Annual Report for the FY2024-2025 along with Notice of the 14th Annual General Meeting
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Awaiting price reaction for this filing.
Athena Constructions Ltd has filed its 14th AGM notice along with the Annual Report for FY2024-25. The AGM is scheduled for September 30, 2025 at 12:30 PM at the registered office in Vile Parle East, Mumbai. Key resolutions include adopting the audited financial statements, re-appointing three Independent Directors (Brijkishore Ruia, Shashikant Rathi, and Asha Maheshwari) for a second 5-year term, and re-appointing Santosh Nagar as Managing Director for another 5-year term. The company's financial performance has sharply deteriorated — total income collapsed to Rs 0.47 lakhs (from Rs 75.35 lakhs in FY24) and the company swung to a loss after tax of Rs 74.27 lakhs versus a small profit of Rs 2.11 lakhs in the previous year. No dividend has been recommended, and cumulative losses have grown to Rs 97.47 lakhs. The secretarial auditor flagged delays in appointing a Company Secretary and an Internal Auditor, and a one-day delay in filing prior year financial results.
Sharply declining revenues and widening losses signal serious business trouble for this small-cap construction company, which is a negative for shareholders. The AGM resolutions are largely routine governance re-appointments with no fresh capital action or dividend, so the meeting itself is unlikely to move the stock.