Vijay Solvex AGM: Revenue Hits Rs 2,366 Crore; Key Votes Pending

Standalone revenue rose to Rs 2,366.23 crore, up 29.25% from the previous fiscal year.
Standalone Profit After Tax reached Rs 18.80 crore, marking a marginal growth of 2.34%.

Reader Takeaway: Strong top-line performance faces scrutiny over large related-party deals and lack of shareholder dividends this cycle.

What just happened

Vijay Solvex Ltd has scheduled its 38th Annual General Meeting for September 28, 2026, in Alwar. The agenda includes high-value approvals for related party transactions and salary adjustments for key management personnel. Notably, the board has decided against a dividend for FY2025-26 to conserve cash for expansion.

Why this matters

The proposed related party transactions—Rs 1,250 crore with Deepak Vegpro Private Limited and Rs 300 crore with VDSD Foods Private Limited—represent a significant portion of the company’s business operations. Shareholders must evaluate the impact of these dealings on company margins. Additionally, the proposal to increase monthly remuneration to Rs 5 lakh each for Mr. Gaurav Data and Mrs. Neelima Data will be subject to member approval.

Corporate Governance and Operations

The company disclosed a minor non-compliance where 1.41% of promoter holdings remain in physical form due to an internal family dispute following a death in the HUF. Management aims to resolve this as concurrence is reached. Furthermore, the company’s wind power division in Jaisalmer remained idle due to a lack of financial viability.

What to track next

Watch for the outcome of the AGM votes on the proposed related party limits and remuneration packages, as these set the tone for operational governance in the coming year.