S & T Corporation Limited held its 42nd Annual General Meeting on Monday, September 28, 2026, via Video Conferencing and Other Audio Visual Means. The meeting concluded with the approval of audited financial statements for the fiscal year ended March 31, 2026, and the re-appointment of a director retiring by rotation.

Key resolutions passed

The Chairman, Ajay Savai, presented the businesses set out in the notice for member approval. Two ordinary business items were transacted:

1. Adoption of Audited Financial Statements of the Company on both Standalone and Consolidated operations for the Financial Year ended March 31, 2026.
2. Appointment of a director in place of Dhaval Savai (DIN: 07003711), who retired by rotation and was eligible for re-appointment.

Voting and participation details

The Company provided remote e-voting facilities to members as of the cut-off date of September 21, 2026. The remote e-voting period commenced on September 25, 2026, at 9:00 am and concluded on September 27, 2026, at 5:00 pm. Members who did not cast votes through remote e-voting were able to vote electronically during the meeting itself.

Meeting proceedings

Ajay Savai took the chair and briefed members on the virtual participation process, including details of the Remote E-Voting facility. He introduced the Directors and Key Managerial Personnel attending via video conferencing and confirmed the presence of representatives from the Statutory Auditor and Secretarial Auditors. Requisite quorum was present, allowing the Chairman to commence proceedings.

The meeting concluded at 11:41 am with a vote of thanks to the chair. The consolidated results of the remote e-voting and e-voting at the AGM are to be submitted to BSE Limited and uploaded on the Company's website within stipulated timelines.

S&T Corporation has scheduled its 42nd Annual General Meeting for Monday, September 28, 2026, at 11:30 am via Video Conferencing. The meeting will approve the audited financial statements for FY26 and seek re-appointment of Non-Executive Director Dhaval Ajay Savai. The company has also dispatched letters with web-links to the Annual Report for FY26 to shareholders who have not registered email addresses.

Financial Performance

The company reported a sharp divergence between top-line growth and bottom-line profitability for the fiscal year ended March 31, 2026. Standalone operating revenue surged 771.5% year-on-year to ₹232.63 lakh, up from ₹26.69 lakh in FY25. This growth was primarily driven by the resumption of trading in yarn and other textile products, alongside continued real estate development and property leasing activities.

Despite the significant revenue expansion, standalone net profit before tax declined 82.2% to ₹1.24 lakh from ₹6.97 lakh in the previous year. Consolidated net profit also contracted, falling to ₹0.21 lakh from ₹4.02 lakh. The decline in profitability occurred despite a reduction in total expenses relative to revenue growth, suggesting margin compression in the new trading segments.

What the Numbers Show

While revenue expanded nearly eightfold, the company’s cost structure grew disproportionately faster. Total expenses rose by 545.4% to ₹248.94 lakh, outpacing the revenue growth of 771.5% but eroding margins significantly. In FY25, expenses constituted roughly 144% of revenue due to low operational scale; in FY26, expenses accounted for approximately 107% of standalone operating revenue before other income. Other income remained relatively flat at ₹17.54 lakh, failing to offset the margin pressure from the core trading operations.

Corporate Governance & Board Changes

Mr. Dhaval Ajay Savai retires by rotation at the AGM and offers himself for re-appointment. He holds a 9.17% stake in the company and has attended 100% of board meetings during FY26. The Board comprises seven directors, including three independent directors.

The company faced regulatory scrutiny regarding compliance. The Secretarial Audit Report noted a fine of ₹24,780 paid to BSE Limited for delayed filing of the Statement of Investors' Grievances for the quarter ended September 30, 2025. Additionally, the report highlighted that not all promoter shareholding is held in demat mode, citing an erroneous classification of a nominal shareholder as a promoter group entity.

Dividend and Reserves

The Board did not recommend any dividend for FY26, citing carry-forward losses and the need to conserve resources for future expansion. No amount was transferred to General Reserves.

Shareholder Communications

Pursuant to Regulation 36(1)(b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, S&T Corporation dispatched letters providing web-links to the Annual Report for FY26 to shareholders whose email addresses are not registered with the company, Registrar & Share Transfer Agent, or depositories. The notice for the 42nd AGM and the Annual Report are available on the company website.

The company reminded shareholders holding physical securities to update their KYC details, including PAN, address, mobile number, bank account details, specimen signature, and nomination choice, as mandated by SEBI Master Circular No. SEBI/HO/MIRSD/POD-1/P/CIR/2024/37 dated May 7, 2024. Shareholders with unupdated folios will only be eligible for payments through electronic mode effective April 1, 2024.