Sahara Maritime Limited reported a net profit of ₹77.71 lakh for the financial year ended March 31, 2026, compared to ₹23.59 lakh in the previous year. The company has also submitted its annual report and issued notice for its 17th Annual General Meeting (AGM), scheduled for September 26, 2026.

Revenue from operations declined 27.7% to ₹1,825.28 lakh from ₹2,524.08 lakh in FY25. The drop was primarily driven by lower freight charges, which fell to ₹1,469.30 lakh from ₹1,958.41 lakh. Despite the revenue contraction, total expenses decreased more sharply to ₹1,731.83 lakh from ₹2,491.03 lakh, supporting improved profitability.

Financial Performance

The company’s profit before tax rose to ₹100.48 lakh from ₹33.28 lakh in the prior year. Total tax expenses amounted to ₹22.77 lakh, including current tax of ₹23.46 lakh. Earnings per share increased to ₹2.53 from ₹0.77.

Operating expenses saw significant reductions. Freight, handling, and servicing costs fell to ₹1,578.99 lakh from ₹2,221.08 lakh. Other expenses dropped sharply to ₹28.49 lakh from ₹128.92 lakh, largely due to a decrease in legal and professional charges from ₹96.36 lakh to ₹5.57 lakh.

Balance Sheet and Cash Position

Cash and cash equivalents surged to ₹693.59 lakh from ₹85.68 lakh at the end of FY25. This increase was driven by strong operating cash flows of ₹613.23 lakh, reversing an outflow of ₹300.38 lakh in the prior year. Trade receivables increased to ₹598.92 lakh from ₹379.70 lakh, while short-term loans and advances declined significantly to ₹19.75 lakh from ₹733.32 lakh.

Total borrowings reduced to ₹46.64 lakh (long-term: ₹29.21 lakh; short-term: ₹17.43 lakh) from ₹100.01 lakh in FY25. The debt-equity ratio improved to 0.04 from 0.08.

Corporate Governance and AGM Agenda

The 17th AGM will address several key corporate governance matters:

• Auditor Re-appointment: Shareholders will vote on the re-appointment of M/s K. K. Jhunjhunwala & Co., Chartered Accountants, as statutory auditors for a five-year term. The firm was appointed effective July 1, 2026, following the resignation of M/s G A M P & Co.
• Director Rotation: Mr Nadeem Aboobakar Hira retires by rotation and offers himself for re-appointment. He holds 10,05,000 equity shares.
• Promoter Reclassification: Approval is sought to reclassify Ms Pramila Rajesh Soni from the promoter group to the public category. She holds 2,01,000 equity shares (6.55% stake). The move aligns with SEBI Listing Regulations, with Ms Soni undertaking not to hold more than 10% voting rights or act as a director for three years.

Compliance Update

The board noted a delay in appointing a Company Secretary as Compliance Officer. Ms Ramdulari Saini was appointed effective July 1, 2026, rectifying the non-compliance. A fine of ₹1,07,380 was paid to the exchange on September 3, 2026.

What the Numbers Show

The divergence between revenue decline and profit growth highlights significant cost efficiency gains in FY26. While revenue fell nearly 28%, other expenses contracted by over 78%, reducing the drag on margins. Additionally, the sharp reduction in short-term advances (from ₹733.32 lakh to ₹19.75 lakh) alongside a rise in cash balances suggests improved working capital management and liquidity positioning.

Sahara Maritime Ltd has appointed Ms. Ramdulari Saini as its Company Secretary and Compliance Officer, effective July 1, 2026. The Board of Directors also approved the appointment of M/s K. K. Jhunjhunwala & Co. as the new Statutory Auditors to fill a casual vacancy caused by the resignation of the previous auditor, M/s G A M P & Co. The auditor appointment is subject to shareholder approval at the ensuing Annual General Meeting.

The decisions were taken during a Board meeting held on Wednesday, July 1, 2026, pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The meeting commenced at 03:00 PM and concluded at 04:15 PM.

Key Managerial Personnel Appointment

Ms. Ramdulari Saini has been appointed as Company Secretary and Compliance Officer, designated as Key Managerial Personnel. She is an associate member of the Institute of Company Secretaries of India and brings over two years of experience in company secretarial compliances related to the Companies Act and SEBI Regulations. Her appointment is effective from July 1, 2026, and she will perform duties prescribed under Section 205 of the Companies Act, 2013, and Regulation 6 of the Listing Regulations.

Statutory Auditor Appointment

The firm M/s K. K. Jhunjhunwala & Co., holding Firm Registration No. 11852W, was appointed as Statutory Auditors based on the recommendations of the Audit Committee. The firm was established in 1991 and offers services in auditing, taxation, advisory, and financial consultancy. This appointment fills the casual vacancy arising from the resignation of M/s G A M P & Co. (Firm Registration No. 031165N) via their letter dated May 29, 2026.