Progrex Ventures Limited appointed three new directors on September 1, 2026, to support proposed restructuring and enhancement of its business activities.

The Board of Directors approved the immediate appointments of Ms. Monika Gupta and Mr. Shravan Kumar Jaiswal as executive directors, alongside Ms. Meenakshi Aggarwal as an independent director. The company cited the need for enhanced leadership in customer relations, business promotion, and corporate governance as key drivers for the changes.

Board Appointments

The appointments were formalized during a board meeting held at the company's registered office in Bhopal. The new directors bring diverse experience in multinational operations, company affairs, and business management.

Ms. Gupta, who holds an MBA, brings more than 15 years of experience from senior roles in a reputed multinational company. Her appointment focuses on strengthening customer relations and business promotion strategies.

Ms. Aggarwal, a postgraduate with over 10 years of experience, joins as an independent director. Her profile highlights strong analytical communication skills and expertise in stakeholder engagement and policy implementation.

Mr. Jaiswal, also a postgraduate, brings more than 20 years of professional practice in managing business operations. He currently serves as a director in another company and has extensive experience in customer relations and marketing practices beyond traditional areas.

Regulatory Compliance

The appointments comply with Section 161 of the Companies Act, 2013, and Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The board authorized any one of its directors to file Form DIR-2 and other necessary forms with the Registrar of Companies, Gwalior.

No relationships were disclosed between the newly appointed directors. The company confirmed that the appointments were made without any resignation or change in existing directorships requiring disclosure under Schedule III of the Listing Regulations.

Progrex Ventures Limited has filed its audited annual financial results for the fiscal year ended March 31, 2026, with the BSE Ltd. The company, which has abandoned its manufacturing activities and reported no commercial operations during the year, posted a net loss of ₹14.39 lakh. This represents a slight increase from the net loss of ₹14.07 lakh recorded in the previous fiscal year ended March 31, 2025.

The financial statements reveal that revenue from operations was nil for both the current and previous years. Total income for FY26 stood at ₹45,000, derived solely from other income, which halved from the ₹90,000 reported in FY25. Total expenses for the year amounted to ₹14.84 lakh, marginally lower than the ₹14.98 lakh incurred in the prior year.

Financial Performance

The company's earnings per share (EPS) remained negative, with basic and diluted EPS reported at nil for both years due to the net loss position. The paid-up equity share capital remained constant at ₹3.60 crore, comprising 36,04,400 equity shares of ₹10 each. Reserves and surplus decreased to ₹3.59 crore as of March 31, 2026, from ₹3.73 crore in the previous year.

Balance Sheet Highlights

Progrex Ventures' total assets stood at ₹8.38 crore as of March 31, 2026, down from ₹8.49 crore in the previous year. The asset composition was heavily weighted towards current assets, primarily short-term loans and advances amounting to ₹7.83 crore. Cash and cash equivalents improved slightly to ₹8.46 lakh from ₹7.75 lakh in the prior year.

On the liabilities side, shareholders' funds totaled ₹7.19 crore, while deferred tax liabilities accounted for ₹1.03 crore. Current liabilities increased to ₹15.85 lakh, up from ₹11.50 lakh in the previous year, driven by higher short-term borrowings and provisions.

Cash Flow Statement

The cash flow statement indicates a net outflow from operating activities of ₹9.89 lakh for the year. Investing activities provided a cash inflow of ₹10.60 lakh, primarily related to inter-corporate deposits and advances. Consequently, the company reported a net increase in cash and cash equivalents of ₹0.71 lakh, bringing the closing balance to ₹8.46 lakh.

The Board of Directors approved the financial results at a meeting held on May 13, 2026. The statutory auditors, M/s Jain Dhureja & Co., issued an unmodified opinion on the audit report.