Tricom Fruit Products reported a net loss of ₹13.99 lakh for the financial year ended March 31, 2026, a significant improvement from the ₹40.05 lakh loss recorded in the previous year. The company continues to operate under the Corporate Insolvency Resolution Process (CIRP), with its board powers suspended and management vested in the Resolution Professional.

Financial Performance

The loss reduction was driven by lower operational expenses during the insolvency process. Revenue from operations remained at nil, as the company's manufacturing facilities have been discontinued since April 2017. Interest income on fixed deposits contributed ₹8.94 lakh to other income, up from ₹3.10 lakh in FY25. However, finance costs rose to ₹4.22 lakh from ₹77,000 in the prior year, reflecting ongoing borrowing obligations.

Insolvency Progress

The Committee of Creditors (CoC) approved a resolution plan submitted by Mr. Vivek Kumar Ratakonda with 99.91% voting support. The plan has been filed with the National Company Law Tribunal (NCLT), Mumbai Bench, for final approval. No CoC member voted against the proposal. The company’s assets were previously sold by Edelweiss Asset Reconstruction Company Limited under the SARFAESI Act.

Balance Sheet Position

As of March 31, 2026, Tricom Fruit Products held total assets of ₹1.66 crore, comprising primarily fixed deposits (₹1.55 crore) and cash equivalents (₹2.04 lakh). Total liabilities stood at ₹8.57 crore, dominated by long-term borrowings of ₹65.65 crore and trade payables of ₹18.20 crore. The company has a negative net worth of ₹869.36 lakh.

What the Numbers Show

The narrowing net loss is largely attributable to reduced CIRP-related administrative costs rather than operational recovery. Legal and professional fees fell to ₹9.23 lakh from ₹18.89 lakh in FY25, while AGM expenses decreased to ₹3.25 lakh from ₹51,000. This divergence highlights that the financial improvement is procedural, driven by lower compliance spending during the insolvency period, rather than any revival of core business activities.

Tricom Fruit Products will hold its 32nd Annual General Meeting on Wednesday, September 30, 2026, at 11 am. The meeting will be conducted through Video Conferencing or Other Audio-Visual Means (VC/OAVM). Resolution Professional Prakash Dattatraya Naringrekar confirmed the schedule in a letter to the Bombay Stock Exchange dated September 5, 2026.

The company is currently undergoing the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016. The National Company Law Tribunal (NCLT) admitted the CIRP application on August 13, 2024. A resolution plan has been approved by the Committee of Creditors and is pending NCLT approval.

Meeting Agenda

The primary business for the AGM includes receiving, considering, and adopting the audited financial statements for FY26 ended March 31, 2026. This encompasses the Statement of Profit and Loss, Balance Sheet, and reports from the Board of Directors and Auditors.

Additionally, shareholders will vote on the reappointment of Mr. Chetan Kothari (DIN: 00050869), who retires by rotation. Mr. Kothari is eligible for reappointment. His appointment aligns with Section 152(6) of the Companies Act, 2013, though Board powers remain suspended during the CIRP.

E-Voting and Logistics

Remote e-voting will be facilitated by National Securities Depository Limited (NSDL). The voting window opens on Monday, September 27, 2026, at 9 am and closes on Wednesday, September 29, 2026, at 5 pm. The record date for voting eligibility is September 23, 2026.

The register of members and transfer books will remain closed from September 24, 2026, to September 30, 2026, inclusive. Shareholders holding shares in physical form are requested to convert them to dematerialized form to prevent fraudulent transactions and ease portfolio management.