Annual Report for the FY 202425 and the Adjourned 56th AGM Notice was included in the same Annual Report
Awaiting price reaction for this filing.
Binny Ltd has submitted its Annual Report for FY 2024-25 along with notice for an Adjourned 56th AGM scheduled for May 29, 2026 through video conferencing. The original AGM held on December 31, 2025 was adjourned sine die because the audited financial statements could not be adopted due to severe corporate governance disruptions. The company underwent major Board changes following a SEBI order in July 2024 that restricted key management personnel, forcing the company to seek High Court intervention for Board reconstitution. A new Board was appointed via EGM on January 4, 2025. Financially, the company reported strong recovery with revenue of Rs 8,633.14 lakhs and profit after tax of Rs 4,651.91 lakhs, compared to a loss of Rs 2,423.85 lakhs in the previous year. The JDA dispute with SPR Construction Private Limited was settled via a Second Amended agreement executed on August 6, 2025.
Shareholders will vote on adopting the FY 2024-25 audited financial statements at the May 29 AGM. The dramatic turnaround from loss to profit signals recovery, but the company's history of governance disruptions and regulatory actions may keep investors cautious.