Sakuma Exports has cancelled the board meeting scheduled for September 30, 2026, which was to deliberate on a proposal to raise funds. The cancellation is due to the non-availability of management.

The company informed stock exchanges that the meeting, originally set for 6:30 pm, stands cancelled. Consequently, the trading window closure imposed for this meeting has been revoked, and the trading window is now open for insiders and designated persons.

Original agenda details

Prior to the cancellation, the board was scheduled to consider issuing equity shares, securities, convertible instruments, or other permissible securities. The primary objective was to approve the fund-raising strategy and appoint necessary intermediaries if required. The board also intended to seek member approval for the proposed capital raise through the selected mode, subject to applicable statutory and regulatory approvals.

Trading window status

In compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, the trading window had been closed starting September 24, 2026. This restriction applied to all insiders, designated persons, and their immediate relatives until 48 hours after the declaration of the meeting's outcome. With the meeting cancelled, this restriction has been lifted immediately.

Sakuma Exports reported a 25.4% decline in consolidated revenue to ₹17,174.5 crore for FY26, driven by subdued global sugar prices and shipping disruptions caused by the Middle East conflict. Consolidated net profit after tax fell 34% to ₹980.9 crore. The company will hold its 21st Annual General Meeting on September 29, 2026, to adopt these results.

The Board of Directors approved the draft notice during its meeting on August 29, 2026. Shareholders holding shares as on the record date, September 23, 2026, are eligible to attend and vote. The Register of Members and Share Transfer Books will remain closed from Thursday, September 24, 2026, to Tuesday, September 29, 2026.

Financial Performance

Consolidated turnover decreased by 25.4% to ₹17,174.5 crore from ₹23,020.2 crore in the previous year. Standalone revenue also contracted by 24.1% to ₹14,652.9 crore. Profit before tax on a consolidated basis was ₹150.9 crore, down from ₹229.0 crore in FY25.

Standalone net profit after tax declined to ₹825.2 crore from ₹1,205.2 crore. The company did not declare any dividend for the financial year ended March 31, 2026.

Operational Challenges and Subsidiaries

Sugar export business remained unremunerative due to subdued global prices and halted shipping services to West Asia and Africa. The company expanded domestic trade of sugar and agri-commodities, maintaining growth through established supply chains for maize to multigrain refineries for ethanol production.

Subsidiary performance varied significantly. Sakuma Exports Pte Ltd (Singapore) posted a turnover of USD 40.4 lakh, up from USD 5.9 lakh, but reported a net loss of USD 25,667. Sakuma Exim DMCC (Dubai) saw turnover fall to AED 267.9 lakh with a net profit decline to AED 187,078. Sakuma Impex Limited (London) achieved a turnover of GBP 127.3 lakh against GBP 233.7 lakh previously.

Key Agenda Items

The primary ordinary business includes:

• Adoption of the Audited Standalone and Consolidated Annual Financial Statements for the financial year ended March 31, 2026.
• Approval of the Reports of the Board of Directors and Auditors.
• Re-appointment of Mr. Vivek Grover (DIN: 035994740), who retires by rotation and is eligible for re-election.

Director Profile and Remuneration

Mr. Vivek Grover, who holds a bachelor's degree in chemical engineering, was appointed to the board on May 29, 2017. His expertise lies in marketing and business development. He currently holds no shares in the company.

Voting and Meeting Logistics

The company has appointed Bigshare Services Private Limited to facilitate the virtual meeting and e-voting process. Remote e-voting will be open from Saturday, September 26, 2026, at 9:00 am to Monday, September 28, 2026, at 5:00 pm.

Mr. Rajeev Bhambri, Company Secretary in Practice, has been appointed as the Scrutinizer to oversee the voting process.

Unclaimed Dividends and IEPF

The notice highlights that an amount of ₹1,04,162.06 representing unclaimed final dividend for FY18 was transferred to the Investor Education and Protection Fund (IEPF). Shareholders are advised to claim unpaid dividends for subsequent years before their respective deadlines to avoid transfer to the IEPF Authority.