Lee & Nee Softwares (Exports) Ltd has scheduled its 38th Annual General Meeting for September 29, 2026. The meeting will address critical governance matters, including a significant increase in executive compensation and the appointment of a new independent director.

The company will hold the meeting through Video Conferencing or Other Audio-Visual Means. Remote e-voting will be open from September 26 to September 28, 2026. The cut-off date to determine voting eligibility is September 22, 2026.

Key Agenda Items

The notice outlines two primary special business items requiring shareholder approval via special resolution.

Director Appointments

Shareholders will vote to appoint Mrs. Kirrti Lahoti as a Non-Executive & Independent Director. She is a practicing Chartered Accountant with expertise in Company Law, auditing, and securities regulations. Her appointment is effective from August 13, 2026, for a five-year term.

Additionally, Mr. Sagar Mal Gupta retires by rotation and offers himself for re-appointment as a director.

Executive Remuneration Revision

The Board seeks approval to increase the monthly remuneration of Mr. Mahesh Gupta, Managing Director & CEO. The proposed hike raises his salary from ₹1,00,000 to ₹1,50,000 per month, effective October 1, 2026. This represents a 50% increase in his fixed compensation.

The Nomination and Remuneration Committee recommended the revision based on his leadership performance and the company's growth trajectory. The new remuneration structure applies even in years with absence or inadequacy of profits, as minimum remuneration under Schedule V of the Companies Act, 2013.

What the Numbers Show

The proposed remuneration increase for the Managing Director signals a shift in fixed cost structures for the leadership team. Moving from ₹1,00,000 to ₹1,50,000 per month adds ₹6,00,000 annually to the company’s administrative expenses. Given that this amount is designated as minimum remuneration payable regardless of profit adequacy, it establishes a higher floor for executive costs in future financial years, potentially impacting net profit margins during periods of lower revenue generation.

Meeting Logistics

The Register of Members and Share Transfer Books will remain closed from September 26 to September 28, 2026. Physical attendance is dispensed with pursuant to Ministry of Corporate Affairs circulars. Shareholders holding shares as of the cut-off date can participate and vote electronically via the NSDL e-voting system.

Lee & Nee Softwares (Exports) Ltd reported a significant improvement in profitability for the first quarter of FY27, with standalone net profit after tax rising 119% year-on-year to ₹18.48 lakh. This compares to a net profit of ₹9.63 lakh in the same period last year. The company’s total income from operations also expanded by 39%, reaching ₹3.6997 crore against ₹2.6635 crore in Q1FY26.

The quarterly performance reflects stronger operational execution compared to the previous fiscal year’s first quarter. Pre-tax profits before exceptional items stood at ₹24.77 lakh, up from ₹11.29 lakh in the corresponding quarter of FY26. On a sequential basis, net profit after tax increased 77% from ₹10.46 lakh in Q4FY26.

Financial Highlights

On a consolidated basis, the group reported a net profit after tax of ₹14.94 lakh for Q1FY27, compared to ₹8.15 lakh in Q1FY26, marking an 83% year-on-year increase. Consolidated revenue from operations rose 36% to ₹3.9136 crore from ₹2.8703 crore in the prior year’s corresponding quarter.

What the Numbers Show

The divergence between revenue growth and profit expansion suggests improved cost management or margin efficiency during the quarter. While revenue grew by approximately 39%, pre-tax profits more than doubled (119% YoY). This indicates that operating expenses did not scale proportionally with revenue, or that the mix of services delivered carried higher margins compared to the previous year. Additionally, the effective tax rate appears stable, as the percentage drop from pre-tax to post-tax profit remains consistent with prior periods.

The Board of Directors approved the unaudited standalone and consolidated financial results at its meeting held on August 14, 2026. The results were published in compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.