Patron Exim Ltd held its 4th Annual General Meeting on September 30, 2026, via Video Conferencing/Other Audio-Visual Means, passing all three ordinary resolutions with requisite majority.

The meeting commenced at 4:00 pm and concluded at 4:15 pm. The record date for e-voting eligibility was September 23, 2026, with 1,057 total shareholders on record. Remote e-voting was open from September 27, 2026 (9:00 am IST) to September 29, 2026 (5:00 pm IST) through the NSDL platform. Two promoter group members and 14 public shareholders attended via video conferencing.

Meeting participation and voting overview

The consolidated voting data across all three resolutions showed identical results. Out of a total of 23,180,000 shares, 5,031,800 votes were polled, representing 21.7075% of outstanding shares. Of valid votes cast, 4,675,800 (92.9250%) were in favour and 356,000 (7.0750%) were against. No invalid votes were recorded and no members abstained.

Resolutions passed

All three resolutions were ordinary resolutions, with promoters and promoter group not interested in any of the agenda items. The following resolutions were considered and passed:

• Resolution 1: To receive, consider and adopt the financial statements of the company for the year ended March 31, 2026, including the audited Balance Sheet as at March 31, 2026, and the Statement of Profit and Loss for the year ended on that date, along with reports of the Board of Directors and Auditors.
• Resolution 2: To re-appoint Narendrakumar Gangaramdas Patel (DIN: 07017438) as Managing Director, who retires by rotation and, being eligible, offers himself for re-appointment.
• Resolution 3: Appointment of A. Shubhangi & Associates, Company Secretaries as the Secretarial Auditor of the company.

Category-wise voting breakdown

The promoter and promoter group held 464,380 shares and cast 4,643,800 votes entirely in favour across all three resolutions, representing 100.0000% of their polled votes. Public institutions held zero shares and cast no votes. Public non-institutions held 18,536,200 shares and polled 388,000 votes (2.0932% of their holdings), of which 32,000 were in favour and 356,000 were against.

The scrutinizer's report was issued on October 2, 2026, pursuant to Section 108 of the Companies Act, 2013 and Rule 20(4)(xii) of the Companies (Management and Administration) Rules, 2014, and submitted to BSE Limited under Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Patron Exim reported a net loss of ₹108.96 lakh for the financial year ended March 31, 2026 (FY26), reversing a profit of ₹7.10 lakh in the previous year. The company’s revenue from operations declined marginally to ₹2,420.85 lakh from ₹2,436.42 lakh in FY25.

The Board of Directors approved the audited standalone financial statements during its meeting on September 8, 2026. The company has scheduled its fourth Annual General Meeting (AGM) for September 30, 2026, to be held via video conferencing.

Financial Performance

The company’s total revenue stood at ₹2,429.52 lakh in FY26, compared to ₹2,467.94 lakh in FY25. Other income dropped significantly to ₹8.67 lakh from ₹31.52 lakh in the prior year. The loss before tax was ₹108.46 lakh, with a current income tax expense of ₹0.50 lakh.

Auditor Qualifications and Compliance Issues

The statutory auditor, M/s. J. M. Patel & Bros, issued a qualified opinion on the financial statements. Key concerns included:

• Related Party Loans: Loans and advances to related parties increased to ₹28.78 crore from ₹16.41 crore in FY25. These loans bear no interest and lack formal agreements, raising recovery risks.
• Unverifiable Revenue: Sales of ₹23.72 crore up to September 30, 2025, could not be verified due to missing transportation evidence, godown details, or loading/unloading expenses. No physical stock verification was conducted.
• Tax Dues: The company has unpaid income tax dues of ₹49.88 lakh and TDS of ₹34.45 lakh. Additionally, an online outstanding demand of ₹15.37 crore for income tax and ₹2.61 crore for interest for AY2023-24 remains unappealed and undisclosed as a contingent liability.
• Internal Controls: The company failed to appoint an internal auditor as mandated by Section 138 of the Companies Act, 2013. It also did not implement accounting software with a non-disable audit trail, violating Section 128(5).

Corporate Actions and AGM Details

The Board appointed M/s. A. Shubhangi & Associates as the secretarial auditor for five consecutive financial years (FY27 to FY31). This appointment requires shareholder approval at the upcoming AGM.

The fourth AGM will be held on September 30, 2026, at 4:00 pm via Video Conferencing/Other Audio-Visual Means. The deemed venue is the registered office in Ahmedabad. Shareholders holding shares in dematerialized form as on September 23, 2026, are eligible to vote. Remote e-voting will be open from September 27, 2026, at 9:00 am to September 29, 2026, at 5:00 pm.

Key Ratios

The current ratio decreased to 4.69 from 7.37 in FY25, driven by an increase in current liabilities. The debt-equity ratio improved to 0.05 from 0.13 due to a decrease in overall loan borrowings. Return on equity turned negative to -2.86% from 0.18% in the previous year.