Please refer to the attached Annual Report
Awaiting price reaction for this filing.
Grand Foundry Limited has scheduled its 34th AGM on June 30, 2026 at 1:00 PM via video conferencing. The company reported a strong turnaround in FY 2025-26, with revenue from operations of Rs. 1,052.56 lakhs (up from nil last year) and a net profit of Rs. 18.13 lakhs versus a loss of Rs. 68.06 lakhs in FY 2024-25. This improvement followed a change in management and control after the new promoter group acquired shares from erstwhile promoter Ms. Madhu Garg via a Share Purchase Agreement (June 26, 2025) and completed a SEBI-mandated Open Offer on January 5, 2026. The company also diversified into the telecommunications sector, with revenue primarily coming from fibre services. No dividend has been recommended. Shareholders will vote on adopting the financial statements, re-appointing Managing Director Mr. Gaurav Goyal (who retires by rotation), and appointing M/s Agarwal & Saxena as new statutory auditors for five years, replacing M/s ANSK & Associates who expressed unwillingness to continue.
For shareholders, this AGM reflects a clear operational turnaround driven by new management and business diversification into telecom. The auditor change is a routine governance matter, but the re-appointment of Mr. Gaurav Goyal (holding 56.13% stake) is procedural since he retires by rotation. The decision to skip dividends suggests the company is retaining earnings to fund growth, which may be viewed positively given the early turnaround stage.