Miven Machine Tools shareholders unanimously approved the adoption of audited financial statements for FY26 and the reappointment of director Sahil Arora at its 41st annual general meeting. The consolidated scrutinizer’s report confirms 100% voting support for both ordinary resolutions.

The meeting was held on Tuesday, September 15, 2026, via video conferencing and other audio-visual means. Managing Director Katta Sundeep Reddy chaired the proceedings. Forty members attended the virtual session, satisfying the quorum requirements under the Companies Act, 2013.

Key Resolutions Passed

Shareholders approved two ordinary business resolutions with the requisite majority:

• Adoption of the audited balance sheet as on March 31, 2026, and the statement of profit and loss for the financial year ended March 31, 2026, along with related notes, the Board of Directors report, and the Auditors report.
• Reappointment of Mr. Sahil Arora (DIN: 07143414) as a director. He retires by rotation and offered himself for reappointment.

Voting Results

The consolidated scrutinizer’s report, filed pursuant to Section 108 of the Companies Act, 2013 and Rule 20 of the Companies (Management and Administration) Rules, 2014, details the voting outcomes. All votes were cast via remote e-voting, with no votes recorded during the live AGM session.

Remote e-voting was facilitated by Central Depository Services (India) Limited (CDSL). Voting commenced at 9:00 am on September 12, 2026, and concluded at 5:00 pm on September 14, 2026. Members holding shares as on the cut-off date of September 8, 2026, were entitled to vote.

Meeting Proceedings

Katta Sundeep Reddy delivered a speech highlighting key financials, reviewing business performance, and outlining future prospects. The Company Secretary confirmed that the Annual Report for FY26, including the notice, audited financial statements, and reports from the Board and Auditors, was sent electronically to registered members.

Mr. Surya Prakash Perumalla, practicing company secretary and appointed scrutinizer from M/s SPP & Associates, oversaw the voting process to ensure fairness and transparency. The electronic data and relevant records relating to the voting are under safe custody until the Chairman approves and signs the Minutes of the 41st AGM.

Attendance

Key management personnel and directors attended the meeting from various locations:

Statutory auditor CA P Hanumanth Rao and secretarial auditor Surya Prakash also attended from Hyderabad.

Miven Machine Tools reported a narrowed net loss of ₹43.93 lakh for the fiscal year ended March 31, 2026, compared to a ₹61.31 lakh loss in FY25. The company logged revenue from operations of ₹17.10 lakh, up from nil in the prior year.

The 41st Annual General Meeting (AGM) is scheduled for September 15, 2026. Shareholders will consider the adoption of audited financial statements and the reappointment of Director Sahil Arora. The meeting will be conducted via Video Conferencing (VC) and Other Audio Visual Means (OAVM).

Financial Performance

Revenue from operations stood at ₹17.10 lakh, driven entirely by income from services. Other income contributed ₹7.59 lakh, primarily from the write-back of gratuity provisions related to a former managing director. Total expenses were ₹68.62 lakh, including employee benefits of ₹24.96 lakh and other expenses of ₹43.66 lakh.

What the Numbers Show

The company’s total equity stands at a negative ₹595.67 lakh, with liabilities exceeding assets by the same amount. This negative net worth, combined with the absence of tangible property, plant, and equipment, has led auditors to highlight a material uncertainty regarding the company’s ability to continue as a going concern.

Auditor Qualifications

Statutory auditors V. Rao & Gopi issued a qualified opinion due to the non-provision of interest expenditure on inter-corporate loans amounting to ₹11.24 lakh. The board noted it is reconciling with concerned parties to determine the exact financial impact. Additionally, auditors emphasized matters including the write-off of unrecoverable sundry debtors worth ₹2.26 lakh and pending claims by former employees.

Corporate Governance

The secretarial audit report highlighted two non-compliances occurring after the financial year-end but before the reporting date: a one-day delay in filing Board Meeting Intimation to BSE and non-submission of an impact statement regarding auditor qualifications under Regulation 33 of SEBI LODR. The board stated these were inadvertent lapses that have been rectified.

Shareholder Information

Remote e-voting will be open from September 12 to September 14, 2026. The cut-off date for determining eligibility for voting and attendance is September 8, 2026. No dividend was recommended due to accumulated losses.