Shricon Industries shareholders approved the appointment of M/s Birla and Associates as statutory auditor for a term of five years at its 40th Annual General Meeting (AGM) held on August 4, 2026. The virtual meeting, chaired by Director Om Prakash Maheshwari, also saw the ratification of related party transactions with Career Point Edutech Limited and Career Point University, Hamirpur, along with the reappointment of Mrs. Neelima Maheshwari as a director.

The meeting commenced at 4:00 P.M. via Video Conferencing (VC) and Other Audio Visual Means (OAVM), concluding at 4:17 P.M., in compliance with Ministry of Corporate Affairs General Circular No. 03/2025 dated September 22, 2025, and SEBI Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015. Thirteen members attended, satisfying the quorum requirement of at least five members under the Companies Act, 2013. All resolutions were transacted through the National Securities Depository Limited (NSDL) e-voting system.

Key Resolutions Passed

The Board placed seven resolutions before the members. The appointment of M/s Birla and Associates serves a dual purpose: filling a casual vacancy caused by the resignation of the previous auditor for FY25-26 and securing their tenure for five consecutive years until the conclusion of the 45th AGM in 2031.

Governance and Compliance

The meeting adhered to regulatory mandates under Regulation 30 of SEBI LODR Regulations, 2015. Company Secretary Raghuv Dhul confirmed that the combined results of remote e-voting and voting conducted during the AGM would be declared within 48 hours of the meeting's conclusion, pending receipt of the scrutinizer’s report. The results will be uploaded to the stock exchanges, NSDL, and the company’s website simultaneously.

The Audit Committee, Stakeholders Relationship Committee, and Nomination & Remuneration Committee chairpersons were present during the proceedings. The Board’s report and financial statements for FY25-26 were taken as read, having been circulated to members in advance.

Shricon Industries Limited returned to profitability in the financial year ended March 31, 2026, recording a net profit of ₹147.84 lakh compared to a loss of ₹14.83 lakh in the previous year. The company’s total revenue surged to ₹403.39 lakh, a significant increase from ₹58.83 lakh in FY25, driven by operational growth. This turnaround marks a recovery for the company, which had reported a loss in the prior fiscal period.

The company’s board has scheduled its 40th Annual General Meeting for August 04, 2026, at 04.00 P.M. IST through video conferencing. Pursuant to Regulation 34(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Annual Report along with the Notice of the AGM has been submitted to the Bombay Stock Exchange. The report details the financial performance and operational metrics for the year.

Financial highlights indicate a robust improvement in earnings before interest, taxes, depreciation, and amortisation (EBITDA), which stood at ₹223.87 lakh for FY26, up from ₹74.53 lakh in the previous year. Expenditure for the year was reported at ₹223.25 lakh, an increase from ₹73.66 lakh in FY25. The tax expense for the current year was ₹32.30 lakh, compared to nil in the previous year.

On the balance sheet front, the company reported zero borrowings as of March 31, 2026, down from ₹0.93 lakh in the previous year. Non-current assets decreased to ₹255.52 lakh from ₹334.45 lakh. Current assets saw a substantial rise to ₹338.63 lakh from ₹85.86 lakh, while current liabilities increased to ₹28.23 lakh from ₹1.34 lakh. Cash and bank balances improved to ₹51.51 lakh from ₹15.58 lakh.

The Annual Report also disclosed related party transactions, including sales and purchases of goods with entities such as Career Point Edutech Limited and Career Point University, Hamirpur. The company has proposed inter-corporate deposits of up to ₹15 crore each with CP Capital Limited and Sankalp Capital Private Limited to meet day-to-day requirements and working capital needs, respectively.

Financial Performance for FY26

Key Balance Sheet Metrics