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.

Kush Industries Limited returned to profitability in Q1FY27, reporting a standalone net profit of ₹0.79 lakh for the quarter ended June 30, 2026. This stands in contrast to a net loss of ₹2.34 lakh recorded in the corresponding quarter of the previous financial year. The turnaround was driven by a doubling of revenue from operations to ₹0.48 lakh from ₹0.24 lakh year-on-year, alongside controlled operational expenses. The company’s total income rose to ₹4.68 lakh from ₹1.24 lakh in Q1FY26, supported by other income increasing to ₹4.20 lakh from ₹1.00 lakh.

The Board of Directors approved the unaudited financial results in a meeting held on July 30, 2026, in compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The results were reviewed by P S S P & Co, Chartered Accountants, who issued a limited review report stating that nothing came to their attention to suggest material misstatement. The figures are prepared in accordance with Ind AS 34 and other generally accepted accounting principles in India.

Financial Performance Highlights

Revenue from operations doubled to ₹0.48 lakh from ₹0.24 lakh in Q1FY26. Cost of materials consumed remained proportionate at ₹0.47 lakh compared to ₹0.23 lakh previously. Employee benefits expense was stable at ₹1.20 lakh, while other expenses increased slightly to ₹2.22 lakh from ₹2.15 lakh. Total expenses rose modestly to ₹3.89 lakh from ₹3.58 lakh, allowing the profit before tax to improve significantly to ₹0.79 lakh from a loss of ₹2.34 lakh.

Corporate Actions and Governance

Beyond financial results, the Board decided to convene the 34th Annual General Meeting on September 28, 2026, via Video Conferencing or Other Audio Visual Means, in compliance with the Companies Act, 2013, and relevant MCA and SEBI circulars. Shareholders will be able to cast votes electronically through remote e-voting, which will commence on September 25, 2026, at 9:00 a.m. and conclude on September 27, 2026, at 5:00 p.m. The cut-off date for determining voting rights is September 21, 2026.

The Board also approved the appointment of M/s. Kashyap R. Mehta & Partners as Secretarial Auditors for a term of five consecutive years, from FY2027 to FY2031, subject to shareholder approval at the AGM. This appointment follows recommendations from the Audit Committee and aligns with Section 204 of the Companies Act, 2013, and Regulation 24A of the SEBI LODR Regulations. Additionally, the Board proposed shifting the registered office from Ankleshwar to Ahmedabad, pending shareholder consent.

What the Numbers Show

The shift from a loss to profit in Q1FY27 highlights improved operational efficiency despite minimal revenue scale. While revenue doubled, total expenses grew by less than 9%, indicating better cost management relative to income generation. Other income contributed significantly to the total income mix, rising by 320% year-on-year, which suggests non-operational gains played a key role in the bottom-line improvement. Investors should monitor whether this profitability trend sustains as operational revenue scales further.