Prabhatam Infra Venture Limited (formerly BJ Duplex Boards Limited) concluded its 32nd Annual General Meeting (AGM) on September 30, 2026, disclosing a 63.24% interest in Swastik Agro Fresh LLP. The company, which recently pivoted to infrastructure and real estate development, also announced two significant projects in the pipeline targeted for completion in FY27.

The AGM was conducted via Video Conferencing (VC) / Other Audio-Visual Means (OAVM) at 1:30 pm. A total of 19 members attended the meeting remotely. The Chairman addressed members regarding the recent transformation of the company, including its name change and alteration of objects towards the real estate and infrastructure sector. The admission as a Body Corporate Partner in Swastik Agro Fresh LLP is aligned with these revised business objectives, providing a platform for new business opportunities.

Financial performance for FY26

The company recorded total income of ₹901.07 thousand in FY26, compared to nil in FY25, driven by rental services revenue of ₹850.00 thousand and other income of ₹51.07 thousand. Total expenditure rose to ₹7,139 thousand from ₹2,123.43 thousand in the previous year, resulting in a net loss of ₹6,237.88 thousand against a loss of ₹2,123.43 thousand in FY25. No dividend has been recommended for the year.

The following table summarises the key financial results:

The board noted that the company did not engage in any business activities during the year as adverse market conditions continued to impact operations. The auditors' report issued by M/s. V. R. Bansal & Associates noted that current liabilities exceed current assets, indicating material uncertainty regarding the company's ability to continue as a going concern.

Share capital and post-period developments

As on March 31, 2026, the authorised share capital stood at ₹12,00,00,000 divided into 12,00,00,000 equity shares of ₹1 each. The issued, subscribed and paid-up share capital stood at ₹1,90,28,500 comprising 1,90,28,500 equity shares of ₹1 each. During FY26, 1,41,00,000 equity shares were allotted on a preferential basis at an issue price of ₹1 per share for an aggregate amount of ₹14,100.00 thousand, following an open offer by Prabhatham Investments Private Limited and Mayank Gupta.

Subsequent to the year-end, at an Extra-Ordinary General Meeting held on May 8, 2026, members approved an increase in authorised share capital from ₹12,00,00,000 to ₹25,00,00,000. The issued, subscribed and paid-up share capital was also increased to ₹22,15,38,850 comprising 22,15,38,850 equity shares of ₹1 each on May 8, 2026.

AGM agenda and auditor changes

The AGM agenda included the adoption of audited standalone financial statements for FY26, re-appointment of Mr. Subhash Sahu (DIN: 08825039) as a director liable to retire by rotation, and appointments of statutory and secretarial auditors. M/s. AD Goyal & Associates were appointed as statutory auditors for five consecutive years from the conclusion of the 32nd AGM. M/s. Parveen Rastogi & Co. were appointed as secretarial auditor for one term of five consecutive years from the conclusion of the 32nd AGM.

M/s. V. R. Bansal & Associates resigned as statutory auditors with effect from August 13, 2026. M/s. Mukesh Agarwal & Co. resigned as secretarial auditors. The board appointed the new auditors subject to member approval at this AGM.

Board composition and governance

As on March 31, 2026, the board comprised four directors. The Key Managerial Personnel (KMP) included Mr. Mayank Gupta as Whole-time Director, Mr. Pramod Kumar as Chief Financial Officer, and Ms. Pooja as Company Secretary & Compliance Officer. During FY26, nine board meetings were held, with 100% attendance recorded at each meeting. The company has only two permanent employees as on the closure of FY26.

Prabhatam Infra Venture Limited has entered into a partnership with Swastik Agro Fresh LLP, securing a controlling interest in the entity through a cash contribution.

The Board of Directors approved the admission of the company as a Body Corporate Partner during its meeting held on September 16, 2026. The move aligns with the company's objectives to participate in real estate development and allied activities.

Transaction Details

Prabhatam Infra contributed ₹3,16,21,000 in cash to acquire a 63.24% partnership interest in Swastik Agro Fresh LLP. The total capital contribution of the LLP stands at ₹5,00,00,000.

Business Scope and Governance

Swastik Agro Fresh LLP is engaged in real estate development, including land acquisition, construction of residential, commercial, and industrial projects, leasing, sales, and joint ventures.

Mayank Gupta, Whole Time Director of Prabhatam Infra, will serve as the nominee and authorised representative for the company in the LLP. The board noted that no specific regulatory approval is required beyond statutory LLP filings.

The transaction is not classified as a related-party transaction, and the promoters or group companies have no disclosed interest in the entity.