Tulasee Bio-Ethanol Limited has published the notice for its 38th Annual General Meeting (AGM) in Financial Express and Mumbai Lakshdeep. The publication confirms the details of the meeting scheduled for Thursday, September 10, 2026, at 12:30 pm via Video Conferencing or Other Audio-Visual Means (VC/OAVM). The deemed venue remains the registered office in Raigad, Maharashtra.

Financial Performance

The company reported a pre-tax loss of ₹17.94 lakh for the fiscal year ended March 31, 2026 (FY26), widening from a loss of ₹12.96 lakh in FY25. Tulasee Bio-Ethanol remains inactive in its business operations, with no revenue or operational activity disclosed during the period. Basic earnings per equity share stood at a loss of ₹0.30, compared to a loss of ₹0.22 per share in the previous year.

The financial results reflect the company’s dormant status. There were no current or deferred tax expenses recorded for either year. No dividend was declared or paid during FY26, nor was any final dividend proposed. The Board of Directors confirmed that proper accounting standards were followed and that the financial statements give a true and fair view of the company’s state of affairs.

AGM Agenda

Shareholders will consider and adopt the financial statements for FY26, along with the Directors’ and Auditors’ Reports. Ms. Kritika Nagpal Lalit, a Non-Executive Women Director, retires by rotation and offers herself for reappointment. She attended all four board meetings held during FY26.

Under special business, the board recommends appointing M/s. Sandeep P Parekh & Co as the Secretarial Auditor for five consecutive financial years, from FY27 to FY31. The proposed fee for the first year is ₹50,000, excluding GST and out-of-pocket expenses. Remuneration for subsequent years will be determined by the board in consultation with the auditor.

Voting and Logistics

Remote e-voting will commence at 9:00 am on Monday, September 7, 2026, and end at 5:00 pm on Wednesday, September 9, 2026. The register of members and share transfer book will remain closed from September 3 to September 12, 2026. M/s Tariq Badgujar & Co has been appointed as the scrutinizer for the voting process.

Corporate Governance and Compliance

The company did not appoint an Internal Auditor under Section 138 of the Companies Act, 2013, citing insufficient turnover and non-operation in business activities. It also stated that provisions related to Corporate Social Responsibility, Cost Records, and Maternity Benefits are not applicable due to employee strength and nature of establishment.

Statutory Auditors M/s. A. C. Jhaveri & Associates confirmed compliance with applicable laws and noted no material discrepancies in fixed assets or inventory. The secretarial audit report highlighted that while the company complied with most regulations, it had not appointed an internal auditor as required under Section 138.

Tulasee Bio-Ethanol Ltd reported a widened standalone net loss of ₹6.42 lakh for the quarter ended June 30, 2026 (Q1FY27), compared to a loss of ₹3.65 lakh in the preceding quarter. The company recorded no revenue from operations and no other income during the period, meaning its financial performance was defined entirely by expenditure. Total expenses rose to ₹6.42 lakh, up from ₹3.65 lakh in the prior quarter, driven exclusively by an increase in other expenses. This deterioration highlights ongoing operational challenges as the company continues to incur costs without generating sales.

The Board of Directors approved the unaudited quarterly financial results at a meeting held on August 7, 2026, pursuant to Regulation 30 and Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The results were reviewed by the Audit Committee and subsequently by the statutory auditors, A. C. Jhaveri & Associates, who issued a limited review report confirming that the statements comply with Ind AS 34 and SEBI Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016. Managing Director Kapil Nagpal signed off on the disclosure, which was submitted to the Bombay Stock Exchange.

Financial Performance Breakdown

The absence of revenue combined with rising operational costs resulted in a loss before tax of ₹6.42 lakh for Q1FY27. For the full year ended March 31, 2026, the company posted a net loss of ₹17.94 lakh, compared to ₹12.96 lakh in FY25. Earnings per share (basic) stood at a loss of ₹0.11 per equity share for the current quarter, worsening from a loss of ₹0.06 per share in the preceding quarter.

Balance Sheet and Cash Flow Signals

As of June 30, 2026, Tulasee Bio-Ethanol’s total assets stood at ₹842.79 lakh, marginally higher than ₹840.94 lakh at the end of FY26. Non-current assets remained stable at ₹485.92 lakh, primarily comprising property, plant, and equipment valued at ₹467.18 lakh. Current assets increased slightly to ₹356.86 lakh, driven by a rise in loans given (current) from ₹239.60 lakh to ₹241.41 lakh. Cash and cash equivalents decreased marginally to ₹0.75 lakh from ₹0.72 lakh.

On the liabilities side, non-current borrowings increased significantly from ₹738.46 lakh to ₹764.81 lakh, indicating continued reliance on debt financing. Total equity declined to ₹45.46 lakh from ₹69.80 lakh, reflecting the accumulation of losses. The cash flow statement for the year ended June 30, 2026, showed a net cash outflow from operating activities of ₹12,458, while financing activities provided a net inflow of ₹2,500 through equity contributions. The closing cash balance stood at ₹75,488, down from an opening balance of ₹85,446.