Revised Annual Report as per Reg. 34 of SEBI LODR
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Maharashtra Corporation Limited has filed its annual report for FY 2024-25 along with the notice for its 43rd Annual General Meeting, scheduled for 30 September 2025 at 12:00 p.m. at Vyanjan Banquet Hall, Andheri (West), Mumbai. Revenue for the year nearly doubled to Rs. 155.01 lakh from Rs. 79.49 lakh in the previous year, but profit after tax slipped to Rs. 10.78 lakh from Rs. 15.49 lakh as expenses rose faster than income. The Board has not recommended any dividend for the year. Shareholders will vote on five items, including approval of material related party transactions of up to Rs. 25 crore per related party with eight Visagar-group companies (where Chairman Tilokchand Kothari holds directorship and over 2% stake), re-appointment of M/s. Kirti Sharma & Associates as secretarial auditor for a five-year term, and regularization of Mr. Vikasjeet Singh as a non-executive non-independent director. The company also saw a change in Company Secretary, with Hardika Solanki resigning on 30 May 2025 and Meenu Sharma taking over from 6 June 2025.
Retail shareholders should pay attention to the proposed material related-party transactions worth up to Rs. 25 crore each, as related parties are barred from voting on this resolution. Despite higher revenue, declining profitability and the absence of a dividend signal weak earnings momentum in the near term.