Sidh Automobiles Limited reported a net loss of ₹21.49 lakh for the financial year ended March 31, 2026 (FY26), marking a sharp reversal from the net profit of ₹275.93 lakh recorded in FY25. The decline was driven by a contraction in operating revenue and the absence of non-operating income that had supported profitability in the previous year.

Financial Performance

The company’s sales turnover fell to ₹20.81 lakh in FY26, down from ₹29.16 lakh in FY25. More critically, other income dropped to ₹0.00 lakh, a stark contrast to the ₹206.38 lakh recorded in the prior period. Total income consequently declined to ₹20.84 lakh from ₹342.70 lakh. Against this backdrop, total expenditure rose to ₹42.33 lakh from ₹10.00 lakh, resulting in a pre-depreciation loss of ₹21.49 lakh.

Depreciation charges remained at ₹0.00 lakh for both periods. With no tax liability incurred due to the loss position, the net loss after tax stood at ₹21.49 lakh. The Board did not recommend any dividend for FY26.

What the Numbers Show

The shift from profit to loss highlights a heavy dependency on non-operating income for past profitability. In FY25, other income of ₹206.38 lakh constituted approximately 60% of total income and was the primary driver of the ₹275.93 lakh net profit. In FY26, with other income dropping to nil, the core operations—where expenditure (₹42.33 lakh) exceeded sales turnover (₹20.81 lakh)—emerged as the sole determinant of financial performance, revealing an underlying operational deficit.

Corporate Governance and Board Changes

Sidh Automobiles is classified as a Non-Banking Financial Company (NBFC) and continues to comply with Reserve Bank of India guidelines. The company has not accepted any public deposits during the year under review.

Significant changes occurred in the Board composition during FY26. Mr. Anil Sharma resigned as Managing Director in February 2025, and Mr. Jignesh Keshav Barot stepped down as Chief Financial Officer on the same date. Mr. Shahabaz Nisar Ahmed Shaikh was appointed as Managing Director and CFO effective May 25, 2026. His appointment will be regularized at the upcoming 41st Annual General Meeting scheduled for September 11, 2026.

Due to inadequate profits within the meaning of Section 198 of the Companies Act, 2013, Mr. Shaikh will receive nil remuneration unless approved by members in accordance with Schedule V provisions. Other independent directors, including Ms. Rinku Saini and Mr. Jubin Premji Gada, were appointed or reappointed during the year.

Operational Highlights

The company maintains an authorized share capital of ₹30 crore, with issued, subscribed, and paid-up capital standing at ₹2.96 crore. There were no changes in share capital during FY26. Sidh Automobiles confirmed it has no subsidiaries, joint ventures, or associate companies. The secretarial audit report noted compliance with applicable statutory provisions, though it highlighted previous discrepancies that management has since addressed.

Sidh Automobiles has scheduled its 41st Annual General Meeting (AGM) for Friday, September 11, 2026, at 12:00 pm at its registered office in New Delhi. The meeting aims to transact ordinary business, including the adoption of the audited standalone financial statements for the fiscal year ended March 31, 2026, alongside special business concerning management appointments.

Management Appointment

The primary special business item involves the regularization of the appointment of Mr. Shahabaz Nisar Ahmed Shaikh (DIN No: 11735596) as Managing Director. The Board of Directors, based on recommendations from the Nomination and Remuneration Committee, initially appointed him on May 25, 2026. Shareholders are asked to approve a five-year term commencing from that date.

The notice explicitly states that the company has inadequate profits within the meaning of Section 198 of the Companies Act, 2013. Consequently, no remuneration—whether by way of salary, commission, or perquisites—will be payable to Mr. Shaikh during his tenure unless approved by members in accordance with Schedule V of the Act. The resolution notes that his remuneration may be reviewed by the Board and placed before members for approval if deemed appropriate.

Mr. Shaikh, aged 27, brings extensive experience in corporate management. He holds no shareholding in the company and has no other directorships or relationships with other key managerial personnel.

Voting and Logistics

Shareholders holding shares as on the record date of Friday, September 4, 2026, are eligible to vote. The company has enabled remote e-voting through Central Depository Services (India) Limited (CDSL). The voting window opens on Tuesday, September 8, 2026, at 9:00 am and closes on Thursday, September 10, 2026, at 5:00 pm.

Members can vote via their demat accounts with CDSL or NSDL, or through the CDSL e-voting system for physical shareholders. Those who vote remotely will not be eligible to vote again at the physical meeting but may attend. Mr. Anuj Gupta of Anuj Gupta & Associates has been appointed as the scrutinizer to ensure a fair voting process.

Document Inspection

Statutory registers, including those for director interests and shareholding, will be open for inspection at the registered office from Monday to Friday, 10:00 am to 12:30 pm, excluding holidays. Relevant documents referenced in the notice are also available for inspection up to the date of the AGM.