Shri Mahalaxmi Agricultural Developments Limited has scheduled its 26th, 27th, 28th, 29th, 30th, 31st, and 32nd Annual General Meetings (AGMs) for Monday, September 29, 2025. The meetings will be conducted through Video Conference (VC) or Other Audio-Visual Means (OAVM) at specific time slots throughout the day to address shareholders. This scheduling follows a Board of Directors meeting held on Friday, August 07, 2026, where the company finalized the calendar of events and approved the Annual Reports and Directors’ Reports for the financial years ended March 31, 2019, through March 31, 2025.

The Board meeting commenced at 4:00 pm and concluded at 4:30 pm on August 07, 2026. During the session, the directors considered and approved the appointment of Neha Anup Poddar Company Secretaries as the Scrutinizer for all the aforementioned AGMs. The company also fixed the cut-off date (Record Date) to determine voting rights for e-voting as Friday, August 21, 2026. E-voting will commence on Wednesday, August 26, 2026, at 9:00 am and close on Friday, August 28, 2026, at 5:00 pm.

AGM Schedule Details

The AGMs are scheduled at distinct times on September 29, 2025, to accommodate the multiple annual meetings being held concurrently. The specific timings are as follows:

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Schedule III thereto. The notice was issued by Kiran Vitthal Bhogate, Executive Director of Shri Mahalaxmi Agricultural Developments Limited, bearing DIN 07844152. The company is listed on the Bombay Stock Exchange (Scrip Code: 539010) and the Metropolitan Stock Exchange of India (Symbol: SMADL).

What This Means for Shareholders

Shareholders entitled to vote must ensure their names appear in the register of members as of the record date, August 21, 2026. The e-voting window opens three days before the record date, allowing shareholders to cast their votes electronically from August 26 to August 28, 2026. The use of VC/OAVM facilities indicates that physical attendance is not required, streamlining the process for remote participation.

Shri Mahalaxmi Agricultural Development Limited reported a net profit after tax of ₹92,73,944.24 for the financial year ended March 31, 2019 (FY19), marking a substantial increase from ₹3,21,996.72 in FY18. The company’s earnings were driven exclusively by non-operational sources, as revenue from operations remained nil due to complete operational dormancy. Total income stood at ₹1,24,76,230.19, compared to ₹1,34,25,395.77 in the prior year, with other income accounting for the entirety of the inflow.

The primary driver of the profitability surge was a net gain on sale of investments amounting to ₹90,46,165.00. This was supplemented by interest income of ₹35,49,324.00 and dividend income of ₹28,876.00. In contrast, total expenses dropped sharply to ₹32,02,285.95 from ₹1,29,91,765.05 in FY18, reflecting reduced operational drag and lower finance costs. The company incurred no tax expense in FY19, whereas it recorded a tax expense of ₹1,11,634 in the previous year.

The company’s balance sheet reflects a shift towards investment holdings rather than active trading or agricultural operations. Long-term loans and advances to related parties increased to ₹113,090,768.00 from ₹75,828,251.00 in the prior year. Current investments decreased to ₹15,388,464.00 from ₹39,453,634.00, indicating partial liquidation of assets to generate the reported gains. Trade receivables also declined to ₹13,645,415.80 from ₹21,712,446.29.

Governance and Regulatory Status

The Board of Directors comprises Mr. Laxmanbhai Panchal, Mrs. Bhavanaben Mahendrabhai Panchal, and Mr. Satish Vadilal Raval. All three directors attended all five board meetings held during FY19. However, the annual report highlights a severe technical synchronization error on the Ministry of Corporate Affairs (MCA) portal, where digital master records incorrectly show former directors as resigned while the current composition remains pending regularization. Consequently, digital filing of committee logs is currently blocked.

Mulraj D Gala & Co., Chartered Accountants, served as the statutory auditors. The auditors confirmed that the company has not accepted any deposits under Section 73 to 76 of the Companies Act, 2013, nor has it raised funds through an IPO or further public offer. No fraud was noticed or reported during the year. The company complied with Section 189 regarding the maintenance of registers for loans given to related parties.

What the Numbers Show

The financial data reveals a company in transition from active operations to a holding structure focused on asset management and related-party lending. The absence of revenue from operations in FY19, compared to ₹78,88,770 in FY18, confirms the cessation of core business activities. The sharp rise in net profit is not indicative of operational efficiency but rather capital realization through investment sales. With long-term borrowings introduced at ₹1.40 crore against zero debt last year, the debt-equity ratio moved to 0.116, suggesting new leverage was taken possibly to fund the increased advances to related parties.