Maxgrow India Limited has requested BSE to grant a further extension until June 30, 2026, for submitting its audited financial results for the quarter and financial year ended March 31, 2026. The company cited unavoidable circumstances and pending audit-related matters for earlier and current periods as reasons for the delay. This extension request follows a previous timeline that the company was unable to meet due to these ongoing issues.

The management, along with the Statutory Auditors, is working to complete the remaining formalities and finalize the results. The company attributed the delay to reasons beyond its control and requested that the stock exchange condone the delay without initiating any adverse action. Maxgrow India assured the exchange of its commitment to complying with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Consequently, the trading window for dealing in the securities of the company remains closed for Designated Persons. This closure is in accordance with the SEBI (Prohibition of Insider Trading) Regulations, 2015 and the company's Code of Conduct for Prohibition of Insider Trading. The window will reopen 48 hours after the declaration of the financial results.

Key Details

The letter to BSE was signed by Shivkumar Pasi, Managing Director of Maxgrow India Limited. The company stated it would keep the exchange informed of any further developments regarding the submission of the results.

Maxgrow India Limited announced the voting results for its Annual General Meeting held on June 1, 2026, confirming the adoption of audited financial statements for five financial years following the completion of its Corporate Insolvency Resolution Process. The meeting, convened at the company's registered office in Mumbai, approved the accounts for the years ended March 31, 2021, March 31, 2022, March 31, 2023, March 31, 2024, and March 31, 2025. This action regularizes pending statutory compliances that were delayed due to regulatory constraints during the insolvency proceedings.

The Chairman, Mr. Laxman Medudula, informed members that the company's Corporate Insolvency Resolution Process was initiated by an order of the National Company Law Tribunal, Mumbai Bench, on June 04, 2021. A resolution plan submitted by PP Metallix Limited was approved by the Committee of Creditors and sanctioned by the tribunal on December 06, 2023. Following the implementation of the plan and the reconstitution of the Board of Directors, the company moved to strengthen corporate governance and internal controls.

Key Resolutions Passed

The shareholders transacted several items of business, including the adoption of financial statements and the appointment of statutory auditors and key managerial personnel. The voting results, combining remote e-voting and polling papers conducted at the meeting, were announced upon receipt of the Scrutinizer's Report from M/s. Abhay Kumar Pal & Co.

Appointments and Financial Approvals

The meeting concluded with the adoption of the audited standalone financial statements for the specified periods and the approval of the new board composition. The company confirmed that the remote e-voting facility was provided through MUFG Intime India Private Limited in compliance with the Companies Act, 2013, and SEBI Listing Regulations. All resolutions were passed with the requisite majority, with 3,82,28,344 votes polled in favour and zero votes against.