SK International Export issued the notice for its Eighth Annual General Meeting (AGM) scheduled for September 24, 2026. The board previously approved the FY26 annual report during a meeting on August 29, 2026.

The AGM will convene at 11:00 am at the company’s registered office in Mumbai. Shareholders will transact ordinary business, including the adoption of audited financial statements for the year ended March 31, 2026.

Director Reappointment

The primary agenda item is the reappointment of Mr. Hitesh Sadh as a director. He retires by rotation and offers himself for re-election. Mr. Sadh serves as the Managing Director and has been with the company since September 13, 2018.

Mr. Sadh holds a Bachelor’s Degree in Commerce from Mumbai University. He brings over 15 years of experience in garment manufacturing, trading, and export operations. He oversees sales, marketing, public relations, and human resources functions for the company.

Corporate Governance Updates

The board appointed KNK & Co LLP as the Secretarial Auditors for FY27. This firm was also appointed as the Scrutinizer for the upcoming AGM to ensure fair voting procedures. The appointment follows a recommendation from the Audit Committee.

Meeting Logistics

Key dates and details for shareholders include:

• Book Closure: The Register of Members will remain closed from September 15, 2026, to September 23, 2026. This corrects earlier reports citing September 17 as the start date.
• Venue: 78, Ground, A2, Shah & Nahar Industrial Estate, Sitaram Jadhav Marg, Lower Parel, Mumbai – 400013.
• Document Access: The Annual Report and AGM Notice are available on the company website. KFin Technologies Limited acts as the Registrar and Transfer Agent.

Members entitled to vote may appoint proxies. Proxy forms must be deposited at the registered office at least 48 hours before the meeting commences.

SK International Export Ltd reported a net loss of ₹29.67 lakh for the financial year ended March 31, 2026, as total income declined to ₹226.90 lakh from ₹528.02 lakh in the previous year. The company's statutory auditors, SDA & Associates, issued a qualified opinion on the financial results, highlighting material uncertainty regarding the entity's ability to continue as a going concern due to the absence of substantial operational business activities and a dependency on gains from speculative trading in equity, F&O, and commodity markets.

The auditor's report identified multiple significant issues, including the inability to verify balances for trade payables, trade receivables, and short-term loans due to a lack of confirmations. The auditors noted that fixed asset records were incomplete and that certain assets were not physically available, leading to a write-off of ₹13.14 lakh. Additionally, the company wrote off non-saleable raw material and inventory amounting to ₹95.31 lakh. The auditors also pointed out that loans and advances aggregating to ₹160.75 lakh were granted without adequate supporting documentation, raising doubts about their genuineness and recoverability.

Financial Performance

The company's financial results for FY26 show a sharp deterioration compared to the prior year. Revenue from operations dropped to ₹14.93 lakh from ₹281.39 lakh in FY25. Other income, which includes gains from investments and trading activities, stood at ₹211.97 lakh, down from ₹246.63 lakh in the previous year. Total expenditure for the year was ₹244.10 lakh. Consequently, the company reported a basic and diluted loss per share of ₹0.40 for FY26, compared to an earnings per share of ₹2.95 in FY25.

Audit Qualifications and Accounting Issues

Beyond the going concern doubts, the auditors flagged several accounting irregularities. Interest income was recognized only on a receipt basis rather than an accrual basis, which is not in compliance with the Companies Act, 2013. The auditors also expressed an inability to determine the extent of inadmissible or personal expenses charged to the statement of profit and loss under heads such as business promotion, travelling, and fuel. Furthermore, the valuation of finished goods inventory could not be verified due to the absence of regular sales and reliable net realizable value evidence.

Balance Sheet Position

As of March 31, 2026, the company's total assets stood at ₹671.96 lakh, a decrease from ₹713.89 lakh in the previous year. Shareholders' funds were recorded at ₹665.55 lakh, comprising share capital of ₹733.20 lakh and a negative reserve and surplus of ₹67.65 lakh. The balance sheet reflects a significant reduction in tangible fixed assets to ₹31.52 lakh from ₹114.19 lakh, following the write-offs. Cash and cash equivalents increased to ₹361.01 lakh, while short-term loans and advances rose to ₹226.82 lakh.