Sawaca Enterprises Limited held its 32nd Annual General Meeting on September 30, 2026, through Video Conferencing/Other Audio Visual Means. The meeting focused on the adoption of audited financial statements for the fiscal year ended March 31, 2026, and director re-appointments.

The proceedings were conducted in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company utilized remote e-voting facilities provided by NSDL, allowing shareholders to cast their votes prior to and during the virtual meeting.

Resolutions passed at the meeting

The following ordinary and special businesses were transacted during the AGM:

Auditor observations and governance

The Statutory Auditor's report on the financial statements for FY26 generally did not contain qualifications or adverse remarks. However, a specific observation was noted regarding the use of accounting software. The auditor highlighted that the software lacked a feature for recording an audit trail, a matter which was addressed in detail within the Director's Report.

The Company Secretary confirmed that M/s. Mukesh H. Shah & Co., Practicing Company Secretaries, were appointed as Scrutinizers to ensure fair and transparent scrutiny of the remote e-voting and voting processes during the AGM.

Sawaca Enterprises has dispatched the notice for its 32nd Annual General Meeting (AGM), scheduled to be held on September 30, 2026, at 1:00 pm via video conferencing or other audio-visual means.

The company sent the notice along with the Annual Report for Financial Year 2025-26 electronically to members with registered email addresses on September 4, 2026. The documents are also available on the company’s website and the BSE Limited portal.

Corporate Governance & AGM

Shareholders will consider the re-appointment of Mr. Satish R Shah as a director and approve his continuation beyond the age of 75 years. The Board has appointed M/s Mukesh H. Shah & Co., Company Secretaries, as the scrutinizer for the e-voting process.

Remote e-voting will commence on September 27, 2026, at 9:00 am and end on September 29, 2026, at 5:00 pm. The cut-off date for determining voting rights is September 23, 2026. The book closure period is from September 24, 2026, to September 30, 2026, both days inclusive.

Members holding shares in physical mode are requested to register or update their details by writing to the company with their folio number and a self-attested copy of their PAN card. Demat holders must contact their Depository Participant to register their email address.

Board Changes

During the year, Mr. Vijay Shah and Mrs. Lilaben Agaja resigned from the board effective September 4, 2025. They were replaced by Mr. Kishor Agaja and Mrs. Binaben Shah, who were appointed as additional non-executive independent directors and regularized at the 31st AGM. Mr. Shetal S. Shah continues as Chairman, Managing Director, and CFO.

Financial Performance

Sawaca Enterprises reported a net loss of ₹41.16 lakh for FY26, widening from a loss of ₹34.89 lakh in the previous year. The decline was driven by a sharp contraction in operational revenues.

The company's total revenue from operations dropped 53.84% to ₹3,796.79 lakh from ₹8,225.12 lakh in FY25. Total expenses decreased proportionately to ₹4,002.10 lakh from ₹8,369.71 lakh. Despite the lower operating loss before tax of ₹10.96 lakh compared to ₹9.22 lakh previously, higher tax expenses contributed to the widened bottom-line deficit.

The deterioration in top-line growth was accompanied by rising finance costs and depreciation. Finance costs surged to ₹23.15 lakh from ₹5.97 lakh, while depreciation expense more than doubled to ₹29.69 lakh from ₹16.12 lakh. Other income increased to ₹216.27 lakh from ₹153.81 lakh, primarily due to higher interest income.

Balance Sheet & Liquidity

Total assets stood at ₹6,849.19 lakh as on March 31, 2026, slightly down from ₹6,967.79 lakh a year ago. Non-current assets rose significantly to ₹4,334.04 lakh from ₹2,568.97 lakh, driven by an increase in loans to ₹3,834.17 lakh from ₹1,945.02 lakh. Conversely, current assets fell to ₹2,515.15 lakh from ₹4,398.82 lakh.

Borrowings increased substantially. Current borrowings jumped to ₹310.56 lakh from ₹7.38 lakh, while non-current borrowings declined to ₹59.66 lakh from ₹260.30 lakh. The debt-equity ratio improved marginally to 0.06 from 0.05.