SRM Energy seeks nod for MD, director appointments

srm energy has announced a postal ballot notice dated May 20, 2026, to seek shareholder approval for several key resolutions. The company is proposing the appointment of Mr. Umesh Narpatchand Sanghvi as Managing Director for a period of five years effective from March 16, 2026. Additionally, the notice seeks the regularization of Mrs. Sapna Umesh Sanghvi, who was appointed as an Additional Director, by appointing her as a Non-Executive Director.

The company has also proposed the appointment of two Independent Directors, Mr. Gopal Ajay Malpani and Mrs. Pooja Navnit Maheshwari, for a term of five years from March 16, 2026, to March 15, 2031. These appointments are subject to the approval of shareholders through special resolutions. Furthermore, the company intends to alter its Memorandum of Association by deleting the Object Clauses mentioned under Clause III (C) and renumbering the clauses.

In another resolution, SRM Energy Limited seeks to appoint M/s. HSPN & Associates LLP as Secretarial Auditors for a period of five years, from the financial year 2025-2026 to 2029-2030. This appointment is intended to fill the casual vacancy caused by the resignation of the earlier Secretarial Auditor, M/s. S K Nirankar & Associates.

Voting Schedule and Process

The remote e-voting facility will be available to members whose names appear in the Register of Members or Register of Beneficial Owners as on the cut-off date of May 21, 2026. The e-voting period commences at 09:00 A.M. on Sunday, May 24, 2026, and ends at 5:00 P.M. IST on Monday, June 22, 2026. The results of the e-voting will be announced on or before Wednesday, June 24, 2026.

The company has engaged the services of Central Depository Services (India) Limited to provide the e-voting facility. Mr. Hemant Shetye has been appointed as the Scrutinizer to conduct the postal ballot process in a fair and transparent manner. If approved, the resolutions will be deemed to have been passed on the last date of remote e-voting, i.e., June 22, 2026.

Details of Appointments

The following table summarizes the director appointments proposed in the postal ballot notice:

Name	DIN	Designation	Tenure
Mr. Umesh Narpatchand Sanghvi	00467579	Managing Director	5 years effective from March 16, 2026
Mrs. Sapna Umesh Sanghvi	03551520	Non-Executive Director	Regularization of Additional Director
Mr. Gopal Ajay Malpani	02043728	Independent Director	5 years from March 16, 2026 to March 15, 2031
Mrs. Pooja Navnit Maheshwari	07499106	Independent Director	5 years from March 16, 2026 to March 15, 2031

The explanatory statement accompanying the notice notes that Mr. Umesh Narpatchand Sanghvi will serve as Managing Director without any remuneration initially, though the Board retains the authority to revise this subject to compliance and approvals. The Board recommends all resolutions for approval by the members.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
0.0%	0.0%	+4.95%	+18.95%	+39.42%	+676.67%

SRM Energy Limited has filed its audited standalone financial results for the quarter and year ended March 31, 2026. The company reported a net profit of Rs 44.25 lakh for the fiscal year, a significant turnaround from the net loss of Rs 37.58 lakh recorded in the previous year. The results were approved by the Board of Directors on May 20, 2026, in compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial Performance

For the quarter ended March 31, 2026, the company reported a net profit of Rs 205.79 lakh, compared to a net loss of Rs 8.70 lakh in the same period last year. Total income for the quarter stood at Rs 223.35 lakh, driven entirely by other income as revenue from operations remained nil. For the full year, total income was Rs 227.12 lakh, while total expenses were Rs 173.99 lakh.

Metric	Year Ended Mar 31, 2026	Year Ended Mar 31, 2025
Net Profit / (Loss)	44.25	(37.58)
Total Income	227.12	-
Total Expenses	173.99	37.58
Earnings Per Share (Basic)	0.49	(0.41)

Audit Qualifications and Going Concern

Rajat Associates, Chartered Accountants, issued a qualified opinion on the financial statements. The auditors highlighted that the company has a negative net worth of Rs 366.47 lakh as of March 31, 2026, and its current liabilities exceed its current assets. Consequently, there is material uncertainty regarding the company's ability to continue as a going concern without financial support from the new management.

The auditors also noted the disposal of a wholly-owned subsidiary during the year, resulting in the recognition of a substantial loss of Rs 131 lakh. The company had not previously assessed impairment on this investment under Ind AS 36 and Ind AS 109.

Operational Status

The company stated that it has no active business operations and continues to incur cash losses. However, based on assurances of financial support from the new management following a change in control, the financial statements have been prepared on a going concern basis. The board also approved the notice for a postal ballot to determine shareholder eligibility for voting.