Notice to the 31st Annual General Meeting of the Company along with the Annual Report for the Financial Year ended 31st March 2025.
Awaiting price reaction for this filing.
Turner Industries Limited (formerly Laser Diamonds Limited) has sent out the notice for its 31st AGM to be held on September 30, 2025 at 11:30 AM via video conferencing. For FY25, the company reported nil revenue and a net loss of Rs. 2.64 lakhs, slightly better than the Rs. 3.28 lakh loss in FY24. The directors stated that the company had no operations during the year and are exploring avenues to revive business. Cash and cash equivalents stood at just Rs. 81,000, while directors infused an unsecured loan of Rs. 2.26 lakhs to sustain the entity. No dividend was declared. Key business at the AGM includes adoption of accounts, reappointment of Mr. Lalit Samdaria as director retiring by rotation, and appointment of M/s HPN & Associates as Secretarial Auditors for a five-year term till the 2030 AGM. The secretarial audit flagged compliance gaps including the absence of a full-time company secretary, no internal auditor, and only one independent director serving on the audit committee.
This is essentially a dormant, loss-making shell company with no revenue, low cash, and multiple governance lapses, offering little near-term value to shareholders. The director loan, name change from Laser Diamonds, and talk of reviving operations hint at possible future restructuring or a fresh business push, but until operations resume, the stock is likely to remain a low-liquidity, high-risk hold.