Mohite Industries has scheduled its 35th Annual General Meeting (AGM) for September 30, 2026. The company announced the commencement of remote e-voting on September 27, 2026, alongside the book closure period.

The Board of Directors concluded its meeting on September 4, 2026, where it reappointed Mr. Abhay Bhide as a director and approved remuneration for cost accountants. The AGM will be held at the company’s registered office in Kolhapur.

Book Closure and E-Voting Timeline

Pursuant to Section 91 of the Companies Act, 2013 and Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Register of Members and Share Transfer Books will remain closed from September 24, 2026 to September 30, 2026 (both days inclusive).

Shareholders holding shares in physical or dematerialized form as on the cut-off date of September 23, 2026, are eligible to vote. Remote e-voting through Central Depository Services (India) Limited (CDSL) commences on September 27, 2026, at 9:00 am and ends on September 29, 2026, at 5:00 pm.

Annual General Meeting Details

The 35th AGM will be held at the company’s registered office in Kolhapur on Wednesday, September 30, 2026, at 11:00 am. Members may attend via physical presence. The agenda includes adopting audited financial statements for FY26 and appointing a cost auditor for FY27.

Director Reappointment

Mr. Abhay Bhide (DIN: 05307473) retires by rotation. Being eligible, he offered himself for reappointment. The Board approved his reappointment as a Director.

Auditor Remuneration

The Board fixed the remuneration payable to M/s. S.V. Vhatte & Associates, Cost Accountants, Solapur. They were appointed for the financial year ending March 31, 2027.

This payment is subject to shareholder approval.

Mohite Industries reported a widened net loss and declining revenues for the first quarter of fiscal year 2026, reflecting continued operational pressures. The company’s consolidated net loss before tax stood at ₹245.62 lakh for the quarter ended June 30, 2026, compared to a net loss of ₹101.40 lakh in the corresponding quarter of FY25. This represents a 142% increase in losses year-on-year.

Consolidated revenue from operations fell sharply to ₹1,854.90 lakh, down from ₹2,624.44 lakh in Q1FY25, marking a decline of approximately 29%. The downturn in top-line performance contributed to the expanded bottom-line deficit, as the company failed to offset lower income with cost efficiencies.

Financial Performance Overview

The financial results for Q1FY26 highlight a reversal from the profitability seen in the preceding quarter. In Q4FY25 (quarter ended March 31, 2026), Mohite Industries had posted a net profit after tax of ₹35.93 lakh on revenues of ₹3,167.48 lakh. The sharp contrast between the two quarters underscores volatility in the company’s earnings trajectory.

Standalone figures for the quarter also reflected weakness, with standalone revenue from operations at ₹1,686.63 lakh and a standalone profit before tax of ₹(118.58) lakh.

What the Numbers Show

A key divergence emerges when comparing the pre-tax and post-tax figures for the current quarter versus the previous quarter. In Q1FY26, the net loss before tax (₹245.62 lakh) remained identical to the net loss after tax, indicating no tax benefit was recognized or utilized against the current period’s losses. In contrast, during Q4FY25, the net profit before tax was ₹156.54 lakh, which reduced to ₹35.93 lakh after tax, implying a significant effective tax rate or other adjustments impacted the final bottom line in the prior quarter. The absence of such adjustments in Q1FY26 suggests the full weight of operational losses flowed directly to the bottom line without tax mitigation.

Corporate Governance and Compliance

The unaudited financial results were reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on August 14, 2026. The statutory auditors have carried out a limited review of the results. The financial statements have been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (Ind AS).

Reserves as shown in the audited balance sheet of the previous year stood at ₹9,599.39 lakh. Paid-up equity share capital remained unchanged at ₹2,009.97 lakh.