Kachchh Minerals has scheduled its 45th Annual General Meeting for September 29, 2026, following a challenging fiscal year where the company swung to a net loss of Rs 1.10 crore from a profit of Rs 1.79 lakh in FY25. The company also announced the appointment of a new statutory auditor and disclosed that a previously planned preferential share issue did not materialize.
Kachchh Minerals Annual Report: FY26 Loss and Governance Changes
FY26 Net Loss: Rs 1.10 crore. Total Income: Rs 2.53 lakh.
Reader Takeaway: Significant revenue decline and annual loss necessitate close scrutiny of upcoming AGM auditor appointment and recovery strategy.
What just happened
Kachchh Minerals Limited has issued its 45th Annual General Meeting notice, set for September 29, 2026, via video conferencing. The company reported a significant financial downturn for FY26, with total income plummeting to Rs 2.53 lakh from Rs 35.81 lakh in the previous year. Expenses rose sharply to Rs 113.10 lakh, resulting in a net loss of Rs 110.56 lakh, or Rs 2.08 per share.
Why this matters
The financial results indicate a sharp erosion in operational scale and profitability. Additionally, a major proposed preferential issue of 7.38 crore shares to Rajhans Procon Private Limited failed to materialize due to a lack of necessary stock exchange approvals, creating uncertainty regarding the company's capital raising plans.
The backstory
The company recently shifted its registered office to Kandivali (East), Mumbai, effective February 2026. Following the resignation of M/s. Om Prakash S. Chaplot & Co. in August 2026, the board has proposed M/s. A.K. Mantri & Associates as new statutory auditors for a five-year term, subject to shareholder approval at the upcoming AGM.
Risks to watch
Investors should monitor the company's ability to stabilize its financial position given the sharp decline in income and the unsuccessful preferential share issuance. Furthermore, the company is addressing a compliance matter regarding 200 promoter shares held in physical form, which must be rectified under current SEBI guidelines.
What to track next
The September 29th AGM will be critical for understanding management's plan to return to profitability and for the formal appointment of the new audit firm.