Saffron Industries concluded its 33rd Annual General Meeting on September 24, 2026, at Nava-Bharat Bhavan in Nagpur. The meeting focused on adopting the audited financial statements for FY25 and the re-appointment of a key director.

Manoj R. Sinha, Whole-time Director and Chairman, presided over the session. He confirmed that the requisite quorum was present as per the Companies Act, 2013. The Notice of the AGM, Financial Statements, and Directors' Report were taken as read with member consent, as no qualifications were noted in the Auditor's Report.

Ordinary business resolutions

Two primary items constituted the ordinary business of the day:

1. Adoption of audited financial statements for the year ended March 31, 2025.
2. Re-appointment of Manoj Sinha (DIN: 07564967), who retired by rotation and offered himself for re-election.

No queries or clarifications were raised by members during the open floor segment. The Board had appointed Khushal Bherulal Bajaj, a Practicing Company Secretary, as the scrutinizer to oversee both remote e-voting and polling paper votes.

Voting mechanism and timeline

The company facilitated remote e-voting from September 21 to September 23, 2026. Members present at the venue voted via polling papers to ensure proportional voting rights. The scrutinizer is mandated to submit the consolidated voting report within two days of the meeting's conclusion.

Key attendees

The statutory auditors did not attend due to unavoidable circumstances, though their representative was not required to speak as the report was clean. The meeting concluded at 11:30 am with a vote of thanks.

Saffron Industries Limited will hold its 33rd Annual General Meeting on September 24, 2026, at its registered office in Nagpur. The meeting aims to adopt financial statements for FY26 and consider the re-appointment of Whole-time Director Manoj Sinha, who retires by rotation.

Financial Performance

The Nagpur-based real estate developer reported a net profit of ₹1.57 crore for the year ended March 31, 2026, compared to ₹2.80 crore in FY25. Revenue from operations rose 8.6% year-on-year to ₹6.86 crore, driven by plot sales. However, operating expenses increased significantly, leading to a contraction in profitability. Other income remained stable at ₹3.32 lakh.

*Profit before depreciation, finance costs, and tax.

What the Numbers Show

The divergence between revenue growth and profit decline highlights rising cost pressures. While top-line revenue expanded by nearly 9%, profit before depreciation and tax fell 22%. This compression was driven by a rise in total expenses from ₹3.54 crore in FY25 to ₹5.40 crore in FY26. Depreciation charges also increased by 12.8% to ₹2.25 crore, reflecting the asset base despite the discontinuation of paper manufacturing activities.

Balance Sheet and Cash Flow

The company reduced its long-term borrowings substantially during the year. Non-current borrowings fell from ₹11.84 crore in FY25 to ₹1.96 crore in FY26, primarily due to repayments to related parties. Trade payables surged to ₹5.94 crore from ₹1.69 crore, indicating higher working capital requirements or delayed payments to vendors. Inventory levels, largely comprising work-in-progress for land development, edged up slightly to ₹7.05 crore.

Corporate Governance

Whole-time Director Manoj Sinha retires by rotation at the AGM and offers himself for re-appointment. He has served as a director since July 12, 2016, and holds a B.E. in Civil Engineering. His last drawn remuneration was ₹7.20 lakh. The Board did not recommend a dividend for FY26 to conserve resources. Sanyam Sunil Jain was appointed as Company Secretary & Compliance Officer effective June 27, 2026.

Meeting Details

Remote e-voting will commence on September 21, 2026, at 9:00 am and end on September 23, 2026, at 5:00 pm. The register of members and share transfer books will remain closed from September 17, 2026, to September 24, 2026. Members are advised to update their email addresses with depository participants to receive the integrated annual report electronically.