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.

Saffron Industries board of directors approved the audited financial statements for the fiscal year ended March 31, 2026, along with the Directors' Report. The approval was finalized during a meeting held on August 20, 2026, at the company's registered office.

The board also approved the notice for the company's 33rd Annual General Meeting (AGM). The meeting is scheduled to take place on September 24, 2026, at 11:00 am at Nava-Bharat Bhawan, Chatrapati Square, Wardha Road, Nagpur.

Key Agenda Items

The AGM will transact the following business:

• Consider and adopt the audited financial statements for FY26, including the reports of the Auditors and the Board of Directors.
• Appoint a director in place of Mr. Manoj Rameshwar Sinha (DIN: 07564967), who retires by rotation and offers himself for reappointment.

Share Transfer Book Closure

The Register of Members and Share Transfer Books will remain closed from September 17, 2026, to September 24, 2026, both days inclusive. This closure period coincides with the record date for determining shareholder eligibility for the AGM.

The board meeting commenced at 3:35 pm and concluded at 4:00 pm on August 20, 2026. The disclosures were made in compliance with Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.