Progrex Ventures Limited reported a net loss of ₹14.39 lakh for the fiscal year ended March 31, 2026, widening from a ₹14.07 lakh loss in FY25. The company recorded no revenue from operations as its business activities remain suspended.

The Bhopal-based firm, formerly known as Progressive Extractions & Exports Limited, generated only ₹45,000 in other income during the year, down from ₹90,000 in the prior period. Total expenditure stood at ₹14.84 lakh, driven primarily by legal and professional expenses of ₹7.15 lakh and salaries of ₹7.25 lakh. Depreciation charges remained flat at ₹15,887.

Financial Position

Total assets decreased slightly to ₹83.85 lakh from ₹84.85 lakh in FY25. The balance sheet shows significant illiquidity, with short-term loans and advances constituting ₹78.26 lakh of total current assets. This includes an unsecured inter-corporate deposit of ₹495.25 lakh placed with Betwa Realtors Private Limited, on which no interest was recognized due to default.

Cash and cash equivalents rose marginally to ₹8.46 lakh from ₹7.75 lakh. Short-term borrowings increased to ₹78,350 from ₹40,000 in the previous year. Deferred tax liabilities remained unchanged at ₹103.47 lakh.

What the Numbers Show

The company's financial structure is heavily skewed toward non-operational assets. With zero revenue and negligible operating income, the ₹495.25 lakh inter-corporate deposit represents over five times the company's total equity and liabilities combined. This concentration highlights a critical dependency on the recovery of this specific asset for any future viability, as current operations generate insufficient cash flow to service even minimal overheads.

Corporate Governance

The 45th Annual General Meeting is scheduled for September 30, 2026. The Board proposed the reappointment of directors Avneesh Sabherwal, Shruti Dange, and Sanjay Wase. New appointments include Monika Gupta and Shravan Kumar Jaiswal as executive directors, and Meenakshi Aggarwal as an independent director. No dividend was recommended for the year.

Progrex Ventures Limited has scheduled its 45th Annual General Meeting (AGM) for September 30, 2026. The meeting will convene at the company’s registered office in Bhopal to transact ordinary business, including the adoption of financial statements and the appointment of directors.

Shareholders holding securities as on the cut-off date of September 23, 2026, are eligible to vote. The register of members and share transfer register will remain closed from September 26 to September 30, 2026, inclusive. This closure period aligns with the remote e-voting window.

E-Voting Schedule

Remote e-voting commences on Saturday, September 26, 2026, at 10:00 am and concludes on Tuesday, September 29, 2026, at 5:00 pm. The facility is provided by National Securities Depository Limited (NSDL) and applies to shareholders holding shares in either physical or electronic form. Members who have cast their votes remotely cannot vote again at the physical meeting.

AGM Agenda

The primary business items for the 45th AGM include:

• Receiving and adopting the Directors' Report, Profit and Loss Account for the year ended March 31, 2026, and the Balance Sheet as at that date.
• Appointing Mr. Avneesh Sabherwal as Director, who retires by rotation.
• Appointing Ms. Shruti Dange as Director, who retires by rotation.
• Appointing Mr. Sanjay Wase, Ms. Monika Gupta, Ms. Meenakshi Aggarwal, and Mr. Shravan Kumar Jaiswal as directors.
• Reappointing M/s. Jain Dhureja & Company, Chartered Accountants, as statutory auditors until the conclusion of the next AGM.

Corporate Details

Progrex Ventures Limited, formerly known as Progressive Extractions & Exports Limited, is registered in Bhopal, Madhya Pradesh. The company’s registered office is located at 232, Shri Mohan Parisar, Zone-I, Maharana Pratap Nagar, Bhopal. The notice for the AGM was submitted to the Bombay Stock Exchange on September 2, 2026.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE421E01012/b30baed5-e398-4045-b2e3-6ae9535d78a9.pdf