Arcee Industries Limited successfully conducted its 1st Extra-Ordinary General Meeting (EGM) for the financial year 2025-26 on February 21, 2026. The meeting, which commenced at 04:00 PM and concluded at 05:45 PM, was held in compliance with various MCA and SEBI circulars governing corporate meetings.

Meeting Leadership and Attendance

Mrs. Shruti Gupta, Whole Time Director, chaired the EGM proceedings. The meeting saw comprehensive participation from the company's leadership team and shareholders.

The meeting recorded attendance from 4 promoters and 31 public shareholders, ensuring adequate representation across stakeholder categories.

Key Resolutions Presented

The EGM addressed five critical special resolutions that will shape the company's future direction:

Voting Process and Compliance

The company implemented a comprehensive voting mechanism to ensure shareholder participation. Remote e-voting was conducted from February 18, 2026 at 9:00 AM to February 20, 2026 at 5:00 PM. Members holding shares as of the cut-off date February 14, 2026 were entitled to vote.

Mr. Chandan Kumar Jha of M/s. Chandan J & Associates, Practicing Company Secretaries, was appointed as scrutinizer to supervise the e-voting process and provide consolidated voting results. Members who had not participated in remote e-voting were provided opportunities to vote through ballot paper during the meeting.

Corporate Governance Framework

The meeting was conducted in strict adherence to regulatory requirements, following General Circulars issued by the Ministry of Corporate Affairs and SEBI guidelines. The company ensured proper notice distribution through electronic mode to shareholders whose email addresses were registered with the company or depositories as of January 23, 2026.

The EGM proceedings demonstrate Arcee Industries' commitment to transparent corporate governance and stakeholder engagement. The scrutinizer will submit consolidated results to stock exchanges and make them available on NSDL and stock exchange websites, ensuring complete transparency in the voting process.

Arcee Industries Limited announced its unaudited financial results for the third quarter of FY26 ended December 31, 2025, alongside several major corporate restructuring decisions approved by the board of directors on January 29, 2026.

Financial Performance Q3 FY26

The company reported a net loss of Rs 6.21 lakh for Q3 FY26, representing a 25.45% increase in losses compared to Rs 4.95 lakh loss in Q3 FY25. Revenue from operations stood at Rs 1.31 lakh for the quarter, while the company recorded negative other income of Rs 7.79 lakh in the previous quarter.

For the nine months ended December 31, 2025, the company's net loss widened to Rs 35.25 lakh compared to Rs 30.04 lakh in the corresponding period of FY25, with total income declining significantly to Rs 1.70 lakh from Rs 27.54 lakh.

Major Board Decisions and Corporate Actions

The board approved several significant corporate restructuring measures during their meeting on January 29, 2026:

Executive Leadership Changes

Two new executive directors were appointed as additional directors:

Capital Structure Enhancement

The board approved increasing the authorized share capital from Rs 10 crore to Rs 30 crore, with the number of equity shares expanding from 1 crore to 3 crore shares of Rs 10 each. This proposal requires shareholder approval at the upcoming Extraordinary General Meeting.

Preferential Issue of Warrants

A major fundraising initiative was approved involving the issuance of up to 2.25 crore convertible warrants:

The warrants carry conversion rights to equity shares with 25% payment required at subscription and 75% on exercise. Major proposed allottees include Ajay Kumar Gupta (10 lakh warrants), Anuj Gupta and Amit Gupta (20 lakh warrants each), and various other public investors.

Operational Status and Auditor Changes

The company continues to face operational challenges with no manufacturing activities currently underway. During the second quarter, the entire fixed assets and plant machinery of the steel pipes unit were sold, with other income reflecting losses on sale of plant and machinery.

In a significant development, the statutory auditors M/s Jain Mittal Chaudhary & Associates resigned with immediate effect from January 29, 2026, citing their decision to step down from their role.

Upcoming Shareholder Meeting

An Extraordinary General Meeting has been scheduled for February 21, 2026, at 4:00 PM to seek shareholder approval for the authorized capital increase, preferential warrant issue, and director appointments. CS Chandan Jha has been appointed as scrutinizer for the meeting.

The company's paid-up equity share capital remains at Rs 513.88 lakh as of December 31, 2025, with the business operating across two segments: PVC pipes and steel pipes, though both segments reported losses during the quarter.