VSF Projects Limited shareholders approved the adoption of audited financial statements for FY26 and reappointed key directors during the company's 34th Annual General Meeting (AGM) held on September 30, 2026.

The meeting, conducted at the registered office in SPSR Nellore District, Andhra Pradesh, saw all proposed resolutions pass with the requisite majority. The agenda included receiving and adopting the Balance Sheet, Statement of Profit and Loss, and Cash Flow Statement for the year ended March 31, 2026.

Director appointments and reappointments

Members approved the appointment of Vijaya Lakshmi Bobba as a director in place of herself, following her retirement by rotation. Additionally, two Non-Executive Independent Directors were reappointed for a second term via special resolutions:

• Ramesh Babu Nemani (DIN: 08089820)
• Srimamshetty Srinivasa Rao (DIN: 00895774)

Voting participation details

The voting process was conducted through remote e-voting and a physical poll at the meeting. Central Depository Services Limited (CDSL) served as the e-voting service provider, while Aarthi Consultants Private Limited acted as the Registrar and Share Transfer Agent. Mohit Gurjar, a practicing company secretary from P.S. Rao & Associates, served as the scrutinizer.

All four resolutions received unanimous support from the participating shareholders. The combined votes cast in favor across all resolutions totaled 75,26,652 shares, with no valid votes cast against any resolution. The e-voting window was open from September 27 to September 29, 2026, before being unblocked on the day of the AGM.

Scrutinizer report highlights

The scrutinizer's report, dated October 1, 2026, confirmed that the results were unblocked in the presence of two witnesses. The report detailed the breakdown of votes for each resolution, distinguishing between electronic voting and the physical poll conducted during the AGM.

For Resolution 1 (Adoption of Financial Statements) and Resolution 2 (Reappointment of Vijaya Lakshmi Bobba), the voting pattern was identical:

The same voting distribution applied to Resolution 3 (Reappointment of Ramesh Babu Nemani) and Resolution 4 (Reappointment of Srimamshetty Srinivasa Rao). In all cases, the 'Against' votes were recorded exclusively through the electronic medium, with no dissenting votes cast during the physical poll.

VSF Projects filed its 34th annual report for FY26, reporting a net loss of ₹43.22 lakh on zero revenue from operations. The company generated total income of ₹63.64 lakh entirely from other sources, primarily interest on bank deposits.

The infrastructure developer scheduled its Annual General Meeting (AGM) for September 30, 2026, at its registered office in SPSR Nellore District, Andhra Pradesh. Shareholders will vote on the adoption of financial results and the re-appointment of key board members.

Financial Performance

VSF Projects reported no revenue from operations during FY26, as it focused on setting up a Multi-Product Free Trade Warehousing Zone (FTWZ). Total income stood at ₹63.64 lakh, driven by interest income of ₹63.64 lakh from bank deposits, up from ₹42.88 lakh in FY25.

Total expenses rose to ₹103.73 lakh from ₹69.86 lakh in the previous year. Depreciation increased to ₹25.51 lakh from ₹13.56 lakh, while finance costs jumped to ₹16.71 lakh from ₹2.99 lakh due to higher borrowings. Other expenses were ₹60.47 lakh.

Board Re-Appointments

Shareholders will vote on the re-appointment of two independent directors for a second term of five years, commencing November 15, 2026, and concluding November 14, 2031.

Mr. Ramesh Babu Nemani seeks re-appointment as a Non-Executive Independent Director. He holds a postgraduate degree in law and brings over 30 years of corporate experience across engineering, telecom, and infrastructure sectors.

Mr. Sriramshetty Srinivasa Rao also seeks re-appointment. Having attained the age of 75 years, his continuation requires approval via special resolution under SEBI regulations. He possesses 35 years of experience in project management and SME development.

Mrs. Vijaya Lakshmi Bobba retires by rotation but is eligible for reappointment. She currently serves on the board and holds a 9.36% shareholding in the company.

Voting Details

Remote e-voting commences on September 27, 2026, at 9:00 am and ends on September 29, 2026, at 5:00 pm. The cut-off date for determining voting eligibility is September 23, 2026.

The Register of Members and Share Transfer Books will remain closed from September 24, 2026, to September 30, 2026. Mr. Mohit Gurjar has been appointed as the scrutinizer for the e-voting process.