Panther Industrial Products has scheduled its 38th Annual General Meeting (AGM) for Wednesday, September 30, 2026. The meeting will commence at 11:00 am Indian Standard Time and will be conducted exclusively through Video Conferencing or Other Audio-Visual Means. The company reported a net loss of ₹23.06 lakh for FY26, down from ₹45.77 lakh in the previous year, with no operational revenue generated.

The company published the public notice in The Times of India and Nav Bharat newspapers on September 9, 2026. This disclosure aligns with Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and Ministry of Corporate Affairs Circular No. 20/2020 dated May 5, 2020. The Notice of the 38th AGM was dated September 4, 2026.

Financial Performance and Auditor Change

For the financial year ended March 31, 2026, Panther Industrial recorded total income of ₹10,929, comprising solely of other income, as revenue from operations was nil. Total expenses stood at ₹23.17 lakh, driven primarily by other expenses of ₹21.90 lakh and depreciation of ₹1.27 lakh. Consequently, the net loss narrowed by nearly half compared to FY25.

A significant corporate governance development involves the change in statutory auditors. M/s Rajesh H. Gupta & Co., appointed for a five-year term starting in September 2025, resigned effective August 13, 2026, citing no concerns or issues. The Board has proposed the appointment of M/s R P M G and Associates as statutory auditors to fill the casual vacancy from September 4, 2026, until the conclusion of the AGM, followed by a full five-year term until the 43rd AGM in 2031.

Strategic Developments and Balance Sheet Signals

The Directors' Report discloses that the Board approved a Scheme of Amalgamation on April 8, 2026, under which Panther Industrial is proposed to be amalgamated with Shivang Edibles Oils Limited. The company is currently completing the necessary statutory and regulatory formalities for this transaction.

On the balance sheet, trade receivables decreased significantly from ₹8.48 crore in FY25 to ₹111.40 lakh in FY26. These receivables are due from NH Securities Ltd, an associate company under the same management. The auditor noted that while the management is confident of recovery, no provision has been made despite huge losses and uncertainty in business operations. Additionally, borrowings were reduced from ₹7.42 crore to ₹23.20 lakh, primarily reflecting a reduction in inter-corporate deposits from related parties.

Meeting Logistics and Compliance

In adherence to MCA General Circulars Nos. 14/2020, 17/2020, 20/2020, 02/2021, 21/2021, 02/2022, and 11/2022, along with subsequent circulars including No. 09/2024 dated September 19, 2024, the AGM will proceed without physical presence at a common venue. Members can attend and participate solely through the VC/OAVM facility. Attendance via this mode will count toward reckoning the quorum under Section 103 of the Companies Act, 2013.

E-Voting and Document Access

The Annual Report for FY26, alongside the AGM notice, will be dispatched electronically to members with registered email addresses. Remote e-voting facilities will be available from Sunday, September 27, 2026, at 9:00 am to Tuesday, September 29, 2026, at 5:00 pm. The record date for voting eligibility is Wednesday, September 23, 2026. The book closure period runs from Saturday, September 26, 2026, to Wednesday, September 30, 2026 (both days inclusive).

Members without registered email addresses are advised to update their details with their Depository Participants or Registrars and Transfer Agents to access voting credentials. The notice and annual report will also be accessible on the company’s website and the BSE platform.

Kaushik C. Shah, Managing Director, signed the notice from Gwalior.

Panther Industrial Products board approved the appointment of M/s R P M G and Associates as statutory auditors to fill a casual vacancy. The decision was taken during a meeting held on September 4, 2026.

The firm will serve for a term of five consecutive years, starting from the conclusion of the ensuing General Meeting until the conclusion of the 43rd Annual General Meeting. This appointment is subject to the approval of members at the upcoming General Meeting scheduled for September 30, 2026.

Auditor Profile

M/s R P M G and Associates (FRN: 015428C) was constituted as a partnership firm in 2010. The firm’s head office is located in New Delhi. It comprises professionals with expertise in audit, accounting, taxation, and financial advisory services.

The firm has experience in statutory, concurrent, internal, stock, revenue, and special audits. It also conducts currency chest verifications, particularly for nationalised, private, and cooperative banks.

Regulatory Disclosures

The appointment details were disclosed under Regulation 30 of SEBI (LODR) Regulation, 2015. The company stated there are no relationships between the appointed auditors and the directors of the company.

The Board recommended the appointment subject to terms and conditions approved by the members.