VR Woodart Limited successfully concluded its Extraordinary General Meeting on January 14, 2026, with shareholders overwhelmingly approving all 15 proposed resolutions. The company announced the voting results on January 16, 2026, marking a decisive step in its comprehensive business transformation and leadership restructuring.

EGM Voting Results Overview

The EGM witnessed strong shareholder participation with 38 public shareholders attending through video conferencing. All resolutions received overwhelming support, with 99.99% of votes cast in favor across all proposals.

Leadership Appointments Confirmed

Shareholders approved all key leadership appointments with requisite majority:

Corporate Transformation Approved

The most significant resolution - changing the company name from V.R. Woodart Limited to Megamont Limited - received unanimous shareholder support. This change aligns with the company's strategic expansion into petroleum products and mining operations.

Financial and Operational Approvals

Shareholders approved critical financial resolutions enabling business expansion:

The board appointed M/s. KPN & Co. Chartered Accountants as statutory auditors to fill the casual vacancy, replacing M/s. Thakur Vaidyanath Aiyar & Co.

Committee Restructuring and Next Steps

Following the approvals, the company has reconstituted its key committees with the newly appointed directors. The registered office will shift from Walkeshwar, Mumbai to Marol MIDC, Andheri East, Mumbai as part of the corporate restructuring.

The voting process was conducted through remote e-voting from January 11-13, 2026, and physical voting at the EGM venue. Only minimal opposition was recorded, with just 2 votes against each resolution, representing negligible resistance to the transformation plans.

With all regulatory approvals now secured from shareholders, VR Woodart is positioned to complete its transformation into Megamont Limited and commence operations in the petroleum and mining sectors.

V R Woodart Limited , a company listed on the Bombay Stock Exchange (BSE: 523888), has announced significant changes in its leadership and released its financial results for the first quarter.

Leadership Transition

The company has undergone a change in its Chief Financial Officer (CFO) position. Mr. Anwar Shaikh has stepped down from his role as CFO, effective August 5, 2025, citing pre-occupation as the reason for his departure. However, Mr. Shaikh will continue to serve as a Whole Time Director of the company.

Following this resignation, the Board of Directors has appointed Mr. Sudesh Pingale as the new Chief Financial Officer, commencing his role on August 6, 2025. Mr. Pingale brings over 20 years of experience in financial analysis, reporting, and strategic decision-making to the position. He holds a Master's degree in Business Management with a focus on Finance and International Trade, and his background spans diverse sectors including textile manufacturing, healthcare, and media production.

Q1 Financial Results

V R Woodart Limited has released its unaudited financial results for the quarter ended June 30, 2025. The key highlights of the financial performance are as follows:

The company reported no revenue from operations or other income for the quarter. Total expenses increased significantly to ₹37.56 lacs compared to ₹1.96 lacs in the same quarter of the previous year. Consequently, the loss for the period widened to ₹37.56 lacs from ₹1.96 lacs year-over-year.

Other Key Developments

1. The Board has recommended the re-appointment of Mr. Anwar Shaikh as Whole Time Director, subject to shareholder approval at the upcoming Annual General Meeting (AGM).

2. Mr. Amit Sagar Kochar has been recommended for appointment as the Secretarial Auditor of the company for a term of five years.

3. The 35th AGM of the company is scheduled for September 15, 2025, to be held via video conferencing.

4. The company's auditors have emphasized that while the company's net worth has been completely eroded and operations are limited, the accounts have been prepared on a going concern basis.

5. V R Woodart Limited has previously approved a preferential issue of equity shares and convertible warrants, which is expected to bring in fresh capital to address outstanding liabilities and meet working capital requirements.

Despite the current financial challenges, the management remains committed to exploring opportunities and maintaining the company as a going concern. The appointment of a new CFO and the planned capital infusion through the preferential issue are steps aimed at steering the company towards a more stable financial position.

Investors and stakeholders will be watching closely to see how these changes and strategies impact the company's performance in the coming quarters.