IITL Projects Ltd

Meeting Details

• Board meeting on Oct 30, 2026 to consider unaudited results for quarter and half-year ended Sep 30, 2026.

Key Agenda Items

• Consideration and approval of unaudited financial results for the quarter and half-year ended September 30, 2026.

Other Notes

• Trading window closed till 48 hours after the declaration of financial results on Oct 30, 2026.

IITL Projects Limited: Trading Window closed from Thursday, October 01, 2026 till 48 (Forty-Eight) hours after the declaration of the Un-audited Standalone Financial Results of the Company for the quarter and half year ended September 30, 2026.

agm details

• AGM held Sept 17, 2026 at 12:00 noon via VC/OAVM.
• Physical attendance dispensed with; meeting conducted via electronic means.

resolutions and outcomes

• Resolution 1 (Ordinary): Adoption of Audited Financial Statements for FY2026; passed 100% in favour.
• Resolution 2 (Ordinary): Re-appointment of Dr Bidhubhusan Samal as director; passed 100% in favour.

director changes

• Dr Bidhubhusan Samal retires by rotation and is re-appointed.

AGM Details

• Date and time: 17 September 2026, 12:00 noon, via VC/OAVM.

Key resolutions

• Adoption of Audited Financial Statements for year ended 31 March 2026 (Ordinary).
• Re-appointment by rotation of Dr. Bidhubhusan Samal (Ordinary).
• Voting results pending; to be declared within two working days after Scrutinizer’s report.

AGM notice and compliance

• AGM on Sept 17, 2026 at 12:00 IST via VC/OAVM.
• Annual Report FY2025-26 accessible via company web-link.
• Mailing to members without registered emails; cut-off date Aug 14, 2026.
• Links to Annual Report and Investor page disclosed.
• KYC updates and dematerialization of physical securities mandated.
• Folio holders lacking PAN/nomination/contact/bank details to receive electronic payments only.

Book closure and AGM details

• Book closure from Sep 10, 2026 to Sep 17, 2026 (inclusive).
• Purpose: 32nd Annual General Meeting.
• Cut-off date for voting and entitlement: Sep 10, 2026.
• AGM date and time: Sep 17, 2026 at 12:00 IST via VC/OAVM.
• Security: equity shares (IITLPROJ).

Financial performance

• Revenue from operations NIL in FY2025-26; prior year Rs 2,071.34 thousand.
• Total income Rs 18,081.38 thousand in FY2025-26; Rs 23,500.23 thousand in FY2024-25.
• Net profit after tax Rs 12,521.92 thousand in FY2025-26; Rs 314,711.59 thousand in FY2024-25.
• Earnings per share Rs 2.51 in FY2025-26; Rs 63.06 in FY2024-25.
• Current ratio 59.77x as at 31 March 2026.
• Accumulated losses Rs 523.75 lakh; net worth negative Rs 2,296.93 thousand.

Capital structure & ownership

• Equity share capital Rs 50.08 million; 4,990,900 shares; 7,000,000 NCRPS issued.
• Holding company IITL owns 71.74% of equity and 100% of NCRPS.
• Dividend for FY2025-26 not recommended.
• No subsidiaries, joint ventures, or associates as of 31 March 2026.
• Harshida J. Parikh appointed Company Secretary & Manager Aug 2025; Gorakh Ingale appointed CFO Nov 2025.

Governance & management changes

• Board as at year-end includes Dr. Bidhubhusan Samal (Chairman), Bipin Agarwal, and independent directors Sujata Chattopadhyay, Shriram Khandelwal, Shankar Mokashi.
• Shivani Kawle resigned as Manager & Company Secretary effective 02 June 2025.
• CFO changes: Gorakh Ingale appointed Nov 2025; previous CFO Sagar Jaiswal resigned Aug 2025.
• Audit Committee met 4 times; Nomination & Remuneration Committee met 3 times; Stakeholders Relationship Committee met once.

Business operations & post-year developments

• Company operates in real estate; no current projects generating revenue.
• Entered Channel Partner arrangements for residential projects; security deposits placed; brokerage potential.
• Exploring brokerage, construction consultancy, and project management services pending regulatory approvals.
• Post-year, no subsidiary activity; strategic focus on diversification.

Related party transactions

• Holding company Industrial Investment Trust Limited is related party; rent for office premises under long-term arrangement.
• Remuneration to related parties: Rs 0.992 million in FY2025-26.
• Sitting fees to directors from related party: Rs 1.260 million in FY2025-26.

Audit, controls & risk

• Statutory auditors: Maharaj N R Suresh and Co. LLP; report unmodified despite going concern note.
• Internal control system deemed adequate; no material weaknesses reported.
• Going concern note highlights erosion of net worth and absence of operating cash flows.

Post-year risk & outlook

• Auditor notes material uncertainty about continuity; management pursuing diversification to improve position.
• Indian real estate fundamentals remain favorable, but IITL is not currently cash-flow positive.

Significant post-year item

• MOU with Uninor Infrabuild Private Limited for a Rs 30 crore property was cancelled; Rs 5 crore paid earlier; Rs 1 crore recovered.

AGM Details

• 32nd AGM on Sept 17, 2026 at 12:00 IST via VC/OAVM.
• Register of Members and Share Transfer Books closed Sept 10–17, 2026.
• Remote e-voting window: Sept 14–16, 2026; cut-off Sept 10, 2026.

Resolutions Proposed

• Ordinary: Adopt Audited Financial Statements for FY 2025-26.
• Ordinary: Re-appoint Dr. Bidhubhusan Samal as Director, retiring by rotation.
• Voting results not disclosed in the notice.

Director Appointment Details

• Director for appointment: Dr. Bidhubhusan Samal; retirement by rotation.
• Remuneration proposed: 30,000 per board meeting; 20,000 per committee meeting.
• Remuneration last drawn: 2,30,000 as sitting fees.
• Directorship elsewhere: Industrial Investment Trust Limited.
• Date of appointment: 5 March 2008; age 83.
• Terms: Non-Executive Director liable to retire by rotation.