Popular Foundations Ltd

Key findings

• Regulation 74(5) not applicable as all equity shares are in demat form.
• No dematerialisation/rematerialisation requests were received during the period.
• No exceptions, delays, or non-compliance reported.

Popular Foundations Ltd trading window closed from 01 October 2026 until 48 hours after the declaration of Unaudited financial results for the half year ended 30 September 2026.

AGM Details

• AGM held Sep 22, 2026 at 11:00 hrs via VC/OAVM.
• Remote e-voting Sep 19–21, 2026; cut-off date Sep 15, 2026.

Resolutions & Outcomes

• Resolution 1: Adoption of Annual Accounts 2025-26 — Passed, 12,557,000 for; 0 against.
• Resolution 2: Re-election of Mrs Vinita Venkatesh — Passed, 12,554,000 for; 3,000 against; 99.98% in favour.

Order details

• Awarding entity is Rajalakshmi Institute of Technology.
• Scope: Construction of super-structure for proposed G+7 floors with terrace and facilities.
• Contract value: ₹18.15 crore excluding GST.
• Delivery: 380 days from issuance of order dated 22.09.2026.
• Promoter/related party: No promoter group interest and not a related party transaction.
• Terms: Material escalation on major construction materials; time is of the essence; fixed rates till completion.
• Commencement: Immediate; completion within 380 days; no extension facilities beyond contract.
• Total estimated value: Rs 18,14,72,115 excluding GST.
• Date/time of receipt: 22.09.2026 at 13:00 hrs.

Financial performance

• Revenue from Operations: 6,178.59 Lakhs for FY26.
• Total Income: 6,225.79 Lakhs.
• EBITDA: 274.29 Lakhs; PBT: 107.34; PAT: 100.89 Lakhs.
• Current tax: 31.76; Deferred tax: (4.58); Earlier year tax: (20.75).
• Transfer to General Reserve: 1.01 Crores.
• Dividend: No dividend recommended for 2025-26.

Business profile & operations

• Single reportable construction segment; operations within India.
• Order books are healthy.
• No subsidiary.

Capital structure & liquidity

• Share capital: 2,037.80 Lakhs; 2,03,78,000 equity shares.
• IPO completed; funds raised; share capital Rs 20.38 Cr.
• Short-term borrowings: 1,246.99 Lakhs.
• Long-term borrowings: 165.55 Lakhs.
• Debt-Equity ratio: 0.33; Current ratio: 2.16.
• Debt service coverage: 1.53; ROE: 0.02.
• Earnings per share: Rs 0.50.

Governance & board

• Uma Sharvani appointed Independent Director on 23 March 2026.
• D H Gopalakrishnan resigned as Independent Director.
• Vinita Venkatesh re-elected as Director.
• Board met four times in 2025-26.
• Audit Committee chaired by V Sridhar; members N Venkatesan, Umaa Sharvani, A S Venkatesh.
• Statutory Auditor: Krishaan & Co.; Internal Auditor: Srinivasan & Srivatsan; Secretarial Auditor: R Mukundan.

Audit, risk management & controls

• Revenue recognition is a key audit matter due to contract complexities.
• Trade receivables: net Rs 901.89 Lakhs; unbilled receivables Rs 3,814.51 Lakhs.
• Trade payables: Rs 2,355.77 Lakhs.
• GST dispute: Rs 1.10 Lakhs under GST Act 2017.
• Internal controls: adequate; no fraud or litigation reported.

Related party transactions

• Transactions with MD/WD and related parties on arm's length basis.
• Salaries, Rent, and income from operation with related parties disclosed in notes.

CSR & compliance

• CSR not required for 2025-26 due to threshold.
• Company complies with applicable laws and secretarial standards; no material adverse events.

Outlook & risks

• Future prospects: construction sector growth; orders healthy; focus on safety, cost, quality, and delivery.

AGM Details

• AGM date/time and mode: 22 September 2026 at 11:00 IST via VC/OAVM.
• EVoting cut-off date: 15 September 2026.
• EVoting window: starts 19 September 2026 at 09:00 IST.
• EVoting window ends: 21 September 2026 at 17:00 IST.
• Notice and Annual Report emailed to members with registered IDs.
• Notice is available on the company's website.

Order details

• Entity awarding the order: Sastra Deemed to be University.
• Nature and scope: Construction of a convention centre at SASTRA University.
• Order value: ₹19.82 crore including GST.
• Domestic order awarded by a domestic entity.
• Execution period: 10 months from work commencement.
• Receipt date/time: 19 Aug 2026, 17:00 hrs.
• Promoter group: No interest; arm's length.