Super Crop Safe has scheduled its 39th Annual General Meeting for September 30, 2026. The company will not declare a dividend for the financial year ended March 31, 2026. The cut-off date for determining shareholder eligibility is September 23, 2026.

The meeting will be held via video conferencing at 4:00 pm. Shareholders holding shares as of the September 23, 2026 cut-off date can vote electronically. Remote e-voting opens on September 27, 2026, and closes on September 29, 2026.

Book Closure

The Register of Members and Share Transfer Books will remain closed from September 24, 2026, to September 30, 2026 (both days inclusive). This closure facilitates the determination of shareholders eligible to vote at the AGM.

Board Re-appointments

Members will vote to re-appoint two directors retiring by rotation:

Nishant Patel also serves as a member of the Audit Committee.

Related Party Transactions

The board seeks ordinary resolution approval for related-party transactions under Section 188 of the Companies Act, 2013. Proposed limits for FY27 include:

• Voltrix Inc: ₹2,000 lakh for purchases and sales. Controlled by Whole-Time Director Narendrasinh M Zala.
• Super Industries: ₹1,000 lakh each for purchases and sales, plus ₹8 lakh for rent. Controlled by Bhogilal A Patel, son of a promoter.
• Pioneer Pesticides Industries: ₹1,000 lakh each for purchases and sales. Controlled by Director Satish I Patel.
• Su – Aarogya Wellness: ₹1,000 lakh each for purchases and sales. Controlled by Managing Director Nishant Patel.

Related parties are barred from voting on this resolution. Other transactions include salaries for Bhogilal A Patel (₹15 lakh) and Tushar N Patel (₹15 lakh), and rent from Nitinkumar & Sons HUF (₹15 lakh).

Voting Process

Shareholders can vote through NSDL IDeAS, CDSL Easi, or the InstaVote platform. Corporate shareholders must submit board resolutions authorizing their representatives.

Super Crop Safe reported a 17.05% year-on-year increase in revenue from operations for FY26, reaching ₹531.3 crore, driven by higher sales volumes. However, the company’s profitability contracted as cost pressures and finance expenses weighed on margins.

The Ahmedabad-based agrochemical manufacturer posted a profit after tax (PAT) of ₹20.0 crore for the fiscal year ended March 31, 2026, down 7.47% from ₹21.6 crore in FY25. The decline in bottom-line earnings occurred despite top-line growth, signaling operational headwinds that management attributed to market dynamics and input costs.

Financial Performance

Revenue from operations grew from ₹453.9 crore in FY25 to ₹531.3 crore in FY26. This growth was accompanied by a sharper rise in operating costs, leading to a contraction in earnings before interest, tax, depreciation, and amortization (EBITDA).

EBITDA fell by 9.53% to ₹40.0 crore, primarily due to a 23.22% increase in the cost of materials consumed, which rose to ₹430.6 crore from ₹349.4 crore. While employee benefits expense grew moderately by 15.41% to ₹31.8 crore, other expenses declined by 10.75% to ₹29.9 crore, offering some offset.

Finance costs decreased by 15.27% to ₹15.4 crore, helping stabilize profit before tax (PBT), which dipped marginally by 2.91% to ₹19.9 crore. The company benefited from a deferred tax credit of ₹1.5 crore, compared to ₹11.7 crore in the previous year, resulting in the final PAT figure.

What the Numbers Show

A critical divergence exists between revenue growth and margin performance. While sales expanded by over 17%, EBITDA contracted by nearly 10%. This indicates that the company did not retain the incremental revenue as operating profit, likely due to rising raw material inflation or pricing pressure. Additionally, other income rose 54.11% to ₹0.6 crore, but this constituted less than 0.1% of total income, meaning the core operational decline drove the overall profit drop rather than non-operating factors.

Auditor Observations and Risks

Statutory auditors Parimal S. Shah & Co. highlighted significant concerns regarding the company’s liquidity and compliance. The audit report notes a material uncertainty related to going concern due to delayed payments of statutory dues, including GST, provident fund, and income tax, totaling ₹412.3 lakh as of March 31, 2026.

Furthermore, auditors observed that the company accepted deposits deemed to be in contravention of RBI directives and Companies Act provisions, with outstanding balances of ₹102.7 lakh from Voltrix Inc and ₹189.4 lakh from Wherrelzit Solutions Pvt Ltd. These regulatory and liquidity issues pose potential risks to future operations.

Corporate Actions

The board did not recommend any dividend for FY26, opting to plough back profits to strengthen the capital base. The 39th Annual General Meeting is scheduled for September 30, 2026, where shareholders will vote on the re-appointment of directors and approval of related-party transactions.