Intimation in regards with the Annual Report 2024-25 alongwith the AGM notice
Awaiting price reaction for this filing.
Alps Industries Limited has submitted its Annual Report for FY 2024-25 along with the notice for its 53rd Annual General Meeting, scheduled for September 30, 2025 at 3:00 PM via video conferencing. The AGM will seek shareholder approval for adopting the audited financials, re-appointing Mr. Sandeep Agarwal as Managing Director for another three years (from April 1, 2026 to March 31, 2029) at a salary of 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 annum, and appointing M/s O. Aggarwal & Co as Statutory Auditors for four years at Rs. 1,00,000 per annum. The company reported a net loss of Rs. 6,399.04 lakh in FY 2024-25 with zero turnover, marking the third consecutive year of losses. The company is currently under the Corporate Insolvency Resolution Process (CIRP) under IBC, with Mr. Hemant Sharma acting as the Interim Resolution Professional, and no dividend has been declared for the past seven years.
Shareholders should note that the company is under IBC insolvency proceedings, has reported zero revenue in the latest fiscal year, and continues to post widening losses. Approval of the MD's re-appointment and auditor changes are largely procedural, but the operational and financial condition signals significant distress for shareholders.