Summary of AGM proceedings
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Shanti Guru Industries (formerly RCL Retail) held its 15th AGM on September 26, 2025 via video conferencing, lasting about 35 minutes. The Chairman said the retail industry is struggling on margins and announced a strategic shift — the company will set up a food manufacturing facility in Krishnagiri district, Tamil Nadu, to produce soya chunks and vermicelli. To fund this expansion, it plans to sell its 150-cent freehold land at Madhavaram. Six resolutions were put to e-vote, including adoption of FY25 financial statements (no audit qualifications), re-appointment of statutory auditors M/s Venkat and Rangaa LLP for five years (FY26–FY30), regularization of two directors, and approval for the Madhavaram land sale. Director Ratanchand Lodha retired by rotation and did not seek re-election.
The pivot from a struggling retail business to food manufacturing could open a new revenue stream, but selling land to fund the factory suggests the company is stretched on cash. Investors should track the Krishnagiri facility's setup progress and the eventual sale price of the Madhavaram land, as these will shape near-term finances and the future business mix.