Maha Rashtra Apex Corporation concluded its 82nd annual general meeting on August 24, 2026. Shareholders approved significant board changes, including the appointment of Cyrus D Khambata as managing director.

The meeting, conducted via video conferencing, also addressed a qualified statutory audit report for FY26. Chairman K. B. Shetty provided an overview of the financial performance for the year ended March 31, 2026, alongside future action plans.

Key Resolutions Passed

Members approved several ordinary and special resolutions during the proceedings:

• Re-appointment of Mr. Yazdin Mistry as a director upon retirement by rotation.
• Appointment of Mr. Cyrus D Khambata as a director and subsequently as managing director.
• Appointment of Mr. Jamsheed Minoo Panday as a director and whole-time director.
• Redesignation of Mr. K. B. Shetty as an independent director for a five-year term.

Audit and Governance Updates

The secretarial auditor’s report was unqualified with no adverse observations. However, the statutory auditor’s report contained qualifications. The chairman read out these qualification points along with management’s response to members during the meeting.

Representatives from H. G. Sarvaiya & Co., the statutory auditors, and P. M. Agarwal & Co., the secretarial auditors and scrutinizers, were present via video conference.

Operational Outlook

The managing director briefed members on new business activities the company is venturing into to increase revenue. The e-voting facility remained open for 30 minutes post-meeting to allow additional participation. Consolidated voting results will be submitted to stock exchanges within stipulated timelines.

Maha Rashtra Apex Corporation Limited has entered into a partnership to market and distribute Kiri/Paulownia timber and related products in India. The company’s Board of Directors approved the new activity on August 13, 2026, marking a strategic expansion into the timber sector.

The initiative involves acting as a channel partner for WGW Agreen Private Limited. WGW Agreen holds exclusive rights in India for the promotion, plantation, sale, and distribution of hybrid tissue-cultured Paulownia Trees, including the Phoenix One® variety. Maha Rashtra Apex will focus on developing the market and establishing distribution networks for these timber products.

Strategic Scope

The proposed business activity centers on identifying and building relationships with key industry stakeholders. This includes timber traders, manufacturers, furniture makers, and other producers of wooden products. The company aims to establish suitable distribution channels in anticipation of timber availability from plantations in coming years.

Key aspects of the partnership include:

• Developing market presence for Paulownia/Kiri timber in India.
• Establishing relationships with potential customers across the value chain.
• Leveraging WGW Agreen’s exclusive rights for hybrid tissue-cultured varieties.

The company stated it will make further disclosures to stock exchanges as required under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This move diversifies the company’s portfolio beyond its existing operations, targeting a niche segment of the forestry and timber industry.