Mahalaxmi Seamless Ltd

Deviation & Variation status

• Purpose: Deviation/variation not applicable for the period.
• Mode of fund raising: Not applicable.
• Amount raised: Not applicable.
• Deviation/variation: Not applicable.
• Approval/comments: Not applicable.
• Monitoring agency: Not applicable.
• Utilisation status: Not applicable.

Dematerialisation confirmation

• Dematerialisation requests received for quarter ended 30 September 2026 were confirmed to depositories (accepted/rejected) by the RTA.
• Securities dematerialised have been listed on the stock exchanges where the earlier issues are listed.
• Physical certificates for dematerialisation were mutilated and cancelled; depository name substituted as registered owner within 15 days.

Mahalaxmi Seamless Limited — Trading window closed from Oct 13, 2026 till 48 hours after the unaudited financial results for the quarter ended Sep 30, 2026

AGM Details

• Date and time: 24 September 2026, 09:00 IST, physical AGM at Pipenagar, Nagothane.
• Mode: physical meeting with e-voting facility available during 21–23 September 2026.

Key Resolutions

• Resolution 1 (ordinary): Adopt audited standalone financials for year ended March 31, 2026.
• Resolution 2 (ordinary): Re-appoint Mala Sharma as director retiring by rotation.
• Resolution 3 (ordinary): Appoint Elangovan Ramnathan as Non-Executive Independent Director for five years.

Voting Results

• Resolution 1 passed with 100% in favour.
• Resolution 2 passed with 99.98% in favour; 0.02% against.
• Resolution 3 passed with 99.98% in favour; 0.02% against.

Directors

• Mala Sharma re-appointed as director retiring by rotation.
• Elangovan Ramnathan appointed Non-Executive Independent Director for five years.

Dividend

• No dividend proposed or declared.

Financial performance

• Total income stood at ₹191.09 lakhs for FY2025-26.
• Revenue from operations: ₹188.82 lakhs, up from ₹186.32.
• Profit before tax: loss ₹9.45 lakhs.
• Profit after tax: loss ₹7.30 lakhs.
• Dividend proposed: none; no final dividend.
• Balance carried to balance sheet: negative ₹7.39 lakhs.
• Employee benefits expense rose to ₹124.85 lakhs from ₹78.94.
• Gratuity provision ₹49.08 lakhs recognised during the year.

Operational highlights

• Leased entire plant to Jindal Saw Ltd since 2017; regular rent.
• Core business unchanged; software automation focus emphasized.
• No subsidiary or associate companies.

Dividend & capital allocation

• No dividend declared for FY2025-26.
• No transfers to reserves in the year.

Governance

• Elangovan Ramnathan appointed Non-Executive Independent Director for five years (Nov 13, 2025).
• Mala Sharma re-appointed; retires by rotation.
• Board and committees functioning; standard governance practices noted.

Audit & secretarial

• Statutory auditors: Agrawal Jain & Gupta; Secretarial auditor: Neelakshee R. Marathe & Co.
• Secretarial audit notes include IEPF transfer, promoter demat gaps, and website/policy publication gaps.
• No additional material audit flags beyond noted observations.

Related party transactions

• Related party transactions with associates; remuneration and loans disclosed; arm's length terms.
• Related party policy adopted; disclosures in Ind AS financial statements.

AGM & e-voting

• 35th AGM scheduled 24 September 2026 at registered office.
• Remote e-voting open 21-23 September 2026; cut-off 17 September 2026.
• Voting via CDSL; AGM/VC-OAVM joining instructions included.

AGM Details

• AGM conducted via VC/OAVM; date Sep 24, 2026; time 9:00 a.m.
• Voting cut-off date set for Sep 17, 2026.

Key Resolutions

• Adoption of standalone financial statements and reports.
• Re-appointment of director retiring by rotation.
• Appointment of non-executive independent director for five years.

Voting & Attendance

• Proxy attendance not available; attendees may join via VC/OAVM.
• Remote e-voting opens Sep 21, 2026 at 09:00; closes Sep 23, 2026 at 17:00.

Key approvals

• Draft Board's report and secretarial audit for FY ended 31 March 2026 approved.
• Draft notice for 35th AGM for FY ended 31 March 2026 approved.
• Scrutinizer appointed for AGM: M/s Neelakshee R. Marathe & Co.
• Expansion plans, future visibility, and issues discussed.

Financials and governance

• Unaudited standalone quarterly results for quarter ended 30 June 2026 approved.
• Limited Review Report on the results issued by Agrawal Jain & Gupta.
• Change in designation of Madhavprasad Jalan as Chairperson; Vivek Jalan designated as Chairperson.
• Effect date to be decided by Board.
• Results reviewed by Audit Committee and Board on 13 August 2026.
• Auditor: Independent review by Agrawal Jain & Gupta; no material misstatement found.

Meeting Details

• Board meeting scheduled for 13 August 2026 at 04:00 PM at the registered office.

Key Agenda Items

• Unaudited financial results for the quarter ended 30 June 2026, with Limited Review Report.
• Change in designation of Chairperson from Govindram Jalan to Vivek Madhavprasad Jalan.
• Designation of Vivek Madhavprasad Jalan as Chairperson with effect from date to be decided by the Board.