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Modipon Limited has scheduled its 58th Annual General Meeting on Tuesday, August 26, 2025 at 2:00 p.m. IST via video conferencing. Shareholders will consider adopting the FY 2024-25 audited financial statements, which show a loss after tax of Rs. 66.16 lakhs (wider than Rs. 58.38 lakhs loss in FY 2023-24), zero revenue from operations, negative net worth of Rs. 9,174.51 lakhs, and EPS of Rs. (0.57). Key resolutions include appointment of Ranjeet Verma & Associates as Secretarial Auditor for five years (FY 2025-30) at a proposed fee of Rs. 50,000, re-appointment of Independent Directors Mrs. Kavita Rani and Mr. Nitesh Kumar for a second five-year term each, re-appointment of Mr. Manish Modi as Chairman & Managing Director for five years, and approval of material related party transactions. The record date for e-voting is August 19, 2025, and remote e-voting runs from August 23 to August 25, 2025.
This is a routine AGM notice with no positive catalysts—financials remain weak with consecutive losses, zero operations, and deeply negative net worth. The re-appointment of promoter Mr. Manish Modi as CMD (who draws no salary) and the material related party transaction item require shareholder approval and may draw scrutiny. The absence of dividends or operational revival signals continued stress for shareholders.