Neelamalai Agro Industries company name has fixed the book closure period for its 83rd Annual General Meeting (AGM) and dividend payment from August 13 to August 19, 2026. The Board of Directors, in a meeting held on May 29, 2026, determined these dates to facilitate the declaration of a 200% dividend on equity shares. The record date for determining shareholder eligibility is set for Wednesday, August 12, 2026. This announcement clarifies the timeline for shareholders to hold dematerialized shares to be eligible for the dividend payout and to participate in the upcoming AGM.

The company will conduct the 83rd AGM via Video Conferencing (VC) or Other Audio-Visual Means (OAVM) on Wednesday, August 19, 2026, at 11:00 A.M., in compliance with Ministry of Corporate Affairs (MCA) guidelines. Shareholders holding shares as of the cut-off date of August 12, 2026, are eligible to vote. Remote e-voting through Central Depository Services (India) Limited (CDSL) opens on Sunday, August 16, 2026, at 9:00 A.M. and closes on Tuesday, August 18, 2026, at 5:00 P.M. Members who do not vote remotely may cast their votes during the live virtual session.

The primary agenda for the AGM includes the adoption of audited financial statements for FY26, the declaration of the dividend, and the re-appointment of Mrs. Shanthi Thomas as Whole Time Director designated as Executive Director. Mrs. Thomas retires by rotation but is eligible for re-appointment. She holds 4,14,618 equity shares jointly with Chairman Mr. Ajit Thomas and drew a total remuneration of ₹49.89 Lakhs in FY26. Her package includes a basic salary of ₹3,00,000 to ₹5,00,000 per month, House Rent Allowance of ₹50,000 per month, and other benefits such as provident fund contributions at 12%, gratuity, and insurance.

Key Dates and Voting Procedures

Regulatory Compliance and Disclosures

The meeting adheres to MCA General Circulars No. 14/2020, 17/2020, 20/2020, 02/2021, 03/2022, 10/2022, 09/2023, 09/2024, and 03/2025, along with relevant SEBI Circulars. Physical attendance is not permitted, and proxy appointments are unavailable. Mr. V Suresh, Senior Partner of M/s. V. Suresh Associates, Chennai, serves as the Scrutinizer for the e-voting process. He will submit a consolidated report within two working days of the meeting's conclusion.

Shareholders are reminded that unpaid dividends for Financial Year 2017-2018 and the Interim Dividend for Financial Year 2018-2019 have been transferred to the Investor Education & Protection Fund (IEPF). Unclaimed Final Dividend for Financial Year 2018-2019 will also be transferred to the IEPF during Financial Year 2026-2027 if not claimed within seven years. Trading of shares is permitted only in dematerialized form, and all transfers must be effected in demat mode as per SEBI mandates.

neelamalai agro industries reported a standalone net profit of ₹251.39 lakh for the financial year ended March 31, 2026, a decline of 27.1% compared to ₹344.92 lakh in FY25. Despite the drop in profitability, revenue from operations grew by 9.5% to ₹2,544.84 lakh, supported by a higher average tea sale price of ₹170.69 per kg against ₹150.18 per kg in the prior year. The Board of Directors has proposed a final dividend of ₹20 per share (200%), amounting to ₹124.41 lakh, subject to shareholder approval at the upcoming Annual General Meeting (AGM) on August 19, 2026.

The company’s total income rose to ₹3,298.67 lakh from ₹3,161.45 lakh in FY25. However, this growth was offset by rising expenses, particularly depreciation and amortization, which surged to ₹218.97 lakh from ₹134.12 lakh. Finance costs remained marginal at ₹1.37 lakh. Tea production stood at 12.42 lakh kg with an average yield of 2,182 kg per hectare, slightly lower than the 13.14 lakh kg produced in the previous year. Bought leaf production increased significantly to 2.15 lakh kg from 0.85 lakh kg.

Financial Performance Highlights

Consolidated results showed a stronger performance, with consolidated net profit rising to ₹2,912.19 lakh from ₹2,319.98 lakh in FY25. This increase was primarily driven by the share of profit from associates and joint ventures, which accounted for ₹3,275.15 lakh in FY26 compared to ₹2,541.12 lakh in the previous year. Consolidated revenue from operations also increased by 9.5% to ₹2,544.84 lakh.

Operational and Governance Updates

The AGM will be held via Video Conferencing/Other Audio-Visual Means (VC/OAVM). Shareholders holding shares as of the record date, August 12, 2026, are eligible to vote. Mrs. Shanthi Thomas, Executive Director, retires by rotation and is eligible for re-appointment. The Board also noted that M/s PKF Sridhar & Santhanam LLP will complete their second term as Statutory Auditors at the conclusion of the 84th AGM.

Foreign exchange earnings amounted to ₹800.89 lakh, while outgo was ₹46.62 lakh. The company transferred unpaid dividends for FY17-18 and interim dividends for FY18-19 to the Investor Education & Protection Fund (IEPF). Shares related to unclaimed dividends for seven consecutive years have also been transferred to the IEPF Authority.

What the Numbers Show

The divergence between the standalone and consolidated results highlights the company's reliance on its associate entities for overall profitability. While the core tea plantation business saw a contraction in standalone net profit due to higher depreciation and operational costs, the equity-accounted profits from associates like AVT Natural Products Limited provided a significant buffer. The 63% increase in depreciation expense suggests substantial capital expenditure or revaluation adjustments impacting the standalone bottom line, even as revenue grew robustly on the back of better tea prices.