Mena Mani Industries has successfully completed the approval process for its strategic business expansion, with shareholders formally approving alterations to the company's Memorandum of Association in an Extraordinary General Meeting held on December 31, 2025.

Shareholder Approval for Business Diversification

The company disclosed to BSE Limited on January 1, 2026, that shareholders have approved the insertion of new objects in the Main Object Clause of the Memorandum of Association. The EGM commenced at 5:36 p.m. and concluded at 5:42 p.m., with Managing Director Swetank M. Patel overseeing the proceedings.

Preferential Share Issue Details

The board had previously approved issuing 81,00,000 equity shares on a preferential basis to 23 non-promoter entities and individuals, subject to shareholder approval and regulatory compliance.

New Business Verticals Approved

Shareholders have formally approved two major business expansions:

Hotels and Resorts Operations

The company can now operate hotels, motels, resorts, lodging houses, and guest houses with associated amenities. This includes developing tourism centers, restaurants, conventions, and entertainment facilities. The scope extends to establishing partnerships with hotel chains both in India and abroad.

Mining and Quarrying Activities

Mena Mani Industries is now authorized to engage in comprehensive mining operations including prospecting, exploring, and operating mines and quarries. The company can handle various materials including precious stones, metals like gold, silver, aluminum, iron, and industrial minerals such as limestone, bauxite, and coal.

Strategic Acquisition Update

The board had also approved acquiring JKV Solutions Limited as a wholly-owned subsidiary, to be financed through the preferential equity share issue. This acquisition aligns with the company's diversification strategy into technology services.

Regulatory Compliance

All approved changes comply with the Companies Act, 2013, SEBI guidelines, and Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The formal disclosure was made under the company's CIN: L29199GJ1992PLC018047.

Mena Mani Industries Limited , a company listed on the BSE, has reported a loss of Rs. 6.76 lakhs for the quarter ended September 30, 2025, according to its latest financial results. The company has also rescheduled several critical decisions, highlighting ongoing financial challenges.

Financial Performance

The company's financial results for Q2 FY2026 reveal a concerning picture:

Despite a year-on-year increase in revenue, the company's profitability has significantly declined. The loss in Q2 FY2026 stands in contrast to the profit of Rs. 51.42 lakhs in the same quarter of the previous year.

Financial Position

The balance sheet as of September 30, 2025, reveals some concerning figures:

• Negative Equity: The company's total equity stands at negative Rs. 75.11 lakhs, indicating financial stress.
• High Borrowings: Non-current borrowings amount to Rs. 1470.69 lakhs, which is significantly high compared to the company's assets and equity position.
• Working Capital Issues: Current liabilities have increased to Rs. 228.00 lakhs from Rs. 39.77 lakhs as of March 31, 2025, potentially indicating liquidity challenges.

Rescheduled Board Decisions

In light of these financial challenges, Mena Mani Industries has rescheduled several key decisions to November 18, 2025:

1. Consideration of an increase in Authorized Capital
2. Potential fundraising through the issue of Equity Shares on a Preferential Basis
3. Proposed acquisition of a Software Company to make it a wholly-owned subsidiary

These postponed decisions suggest that the company is exploring various options to improve its financial position and possibly diversify its operations.

Implications for Stakeholders

The current financial situation of Mena Mani Industries may raise concerns among shareholders and potential investors. The negative equity position and high borrowings could impact the company's ability to raise additional capital or secure favorable terms for future financing.

The rescheduling of key decisions, particularly those related to capital raising and potential acquisitions, indicates that the company's management is carefully considering its strategic options in the face of financial challenges.

Investors and market observers will likely be watching closely for the outcomes of the rescheduled board meeting on November 18, 2025, as these decisions could significantly impact the company's future direction and financial health.