Paras Petrofils Limited passed all resolutions at its 35th Annual General Meeting held on September 29, 2026, despite disclosing significant compliance lapses in its secretarial audit report. The meeting, conducted via Video Conferencing, saw minimal public shareholder participation.

The company filed the AGM proceedings on October 6, 2026, citing a delay caused by the Company Secretary’s medical leave due to dengue. The filing was submitted under Regulation 30 of SEBI (LODR) Regulations, 2015.

Voting outcomes on key resolutions

The first resolution sought to receive, consider, and adopt the Audited Standalone Financial Statements for the financial year ended March 31, 2026. The second resolution concerned the reappointment of Sanjay Jayant Bhatt as a director, replacing himself upon retirement by rotation under Section 152(6) of the Companies Act, 2013. Both resolutions were passed with overwhelming support from the promoter group.

Shareholder participation trends

Data from the filing highlights a significant disparity in participation between promoter and public shareholders. Out of 92,245 shareholders on record as of September 18, 2026, only 60 individuals attended via Video Conferencing. Of these, 58 were from the Promoter and Promoter Group, while only two were public shareholders.

In terms of voting power, the Promoter and Promoter Group held 134,461,990 shares but cast votes representing 79,787,400 shares. Public non-institutional shareholders, holding 199,759,010 shares, cast votes for only 44,077 shares. This indicates that public shareholder engagement remained extremely low relative to their shareholding base.

Secretarial audit observations

The Secretarial Audit Report for FY26 highlighted two major compliance violations. The company delayed the appointment of a qualified Company Secretary as Compliance Officer by 92 days, violating Regulation 6(1) of SEBI (LODR) Regulations, 2015. Consequently, Paras Petrofils paid a fine of ₹1,08,560 each imposed by BSE Limited and NSE Limited.

Additionally, the company failed to file Form MGT-14 regarding a Board resolution for granting loans to other body corporates, as required under Section 179(3)(f) read with Section 117 of the Companies Act, 2013. The company acknowledged these observations and stated it would strengthen internal systems to avoid future non-compliance.

What the Numbers Show

The voting data reveals a near-total absence of institutional investor presence, with zero votes polled by Public Institutions across both resolutions. Furthermore, the divergence in dissent is notable: while only one member voted against the adoption of financial statements (1,000 votes), two members voted against the director’s reappointment (2,005 votes). Despite this slight increase in dissent for the directorial appointment, the total votes against remained negligible at less than 0.01% of the total votes polled, underscoring the dominance of promoter control in corporate governance decisions.

Paras Petrofils has confirmed that its 35th Annual General Meeting (AGM) will be held on Tuesday, September 29, 2026, at 11:30 am via Video Conference or Other Audio-Visual Means (VC/OAVM). The company dispatched the notice of the AGM along with the annual report for the financial year 2025-26.

The board previously approved the annual report and notice for the meeting. M. D. Baid & Associates was appointed as the scrutinizer for the e-voting process. Shareholders can participate in the meeting on a first-come, first-served basis, limited to 1,000 members excluding large shareholders, promoters, and institutional investors.

Financial Performance

Paras Petrofils posted a net loss of ₹35.37 lakh for FY26, a reversal from the ₹7.82 lakh profit recorded in FY25. The company confirmed it did not carry out any business operations during the financial year ended March 31, 2026.

The company incurred total expenses of ₹185.19 lakh, up from ₹130.82 lakh in FY25. This increase was primarily driven by a loss on the sale of machinery amounting to ₹159.11 lakh, compared to ₹100.80 lakh in the previous year.

With zero revenue from operations, total income stood at ₹149.82 lakh, derived entirely from other income sources. Interest on loans contributed ₹142.96 lakh, while interest on fixed deposits added ₹6.18 lakh. Other income rose slightly from ₹140.08 lakh in FY25.

Balance Sheet and Assets

As of March 31, 2026, total assets decreased to ₹2,004.68 lakh from ₹2,040.66 lakh in the prior year. Non-current assets fell to ₹285.61 lakh, largely due to a drop in property, plant, and equipment to ₹181.03 lakh from ₹348.14 lakh. Investments increased to ₹103.83 lakh from ₹55.45 lakh. Current assets remained robust at ₹1,719.06 lakh, driven by loans and advances totaling ₹1,662.28 lakh.

The company maintained a strong liquidity position with a current ratio of 278.67 times, up from 241.26 times. Cash and cash equivalents increased to ₹3.08 lakh from ₹0.01 lakh. The firm has no borrowings and reported no trade payables for goods, only ₹4.73 lakh in creditors for expenses.

AGM Details and Corporate Governance

Key agenda items include:

• Adoption of Audited Standalone Financial Statements for FY26.
• Re-appointment of Mr. Sanjay Jayant Bhatt (DIN: 09075125), who retires by rotation. He has attended seven board meetings during the year.

Remote e-voting will be open from September 26, 2026, at 9:00 am to September 28, 2026, at 5:00 pm. The cut-off date for voting eligibility is September 18, 2026.

What the Numbers Show

The shift to a net loss despite stable other income highlights the impact of asset disposals. The loss on sale of machinery (₹159.11 lakh) accounted for approximately 86% of total expenses, indicating that the decline in profitability was non-operational and driven by the realization of remaining capital assets rather than ongoing business costs.