Statutory auditors M/s. Maak & Associates issued a qualified opinion citing four key concerns:

• Unregistered Land Advances: ₹208.75 lakh paid as advances against land lacks registered agreements or party confirmations.
• MoA Compliance: Revenue from sports events was recognized without amending the Memorandum of Association to include event management.
• Revenue Recognition: Lack of written contracts with sponsors and franchisees prevented verification of revenue timing under Ind AS 115.
• Deposit Rules: Customer advances exceeding ₹51 lakh remained outstanding for over 365 days, potentially violating deposit acceptance rules under the Companies Act.

Corporate Actions

The Board did not recommend a dividend for FY26. The 32nd Annual General Meeting is scheduled for September 28, 2026, to approve the audited financials and ratify related-party transactions totaling approximately ₹7.6 crore for the upcoming fiscal year.