Unisem Agritech Limited has shifted its banking facilities from Federal Bank to Karnataka Bank for an aggregate amount of ₹21.69 crore to strengthen its banking arrangements and improve operational efficiency. The transition involves the takeover of existing credit facilities and is expected to facilitate efficient management of financing and working capital requirements without any adverse impact on business operations.

The Board of Directors approved the proposal for shifting banking facilities on May 25, 2026. Pursuant to this approval, the company executed the requisite loan and security documents with Karnataka Bank on June 30, 2026. The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The facilities sanctioned by Karnataka Bank include multiple term loans and an overdraft facility. The company has secured these loans by creating a charge over movable assets, current assets, and collateral security as per the sanction terms and loan documentation.

The company cited better banking services, enhanced operational efficiency, improved banking support, and other commercial considerations as reasons for the change. Unisem Agritech stated that the new arrangement is expected to strengthen its banking relationship.

Unisem Agritech Limited filed revised annual financial results for the financial year ended March 31, 2026, following an observation by BSE Limited. The exchange noted that the company had not uploaded the Statement on Impact of Audit Qualifications along with the initial results. The company confirmed that there is no change in the financial figures approved by the Board, which reported a 23.9% increase in net profit to ₹529.65 lakh from ₹427.41 lakh in FY25. Revenue from operations rose to ₹8,103.38 lakh from ₹6,907.75 lakh in the previous year.

Financial Performance

The company’s total income for FY26 stood at ₹8,107.33 lakh, up from ₹6,907.75 lakh in FY25. Profit before tax for the year was ₹711.25 lakh, compared to ₹571.62 lakh in the previous year. Basic earnings per share increased to ₹5.89 from ₹5.32. The Board of Directors approved the audited financial statements during its meeting held on May 25, 2026.

Auditor's Report and Compliance

Statutory Auditors M/s SKSVM & Co., Chartered Accountants, issued a Qualified Opinion Audit Report. The qualification pertains to the non-provisioning or non-recognition of interest liability on delayed payments to Micro and Small Enterprises under the MSME Development Act, 2006. The management stated that based on contractual arrangements, it believed no material additional liability was required to be recognized, but it is undertaking a detailed review of vendor-wise balances to determine the precise financial impact.

The auditors noted that the accounting software used by the company did not have an audit trail (edit log) facility, resulting in non-compliance with Rule 11(g) of the Companies (Audit and Auditors) Rules, 2014. Consequently, the auditors could not comment on the operation of this feature or any tampering during the year.

Board Appointments and AGM

The Board appointed M/s Neelakari Mahindrakar Associates, Chartered Accountant Firm, as Internal Auditor for FY 2026-27. Mr. M V Bhat, Practicing Company Secretary, was appointed as Secretarial Auditor for a period of five years subject to shareholder approval. The Board also extended the services of Mr. Vijay Malgatte, VP – Business Strategy, beyond retirement age for a further period of five years.

The Annual General Meeting is scheduled for Friday, September 11, 2026, through Video Conferencing. Remote e-voting will be open from September 8, 2026, to September 10, 2026, with September 4, 2026, fixed as the record date for determining entitlement.