Tahmar Enterprises has scheduled its 35th annual general meeting for Tuesday, September 29, 2026. The meeting will be held through video conferencing or other audio-visual means.

The board previously approved the date and agenda during its session on September 2, 2026, at its corporate office in Panjim, Goa. The notice outlines three key items for shareholder consideration: adoption of financial statements, director re-appointment, and approval for material related-party transactions.

Key Agenda Items

The ordinary business includes the adoption of the audited standalone financial statements for the fiscal year ended March 31, 2026. Shareholders will also vote on the re-appointment of Mr. Rajshekhar Cadakketh Rajasekhar Nair (DIN: 01278041), who is retiring by rotation under Section 152(6) of the Companies Act, 2013.

The special business item seeks approval for material related-party transactions valued up to ₹1,000 crore. This limit covers transactions with specific entities and individuals over a 12-month period from October 1, 2026, to September 30, 2027.

Related-Party Transaction Details

The proposed transactions involve sales, purchases, services, and lending with the following related parties:

The resolution also permits lending to these related parties up to ₹500 crore for a single transaction or series of transactions within the specified period. These limits are subject to the threshold of 10% of the company's annual consolidated turnover as per the last audited financial statements.

Governance and Compliance

The board reviewed the secretarial audit report and auditor performance evaluation for FY26. Mr. Brajesh Gupta, proprietor of M/s Brajesh Gupta & Co, was appointed as the scrutinizer for the e-voting process. The managing director or company secretary is authorized to issue the AGM notice and oversee e-voting procedures.

Shareholders on record as of September 22, 2026, are eligible to vote. Remote e-voting begins on September 26, 2026, at 9:00 am and ends on September 28, 2026, at 5:00 pm. The register of members and transfer books will remain closed from September 25, 2026, to September 29, 2026.

Tahmar Enterprises reported a full-year loss of ₹559.65 lakh for FY26, widening significantly from the ₹260.90 lakh loss recorded in FY25. The company’s manufacturing unit in Kolhapur remained idle throughout the financial year due to environmental compliance upgrades, resulting in zero production days.

Financial Performance

Total revenue fell to ₹797.92 lakh from ₹1,009.81 lakh in the previous year. Revenue from operations dropped to ₹229.59 lakh, while other income contributed ₹568.33 lakh. Total expenses rose to ₹1,357.16 lakh, driven by fixed establishment costs, statutory supervision charges, and finance costs incurred despite the lack of operational activity.

What the Numbers Show

The divergence between total revenue and operating revenue highlights the company's current dependency on non-operational income streams. Other income constituted approximately 71% of total revenue, masking the complete absence of trading receipts from its core distillery business. This structural shift underscores that the reported loss is purely a function of fixed cost absorption without corresponding volume, rather than margin compression on active sales.

Operational and Regulatory Updates

The company focused on resolving regulatory hurdles during the shutdown. It secured a fresh Consent to Operate from the Maharashtra Pollution Control Board in January 2026, valid until 2029. Distillation and denatured spirit licences were renewed for two years in May 2026. Post-year-end, the government approved the transfer of distillation licences into the company’s name in July 2026 and sanctioned a potable liquor licence in August 2026.

Balance Sheet Signals

Liquidity tightened considerably, with cash and cash equivalents falling to ₹13.37 lakh from ₹54.24 lakh in FY25. The company’s cash credit facility with The Kolhapur District Central Co-operative Bank Limited was classified as a non-performing asset with effect from March 31, 2026. The company received a demand notice under Section 13(2) of the SARFAESI Act in July 2026 and is pursuing asset monetisation to repay dues.