Sprayking Limited has scheduled its 22nd Annual General Meeting (AGM) for Wednesday, September 30, 2026. The meeting will be held via Video Conference or Other Audio-Visual Means (OAVM) starting at 12:30 pm.

The company disclosed these details in a filing to BSE Limited on September 4, 2026. The Register of Members and Share Transfer Books will remain closed from Wednesday, September 23, 2026 to Tuesday, September 29, 2026, determining shareholder eligibility for voting.

Key Agenda Items

Shareholders will transact both ordinary and special business. Under ordinary business, members will consider and adopt the audited standalone and consolidated financial statements for the financial year ended March 31, 2026, along with the reports of the Board and Auditors.

Additionally, Hitesh Pragajibhai Dudhagara (DIN: 00414604), who retires by rotation, will offer himself for re-appointment as a director.

Special Resolution: Related-Party Transaction

A key special resolution seeks shareholder approval for material related-party transactions with Narmada Brass Industries, identified as a subsidiary. The Board proposes entering into service contracts with this entity for an amount not exceeding ₹50 crore during the financial year.

This transaction requires consent pursuant to Section 188 of the Companies Act, 2013, and Regulations 2(1)(zc) and 23(4) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Audit Committee and Board of Directors have recommended the resolution based on arm's length pricing principles.

Board Meeting Outcomes

The board meeting held on September 2, 2026, concluded with several other key approvals. The board considered and approved the draft Board Report along with annexures for FY26, pursuant to Section 134 of the Companies Act, 2013.

The board also approved the Management Discussion and Analysis Report for FY26, prepared in accordance with the Companies Act, 2013, and SEBI Listing Regulations. Furthermore, the board fixed the date, time, and place for the company’s 22nd Annual General Meeting (AGM) and appointed a scrutinizer for the same. The meeting commenced at 4:00 pm and concluded at 6:00 pm.

Appointment Details

Hitesh Pragajibhai Dudhagara has been re-appointed as Executive Director, designated as Managing Director, for a term of five years. The board approved the appointment on September 2, 2026.

The re-appointment is subject to shareholder approval at the ensuing general meeting. The term begins from March 4, 2026, following the recommendation of the audit committee.

Professional Background

Dudhagara oversees the overall operations of the company. His expertise lies in the brass industry sector. He currently serves as the chairman and managing director of Sprayking Limited.

He also holds directorships in Narmadeshwar Metal Private Limited and Narmadesh Brass Industries Limited. The disclosure notes he is the son of Pragjibhai Meghijibhai Patel and the husband of Ronak Hitesh Dudhagara, another director on the board.

Regulatory Compliance

The company made this disclosure pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing was submitted to BSE Limited on September 2, 2026.

Sprayking Limited reported an 83% decline in consolidated net profit to ₹190.36 lakh for the financial year ended March 31, 2026. The company's revenue from operations for the year stood at ₹13,163.52 lakh. The board of directors approved the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, at a meeting held on May 26, 2026.

The standalone financial results for FY26 show a net profit of ₹37.69 lakh, a significant decrease from ₹220.96 lakh in the previous year. Revenue from operations for the standalone entity was ₹5,349.48 lakh, down from ₹6,195.21 lakh in FY25. The company reported a basic earnings per share (EPS) of ₹0.02 for the year on a standalone basis.

Consolidated Performance

The consolidated results include the financials of subsidiary Narmadesh Brass Industries Limited. For the quarter ended March 31, 2026, the company reported a consolidated net loss of ₹242.65 lakh. Revenue from operations for the quarter was ₹4,472.32 lakh. The total comprehensive income for the year stood at ₹190.36 lakh.

The finance costs for the consolidated entity increased to ₹301.45 lakh in FY26 from ₹219.74 lakh in the previous year. Depreciation and amortisation expenses also rose to ₹324.46 lakh from ₹180.98 lakh.

Financial Position

The total consolidated assets as of March 31, 2026, were ₹11,927.63 lakh, comprising non-current assets of ₹3,065.73 lakh and current assets of ₹8,861.90 lakh. The company's equity share capital remained unchanged at ₹2,113.59 lakh. Non-controlling interest stood at ₹2,353.05 lakh.

The net cash generated from operating activities for the consolidated entity was negative at ₹1,782.06 lakh for the year. The company raised ₹3,835.61 lakh through the issue of security premiums during the year. Cash and cash equivalents at the end of the year were ₹10.41 lakh.

B.B. Gusani & Associates, Chartered Accountants, audited the standalone and consolidated financial results and issued an unmodified opinion. The report confirms that the financial results give a true and fair view of the company's financial position.