Lexoraa Industries Limited appointed three new directors on September 30, 2026, following shareholder approval at the annual general meeting. The appointments include two independent directors and one executive director to strengthen the company's governance framework.

The board recommended the appointments under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Shareholders approved the addition of Rakesh Agrawal and Preeti Vijayvargia as non-executive independent directors, alongside Sam Sharda Fernandes as an executive director.

Director profiles and roles

The newly appointed directors bring diverse expertise in finance, audit, and taxation. Each appointment carries a term of five years.

Rakesh Agrawal is a partner at SARCS & Associates with a background in statutory and concurrent audits of public and private banks. Preeti Vijayvargia holds memberships in both the Institute of Chartered Accountants of India and the Institute of Company Secretaries of India. Sam Sharda Fernandes has experience in finance and auditing roles.

Secretarial auditor reappointment

In the same meeting, shareholders approved the reappointment of M/s. Jay Bhatt & Associates as secretarial auditors for a five-year term. The firm will hold office from the conclusion of this AGM until the conclusion of the AGM in FY32.

Jay Bhatt & Associates is a practicing company secretary firm registered with the Institute of Company Secretaries of India (COP No: 28320). They handle secretarial and legal compliances for listed and unlisted companies, including matters related to the Companies Act and SEBI regulations.

Governance updates

All three appointed directors are not related to each other or existing board members. None are debarred from holding office by any SEBI order or other authority. The appointments align with regulatory requirements for board composition and oversight.

Lexoraa Industries reported a net profit of ₹2.21 lakh for the financial year ended March 31, 2026, marking a reversal from the net loss of ₹47.56 lakh recorded in the previous year. The company’s revenue from operations surged 370% year-on-year to ₹1,576.48 lakh, driven by its strategic transition into the jewellery and agro-food sectors.

The Mumbai-based company convened its 31st Annual General Meeting on September 30, 2026, to approve the annual accounts and appoint new directors. Shareholders are expected to vote on the reappointment of Mrs. Nikita D. Kothari and the appointment of Mr. Rakesh Agrawal and Ms. Preeti Vijayvargia as independent directors.

Financial Performance

Lexoraa Industries demonstrated significant top-line growth in FY26 compared to FY25. The company recorded total revenue of ₹1,576.53 lakh, up from ₹336.12 lakh in the prior year. Despite the revenue surge, total expenditure rose to ₹1,574.31 lakh from ₹383.68 lakh, resulting in a slim profit before tax of ₹2.21 lakh.

The company did not declare any dividend for the period ended March 31, 2026. No amount was transferred to reserves during the year.

What the Numbers Show

While revenue growth was substantial, the company’s balance sheet remains under pressure. Lexoraa Industries reported accumulated losses of ₹505.14 lakh as of March 31, 2026, leading to a negative net worth of ₹82.18 lakh. The statutory auditor highlighted a material uncertainty regarding the company’s ability to continue as a going concern, noting that the financial statements were prepared on a going concern basis despite the eroded net worth.

Strategic Developments

Post the financial year close, the Board approved a rights issue aggregating up to ₹69 crore. The offer involves issuing fully paid-up equity shares at a price of ₹15 per share to eligible shareholders. Additionally, the company acquired 100% equity shares of Any and Every Export Limited, a Hong Kong-incorporated entity, making it a wholly owned subsidiary.

Governance Changes

The AGM agenda includes significant changes to the Board composition:

• Reappointment: Mrs. Nikita D. Kothari retires by rotation and seeks reappointment.
• New Appointments: Mr. Rakesh Agrawal and Ms. Preeti Vijayvargia are proposed as Non-Executive Independent Directors for five-year terms.
• Executive Role: Mr. Sam Sharda Fernandes is set to be appointed as Executive Director and Chief Financial Officer.

The company also appointed M/s. Jay Bhatt & Associates as its Secretarial Auditor for five years.