Shree Ram Proteins Limited has informed the Exchange regarding Corrigendum to Notice of Annual General Meeting
Awaiting price reaction for this filing.
Shree Ram Proteins has issued a corrigendum to its 17th AGM notice (scheduled for March 5, 2026 via video conferencing), fixing resolutions for re-appointment of directors Mr. Ravindra Kumar Singh and Mr. Piyush Vasoya who retire by rotation. It has also added the missing Secretarial Audit Report for FY 2024-25 (pages 71-91) to the Annual Report. The underlying Annual Report 2024-25 reveals deeply troubling financials: revenue from operations fell to zero from Rs. 16,268 lakhs in the previous year (a 100% drop), while losses after tax widened sharply to Rs. (2,107.51) lakhs from Rs. (958.48) lakhs. No dividend was declared. The report also discloses the company was earlier admitted into CIRP under IBC in January 2023 (though the order was later set aside), Rs. 630 lakhs of non-compliant outstanding deposits, and unpaid statutory dues including income tax of over Rs. 287 lakhs.
This is a major red flag for shareholders — zero revenue, deepening losses, no dividend, past insolvency proceedings, and tax defaults point to serious financial distress. The board has flagged plans for a rights issue (up to Rs. 49 crore) and preferential allotment (up to 5 crore shares), which could significantly dilute existing shareholders if approved.