Veer Global Infraconstruction has issued an addendum to the notice of its 15th Annual General Meeting (AGM), scheduled for September 19, 2026. The company added a new agenda item seeking shareholder approval for the appointment of a Secretarial Auditor.

The addendum, dated September 11, 2026, inserts Item No. 4 into the original AGM notice. This new item proposes the appointment of Mr. Bhanwar Lal Harawat, Practising Company Secretaries, as the Secretarial Auditor of the company. The appointment is subject to member approval and will cover a tenure of four consecutive years.

Appointment Details

Mr. Harawat holds a valid Peer Review Certificate bearing No. 2297/2022. The Board of Directors approved the appointment based on the recommendation of the Audit Committee. The remuneration for the Secretarial Auditor will be mutually agreed upon between the company and the auditor.

The proposed resolution is an Ordinary Resolution under Section 204 of the Companies Act, 2013, read with Regulation 24A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The tenure commences from the conclusion of the 15th AGM until the conclusion of the 19th AGM.

Agenda Renumbering

With the insertion of the new Item No. 4, subsequent agenda items in the original notice have been renumbered. The existing items previously numbered 4 through 8 are now designated as Items 5 through 9, respectively.

The company confirmed that none of its Directors, Key Managerial Personnel, or their relatives have any financial interest in the proposed resolution. The addendum is available on the company’s website and the BSE Limited portal. Members are advised to read the original notice alongside this addendum before exercising voting rights.

Veer Global Infraconstruction Limited reported a net profit of ₹161.45 crore for FY26, a decline from ₹180.81 crore in the previous year. Revenue from operations fell to ₹690.32 crore from ₹1,162.95 crore in FY25.

The company has scheduled its 15th Annual General Meeting for September 19, 2026, seeking shareholder approval for significant capital raising measures. The Board proposes to raise up to ₹100 crore through a combination of a rights issue and private placement of securities.

Financial Performance

The decline in top-line growth was accompanied by a reduction in profitability metrics. Earnings per share (EPS) decreased to ₹1.00 from ₹1.12 in FY25. While total income dropped to ₹736.57 crore, other income increased to ₹46.25 crore from ₹18.55 crore. Finance costs rose significantly to ₹236.50 crore from ₹165.16 crore, impacting the bottom line despite lower cost of material consumed at ₹427.30 crore versus ₹920.73 crore in the prior year.

Capital Raising Strategy

In addition to the rights issue of up to ₹50 crore for expansion and working capital, the company is seeking an enabling resolution for the issue of equity shares through private placement. The Board proposes to raise funds up to ₹50 crore by issuing equity shares, convertible debentures, non-convertible debentures (NCDs), or preference shares. Proceeds are earmarked for growth objectives, debt repayment, capital expenditure, and general corporate purposes.

Governance and Remuneration

The AGM agenda includes the reappointment of Mr. Manvendra Shivshyam Tiwari as a director by rotation. Shareholders will also vote on the continuation of Shri Subodh Jain’s tenure as an Independent Director for a second term of five years, effective June 21, 2026. Remuneration for managerial personnel is capped at ₹50 lakhs per annum for FY27 onwards.

What the Numbers Show

The simultaneous pursuit of a rights issue and private placement indicates a structured approach to balance existing shareholder dilution with targeted investor fundraising. By splitting the ₹100 crore requirement equally between these two instruments, the company retains operational flexibility while adhering to statutory pre-emptive rights for current investors. The rise in finance costs to ₹236.50 crore, nearly offsetting the pre-tax profit of ₹231.57 crore, highlights the sensitivity of net profit to interest rate environments and debt servicing obligations.