Mohit Industries has scheduled its 36th Annual General Meeting for September 30, 2026. Key agenda items include the approval of financial statements, the reappointment of Mr. Naresh Sitaram Saboo, and the ratification of Rs 50,000 for cost audit fees. Most notably, the board is seeking member approval for unsecured, on-demand borrowings from four promoters totaling Rs 6,000 lakhs to support operational cash flow requirements.
Mohit Industries Annual General Meeting Set For September 30
- Rs 6,000 Lakh proposed unsecured borrowing from promoters.
- 0.68 Debt Service Coverage Ratio maintained post-transaction.
Reader Takeaway: The company seeks liquidity via promoter-led unsecured loans while maintaining a consistent debt service coverage ratio.
What just happened
Mohit Industries Limited has formally issued the notice for its 36th Annual General Meeting, scheduled for September 30, 2026. The meeting will be conducted via Video Conferencing or Other Audio Visual Means. Shareholders will vote on the adoption of the standalone and consolidated financial statements for the fiscal year ended March 31, 2026.
Why this matters
A primary point of business is the proposed authorization for unsecured, on-demand borrowings from promoters. The company intends to raise Rs 1,500 lakhs each from four promoters—Narayan Sitaram Saboo, Manish Narayan Saboo, Mohit Narayan Saboo, and Naresh Sitaram Saboo—totaling an aggregate of Rs 6,000 lakhs. The company maintains that these transactions are at arm's length and essential for maintaining operational cash flows.
Financial impact
Projections provided by the company indicate that these borrowings will adjust the Debt-to-Equity ratio from 2.55 to 2.37. The Debt Service Coverage Ratio is reported to remain steady at 0.68 before and after the infusion of these funds.
Participation details
The register of members will be closed from September 24 to September 30, 2026. Shareholders eligible to vote must do so via the e-voting platform, which opens on September 26 at 9:00 a.m. and closes on September 29, 2026, at 5:00 p.m. The cut-off date for eligibility is September 23, 2026.