Transglobe Foods has scheduled its Annual General Meeting (AGM) for Tuesday, September 29, 2026, at 11:00 am. The meeting will be conducted via Video Conferencing or Other Audio-Visual Means.

The primary objective is to seek shareholder approval for the appointment of Ms. Anju Vijay Pandit as an Additional Non-Executive Independent Director. The board initially approved her appointment on September 1, 2026, subject to this ratification.

Key Agenda Items

The notice convening the AGM outlines three main resolutions:

• Adoption of Financials: Shareholders will receive, consider, and adopt the audited standalone financial statements for the financial year ended March 31, 2026, along with the Board’s and Auditors’ reports.
• Re-appointment of Managing Director: Mr. Prabhakar Rameshbhai Khakhar retires by rotation and has offered himself for re-appointment as a director liable to retire by rotation.
• Appointment of Independent Director: A special resolution will be passed to appoint Ms. Anju Vijay Pandit (DIN: 11904614) as a Non-Executive Independent Director for a term of five years, effective from September 1, 2026.

Ms. Pandit brings over 11 years of industry experience, specializing in Lotus Notes development and enterprise application support. She holds an ITIL v4 certification.

Financial Performance FY26

The company reported a net loss of ₹5.00 lakh for the financial year ended March 31, 2026, compared to a loss of ₹3.19 lakh in the previous year. Gross income stood at ₹18.16 lakh, down slightly from ₹18.20 lakh in FY25. Total expenses increased to ₹23.16 lakh from ₹21.39 lakh.

The auditor’s report highlights a material uncertainty regarding the company’s ability to continue as a going concern, citing accumulated losses of ₹84.87 lakh and negative net worth of ₹(42.74) lakh. However, management cites lender confirmations and promoter support as mitigating factors.

E-Voting and Meeting Logistics

The company has engaged National Securities Depository Limited (NSDL) to facilitate remote e-voting. The voting window opens on Friday, September 25, 2026, at 9:00 am and closes on Monday, September 28, 2026, at 5:00 pm.

Key dates for shareholders are:

M/s. Jaymin Modi & Co., Practicing Company Secretaries, have been appointed as the Scrutinizer for the e-voting process. Participation in the VC/OAVM mode will count toward quorum under Section 103 of the Companies Act, 2013.

Transglobe Foods reported a net loss of ₹6.10 lakhs for the first quarter of FY27 (Q1FY27), marking a deterioration from the ₹5.23 lakh loss recorded in the corresponding period of the previous fiscal year. The Board of Directors approved the unaudited standalone financial results on August 12, 2026. The results highlight persistent operational challenges, with total expenses exceeding income, and have triggered a material uncertainty warning from the company’s statutory auditors regarding its ability to continue as a going concern.

The financial performance for the quarter was driven by zero revenue from operations, while expenses remained elevated. Total expenses for the quarter amounted to ₹6.10 lakhs, comprising employee benefits expense of ₹2.00 lakhs, finance costs of ₹1.13 lakhs, and other expenses of ₹2.97 lakhs. In contrast, the quarter ended March 31, 2026, had seen revenue of ₹17.91 lakhs, resulting in a profit before tax of ₹11.73 lakhs. The absence of revenue in Q1FY27 directly contributed to the loss position.

Financial Performance Overview

The following table outlines the key financial metrics for Transglobe Foods Limited for the quarter ended June 30, 2026, compared to prior periods:

The company’s earnings per share (EPS) stood at a basic and diluted loss of ₹4.21 per equity share, down from a loss of ₹3.61 per share in Q1FY26. For the full year ended March 31, 2026, the company reported a net loss of ₹5.00 lakhs against total income of ₹18.16 lakhs.

Auditor’s Emphasis of Matter

Bilimoria Mehta & Co., the statutory auditors, issued a review report pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The auditors included an emphasis of matter paragraph drawing attention to Note 6 of the financial statements. They noted that as of June 30, 2026, the company had accumulated losses amounting to ₹90.98 lakhs and a negative net worth of ₹(42.74) lakhs.

These conditions indicate a material uncertainty that may cast significant doubt on the company’s ability to continue as a going concern. However, the management has represented that certain mitigating factors support the use of the going concern basis. These include confirmations from lenders of unsecured loans that they do not intend to demand repayment until March 31, 2027, a comfort letter from the promoter expressing continued financial support, and projected financial statements indicating expected improvement in operating results.

What the Numbers Show

The divergence between Q4FY26 and Q1FY27 highlights a complete cessation of operational revenue in the current quarter. While the company generated ₹17.91 lakhs in revenue in the preceding quarter, Q1FY27 recorded nil revenue from operations. Despite this drop in top-line activity, fixed costs such as employee benefits and finance charges persisted at levels similar to or higher than previous quarters. This structural mismatch between zero revenue and sustained overheads underscores the severity of the operating downturn. The reliance on promoter support and lender forbearance to maintain going concern status signals that the company’s near-term viability is contingent on external financial backing rather than internal cash generation.