Modipon Limited has announced the schedule for its 59th Annual General Meeting (AGM) on September 29, 2026, to be held via Video Conferencing. The company also released its Annual Report for the Financial Year 2025-26, detailing financial performance, related party transactions with Status Mark Finvest Limited and Ashoka Mercantile Limited, and auditor’s report. The report highlights a net loss of ₹51.05 Lakhs for FY 2025-26.
59th Annual General Meeting Scheduled
Modipon Limited has announced that its 59th Annual General Meeting (AGM) will take place on Tuesday, September 29, 2026, at 3:00 p.m. IST. The meeting will be conducted through Video Conferencing (VC) / Other Audio-Visual Means (OAVM) as per the circulars issued by the Ministry of Corporate Affairs and SEBI. The notice for the AGM, dated August 14, 2026, outlines the businesses to be transacted.
Annual Report for FY 2025-26 Released
The company has also released its Annual Report for the Financial Year 2025-26, along with the AGM Notice. This report is available on the company’s website and was dispatched to members in electronic mode. The report covers the company’s financial statements, directors’ report, and corporate governance details.
Financial Highlights for FY 2025-26
For the financial year ended March 31, 2026, Modipon Limited reported a net loss after tax of ₹51.05 Lakhs. This compares to a net loss of ₹66.16 Lakhs in the previous financial year (FY 2024-25). The company did not generate any revenue from operations during FY 2025-26, attributing the loss to ongoing operational closures and financial constraints. The turnover for FY 2025-26 was nil, with total expenses amounting to ₹70.98 Lakhs.
Related Party Transactions Noted
The Annual Report details proposed Material Related Party Transactions. These include entering into or continuing related party transactions with Status Mark Finvest Limited for financial assistance up to ₹1 crore and with Ashoka Mercantile Limited for financial assistance up to ₹1 crore. These transactions are considered necessary due to the permanent closure of the company’s manufacturing operations.
E-Voting and Record Date
The record date for e-voting purposes is set as Tuesday, September 22, 2026. Remote e-voting will be open from 9:00 a.m. IST on Saturday, September 26, 2026, until 5:00 p.m. IST on Monday, September 28, 2026. The register of members and share transfer books will be closed from Wednesday, September 23, 2026, to Tuesday, September 29, 2026, inclusive.
Auditors’ Report and Key Audit Matters
The auditors, B. M. Chatrath & Co. LLP, have issued a qualified opinion on the financial statements due to several pending matters, including non-provision of interest on overdue supplier payments, outstanding liabilities, and unsettled loans. Key audit matters highlighted relate to the evaluation of uncertain tax positions and the company’s reliance on being a going concern, given its operational closure.
Source: BSE
