Notice of 37th Annual General Meeting along with annual report for FY 2022-23
Awaiting price reaction for this filing.
K.S. Oils Limited has sent out notices for its 37th and 38th Annual General Meetings, both to be held on Monday, September 29, 2025, via video conferencing — the 37th AGM at 11:00 a.m. and the 38th AGM at 4:00 p.m. The e-voting window runs from September 26 (9:00 a.m.) to September 28 (5:00 p.m.), with September 22, 2025 as the cut-off date and book closure period. The Directors' Report reveals a major turnaround story: the company was under Corporate Insolvency Resolution Process (CIRP) since July 2017, faced a liquidation order from NCLAT in March 2022, and was subsequently acquired by Sherisha Technologies Pvt Ltd (STPL) through its Special Purpose Vehicle, Soy-Sar Edible Private Limited. The NCLT Indore approved this acquisition on February 3, 2025. Shares of the company were delisted from NSE and BSE in 2018 during the moratorium period, but the stock exchanges have now changed the company's status from "Delisted" to "Suspended" effective May 5, 2025. The company is working on relisting compliance. Financially, FY 2022-23 showed no revenue from operations, total income of Rs. 210 lakhs, expenses of Rs. 3,258 lakhs, and a net loss of Rs. 3,048 lakhs (improved from a Rs. 3,402 lakh loss in FY 2021-22).
Shareholders should note the two-AGM-on-a-single-day arrangement is unusual and stems from delayed filings during the company's insolvency period. The transition from delisted to suspended status is a positive first step toward potential relisting, but the company is still working through compliance requirements. Investors should review the newly constituted board's plans and the FY 2023-24 annual report (also being presented) for a clearer picture of post-acquisition operations under STPL/Soy-Sar ownership.