Kome-On Communication Ltd shareholders approved a significant increase in authorised share capital during its 33rd Annual General Meeting held on September 10, 2026. The company raised its authorised capital from ₹15,01,00,000 to ₹65,01,00,000, requiring consequential alterations to Clause V of the Memorandum of Association.

The resolution passed as an ordinary resolution alongside the adoption of audited financial statements for FY26. All four agenda items received overwhelming support from public non-institutional investors, with promoter and institutional holders abstaining from voting.

Key Resolutions Passed

The meeting, chaired by Executive Director Abhishek Kyal, transacted both ordinary and special business items via video conferencing/other audio-visual mode (VC/OAVM). Shareholders voted via remote e-voting and ballot during the session.

• Ordinary Business: Adoption of audited financial statements for the year ended March 31, 2026, including balance sheet, profit and loss account, and cash flow statement. Re-appointment of Abhishek Suresh Kyal as a director retiring by rotation.
• Special Business: Enhancement of limits for investments, loans, guarantees, and securities under Section 186 of the Companies Act, 2013.

Voting Process and Attendance

The e-voting window opened on September 7, 2026, at 9:00 am and closed on September 9, 2026, at 5:00 pm. Anuj Gupta, Company Secretary in Whole-Time Practice, served as the scrutinizer for the process. A total of 32 members attended the meeting, satisfying the quorum requirements. The cut-off date for voting eligibility was September 3, 2026.

The meeting concluded at 12:24 pm with all agenda items successfully resolved. The scrutinizer’s report confirmed that the total number of e-votes received was 71,385 from 48 voters.

Voting Results Breakdown

The voting results indicate strong backing from public non-institutional shareholders across all resolutions. Promoter and Public Institutional categories recorded zero votes polled.

All resolutions were passed by the requisite majority under Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Kome-On Communication Limited (BSE: KOMEON) reported a net loss of ₹89.42 lakh for the fiscal year ended March 31, 2026, widening significantly from the ₹1.38 lakh loss posted in FY25. The company generated zero revenue from sales turnover and other income sources during the period.

Total expenditure for the year stood at ₹88.99 lakh, a sharp increase from the ₹1.38 lakh incurred in the preceding financial year. This rise in costs occurred against a backdrop of no operational income, leading to a profit before depreciation of negative ₹88.99 lakh. The company did not declare any dividend for the year.

Financial Performance

The financial results for FY26 highlight a complete absence of top-line growth alongside rising operational outflows. The key financial metrics are detailed below:

Note: Figures are in lakhs as per the annual report.

Expense Breakdown

The surge in total expenditure was largely driven by professional fees and compliance-related costs. According to the notes to the financial statements:

• Professional Fees: ₹80.66 lakh
• Listing Expenses: ₹3.49 lakh
• Other Expenses: ₹3.49 lakh (including audit fees of ₹0.30 lakh, rent of ₹0.10 lakh, and RTA charges of ₹1.91 lakh)
• Office Expenses: ₹0.37 lakh

Employee benefit expenses were minimal at ₹1.78 lakh, primarily comprising salaries. The company did not incur any depreciation charges during the year.

What the Numbers Show

The financial data reveals a critical divergence between revenue generation and cost structure. With zero sales turnover and zero other income, the company’s entire expenditure of ₹88.99 lakh represents a direct drag on equity. Professional fees alone accounted for approximately 90.6% of the total expenditure (₹80.66 lakh out of ₹88.99 lakh), indicating that the majority of cash outflows were related to advisory or compliance services rather than core operational activities. This concentration suggests the company is in a maintenance or restructuring phase with no active commercial operations generating cash flow.

Regulatory and Corporate Governance Updates

The Secretarial Audit Report disclosed significant regulatory developments regarding the company’s listing status. The Bombay Stock Exchange (BSE) issued a Show Cause Notice on June 10, 2025, concerning the proposed compulsory delisting of the company’s equity shares under the SEBI (Delisting of Equity Shares) Regulations, 2021.

Following a hearing before the Delisting Committee, the company received a delisting order on December 11, 2025, granting a four-month period until April 2026 to complete pending compliances. The company stated it has completed all pending compliance requirements and paid outstanding fines and penalties. An application for revocation of the suspension has been filed, and the company is awaiting final approval from BSE.

The Board of Directors, led by Managing Director Abhishek Suresh Kyal, also sought shareholder approval to enhance limits for making investments, loans, or guarantees under Section 186 of the Companies Act, 2013. The proposed limit for such transactions is capped at ₹15 crore.