Varun Mercantile has scheduled its 41st Annual General Meeting (AGM) for September 30, 2026, to transact ordinary and special business items, including the adoption of audited financial statements for the fiscal year ended March 31, 2026.

The company reported a net profit of ₹12.47 lakh for FY26, a decline from ₹13.00 lakh in the previous year. Total income remained virtually flat at ₹37.85 lakh, compared to ₹37.86 lakh in FY25, while total expenses rose slightly to ₹15.84 lakh from ₹15.29 lakh.

Key Financial Highlights

The company’s net worth increased to ₹551.62 lakh as on March 31, 2026, up from ₹539.15 lakh in the prior year. The Board did not recommend any dividend for the year under review.

What the Numbers Show

Varun Mercantile’s revenue profile is heavily dependent on non-operating income. Interest income from bank fixed deposits constituted ₹37.85 lakh of the total ₹37.85 lakh income for FY26, indicating that the company’s profitability is derived entirely from investment returns rather than core trading operations. This structural reliance is further evidenced by the absence of revenue from operations in the profit and loss statement.

Governance and Appointments

Shareholders will vote on the re-appointment of Sanjay T. More as a Director, who retires by rotation. More, who has over 12 years of experience in banking and treasury, does not draw a remuneration from the company.

Additionally, the Board seeks approval for the re-appointment of Ms. Kirti B. Chaudhari as Manager for a five-year term effective September 2, 2026. Her proposed remuneration is set at ₹8.89 lakh per annum, inclusive of salary, perquisites, and allowances. Chaudhari brings over 12 years of experience in accounts and indirect taxation.

E-Voting Details

Remote e-voting will be open from 9:00 am on September 26, 2026, to 5:00 pm on September 29, 2026. The cut-off date for voting rights is September 23, 2026. KFin Technologies Limited serves as the e-voting agency.

Varun Mercantile has re-appointed Kirti B. Chaudhari as Manager for a five-year term effective September 2, 2026. The Board approved the decision on September 3, 2026, following recommendations from the Nomination and Remuneration Committee.

The appointment succeeds the expiration of Chaudhari’s previous term on September 1, 2026. The new tenure runs until September 1, 2031, subject to shareholder approval.

Appointment Details

Chaudhari brings over 12 years of experience in accounts and indirect taxation. She holds a commerce degree and is 35 years old.

The company disclosed the change under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Chaudhari is not debarred from holding the office by any regulatory authority.