Pursuant to provisions of Regulation 34(1) of the SEBI (Listing Obligations & Disclosure Requirements) Regulations 2015, enclosed please find herewith Annual Report for the Financial Year 2024-25
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Jattashankar Industries has filed its 37th Annual Report for FY 2024-25 along with the AGM notice for a meeting scheduled on Saturday, September 20, 2025 at 12:00 pm via video conferencing. The AGM agenda includes adoption of FY25 audited financial statements, appointment of B.S. Vyas & Associates as secretarial auditor for five years (FY26–FY30), and regularization of two new independent directors (Siddharth Gajra and Harsh Nayak) appointed on August 7, 2025. Shareholders will also vote on appointing Keval Khudai as Chairman & Managing Director and Nileshbhai Bapodara as Whole-Time Director, both for three years at Rs. 12 lakh per annum, following the resignations of multiple existing directors including founder Chairman Jattashankar Poddar and Executive Director Sharad Poddar in August 2025. The company additionally proposes shifting its registered office from Mumbai to Pune, amending its object clause to enter the agri-products, edible oils and food commodities business, and raising its overall borrowing and investment limits to Rs. 100 crore each.
The filing reflects a near-complete change of control, with most of the original Poddar-family board replaced in August 2025 by a new management, alongside a pivot in stated business activity toward agri and food commodities. The proposed Rs. 100 crore borrowing/investment ceiling signals aggressive expansion or acquisition intent that could materially increase leverage. Retail shareholders should scrutinize the new management's background and the rationale for the business-line shift before voting at the September 20 AGM.