Konndor Industries Limited held its 43rd Annual General Meeting on Wednesday, September 30, 2026, at its registered office in Ahmedabad, Gujarat. The meeting commenced at 11:00 am and concluded at 11:11 am.

The meeting was conducted physically at D-313, Sumel Business Park 1, Indian Textile Plaza, Near Namaste Circle, Shahibaug, Ahmedabad, in accordance with the applicable provisions of the Companies Act, 2013. The AGM was convened pursuant to the notice dated September 3, 2026, with Directors, Key Managerial Personnel, and 30 other members in attendance.

Resolutions placed before members

Four resolutions were placed before the members for consideration and approval. The following table outlines the business transacted at the meeting:

Key procedural highlights

The Chairman informed members that the Annual Report for FY26, including the Board's Report and Secretarial Audit Report, was taken as read. The Statutory Auditors' Report on the audited financial statements for FY26 did not contain any qualification, observation, or adverse remark.

Members were provided a remote e-voting facility prior to the AGM, and those who had not cast votes through remote e-voting were permitted to vote via polling paper during the meeting. M/s. Utkarsh Shah & Co, Practicing Company Secretary (Membership No. F12526, COP No. 26241), Ahmedabad, was appointed as the Scrutinizer to oversee the remote e-voting process and voting conducted during the AGM. The consolidated results of remote e-voting and ballot voting were to be announced within two working days from the conclusion of the AGM.

The Chairman noted that no questions had been received from members in relation to the financial statements, and no requests had been received from any member to register as a speaker at the meeting. The proceedings were conducted under Regulation 30 read with Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Konndor Industries Limited posted a net loss of ₹4.11 lakh in FY26, reversing a net profit of ₹64.98 lakh recorded in the previous fiscal year. Total revenue contracted sharply to ₹190.20 lakh from ₹900.16 lakh in FY25, marking a significant decline in top-line performance.

The company’s total expenses stood at ₹194.31 lakh for the year under review, compared to ₹811.92 lakh in the prior year. Despite the reduction in absolute expenses, the steep drop in revenue resulted in a loss before taxes of ₹4.11 lakh, whereas the company had earned a pre-tax profit of ₹88.24 lakh in FY25.

Strategic shifts and governance changes

The Board has recommended shifting the registered office from Gujarat to Maharashtra to enhance administrative efficiency and operational management. This move requires approval from the Central Government and the Registrar of Companies. Additionally, shareholders are being asked to approve an alteration to the Memorandum of Association to expand the company’s object clause. The new objectives include construction, development, and operation of residential and commercial complexes, hotels, resorts, logistics parks, and infrastructure projects such as roads, bridges, and power facilities.

Governance structures saw notable changes during FY26. The Board comprised five directors as of March 31, 2026, including one Whole-time Director, two Non-Executive Promoter Directors, and two Independent Directors. Mr. Anis Nizam Khan was appointed as Chief Financial Officer effective January 5, 2026. The company held eight board meetings during the year following a change in management, with four meetings by the Audit Committee.

Compliance observations

The Secretarial Audit Report highlighted several non-compliances during the period. These included the absence of a Whole-time Company Secretary for a certain duration, inadequate maintenance of the Structured Digital Database (SDD) as per SEBI regulations, and delays in quarterly compliances with stock exchanges. Management stated that steps are being taken to appoint a qualified Company Secretary and strengthen compliance mechanisms.

What the Numbers Show

The financial data reveals a stark divergence between revenue contraction and expense reduction. While total expenses decreased by approximately 76% (from ₹811.92 lakh to ₹194.31 lakh), revenue fell by roughly 79% (from ₹900.16 lakh to ₹190.20 lakh). This indicates that the cost base did not shrink proportionally with the collapse in sales volume, leading to the swing from profitability to loss. Furthermore, the company reported no dividend payout due to these losses, and no amount was transferred to reserves during the fiscal year.