Turner Industries Limited received approval from the Registrar of Companies, Chennai, to extend the deadline for its 32nd Annual General Meeting. The new deadline is December 31, 2026, replacing the original due date of September 30, 2026.

The company had filed an application via e-Form GNL-1 seeking this extension. The ROC granted a three-month extension under Section 96(1) of the Companies Act, 2013, citing special reasons stated by the company.

Regulatory filing details

Turner Industries informed BSE Limited of the approval in a communication dated September 25, 2026. The notice was signed by Lalit Samdaria, Director of Turner Industries. The ROC order was dated September 24, 2026.

Compliance advisory

In its order, the Registrar of Companies advised the company to be careful in future compliance with the provisions of the Companies Act, 2013. The extension was granted for the financial year ended March 31, 2026.

Turner Industries Limited reported a net loss of ₹2.06 lakh for the financial year ended March 31, 2026, narrowing from the ₹2.64 lakh loss recorded in the previous year. The company continued to report zero revenue from operations for the second consecutive year. The Board of Directors approved the audited financial results for the fourth quarter and the full year on May 28, 2026.

The standalone financial results indicate that total expenses for the year stood at ₹2.06 lakh, a decrease from ₹2.64 lakh in the prior year. This reduction in expenses contributed to the narrowing of the net loss. The company’s earnings per share (EPS) for the year ended March 31, 2026, was reported at a loss of ₹0.05 on a basic and diluted basis, an improvement from the loss of ₹0.07 per share in the previous year.

Financial Performance

Balance Sheet and Liabilities

As of March 31, 2026, the company’s total assets were valued at ₹50.67 lakh, a marginal decrease from ₹50.80 lakh in the previous year. The balance sheet reflects that the company is primarily funded by borrowings and equity. Borrowings increased to ₹39.73 lakh from ₹37.80 lakh in the prior year, consisting entirely of loans from directors.

The other equity, which includes retained earnings, stood at a negative ₹390.67 lakh, widening from the negative ₹388.92 lakh reported in the previous year. Cash and cash equivalents decreased to ₹0.68 lakh from ₹0.81 lakh at the end of the previous fiscal year.

Auditor and Regulatory Compliance

The financial results were subjected to a limited review by the statutory auditors, A. John Moris & Co., Chartered Accountants. The audit report confirms that the results give a true and fair view in conformity with the Indian Accounting Standards (Ind AS) and other recognized accounting policies. The company stated that it has only one reportable segment, Property Developers, in accordance with Ind AS 108.

The debt-equity ratio for the year ended March 31, 2026, stood at 3.73, compared to 3.05 in the previous year, while the return on capital employed was (0.19)% versus (0.21)% in FY25.