Shentracon Chemicals reported a net loss of ₹33.35 lakh for the financial year ended March 31, 2026 (FY26), compared to a loss of ₹29.90 lakh in the previous year. The company generated total income of ₹16.75 lakh, primarily from its emerging fashion jewellery business, marking a strategic pivot from its historical chemicals operations. Despite the operational revenue, the loss widened due to exceptional items amounting to ₹40.42 lakh. Shareholders will decide on the company’s future trajectory at the 33rd Annual General Meeting (AGM) on August 21, 2026, where they will vote on renaming the entity to Midaas Fashions Limited and executing a 2:1 stock split to enhance liquidity.

The Board of Directors has proposed a comprehensive restructuring to align the corporate identity with its new business focus. Key resolutions include altering the object clause to permit the manufacturing and trading of gold-plated, imitation, and lab-grown diamond jewellery. To support this transition, the company seeks approval to sub-divide equity shares, reducing the face value from ₹10 to ₹5. This move aims to widen the shareholder base by making shares more affordable for retail investors without altering the total capital value. Additionally, the registered office will shift from West Bengal to Maharashtra to improve administrative efficiency.

Financial Performance and Operational Shift

The financial results for FY26 highlight the transitional phase of the company. While profit before depreciation and tax stood at ₹7.07 lakh, the recognition of exceptional items led to the final net loss. Excluding these non-operational charges, the core operational performance remained stable. The company’s net worth stood at negative ₹225.80 lakh as of March 31, 2026, down from negative ₹192.45 lakh in the prior year. No dividend was recommended for the year. The management emphasized that the revenue generated was in compliance with permitted objects under the Memorandum of Association, signaling a deliberate entry into the fashion jewellery sector.

Governance and Board Changes

A significant change in control occurred during FY26 when Amit Lalit Jain and Hanissh Kanakraj Jaain acquired 52.22% of the equity share capital through a Share Purchase Agreement dated September 4, 2025. Consequently, an open offer was made for up to 26% of the voting share capital at ₹0.50 per share. This acquisition led to a reconstitution of the Board. Amit Lalit Jain has been appointed as Managing Director, while Hanissh Kanakraj Jaain serves as Director. Independent directors Ashish Bakliwal and Madhuri Toshniwal were appointed for five-year terms starting October 24, 2025.

Capital Restructuring Details

The proposed capital restructuring involves reclassifying authorized preference share capital into 12,80,000 Cumulative Non-Convertible Redeemable Preference Shares (CNCRPS) of ₹50 each. Post-split, the authorized equity capital will rise to 1.02 crore shares. The total authorized capital remains unchanged at ₹11.50 crore. The Board also sought approval for loans, investments, and guarantees up to ₹50 crore under Section 186 of the Companies Act, 2013, to fund expansion into new retail verticals.

What the Numbers Show

The divergence between the modest operational profit and the significant net loss underscores the impact of one-time exceptional items rather than core business failure. The strategic pivot to fashion jewellery, supported by a new management team with sector-specific expertise, suggests a long-term repositioning strategy. The stock split and name change are tactical moves to improve market perception and liquidity ahead of full-scale operations in the new segment.

Voting and Meeting Details

Remote e-voting will be facilitated by Central Depository Services (India) Limited (CDSL). The voting window opens on August 18, 2026, at 9:00 A.M. and closes on August 20, 2026, at 5:00 P.M. Shareholders holding shares as of the cut-off date, August 14, 2026, are eligible to vote. Mr. Ajay Yadav, Practising Company Secretary, has been appointed as the Scrutinizer. Statutory auditors M/s. Mark & Co. and secretarial auditor M/s Hemang Satra and Associates have completed their reviews for the year.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE0OUS01011/9f04e22b-31dc-473a-9beb-2a16bf6238e1.pdf

Shentracon Chemicals Limited has appointed Purva Sharegistry (India) Private Limited as its Registrar and Share Transfer Agent (RTA) effective June 29, 2026. This transition follows the amalgamation of the company's previous RTA, C B Management Services Private Limited, with MUFG Intime India Private Limited, effective May 8, 2026. Consequently, the company has shifted its registrar and share transfer activities to the newly appointed entity.

The company received confirmation regarding the transfer of depository connectivity from both National Securities Depository Limited (NSDL) and Central Depository Services (India) Limited (CDSL). NSDL confirmed the change in a letter dated June 25, 2026, while CDSL issued its confirmation on June 29, 2026. The tripartite agreement among the company, the erstwhile RTA, and the new RTA is currently under process, with the company set to inform the stock exchange upon its execution.

All shareholders, investors, and stakeholders have been requested to address all future correspondence, requests, and communications relating to the company's securities to the new RTA. The previous RTA, C B Management Services Private Limited, ceased acting as the R&T Agent for electronic connectivity from the beginning of business on June 29, 2026.

New Registrar and Share Transfer Agent Details