Vishnu Prakash R Punglia Limited concluded its 13th Annual General Meeting (AGM) on September 30, 2026, with shareholders approving critical corporate actions including an increase in authorized share capital and the issuance of fully convertible warrants.

The meeting, held via Video Conferencing/Other Audio-Visual Means (VC/OAVM) in compliance with Ministry of Corporate Affairs and SEBI circulars, commenced at 12:30 pm and concluded at 1:10 pm. The agenda covered both ordinary and special business, reflecting the company’s strategic financial planning for the upcoming fiscal period.

Key resolutions passed

Shareholders voted on several significant items during the virtual meeting. The ordinary business included the adoption of audited financial statements for the fiscal year ended March 31, 2026, and the reappointment of directors retiring by rotation.

The special business focused on remuneration approvals and capital structure changes:

• Director Remuneration: Approval for payment of remuneration to Whole-time Directors Mr. Ajay Punglia, Mr. Vishnu Prakash Punglia, Mr. Kamal Kishor Punglia, and Mr. Sanjay Kumar Punglia in the event of absence or inadequacy of profits.
• Capital Structure: Approval to increase the Authorized Share Capital and subsequent alteration of the Capital Clause in the Memorandum of Association.
• Debt-to-Equity Conversion: Approval for the conversion of unsecured loans from Directors-Cum-Promoters into equity shares.
• Warrant Issuance: Issuance of Fully Convertible Warrants on a preferential basis to persons belonging to the “Non-Promoter- Public Category.”

Voting mechanism and scrutiny

The company provided remote e-voting facilities through MUFG Intime India Private Limited from September 27, 2026, to September 29, 2026. Members who did not vote remotely could cast their votes electronically during the meeting. CS Mahesh Soni of GMJ & Associates served as the scrutinizer for the voting process.

The results of the voting are expected to be declared within two working days of the meeting. The company will separately intimate the final results to the stock exchanges as per regulatory requirements.

Vishnu Prakash R Punglia Limited has scheduled its 13th Annual General Meeting for September 30, 2026, to approve a ₹80.2 crore preferential issue of fully convertible warrants and increase its authorized share capital to ₹200 crore.

The infrastructure and engineering firm will hold the meeting via video conferencing. Shareholders will vote on several special resolutions, including the issuance of 2.11 crore warrants at ₹38 each to non-promoter public investors. The company plans to utilize ₹60.2 crore of the proceeds for working capital requirements and ongoing projects, with the remaining ₹20.1 crore allocated for general corporate purposes.

Capital Structure Changes

The Board seeks approval to raise the authorized share capital from ₹150 crore to ₹200 crore by creating 5 crore additional equity shares of ₹10 face value each. This move aims to provide flexibility for future fundraising activities.

Additionally, shareholders will decide on enabling the conversion of outstanding unsecured loans from directors-cum-promoters into equity shares. The facility allows promoters to adjust loans up to ₹200 crore towards subscription in future fund-raising events, subject to regulatory approvals.

Director Remuneration and Re-appointment

The AGM agenda includes the re-appointment of directors Sanjay Kumar Punglia and Ajay Pungalia, who retire by rotation. Members will also ratify remuneration for whole-time directors Vishnu Prakash Punglia, Sanjay Kumar Punglia, Kamal Kishor Pungalia, and Ajay Pungalia in the event of absence or inadequacy of profits for the period ending September 29, 2028.

What the Numbers Show

The company reported a net loss of ₹1,772.6 million in FY26, a reversal from the profit of ₹585.96 million recorded in FY25. This decline coincided with a revenue contraction from ₹12,461.98 million in FY25 to ₹8,613.95 million in FY26. The operating margin turned negative at -9.65% in FY26, compared to 12.56% in the prior year. The explanatory statement attributes the loss to slowed work certification and payment releases from government departments across principal markets.

Voting Details

Remote e-voting will be available from September 27, 2026, at 9:00 am until September 29, 2026, at 5:00 pm. The record date for determining voting eligibility is September 23, 2026.