Salem Erode Investments Limited has scheduled a board meeting on June 22, 2026, to consider raising funds through the issuance of secured redeemable non-convertible debentures (NCDs) on a private placement basis. The meeting will be held at the corporate office of the company to discuss and approve the fund-raising proposal.

The intimation was submitted to BSE Limited under Regulation 29 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing confirms that the primary agenda for the board meeting is to approve the issuance of these debt instruments.

Key Details of the Board Meeting

The board's decision to issue NCDs is aimed at securing capital for the company. The specific terms of the issue, including the coupon rate and tenor, are expected to be determined post the board approval.

Visakh T V, Company Secretary of Salem Erode Investments Limited, signed the intimation sent to the exchange on June 17, 2026. The company has requested the exchange to take the information on record.

Salem Erode Investments Limited reported a net loss of ₹484.66 lacs for the financial year ended March 31, 2026, widening from the net loss of ₹471.93 lacs in the previous year. Total income for the year declined to ₹356.67 lacs from ₹390.77 lacs in FY25, while total expenses reduced to ₹852.87 lacs from ₹885.89 lacs. The statutory auditors issued an unmodified opinion on the standalone financial results, which were approved by the board at its meeting held on May 26, 2026.

The company published the audited standalone financial results for the quarter and financial year ended March 31, 2026, in newspapers "The New Indian Express" and "Dinamani" on May 27, 2026, pursuant to Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing was submitted to BSE Limited.

Financial Performance

The company recorded a loss before tax of ₹496.19 lacs for FY26, compared to a loss of ₹495.12 lacs in the previous year. For the quarter ended March 31, 2026, the net loss stood at ₹139.86 lacs. Basic and diluted earnings per share for the year were reported at a loss of ₹4.23 per share. The company maintained full asset cover by way of hypothecation of all loan receivables and advances on its secured unlisted redeemable non-convertible debentures as at March 31, 2026.

Asset and Liability Position

Total assets as at March 31, 2026, stood at ₹3,236.30 lacs, a decrease from ₹3,643.53 lacs in the previous year. Cash and cash equivalents dropped significantly to ₹70.29 lacs from ₹555.80 lacs. Loans and advances grew to ₹1,718.76 lacs from ₹1,353.84 lacs. On the liabilities side, borrowings (other than debt securities) were recorded at ₹200.00 lacs, while debt securities stood at ₹1,112.08 lacs. Equity share capital remained unchanged at ₹114.66 lacs.