Kush Industries Limited appointed M/s. Kashyap R. Mehta & Partners as its Secretarial Auditors for a five-year term covering FY27 to FY31 during its 34th Annual General Meeting (AGM) held on September 28, 2026.

The appointment was ratified by shareholders through an ordinary resolution passed with 100% votes in favor. The firm, based in Ahmedabad, will conduct the Secretarial Audit pursuant to Section 204 of the Companies Act, 2013 and Regulation 24A of SEBI (LODR) Regulations, 2015.

Voting results and resolution details

Shareholders voted on four primary agenda items at the meeting, which was conducted via Video Conferencing and Other Audio-Visual Means (VC/OAVM). All four resolutions were passed with 100% votes in favor and zero dissent.

Auditor profile and compliance

M/s. Kashyap R. Mehta & Partners is a partnership of Practising Company Secretaries delivering integrated legal and advisory services in Corporate Laws, Capital Markets, and Corporate Governance. The lead partner, Mr. Kashyap Mehta, has 42 years of experience. The firm holds FRN: P2025GJ106000, COP No.: 2052, and Peer Reviewed Certificate No. 6827/2025.

The appointment term runs from the conclusion of the 34th AGM till the conclusion of the 39th AGM scheduled for 2031. This disclosure complies with Regulation 30 of SEBI (Listing Obligations and Disclosures Requirement).

Governance and office relocation

The AGM also approved the relocation of the registered office from Ankleshwar to Ahmedabad, effective October 5, 2026. Mr. Mansukhlal M. Virani chaired the session, with directors Ms. Kiran M. Virani, Mr. Vivek R. Singhal, and Mr. Hiren B. Hirpara in attendance. No qualifications were reported by the statutory or secretarial auditors in their respective reports for FY26.

A total of 67,28,124 shares were voted upon, representing approximately 44.12% of the company's total outstanding shares of 15,250,000. The remote e-voting window remained open from September 25 to September 27, 2026.

Kush Industries Limited has submitted the notice for its 34th Annual General Meeting (AGM) alongside its annual report for FY26, revealing a net loss of ₹4.91 lakh for the financial year ended March 31, 2026. This represents a marginal improvement over the ₹5.21 lakh net loss reported in FY25, as revenue from operations contracted sharply to ₹0.24 lakh from ₹0.92 lakh in the prior year. The meeting is scheduled for September 28, 2026, via video conferencing, where shareholders will vote on critical corporate actions including the relocation of the registered office and the appointment of new secretarial auditors.

The filing, submitted to BSE Limited on August 12, 2026, pursuant to Regulation 30 and 34(1)(a) of the SEBI (LODR) Regulations, 2015, outlines two special business items. Shareholders are asked to approve the appointment of M/s. Kashyap R. Mehta & Partners as Secretarial Auditors for a term of five consecutive years, from FY27 to FY31, at a proposed fee of ₹50,000 plus taxes for FY27. Additionally, a special resolution seeks consent to shift the company’s registered office from Ankleshwar to Ahmedabad, effective October 5, 2026, citing administrative convenience and cost reduction.

Financial Performance

The company’s financial results for FY26 highlight a continued reliance on non-operational income amidst negligible trading activity. While revenue from operations fell by approximately 74% to ₹0.24 lakh, other income remained robust at ₹9.58 lakh, compared to ₹8.98 lakh in FY25. Total income stood at ₹9.82 lakh against total expenses of ₹14.73 lakh.

Cash and cash equivalents declined significantly to ₹15.64 lakh from ₹52.04 lakh in the previous year, reflecting cash outflows from operations. Borrowings decreased to ₹892.50 lakh from ₹942.50 lakh, indicating some repayment of inter-corporate deposits.

Corporate Governance and Compliance

The Board of Directors, comprising Chairman Mansukh K. Virani, Director Kiran M. Virani, and Independent Directors Vivek Singhal and Hiren B. Hirpara, met four times during FY26. Mr. Mansukhlal K. Virani retires by rotation and offers himself for reappointment. The statutory auditors, M/s. P S S P & Co., confirmed that the financial statements give a true and fair view of the company’s state of affairs. However, they noted that documentary evidence regarding Independent Director Vivek Singhal’s compliance with the Online Proficiency Self-Assessment Test was not available.

What the Numbers Show

The divergence between declining operational revenue and stable other income underscores the company’s current lack of core business traction. With revenue from operations dropping to near-zero levels, the slight narrowing of the net loss is primarily attributable to controlled expenses rather than operational growth. The substantial decline in cash reserves, coupled with high borrowings relative to equity, suggests limited liquidity buffers for future expansion without external capital or improved operational performance.