Annual Report for FY 2025-2026
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Awaiting price reaction for this filing.
Classic Electricals Limited has filed its Annual Report for FY 2025-26 along with the notice for its 41st Annual General Meeting, scheduled for Thursday, 25th June 2026 at 3:00 p.m. at the registered office in Lower Parel, Mumbai. The agenda includes adoption of audited financial statements for the year ended March 31, 2026, and re-appointment of Mr. Sunil Hirji Shah (Executive Director and CFO), who retires by rotation. A key highlight is multiple related party transactions seeking shareholder approval, including a fresh lease deed with Great White Global Private Limited for ~22,001 sq.mts of land in Valsad, Gujarat at Rs. 2,00,000 per month, and the company acting as a confirming party to another 34-month lease deed at Rs. 3,00,000 per month. The company also proposes Leave and License Agreements with six related entities (Karan Electronics, Huges Real Estates Developers LLP, Lakozy Builders LLP, Kalindi Properties, Anchor Sky Scrapers LLP, Mount Blanc Real Estate LLP) for small 50 sq.ft office units at Rs. 10,000 per month each. Remote e-voting runs from 22nd to 24th June 2026.
Shareholders should review the related party transactions carefully, as the company appears to be generating recurring lease/license income from several promoter-group entities, which may indicate the company's primary operations have shifted toward real estate leasing. The small ticket sizes and concentration of transactions with related parties warrant attention for governance and arm's-length pricing.