Ras Resorts & Apart Hotels Ltd concluded its 42nd Annual General Meeting (AGM) on September 26, 2026, with all proposed resolutions passed by the shareholders. The meeting was conducted virtually via video conferencing and other audio-visual means, in compliance with Ministry of Corporate Affairs circulars.

The primary agenda items approved included the adoption of the audited financial statements for the financial year ended March 31, 2026, along with the Board of Directors' and Auditors' reports. Additionally, shareholders voted to re-appoint Rahul Shewakramani as a director, who retired by rotation and offered himself for re-appointment.

Voting Results and Participation

The company provided remote e-voting facilities from September 23 to September 25, 2026, alongside live voting during the AGM. The scrutinizer’s report confirmed that both ordinary resolutions were passed with a requisite majority.

Shareholder Participation Details

Out of 1,569 shareholders on the record date of September 19, 2026, 22 individuals attended the meeting through video conferencing. The voting data reveals a significant concentration of power among promoter groups.

What the Numbers Show

The voting results highlight a stark divergence between promoter and public shareholder engagement. Promoter and promoter group members cast votes for 100% of their holdings, totaling 29,50,950 votes. In contrast, public non-institutional shareholders, despite holding 10,18,553 shares, polled only 18,110 votes, representing a mere 1.78% participation rate within their category.

This disparity means that the outcome of the AGM was overwhelmingly determined by the promoter group's unanimous support. For Resolution 1 and Resolution 2, the total votes in favour stood at 29,60,818, while votes against were negligible at 8,242. The low public turnout suggests that the re-appointment of the director and approval of financials were effectively secured by the promoter block alone, rendering the small dissenting vote from the public minority inconsequential to the final result.

Ras Resorts & Apart Hotels reported a 60% year-on-year increase in net profit for FY26, reaching ₹52.40 lakh, as reduced interest expenses offset stable operating revenue. The company also secured necessary shareholder approval for the voluntary delisting of its equity shares from BSE Limited.

The hospitality firm posted total income of ₹13.15 crore, marginally down from ₹13.23 crore in the previous year. Revenue from operations remained flat at ₹12.99 crore. However, profit before tax expanded significantly to ₹72.04 lakh from ₹46.27 lakh in FY25, primarily due to a sharp decline in finance costs.

Financial Performance

Finance costs fell to ₹33.0 lakh in FY26 from ₹50.3 lakh in FY25. This reduction was driven by lower interest expenses and decreased unwinding of financial liabilities. Other income declined to ₹15.1 lakh from ₹25.3 lakh, impacted by lower amortization of financial liabilities and interest income.

Voluntary Delisting Progress

The Board of Directors approved the proposal for voluntary delisting on May 16, 2026. Public shareholders passed the special resolution via postal ballot on June 24, 2026. The company has submitted an application to BSE Limited seeking in-principle approval, which is currently awaited. The promoters, Vishamber Shewakramani and Nalini Shewakramani, are the acquirers in this transaction.

AGM Schedule and Annual Report Access

The 42nd Annual General Meeting is scheduled for September 26, 2026, at 11:00 am via Video Conferencing or Other Audio Visual Means. E-voting will be facilitated by National Securities Depository Limited.

Shareholders holding shares as on September 19, 2026, are eligible to vote. The remote e-voting period runs from September 23 to September 25, 2026. Rahul Shewakramani retires by rotation and offers himself for re-appointment as a director.

In compliance with Regulation 36(1)(b) of the SEBI Listing Regulations, the company informed shareholders that electronic copies of the Notice convening the AGM and the Integrated Annual Report for FY25-26 are available on the company website. Shareholders who have not registered their email addresses with the company or depositories were sent letters with web-links to access these documents. The report is also available on the NSDL e-voting portal and BSE Limited website.

What the Numbers Show

The improvement in profitability is largely structural rather than operational. While top-line revenue stagnated, the significant drop in finance costs indicates successful debt reduction. Borrowings stood at ₹1.97 crore as of March 31, 2026, down sharply from ₹4.09 crore in the prior year. This deleveraging effort directly boosted the bottom line, demonstrating that cost management is currently the primary driver of value creation for the company.