Starbeam Ventures Limited passed all four resolutions at its 42nd Annual General Meeting held on September 26, 2026. The meeting, conducted via video conferencing, saw no participation from promoters or institutional investors in the voting process.

The company, formerly known as Bluegod Entertainment Limited, reported that 17,388 shareholders were on the record date of September 19, 2026. However, only 36 public shareholders attended the meeting through video conferencing. The total number of votes polled across all resolutions remained consistent at 1,831,048, representing just 0.28% of the outstanding shares held by public non-institutions.

Resolution outcomes

All ordinary and special resolutions were approved with requisite majorities. The adoption of audited financial statements for FY26 received near-unanimous support, with only 10 votes cast against out of 1,831,048 polled. Director appointments saw slightly higher dissent but still passed comfortably.

Board composition changes

The AGM ratified the appointment of three directors. Afsana Mirose Kherani was re-appointed as a director retiring by rotation. Raman Raheja was confirmed as a Non-Executive Non-Independent Director, having previously served as an Additional Director since June 16, 2026. Ritu Tiwari was appointed as a Non-Executive Independent Director for a five-year term ending June 15, 2031.

What the Numbers Show

A stark divergence exists between shareholder count and voting power. While 17,388 shareholders were eligible to vote, only 55 members cast votes through remote e-voting. This indicates an extremely low participation rate of approximately 0.31% of the total shareholder base. Furthermore, the voting turnout of 1,831,048 shares represents a negligible fraction of the 653,631,132 shares held by public non-institutions, suggesting that the outcome was determined by a very small subset of retail investors, with no influence from institutional or promoter holdings.

Starbeam Ventures Limited reported a net profit of ₹184.96 lakh for the financial year ended March 31, 2026, compared to ₹182.14 lakh in the previous year. The company's total income for the year stood at ₹1,200.71 lakh, while total expenses were ₹882.54 lakh. The Board of Directors approved the audited standalone financial results for the quarter and year ended March 31, 2026, on July 04, 2026.

The statutory auditors, SDPM & Co., issued a qualified opinion on the financial results. The auditors noted that the provisions of Section 45-IA of the Reserve Bank of India Act, 1934, are applicable to the company because its financial assets constitute more than 50 percent of total assets and income from financial assets constitutes more than 50 percent of gross income. However, the company has not obtained the required registration under these provisions.

Further qualifications highlighted that the company accepted loans from individuals in contravention of Section 73 of the Companies Act, 2013. The auditors also stated that the management did not provide balance confirmations or independent documentary evidence for outstanding unsecured loans and advances. Consequently, the auditors were unable to determine the impact of this matter on the financial statements.

The report also flagged outstanding trade receivables for more than six months, noting that sufficient appropriate audit evidence regarding their recoverability could not be obtained and that management had not made adequate provisions against them. Despite these qualifications, the management stated that the statutory non-compliance and lack of documentary evidence do not impact the financial statements and expressed belief that the trade receivables are recoverable.

Financial Performance

The company reported a basic earnings per share (EPS) of ₹0.03 for FY26, down from ₹2.81 in the previous year. For the quarter ended March 31, 2026, the company reported a net loss of ₹172.43 lakh. During the quarter, the company raised ₹30.36 crore through a rights issue, of which ₹29.50 crore was utilized to give loans and advances to Laddu Gopal Ventures Private Limited.

Key Financial Metrics (FY26)