Step Two Corporation Ltd has scheduled its 32nd Annual General Meeting for September 28, 2026. The company confirmed the book closure period runs from September 22 to September 28, 2026, for equity shares.

The meeting will convene at its registered office, Avani Signature, 91A/1 Park Street, Kolkata, at 10:00 am. Shareholders will transact ordinary business for the fiscal year ended March 31, 2026.

Agenda and Reappointments

The primary agenda includes receiving, considering, and adopting the audited balance sheet and profit and loss account for FY26. Key governance decisions involve:

• Reappointment of Anuj Agarwal as a director. He retires by rotation but is eligible and offers himself for reappointment.
• Reappointment of M/s. M.K.Kothari & Associates as statutory auditors until the conclusion of the 2029 AGM.

Voting and Logistics

The register of members and share transfer books remain closed from September 22, 2026, to September 28, 2026. Members entitled to attend may appoint proxies under Section 105 of the Companies Act, 2013. A single proxy can represent no more than fifty members or hold no more than ten percent of total share capital.

Remote e-voting is facilitated through National Securities Depository Limited (NSDL). The voting window opens on September 25, 2026, at 9:00 am and closes on September 27, 2026, at 5:00 pm. Eligibility is determined by the register of members as of the cut-off date, September 21, 2026. Mr. Navneet Jhunjhunwala, a practicing company secretary, serves as the scrutinizer.

Members who vote remotely cannot vote again at the physical meeting. Those attending in person without prior remote voting may use ballot papers. Results and the scrutinizer's report will be declared by the chairman immediately after voting concludes.

Contact Information

The AGM notice is available on www.steptwo.in and www.evoting.nsdl.com . For e-voting queries, shareholders may contact Mr. Anuj Agarwal at (033) 66289111 or email admin@steptwo.in .

Step Two Corporation reported a net loss of ₹19.18 crore for FY26, a significant expansion from the ₹23.9 lakh loss recorded in FY25. The deterioration was primarily driven by a sharp rise in operating expenses and an exceptional write-off related to a long-pending bank fraud claim.

Despite the top-line growth, the company's profitability remained under pressure as expenses surged at a faster pace than revenue. The Board of Directors did not recommend a dividend for the year.

Financial Performance

Revenue from operations nearly doubled, rising 94% to ₹32.05 crore in FY26 compared to ₹13.03 crore in FY25. This growth was largely attributable to trading activities, with sales of shares and securities contributing ₹25.44 crore to the total income. Interest income also increased to ₹30.7 lakh from ₹17.1 lakh in the previous year.

However, total expenses climbed to ₹54.71 crore from ₹13.81 crore. The increase was driven by purchases of stock-in-trade amounting to ₹55.55 crore, which were partially offset by a decrease in inventory valuation of ₹14.18 crore. Other expenses, including legal fees and listing charges, totaled ₹88.8 lakh, up from ₹21.1 lakh in FY25.

What the Numbers Show

The financial results reveal a divergence between revenue generation and cost management. While revenue grew significantly due to increased trading volume, the company incurred a net loss on the sale of investments amounting to ₹67.65 lakh. Furthermore, the exceptional write-off of ₹25.02 lakh—representing a disputed bank balance from a fraud case dating back to 1997-98—directly impacted the bottom line. The company’s capital to risk-weighted assets ratio (CRAR) declined to 1.13 from 1.36 in the prior year, reflecting the impact of the accumulated losses on its equity base.

Balance Sheet and Capital Structure

As of March 31, 2026, the company’s net worth stood at ₹84.25 crore, an increase from ₹56.22 crore in the previous year. This rise was primarily due to a preferential allotment of equity shares that raised capital during the year. Cash and cash equivalents decreased sharply to ₹19.3 lakh from ₹11.98 crore, indicating significant deployment of funds into loans and investments.

Loans advanced to private sector entities stood at ₹50.68 crore, marking a substantial increase from nil in the previous year. Investments in government securities were reduced to ₹84.4 lakh from ₹16.74 lakh, while exposure to capital markets through equity shares stood at ₹14.18 crore.

Corporate Governance

The Board held six meetings during the fiscal year. Director Anuj Agarwal retires by rotation and has offered himself for reappointment at the upcoming Annual General Meeting scheduled for September 28, 2026. The statutory auditors, M.K. Kothari & Associates, issued an unmodified opinion on the financial statements but highlighted the bank fraud write-off as an emphasis of matter.