Alps Industries Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 30, 2025
Awaiting price reaction for this filing.
Alps Industries Limited has filed the notice for its 53rd Annual General Meeting scheduled for September 30, 2025 at 3:00 PM, to be held via Video Conference. The company is currently under the Corporate Insolvency Resolution Process (CIRP) of the IBC, with Mr. Hemant Sharma acting as the Interim Resolution Professional. Key business to be transacted includes adopting the FY25 audited financial statements, re-appointing Mr. Sandeep Agarwal as Managing Director for three more years (April 2026 to March 2029) at Rs. 1,00,000 per month with 10% annual increment, appointing M/s Reshi & Associates as Secretarial Auditors for five years at Rs. 20,000 per year, and appointing M/s O. Aggarwal & Co. as Statutory Auditors for four years at Rs. 1,00,000 per year. The company reported a net loss of Rs. 6,399.04 lakhs in FY25 with zero turnover, continuing a trend of mounting losses (Rs. 5,623.85 lakhs in FY24, Rs. 6,043.36 lakhs in FY23). No dividend has been declared for the last seven years, and the company is in default of payment to lenders.
For shareholders, this is a routine AGM notice but signals ongoing financial distress with zero revenue, widening losses, and the company operating under insolvency proceedings. The re-appointment of the promoter MD and auditor changes are standard items, but the IBC status and lack of business activity are the most material points for any investor evaluating this stock.