Mahaveer Infoway has scheduled its 35th Annual General Meeting (AGM) for September 30, 2026. The company published the notice in newspapers on September 9, confirming the date and venue at its registered office in Hyderabad.

The Board of Directors concluded its meeting on September 7, approving the logistics for the meeting and recommending the appointment of a new director. These steps finalize the process for the AGM covering the financial year ended March 31, 2026.

AGM Logistics and Voting

The board finalized the schedule and administrative details for the 35th AGM. Key decisions include the cut-off date for e-voting eligibility and the appointment of a scrutinizer.

Ms. Monisha Gupta, Practicing Company Secretary, was appointed to oversee the voting process to ensure fairness and transparency. The cut-off date of September 23, 2026, determines member eligibility for remote e-voting.

Director Appointment

The board recommended the appointment of Mr. Ashok Kumar Jain (DIN: 00043840) as a Director. His tenure is liable to retire by rotation, subject to approval by members at the ensuing AGM. Mr. Jain currently serves as the Managing Director of the company.

Loan Powers

The directors approved seeking power to advance loans or provide security under Section 185 of the Companies Act, 2013. The aggregate limit for these transactions is set at ₹10 crore, pending member approval at the AGM.

Mahaveer Infoway posted a net profit of ₹64.05 crore for the financial year ended March 31, 2026, marking a sharp recovery from the ₹8.00 crore profit recorded in FY25.

The Hyderabad-based IT and telecom solutions provider saw its total income rise to ₹384.32 crore from ₹301.22 crore in the previous year. This growth was primarily fueled by a substantial increase in other income rather than core operations.

Financial Performance

Revenue from operations contracted slightly by 4.2%, declining to ₹261.48 crore from ₹273.07 crore in FY25. Despite the dip in top-line growth, the company managed to reduce finance costs significantly.

Finance costs fell to ₹2.97 crore from ₹12.87 crore in the prior year, reflecting improved debt management. Depreciation and amortization expenses remained flat at ₹11.71 crore for both periods.

What the Numbers Show

The dramatic improvement in profitability was driven almost entirely by non-operational factors. Other income surged to ₹122.84 crore from ₹28.15 crore, largely due to capital gains of ₹93.26 crore.

This indicates that the core business, which generated lower operating revenue, contributed minimally to the bottom-line surge. The reliance on investment gains suggests that operational efficiency alone did not drive the profit expansion, highlighting a divergence between top-line stagnation and bottom-line growth.

Balance Sheet and Governance

Mahaveer Infoway strengthened its balance sheet by reducing short-term borrowings to ₹137.39 crore from ₹313.07 crore in FY25. The current ratio improved to 2.88 from 1.74, indicating better liquidity position.

The Board decided not to recommend any dividend for FY26. Instead, the entire net profit of ₹64.05 crore was transferred to retained earnings. Total reserves and surplus stood at a deficit of (₹83.69 crore) against a paid-up capital of ₹550.90 crore.

Mr. Ashok Kumar Jain, Managing Director, retires by rotation at the upcoming Annual General Meeting scheduled for September 30, 2026, and seeks reappointment. The company also noted compliance issues regarding Section 185 of the Companies Act, 2013, related to advances made to persons in whom directors are interested, which is being addressed through a special resolution.