Shri Venkatesh Refineries Limited passed all 8 resolutions at its 24th Annual General Meeting held on September 29, 2026, with 100% votes in favour via remote e-voting. The results were declared on October 1, 2026.

The AGM was held via video conferencing at 11:00 am and concluded at 11:20 am. Mr. Prasad Kabre, Whole Time Director, welcomed members and confirmed the requisite quorum was present. Remote e-voting remained open from September 26, 2026 at 9:00 am to September 28, 2026 at 5:00 pm. The cut-off date for determining eligible voters was September 24, 2026. The total number of shareholders on the record date was 1,111. Purva Shareregistry (India) Pvt. Ltd was appointed as the agency for providing the e-voting facility.

Ordinary resolutions passed

Three ordinary resolutions were put to vote. These covered the adoption of audited financial statements for FY26, the re-appointment of Shri Shantanu Ramesh Kabre (DIN: 00316643) as a director retiring by rotation, and the declaration of a final dividend for FY26. All three received unanimous approval. The table below summarises the voting outcome for each ordinary resolution.

Special resolutions passed

Five special resolutions were also approved unanimously. These included approval of material related party transactions, shifting of the company's registered office, and the re-appointment of three independent directors. The voting details for all special resolutions are as follows.

Meeting proceedings and compliance

The meeting was conducted in compliance with circulars issued by the Ministry of Corporate Affairs and the Securities and Exchange Board of India, as well as the Companies Act, 2013. The following directors were present at the meeting.

The scrutinizer's consolidated report was submitted by Nitin S. Sharma, Practicing Chartered Accountant (COP 107155) of M/s. Nitin S. Sharma & Co., Jalgaon, who was appointed by the Board of Directors through a resolution dated September 7, 2026. The voting results were intimated to BSE Limited in compliance with Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Shri Venkatesh Refineries reported a net profit of ₹3,820.26 lakh for FY26, up from ₹1,807.87 lakh in the previous year. The company’s net sales more than doubled to ₹1,37,757.38 lakh, reflecting robust operational performance despite global oil price volatility.

Financial Performance

The edible oil refiner saw its total revenue rise to ₹1,37,872.35 lakh in FY26, compared to ₹70,239.04 lakh in FY25. This growth was underpinned by a significant increase in sales of manufactured and traded goods. Profit before tax stood at ₹5,225.34 lakh, nearly doubling from ₹2,445.85 lakh a year earlier.

Finance costs increased to ₹1,926.91 lakh from ₹1,060.47 lakh, reflecting higher borrowing levels to support working capital requirements. Employee benefits expense remained stable at ₹36.04 lakh.

Balance Sheet and Cash Flow

Total assets expanded to ₹58,679.78 lakh from ₹33,382.41 lakh. Inventories rose sharply to ₹37,418.07 lakh, up from ₹23,144.00 lakh, indicating stockpiling ahead of demand cycles. Short-term borrowings increased to ₹21,138.00 lakh from ₹10,811.66 lakh, while long-term borrowings grew to ₹10,201.91 lakh.

Cash generated from operations turned negative at ₹(6,984.68) lakh, compared to positive ₹110.72 lakh in FY25, primarily due to higher inventory buildup and trade receivables. Financing activities generated ₹10,910.04 lakh through fresh borrowings.

What the Numbers Show

The divergence between operating cash flow and reported profit highlights significant working capital absorption. While net profit doubled, the company deployed substantial liquidity into inventory (up ₹14,274.09 lakh) and short-term loans/advances (up ₹3,681.89 lakh). This suggests aggressive stocking strategies or extended credit terms to suppliers, rather than immediate cash conversion from sales growth.

Dividend and Corporate Actions

The Board of Directors recommended a final dividend of 10% on face value, equivalent to ₹1 per share, subject to shareholder approval at the Annual General Meeting. The AGM is scheduled for September 29, 2026, via video conferencing.

Shareholders will also vote on shifting the registered office from Jalgaon to Mumbai to improve investor coordination. Additionally, resolutions seek approval for material related-party transactions totaling over ₹19,400 lakh with entities such as Shri Balaji Oil Mills and Shrikrupa Ginners Pvt Ltd.