Royal India Corporation Limited shareholders approved all three resolutions proposed at the 42nd Annual General Meeting (AGM) held on September 30, 2026. The meeting, conducted in Mumbai, saw a turnout of 64 individuals representing both promoter and public shareholding categories.

The scrutinizer’s report confirmed that each resolution received overwhelming support, with votes in favour accounting for 99.98% of the total valid votes cast. Only 11,000 votes were recorded against the proposals, representing a negligible 0.02% of the total voting power exercised.

Resolutions Passed

The business transacted at the AGM included ordinary resolutions for the adoption of financial statements and the reappointment of key management personnel. The specific resolutions approved were:

1. To receive, consider and adopt the audited financial statements for FY26, along with Board and Auditor reports.
2. To appoint a director in place of Mr. Sourav Sharma, who retired by rotation and offered himself for re-election.
3. To re-appoint Mr. Nitin Gujral as Managing Director for a period of five years.

Voting Participation Details

The company provided remote e-voting facilities via NSDL alongside physical polling at the venue. The record date for entitlement to vote was September 23, 2026. The following table summarizes the participation and voting outcome:

Scrutinizer Report Highlights

Kaushal Doshi & Associates, appointed as the scrutinizer by the Board on September 2, 2026, certified the fairness of the voting process. The report noted that no invalid or defective ballot papers were found during scrutiny. The consolidated report was issued on October 1, 2026, confirming that all resolutions were duly passed with the requisite majority under the Companies Act, 2013.

Royal India Corporation Limited reported a net profit of ₹53.00 crore for the financial year ended March 31, 2026, marking a sharp increase from ₹10.83 crore in FY25.

The company’s total income stood at ₹121.63 crore, down significantly from ₹222.73 crore in the prior year. Revenue from operations declined to ₹46.05 crore compared to ₹220.02 crore previously.

Financial Performance

The substantial rise in profitability was primarily driven by other income rather than operational revenue growth. Other income surged to ₹75.58 crore from ₹2.71 crore in FY25. This increase was largely attributable to a ₹71.99 crore reversal of notional interest expense recorded during the period.

Operating expenses fell sharply to ₹43.85 crore from ₹211.25 crore. Finance costs dropped to ₹20,617 from ₹3.92 crore, reflecting a reduction in borrowing obligations. Depreciation remained stable at ₹2.31 lakh.

Balance Sheet and Capital Structure

The company issued 85 lakh equity shares during the year through the conversion of convertible warrants at ₹10 each. This increased the paid-up equity share capital to ₹117.97 crore from ₹109.47 crore.

Total assets decreased to ₹184.29 crore from ₹225.23 crore. Non-current financial assets, specifically inter-corporate deposits, rose to ₹49.01 crore from ₹43.35 crore. Conversely, borrowings were fully repaid, reducing non-current liabilities to ₹1.52 crore from ₹101.16 crore in the previous year.

Corporate Governance and AGM

The Board of Directors has scheduled the 42nd Annual General Meeting for September 30, 2026, at the Yashwantrao Chavan Centre in Mumbai. Key agenda items include the adoption of audited financial statements and the re-election of Mr. Sourav Sharma as a director retiring by rotation.

Additionally, shareholders will vote on the re-appointment of Mr. Nitin Gujral as Managing Director for five years, effective August 8, 2026. His remuneration is proposed at ₹5.40 lakh per annum, subject to future increases based on performance evaluations.

No dividend has been recommended for FY26. The statutory auditors, M/s Rakchamps & Co. LLP, issued an unqualified opinion on the standalone financial statements.