Shangar Decor Limited will convene an Extra-Ordinary General Meeting (EGM) on June 30, 2026, to seek shareholder approval for the appointment of two Independent Directors. The meeting, scheduled for 11:30 AM IST via video conferencing, will consider resolutions to appoint Mr. Darshil Hemendrakumar Shah and Mr. Konark Patel as Non-Executive Independent Directors for a term of five years effective from April 3, 2026. These appointments are subject to the approval of members and are intended to strengthen the company's governance structure.

The Board of Directors approved the notice for this meeting on June 5, 2026. The company has established June 23, 2026, as the cut-off date to determine shareholder eligibility for voting. Mr. Anuj Bharatbhai Udani, a Practising Company Secretary, has been appointed as the scrutinizer to oversee the e-voting and remote participation process.

Key Meeting Details

Proposed Appointments

The resolutions propose the appointment of Mr. Darshil Hemendrakumar Shah (DIN: 09013533) and Mr. Konark Patel (DIN: 10832659). Both individuals have submitted declarations confirming they meet the criteria of independence under Section 149(6) of the Companies Act, 2013, and Regulation 16(1)(b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Their tenure, if approved, will extend from April 3, 2026, to April 2, 2031, and they will not be liable to retire by rotation.

Shareholders can participate in the meeting through Video Conferencing or Other Audio-Visual Means (OAVM). The facility for remote e-voting will be available from June 27, 2026, to June 29, 2026. Members holding shares as of the cut-off date are eligible to vote. The company published advertisements for this meeting in the Business Standard Newspaper and Jai Hind Newspaper on June 6, 2026.

Shangar Decor Limited reported an 82.2% increase in net profit for the financial year ended March 31, 2026, rising to ₹147.46 lakh from ₹80.91 lakh in the previous year. Revenue from operations grew 27% to ₹2,326.07 lakh, driven by higher activity in the wedding and theme decor sectors. The board approved the audited standalone financial results for the quarter and year ended March 31, 2026, during a meeting held on May 28, 2026.

For the quarter ended March 31, 2026, the company recorded a net profit of ₹50.71 lakh, a turnaround from the net loss of ₹158.76 lakh reported in the corresponding period of the previous year. Revenue for the quarter stood at ₹1,299.23 lakh. Total expenses for the year increased to ₹2,118.31 lakh from ₹1,731.41 lakh in FY25, primarily due to higher purchases of stock-in-trade and depreciation costs.

The board recommended the regularization of the appointment of Mr. Darshil Hemendrakumar Shah and Mr. Konark Patel as Independent Directors (Non-Executive) for a term of five years effective April 3, 2026, subject to shareholder approval. The trading window closure, implemented from April 1, 2026, will remain in effect until 48 hours after the financial results are made public.

Financial Performance for FY26

Auditor's Observations

The statutory auditor, M/s S K Bhavsar & Co., issued an audit report with an unmodified opinion. However, the report drew attention to the absence of balance confirmation letters and reconciliation statements for certain trade receivables and payables. Additionally, satisfactory supporting documents for inventory valuation and investment reliability were not furnished, raising concerns about the completeness of liabilities and the accuracy of reported assets.

Pursuant to Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company published a newspaper advertisement on May 30, 2026, containing the extract of the audited financial results. The advertisement appeared in the Business Standard newspaper and the Jai Hind newspaper.