Priya Limited will close its register of members and share transfer books from September 24, 2026, to September 30, 2026. This closure facilitates the company's 39th Annual General Meeting (AGM).

The AGM is scheduled to take place on Wednesday, September 30, 2026, at 11:30 am. The venue is Daji Parab Sabhagruh, located near Ramdhut Building on Mahadev Palav Marg, Curry Road (East), Mumbai.

Regulatory Compliance

The intimation was issued pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. It also aligns with Section 91 of the Companies Act, 2013.

Hussain Bohra, Company Secretary and Compliance Officer of Priya Limited, confirmed the dates. The closure period includes both the start and end dates.

Priya Limited reported a net profit of ₹434.50 lakh for the fiscal year ended March 31, 2026, reversing a net loss of ₹391.71 lakh in the previous year. The turnaround was driven entirely by non-operational items, as the company generated zero revenue from operations during the period.

The primary driver of the profit was a notional gain of ₹803.39 lakh recognized under exceptional items. This figure represents the accounting adjustment arising from the auction of the company's office premises by lending banks following the classification of its accounts as Non-Performing Assets (NPA). The company has been declared a wilful defaulter by Bank of Maharashtra, Indian Bank, and Union Bank of India.

Financial Performance

Despite the reported bottom-line profit, Priya Limited continues to face severe operational constraints. Revenue from operations remained at nil for both FY26 and FY25. The company incurred an operational loss before exceptional items, with total expenses standing at ₹368.99 lakh against other income of just ₹0.10 lakh.

Finance costs accounted for ₹357.07 lakh of the total expenses, largely comprising notional interest on NPA accounts. The cumulative outstanding interest payable on these accounts reached ₹2,763.82 lakh as of March 31, 2026.

Balance Sheet Signals

The company's balance sheet reflects a negative net worth, with total equity standing at (₹4,463.55 lakh). Total liabilities exceeded total assets by this amount. Borrowings decreased to ₹1,716.96 lakh from ₹2,609.26 lakh in the previous year, primarily due to the adjustment of outstanding loans against the value of auctioned properties.

Investment property, which stood at ₹107.51 lakh in FY25, was fully derecognized in FY26 following the bank-led auctions of premises in Mumbai, Kolkata, and Chennai. The company has deposited ₹175 lakh in a "non-lien account" with Indian Bank towards a proposed one-time settlement of outstanding dues amounting to approximately ₹22.81 crore.

What the Numbers Show

The reported net profit is entirely illusory regarding operational health. The ₹434.50 lakh profit is derived solely from the ₹803.39 lakh exceptional item. Without this notional accounting entry, the company would have reported a significant operational loss. Furthermore, the company has not provided tax provisions on this gain, citing judicial precedents that capital gains tax may not apply when assets are appropriated for security discharge without cash receipt by the owner. This creates uncertainty around the final impact on net worth.

Corporate Governance and Audit

The statutory auditors, JM & Associates, issued an adverse opinion on the financial statements. Key concerns included the inability to verify interest provisions due to blocked bank accounts and lack of confirmations from lenders. The secretarial audit highlighted multiple compliance lapses, including delayed filing of listing fees, non-functional website, and failure to fill the Chief Financial Officer vacancy since November 2022.

The 39th Annual General Meeting is scheduled for September 30, 2026. The board recommended no dividend for FY26.