Muller & Phipps India Limited has scheduled its 109th Annual General Meeting (AGM) for Monday, September 28, 2026. The meeting will be conducted through Video Conferencing or Other Audio Visual Means in compliance with SEBI and MCA regulations.

Meeting Details

The company announced that the AGM will take place at 5:00 pm on the specified date. Shareholders holding shares as of the cut-off date of September 18, 2026, are eligible to vote. The voting rights are proportional to the shareholding in the paid-up equity share capital on this record date.

E-Voting Process

Remote e-voting commences on Friday, September 25, 2026, at 10:00 am and concludes on Sunday, September 27, 2026, at 5:00 pm. The National Securities Depository Limited (NSDL) provides the electronic voting system. Mr. Rajesh Kanjoia, Advocate, serves as the scrutinizer for the e-voting process to ensure fairness and transparency.

Members who have not cast their votes via remote e-voting may do so electronically during the AGM. However, those who have already voted remotely cannot vote again at the meeting. New members acquiring shares after the notice dispatch but before the cut-off date can obtain login credentials by contacting NSDL.

Book Closure

The Register of Members will remain closed from September 21, 2026, to September 28, 2026, inclusive. This period aligns with the AGM schedule to finalize the list of eligible shareholders. The Annual Report for FY26 was dispatched to registered email addresses on September 4, 2026.

Muller & Phipps India Limited reported a significant contraction in its net loss for the financial year ended March 31, 2026. The standalone net loss narrowed by 96% year-on-year to ₹3.13 lakh from ₹74.83 lakh in the previous fiscal. Consolidated results showed an even sharper improvement, with the group's net loss dropping to ₹4.75 lakh compared to ₹75.69 lakh in FY25.

Financial Performance

Revenue from operations declined slightly to ₹563.16 lakh in FY26, down from ₹591.60 lakh in FY25. This decrease was primarily due to a drop in sales of medicated preparations, which fell to ₹561.28 lakh from ₹577.68 lakh. Sales of cosmetics and toiletries also contracted sharply to ₹1.88 lakh from ₹13.92 lakh. Despite the revenue dip, total revenue rose to ₹690.75 lakh from ₹619.93 lakh, supported by a substantial increase in other income.

What the Numbers Show

The dramatic reduction in losses was driven almost entirely by non-operating income rather than core business profitability. Commission income alone contributed ₹100.80 lakh to other income, a category that saw no such earnings in the previous year. This single line item accounted for roughly 79% of the total other income and more than offset the operational deficit. Employee benefit expenses rose to ₹250.99 lakh from ₹238.12 lakh, indicating rising fixed costs despite lower sales volumes. Travel and conveyance costs also increased significantly to ₹77.33 lakh from ₹60.85 lakh.

Balance Sheet and Cash Flow

The company reported positive cash flow from operating activities of ₹12.50 lakh in FY26, reversing a cash outflow of ₹41.78 lakh in the prior year. This improvement was aided by better management of sundry creditors and other liabilities, which provided ₹23.93 lakh in cash inflows. However, the balance sheet remains under pressure with a negative equity position. Total equity stood at negative ₹206.41 lakh as of March 31, 2026. Borrowings were reduced slightly to ₹76.12 lakh from ₹83.92 lakh, primarily consisting of unsecured loans from related parties.

Corporate Governance

The Board of Directors did not recommend any dividend for the year due to carried-forward losses. Mr. Raymond Simkins retires by rotation at the upcoming Annual General Meeting and offers himself for reappointment. The company has reappointed Shankarlal Jain & Associates LLP as statutory auditors for a second term of three years. The AGM is scheduled for September 28, 2026.