Viram Suvarn Limited held its 15th Annual General Meeting (AGM) on September 28, 2026, via video conferencing. The meeting resulted in the reappointment of key leadership and auditors for upcoming terms.

The proceedings commenced at 4:00 pm and concluded at 4:24 pm. A total of 34 members attended the virtual meeting out of 41,251 shareholders recorded on the cut-off date of September 22, 2026. Remote e-voting was conducted from September 24 to September 27, 2026.

Key Resolutions Passed

Shareholders approved several critical appointments and financial statements during the session:

• Adoption of Financials: The audited standalone financial statements for FY26 were adopted, accompanied by unmodified auditor reports.
• Managing Director: Mahendra Ramniklal Shah was reappointed as Managing Director for a further period of five years, up to August 9, 2031.
• Independent Director: Sanjay Chunilal Vibhakar was reappointed as an Independent Director for a second term of five consecutive years, up to June 20, 2031.
• Statutory Auditors: M/s P H Shah and Co., Chartered Accountants, were appointed as Statutory Auditors for five consecutive years until the conclusion of the 20th AGM.
• Secretarial Auditors: M/s SS Lunkad and Associates were appointed as Secretarial Auditors for five years, from FY27 to FY31.
• Director Reappointment: Pinal Rakshitbhai Shah was reappointed as she retired by rotation.

Audit and Compliance Observations

The Statutory Auditor’s Report for FY26 contained an unmodified opinion with no qualifications or adverse remarks. The Secretarial Audit Report also lacked qualifications, except for one observation regarding a clerical error in an intimation filed with BSE concerning pre-clearance approval. The Board clarified this was a typing mistake with no intent to mislead.

What the Numbers Show

The low attendance of 34 members against a shareholder base of 41,251 highlights a significant reliance on remote e-voting mechanisms rather than live participation. With voting results to be declared within two working days, the final validation of these strategic appointments rests on the aggregate electronic votes cast during the September 24-27 window.

Viram Suvarn Limited posted a net profit of ₹757.70 lakh for FY26, a 122.3% increase from the previous year, driven by disciplined cost control and strategic inventory build-up.

Total revenue remained relatively stable at ₹2,502.11 lakh, while total expenses fell 31.3% to ₹1,508.87 lakh. The company also raised ₹3,025.63 lakh through a rights issue during the fiscal year.

Financial Performance

Revenue from operations stood at ₹2,459.78 lakh in FY26, compared to ₹2,648.20 lakh in FY25. Other income contributed ₹42.34 lakh, a new addition not present in the prior year.

The reduction in expenses was primarily due to favorable inventory adjustments. Purchase of stock-in-trade rose to ₹3,620.51 lakh from ₹2,225.57 lakh, offset by a significant credit from changes in inventories of ₹2,215.73 lakh, compared to ₹115.62 lakh in FY25.

What the Numbers Show

The divergence between rising stock purchases and flat revenue highlights a deliberate shift in working capital strategy. Inventory levels surged to ₹3,193.05 lakh from ₹977.32 lakh, causing the inventory turnover ratio to drop sharply from 2.29 to 0.67. This indicates slower movement of goods during the year, likely positioning the company for future sales rather than reflecting immediate demand weakness.

Capital Fortification

Viram Suvarn successfully completed a rights issue, raising ₹3,025.63 lakh by issuing 3,78,20,426 equity shares at ₹8 per share. This infusion increased paid-up capital to ₹22,69,22,556. The company operates with negligible finance costs of just ₹0.19 lakh, maintaining a debt-free foundation.

Governance Updates

The company will hold its 15th Annual General Meeting on September 28, 2026, via video conferencing. Key agenda items include the re-appointment of Managing Director Mahendra Ramniklal Shah and Independent Director Sanjay Chunilal Vibhakar for five-year terms. The Board has decided not to recommend any dividend for FY26.