Muzali Arts Limited has scheduled its annual general meeting for September 29, 2026. The board of directors approved the draft directors' report for FY26 during a meeting held on September 1, 2026.

The meeting will be conducted through video conferencing or other audio-visual means at 2 pm. Shareholders on record as of September 22, 2026 will be eligible to attend and vote.

Key Dates and Details

The company has defined specific timelines for the upcoming corporate action:

The register of members and share transfer books will remain closed from September 23 to September 29, inclusive, in compliance with SEBI listing regulations.

Governance Updates

The board appointed M/s Nuren Lodaya & Associates as the scrutinizer for the AGM. The firm will oversee the remote e-voting process to ensure transparency. The board meeting commenced at 12 pm and concluded at 1:30 pm at the registered office in Nagpur.

Muzali Arts Limited returned to profitability in the financial year ended March 31, 2026, reporting a net profit of ₹48.25 lakh compared to a net loss of ₹293.72 lakh in the previous year. The turnaround was driven by a significant reduction in total expenses, which fell to ₹36.95 lakh from ₹327.99 lakh in FY25, alongside a total income of ₹87.24 lakh. The company's Board of Directors approved the audited standalone financial results and financial statements for the year at a meeting held on May 29, 2026.

The statutory auditors, M/s Bilimoria Mehta & Co., issued an unmodified opinion on the standalone financial results, confirming compliance with Indian Accounting Standards (Ind AS) and Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The audit report highlighted that the financial results present a true and fair view of the company's financial performance. The filing was signed by Mr. Murtuza Mansoorbhai, Managing Director, and submitted to the Bombay Stock Exchange.

Financial Performance

For the quarter ended March 31, 2026, the company reported a net profit of ₹23.80 lakh on a total income of ₹56.75 lakh. Revenue from operations for the year stood at ₹45.87 lakh, while other income contributed ₹41.37 lakh. The company recorded a basic earnings per share (EPS) of ₹0.08 for FY26, recovering from a negative EPS of ₹(0.50) in the prior year.

Operational and Governance Updates

The Board approved the re-appointment of Mr. Bhushan Adhatrao, Chartered Accountant, as the Internal Auditor of the company for the financial year 2026-2027 pursuant to Section 138 of the Companies Act, 2013. The appointment is effective from May 27, 2026. Additionally, the auditors noted that the company has derecognized its investment in Jalan & Jalan Collection Inc., classifying it under Ind AS 109 as a financial instrument at fair value, which was recorded at zero due to a negative valuation. The subsidiary has had no active operations since October 2022.