Velan Hotels has scheduled its 36th Annual General Meeting for September 30, 2026. The board of directors fixed the date during a meeting held on August 25, 2026.

The event will take place at 11:45 am through Video Conferencing or Other Audio Visual Means. This format complies with relevant circulars issued by the Ministry of Corporate Affairs and the Securities and Exchange Board of India.

Meeting Details

The company will dispatch the Annual Report for the financial year ended March 31, 2026, to all registered members. The report includes the Notice of AGM, Standalone Financial Statements, Board's Report, and Auditors' Report.

Shareholders can cast votes via remote e-voting or e-voting at the AGM. Details on registering email addresses and attending the virtual meeting are outlined in the Notice of AGM.

Board Meeting Outcome

The board meeting commenced at 6:00 pm and concluded at 7:15 pm on August 25, 2026. Gautham Muthukumara Ramalingam, Executive Director, signed the intimation letter addressed to BSE Limited.

Velan Hotels has fully repaid its outstanding loan to Rare Asset Reconstruction Limited (ARC), obtaining a no-due certificate during the first quarter of FY26. The company reported a standalone net loss of ₹71.45 lakh for the quarter ended June 30, 2026, driven by operating expenses despite zero revenue generation. This marks a significant step in its asset liquidation process to settle long-standing liabilities.

The Board of Directors approved the unaudited financial results on August 12, 2026. Statutory auditor Krishaan & Co. issued a limited review report pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The auditor highlighted that the company’s ability to continue as a going concern depends entirely on the realizable value from the sale of assets, as all revenue-generating operations have been suspended since March 24, 2020.

Financial Performance

Velan Hotels recorded no income from operations or other sources in Q1FY26. Total expenses amounted to ₹71.45 lakh, primarily comprising employee benefits, depreciation, and power and fuel costs. The company incurred a pre-tax loss of ₹71.45 lakh, resulting in a basic earnings per share (EPS) deficit of ₹0.22.

Debt Settlement and Liabilities

The company had previously opted for a One-Time Settlement with Rare Asset Reconstruction Limited, receiving final approval in March 2021. By March 31, 2026, Velan Hotels had remitted ₹100.76 crore to the ARC from asset disposals. During Q1FY26, an additional repayment of ₹15.19 crore was made from advances received on the sale of its Tirupur hotel, bringing the total debt to full settlement.

Regarding statutory dues, the company paid ₹4.76 lakh toward Provident Fund and ₹2.32 lakh toward interest on Tax Deducted at Source during the quarter. Cumulatively, it has settled earlier year dues of ₹27.95 lakh for Provident Fund, Sales Tax, and TDS, along with ₹22.02 lakh for Goods and Service Tax. All known statutory liabilities are now paid, except for those subject to pending disputes before statutory authorities.

What the Numbers Show

The elimination of finance costs in Q1FY26 — which stood at ₹675.03 lakh in the preceding quarter — significantly reduced the quarterly loss burden. However, fixed operational costs such as depreciation (₹13.41 lakh) and power/fuel expenses (₹35.67 lakh) continue to erode reserves. With no revenue inflow since March 2020, the company’s financial health remains contingent on the pace and value of future asset sales.