Ekennis Software Service Ltd reported a revenue decline to Rs 157.88 lakh for FY26 but successfully narrowed its net loss to Rs 100.74 lakh. The company scheduled its 7th AGM for September 30, 2026, to seek shareholder approval for key management appointments, auditor re-appointment, and executive remuneration despite recent financial losses.
Ekennis Software Service AGM and Financial Overview
Revenue fell to Rs 157.88 lakh from Rs 224.61 lakh; Net Loss narrowed to Rs 100.74 lakh from Rs 161.58 lakh.
Reader Takeaway: Loss narrowed via cost controls despite revenue drop; investor focus shifts to managerial remuneration approvals amidst insufficient profit.
What just happened
Ekennis Software Service Limited has announced its 7th Annual General Meeting (AGM) scheduled for September 30, 2026. The meeting will be conducted via video conferencing to discuss the financial statements for the fiscal year ended March 31, 2026, alongside key administrative and board resolutions.
Why this matters
The company reported a year-over-year decline in total revenue to Rs 157.88 lakh. While the net loss of Rs 100.74 lakh represents an improvement over the previous year's loss of Rs 161.58 lakh, the company's net worth has decreased to Rs 239.82 lakh. Shareholders are now required to vote on managerial remuneration proposals for directors, which have been tabled for approval due to the lack of adequate profits.
Business and Operational Update
Management cited rising raw material costs and global supply chain disruptions as the primary factors for the revenue decline. The company noted that long-term, fixed-price customer contracts hindered its ability to pass on these costs. To improve margins, Ekennis is pivoting toward AI-assisted design services and rebalancing its product-versus-service revenue mix.
Board and Management Update
Several key changes are up for shareholder vote:
- Ms. Manisha Sharma is proposed for re-appointment as Managing Director for 5 years.
- Mrs. Monika Sharma is set to be regularized as an Independent Director.
- The board is seeking approval for director remuneration packages, including Rs 40 lakh per annum for the Managing Director.
- M/s A Y & Co. are proposed for re-appointment as Statutory Auditors for a 5-year tenure.
Risks to watch
Continued sensitivity to input cost volatility and the company's reliance on transitioning to high-margin service models remain significant execution risks. Shareholders should monitor the ability to improve the bottom line in an environment of inadequate profits.