Neelkanth Rockminerals has scheduled its 38th Annual General Meeting for September 30, 2026, to adopt financial statements for FY26 and reappoint key directors. The company reported a net profit of ₹22.72 lakh for the year ended March 31, 2026, an increase from ₹19.55 lakh in the previous year. Total income stood at ₹64.41 lakh, derived entirely from other income as revenue from operations remained nil.

The Board of Directors approved the agenda and adopted the annual report during its meeting on September 5, 2026. The corporate action follows compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements), 2015. The Board authorized the Notice of Annual General Meeting and the Directors Report to be attached to the Annual Report for shareholder adoption.

Financial Performance

The company’s profitability improved despite having no operational revenue, driven by interest income on loans and advances. Total expenses decreased to ₹32.76 lakh from ₹40.30 lakh in FY25. The Directors’ Report notes that the closure of the company’s unit has posed challenges, but management is exploring alternate avenues to make the company operative. The company is currently undergoing a takeover/acquisition process, pursuant to which the acquirer has made an open offer.

Meeting Details

The AGM is set to take place at the company's registered office in Jodhpur, Rajasthan. Shareholders are required to be on record by a specific date to participate in the proceedings.

Shareholder Entitlements

The company fixed August 28, 2026, as the record date to determine entitlements for receiving the Annual Report. To ensure clean registers for the meeting, the Register of Members and Share Transfer Books will remain closed from September 23, 2026, through September 30, 2026, inclusive.

Agenda Items

The meeting will transact ordinary and special business. Key items include:

• Adoption of Audited Financial Statements for FY26.
• Reappointment of Mr. Anil Sayarchand Kavar as Director, who retires by rotation.
• Reappointment of Mr. Noratmal Kavar as Managing Director for a three-year term from March 26, 2026, to March 25, 2029.

E-Voting Facility

Pursuant to Section 108 of the Companies Act, 2013, the company is providing remote e-voting facilities via Central Depository Services (India) Limited (CDSL).

Noratmal Kawar, Managing Director, signed the disclosure filed with the Bombay Stock Exchange.

Mr. Sesha Sai Nikhil Chintalapati has launched an open offer to acquire up to 13,11,362 fully paid-up equity shares of Neelkanth Rockminerals , representing 26.00% of the company’s voting share capital. The offer price is fixed at ₹19.40 per equity share, payable in cash. The tendering period for public shareholders commenced on August 18, 2026, and will close on September 1, 2026.

The Committee of Independent Directors (IDC) of Neelkanth Rock-Minerals Limited recommended the offer as fair and reasonable in a statement published on August 14, 2026. The IDC noted that the offer price aligns with SEBI (SAST) Regulations, 2011, and exceeds the highest price among selective criteria mentioned in the justification of the offer price. Shareholders are advised to independently evaluate the offer before tendering their shares.

Offer Mechanics and Timeline

The open offer is being implemented through the stock exchange mechanism via a separate acquisition window. The Letter of Offer was dispatched to eligible shareholders identified as on August 4, 2026, through electronic mode on August 10, 2026, and physical mode on August 11, 2026. All public shareholders, including those acquiring shares after the identified date, remain eligible to participate during the tendering period.

Shareholders holding shares in dematerialized form must approach their registered stockbrokers during normal trading hours to tender shares. Those holding physical shares may participate through selling brokers by submitting Form SH-4 along with relevant documents. If acceptance forms are unavailable, applications can be made on plain paper with specific details such as folio numbers for physical shares or DP ID and beneficiary account numbers for demat shares.

Regulatory and Corporate Governance Updates

The acquirer has incorporated comments received from SEBI vide Observation Letter No. HO/49/12/11(75)2026-CFD-RAC-DCR1/I/17925/2026 dated July 31, 2026, into the Letter of Offer. There are no competing offers for this transaction. The acquirer is not associated with any securities-related business nor registered with SEBI as a market intermediary.

Post-acquisition, changes in the composition of the Board of Directors will be made in accordance with the Companies Act, 2013, SEBI (LODR) Regulations, 2015, and Regulation 24 of the SEBI (SAST) Regulations, 2011. If the public shareholding falls below the minimum required level under Rule 19A of the SCRR, the acquirer will ensure compliance through measures such as offer for sale, rights issue, or qualified institution placement.

As on March 31, 2026, Neelkanth Rock-Minerals reported no contingent liabilities. The promoter group had not filed any report under Regulation 10(7) of SEBI (SAST) Regulations, except for an acquisition of 4,63,850 equity shares (9.20%) on September 7, 2018. No directors representing the acquirer currently sit on the target company’s board.