MP Agro Industries held its 50th Annual General Meeting on September 29, 2026, through video conferencing. The meeting, chaired by Rafiqunnisha Merchant in the absence of Chairperson Shamim Sheikh due to ill health, concluded with the adoption of audited financial statements and key directorial appointments.

The meeting commenced at 3:00 pm and concluded at 3:15 pm. All directors were present, along with Sharad Kothari from VCA & Associates, the statutory auditors, and J. J. Gandhi from J. J. Gandhi & Co., who served as the secretarial auditor and scrutinizer.

Resolutions passed

Shareholders approved several items of business as outlined in the notice dated August 13, 2026. The resolutions covered ordinary business regarding financial adoption and director retirement, alongside special business concerning the Managing Director's tenure.

Voting and compliance

Members utilized the electronic voting facility provided by CDSL to cast their votes on all resolutions. Those who did not vote remotely were allowed to vote during the meeting within 15 minutes after its conclusion. The results of the voting are scheduled to be declared on or before October 1, 2026, and will be submitted to the stock exchange and uploaded on the company website.

J. J. Gandhi was appointed by the Board to scrutinize votes cast through remote e-voting and during the meeting. The company secretary addressed shareholder queries, which were satisfactorily replied to by the chairperson before the meeting ended with a vote of thanks.

MP Agro Industries has confirmed the logistical details for its 50th Annual General Meeting (AGM), scheduled for Tuesday, September 29, 2026. The company announced that the cut-off date for determining shareholder eligibility to vote is September 22, 2026. Remote e-voting will commence on Friday, September 26, 2026, at 9:00 am and close on Sunday, September 28, 2026, at 5:00 pm.

The meeting will be conducted via Video Conferencing (VC) or Other Audio-Visual Means (OAVM). Shareholders holding shares as of the cut-off date can cast their votes either through remote e-voting or during the AGM session. Those who vote remotely may still attend the meeting but cannot vote again. The facility is provided by Central Depository Services (India) Limited (CDSL).

Financial Performance

The company reported a net profit of ₹6.90 lakh for FY26, an increase from ₹4.80 lakh in FY25. Total revenue stood at ₹39.69 lakh, slightly down from ₹40.82 lakh in the previous year. The improvement in bottom-line figures was primarily driven by a significant reduction in corporate tax expenses, which fell to ₹0.83 lakh from ₹3.37 lakh in FY25.

Revenue from operations was nil for both periods, with total revenue derived entirely from other income. Employee benefit expenses rose to ₹20.95 lakh from ₹18.10 lakh, while other expenses declined to ₹10.90 lakh from ₹14.45 lakh. Basic earnings per share (EPS) increased to ₹0.12 from ₹0.08.

Meeting Details

The AGM will address the adoption of audited financial statements and the re-appointment of the Managing Director. The deemed venue is the registered office in Vadodara. Shareholders holding shares in physical mode or without registered email IDs can cast votes via remote e-voting. Members who have already cast remote votes may attend the AGM but cannot vote again. Conversely, members attending via VC/OAVM who have not voted remotely can cast their ballots during the session.

Agenda Items

The meeting will focus on two primary agenda items:

1. Adoption of Financial Statements: Shareholders will consider and adopt the Audited Standalone Financial Statements for FY26, along with reports from the Board of Directors and Auditors.
2. Appointment of Director: Mrs. Rafiqunnisa Merchant (DIN: 07758223) retires by rotation and seeks re-appointment as a director.

Special Business: The board proposes the re-appointment of Mr. Yunus R. Memon (DIN: 01094396) as Managing Director for three years, from June 1, 2027, to May 31, 2030. The proposed remuneration includes a monthly salary of ₹20,000 with annual increments based on mutual understanding. No perquisites are included. The total remuneration remains within the ceiling limits specified in Schedule V of the Companies Act, 2013.

E-Voting Procedures

Members holding shares in dematerialized mode must contact their depository participants to register email IDs and bank account details. Physical shareholders are requested to update their information via the Registrar and Share Transfer Agent’s website. Any shareholder who acquires shares after the notice dispatch date but holds them as of the cut-off date (September 22, 2026) and has not received their sequence number can obtain login credentials by contacting M/s. MUFG Intime India Pvt. Limited or emailing helpdesk.evoting@cdslindia.com . Grievances related to e-voting should be addressed to CDSL’s helpdesk.

What the Numbers Show

The company’s profitability is heavily reliant on non-operating income, as revenue from operations remains nil. The sharp decline in corporate tax expense—falling by over 75%—was the primary driver behind the 43.8% increase in net profit, despite a marginal dip in profit before tax. This suggests a favorable adjustment in prior-year tax provisions rather than operational efficiency gains, given that employee costs rose while other expenses fell.