Notice of 33rd Annual General Meeting of the Company
Awaiting price reaction for this filing.
The 33rd AGM of Dugar Housing Developments Ltd is scheduled for Tuesday, 23rd September 2025 at 12:30 PM at Pallava Hall, Cosmopolitan Club, Chennai. Only two ordinary business items are on the agenda: adoption of FY25 financial statements and re-appointment of Whole-time Director Mr. Lakshmaiah Devarajulu, who retires by rotation. FY25 results show a clear turnaround — income rose to Rs 30.23 lakhs (from Rs 0.19 lakhs) and the company swung to a net profit of Rs 3.50 lakhs versus a Rs 20.26 lakh loss the prior year. No dividend has been recommended. Several significant post-March 2025 events are flagged: authorized capital raised from Rs 10 cr to Rs 14 cr, 67 lakh equity shares and 27 lakh convertible warrants issued on a preferential basis at Rs 12/share to non-promoters (taking paid-up capital to 97 lakh shares), the main business object changed from real estate to IT and Artificial Intelligence, and the company's name is being changed (reflected as 'Axentra Corp Ltd' on BSE). An open offer by Mr. Vinoth Kumar Mohandas and Mrs. Suseela Kumarappan for 30.94 lakh shares (26% of capital) at Rs 12/share was announced on 7 April 2025. E-voting runs from 20–22 September 2025 with a cut-off date of 16 September 2025.
For shareholders, the AGM is routine but the broader backdrop is meaningful: the company has moved from a loss to a small profit, shifted its core business to IT/AI, raised fresh equity at Rs 12/share, and is undergoing a name change along with a takeover-related open offer at the same Rs 12 price. Existing investors should note the capital dilution (paid-up shares expanded from 30 lakh to 97 lakh) and the pending open offer as the key price-sensitive developments.