Neelkanth Limited reported a net profit of ₹24.76 lakh for the financial year ended March 31, 2026, marking a substantial increase from ₹0.77 lakh in the previous year.

The company filed its annual report with the Bombay Stock Exchange (BSE) on August 28, 2026, disclosing audited financial statements prepared in accordance with Indian Accounting Standards (Ind AS). The results reflect a shift in revenue composition and significant changes in the board of directors during the fiscal year.

Financial Performance

Revenue from operations declined to ₹327.99 lakh in FY26, down from ₹494.08 lakh in FY25. Despite the drop in operating revenue, total income stood at ₹387.68 lakh, supported by a surge in other income.

Other income jumped to ₹59.69 lakh from ₹1.14 lakh in the prior year, primarily driven by interest income of ₹53.56 lakh and a profit of ₹3.44 lakh on the sale of property, plant, and equipment. Earnings before interest, taxes, depreciation, and amortization (EBITDA) rose sharply to ₹65.39 lakh from ₹16.48 lakh.

What the Numbers Show

The divergence between declining operating revenue and surging net profit highlights a heavy reliance on non-operating gains. Other income constituted approximately 15.4% of total income in FY26, up from just 0.2% in FY25. While operational profitability improved with an EBITDA margin expansion, the bottom-line growth was disproportionately driven by interest receipts and asset sales rather than core trading activities.

Balance Sheet and Cash Flow

Total assets increased to ₹1,099.21 lakh from ₹1,011.39 lakh in FY25. This growth was largely fueled by a rise in inventories, which climbed to ₹856.23 lakh from ₹167.73 lakh, indicating a buildup of stock-in-trade.

Trade receivables decreased significantly to ₹86.75 lakh from ₹160.14 lakh, suggesting improved collection efficiency or lower credit sales volume. Cash and cash equivalents dropped to ₹0.25 lakh from ₹18.38 lakh, reflecting working capital deployment. Total borrowings stood at ₹39.00 lakh, comprising non-current borrowings of ₹31.25 lakh and current maturities of ₹7.75 lakh.

Corporate Developments

Neelkanth Limited underwent significant leadership changes during FY26. Bhavik Bhimjyani was appointed as Chairman & Managing Director effective April 21, 2026, succeeding Yogesh Dawda, who resigned from the role. Devidas Jayram Shejul joined the board as an Independent Director in March 2026, while Yogesh Thakker resigned from the same position.

The company did not declare any dividend for FY26. The 46th Annual General Meeting is scheduled for September 21, 2026, where shareholders will consider the re-appointment of Mrs. Asha Dawda as a director.

Neelkanth Limited board approved the annual report for FY26 and scheduled its 46th annual general meeting for September 21, 2026. The company also appointed a scrutinizer for the e-voting process.

The Board of Directors held its meeting on August 24, 2026, commencing at 1:30 pm and concluding at 2:00 pm. During the session, directors approved the Directors' Report along with annexures, including the secretarial audit report and the Management Discussion and Analysis Report for the financial year ended March 31, 2026.

AGM Logistics and Voting Details

The 46th Annual General Meeting will be convened on Monday, September 21, 2026, at 11:15 am via video conferencing or other audio-visual means. CS Hemanshu Upadhyay, proprietor of M/s HRU & Associates, has been appointed as the scrutinizer for the e-voting process.

Remote e-voting will commence on Friday, September 18, 2026, at 9:00 am and end on Sunday, September 20, 2026, at 5:00 pm. Shareholders must be on record as of Monday, September 14, 2026, to be eligible to vote through remote e-voting.

Register Closure

The Register of Members and Share Transfer Book will remain closed from Tuesday, September 15, 2026, to Monday, September 21, 2026, both days inclusive. This closure facilitates the preparation of the register for the annual general meeting.

Business Agenda and Director Reappointment

The primary ordinary business includes receiving, considering, and adopting the Audited Financial Statements for the financial year ended March 31, 2026, along with the reports of the Board of Directors and Auditors.

Additionally, shareholders will vote on the reappointment of Mrs. Asha Y. Dawda (DIN: 06897196) as a director. She retires by rotation and, being eligible, has offered herself for reappointment. Mrs. Dawda, aged 63, holds a Bachelor of Commerce degree and brings 30 years of experience in administration, management, trading, and marketing. She was first appointed to the board on July 13, 2014, and attended 11 board meetings during FY25-26. She currently serves on the Nomination and Remuneration Committee of Asian Warehousing Limited.

Participation Guidelines

In compliance with Ministry of Corporate Affairs circulars, the AGM is being held through Video Conferencing or Other Audio-Visual Means without physical presence. The deemed venue is the company's registered office in Mumbai. Proxies are not accepted for this virtual meeting. Institutional shareholders must submit scanned copies of board resolutions authorizing their representatives to vote.

Members are advised to update their KYC details, including PAN, bank account information, and nominations, with the Registrar and Transfer Agent, MUFG Intime India Private Limited, to avoid folio freezing or payment restrictions.