Governance Negative

2026-08-27 19:11

CRITICAL RED FLAG DETECTED

- The Board Meeting held on August 27, 2026, approved the appointment of M/s. BNK & Associates as Statutory Auditors to fill the casual vacancy caused by the resignation of M/s. R B Jain & Associates, effective August 27, 2026, and for a five-year term until the 2031 AGM. - Regularized Mr. Krishnan as Additional Director (Non-Executive Independent Director). - Approved change in designation of Mr. Amarjit Kumar Shrivastav from Non-executive Independent Director to Non-executive Non-Independent Director. - The 33rd Annual General Meeting will be held on Monday, September 28, 2026, via Video Conferencing. - E-Voting will be available from September 24, 2026, to September 27, 2026, with a cut-off date of September 18, 2026.

Governance Negative

2026-08-27 19:03

CRITICAL RED FLAG DETECTED

- Board Meeting held on August 27, 2026. - Approved the appointment of M/s. BNK & Associates as Statutory Auditors to fill the casual vacancy caused by the resignation of M/s. R B Jain & Associates. - Approved the regularisation of Mr. Krishnan as Additional Director (Non-Executive Independent Director). - Approved the change in designation of Mr. Amarjit Kumar Shrivastav from Non-executive Independent Director to Non-executive Non-Independent Director. - Convened the 33rd Annual General Meeting (AGM) on September 28, 2026, with E-Voting from September 24-27, 2026.

Governance Negative

2026-08-27 18:59

CRITICAL RED FLAG DETECTED

- Outcome of Board Meeting held on August 27, 2026. - Approved the appointment of M/s. BNK & Associates as Statutory Auditors to fill a casual vacancy caused by the resignation of M/s. R B Jain & Associates. - Approved the regularisation of Mr. Krishnan as an Additional Director. - Approved the change in designation of Mr. Amarjit Kumar Shrivastav. - The 33rd Annual General Meeting is scheduled for Monday, September 28, 2026, with e-voting from September 24-27, 2026.

Financials Negative

2026-08-17 19:37

CRITICAL RED FLAG DETECTED

- Q1 FY27 Consolidated Revenue ₹7,38,489 Lakhs vs ₹3,55,007 Lakhs (▲108% YoY) - EBITDA ₹19,951 Lakhs vs ₹6,895 Lakhs (▲189% YoY) - PAT ₹19,939 Lakhs vs ₹6,871 Lakhs (▲190% YoY) - EBITDA Margin 2.70% vs 1.94% (▲76bps) - The company submitted its Consolidated Financial Results for the quarter ended June 30, 2026, which were inadvertently omitted from the original Board Meeting outcome due to an oversight and lack of Company Secretary and Compliance Officer. - Auditors highlighted non-compliance with timely submission of Q4 FY26 financial results, non-payment/provision for GST, and lack of key personnel (Compliance Officer/accounting staff).

Governance Negative

2026-08-15 15:11

CRITICAL RED FLAG DETECTED

- Statutory Auditors, M/s R. B. Jain & Associates, resigned effective August 14, 2026. - Company failed to timely submit Q4 FY26 financial results and did not pay/provide for GST during the review period. - Q1 FY27 Standalone PAT ₹0.22 Lakhs vs Loss of ₹45.52 Lakhs YoY.

Financials Negative

2026-08-14 22:09

CRITICAL RED FLAG DETECTED

- Q1 FY27 Standalone Total Income ₹7.03 Lakhs vs ₹0.91 Lakhs (▲672.53% YoY) - EBITDA ₹0.24 Lakhs for Q1 FY27 vs ₹-44.13 Lakhs for Q1 FY26 (Turned positive YoY) - PAT ₹0.22 Lakhs for Q1 FY27 vs ₹-45.52 Lakhs for Q1 FY26 (Turned positive YoY) - EBITDA Margin 3.41% for Q1 FY27 (Turned positive from negative in Q1 FY26) - Statutory Auditor, M/s R. B. Jain & Associates, resigned effective August 14, 2026, due to preoccupation in other assignments. - The company failed to timely submit financial results for Q4 FY26 (ended March 31, 2026) and has neither paid nor provided for GST during the review period. - The company recently exited the Corporate Insolvency Resolution Process (CIRP).

Financials Negative

2026-08-14 21:49

CRITICAL RED FLAG DETECTED

- Q1 FY27 Standalone Total Income ₹7.03 Lakhs vs ₹0.91 Lakhs (▲672.53% YoY) - Q1 FY27 Standalone EBITDA ₹0.24 Lakhs vs ₹(44.12) Lakhs (Significant improvement from loss to profit) - Q1 FY27 Standalone PAT ₹0.22 Lakhs vs ₹(45.52) Lakhs (Significant improvement from loss to profit) - EBITDA Margin 3.41% vs -4848.35% (Significant margin expansion from deep negative to positive due to turnaround) - M/s R. B. Jain & Associates resigned as Statutory Auditor effective August 14, 2026, citing preoccupation in other assignments. - Company failed to timely submit financial results for the quarter ended March 31, 2026, a non-compliance with SEBI regulations. - Company has neither paid nor provided for GST during the review period.

Governance Negative

2026-08-12 13:26

CRITICAL RED FLAG DETECTED

- Maxgrow India Limited's Board Meeting on August 10, 2026, approved standalone and consolidated audited financial results for Q4 & FY26. - Mr. Rakesh Guda resigned as Non-Executive Director, effective August 10, 2026. - Ms. Pooja Pravin Keer resigned as Independent Director, effective August 10, 2026.

Financials Positive

2026-08-12 13:09

- Q4 FY26 Consolidated Revenue ₹772.16 Cr vs ₹688.95 Cr (▲12.1% YoY) - EBITDA ₹150.18 Cr vs ₹115.30 Cr (▲30.3% YoY) - PAT ₹97.46 Cr vs ₹74.52 Cr (▲30.8% YoY) - EBITDA Margin 19.5% vs 16.7% (▲280bps)

Governance Neutral

2026-08-11 17:44

- Board meeting scheduled on August 14, 2026 - To consider and approve standalone and consolidated financial results for the quarter ended June 30, 2026 - Trading window remains closed until 48 hours after results are public

Financials Negative

2026-08-11 12:52

CRITICAL RED FLAG DETECTED

- FY26 Consolidated Revenue ₹22,426.35 Cr vs ₹2,757.72 Cr (▲714.65% YoY) - EBITDA ₹552.46 Cr vs ₹39.03 Cr (▲1315.65% YoY) - PAT ₹450.28 Cr vs ₹29.63 Cr (▲1419.68% YoY) - EBITDA Margin 2.46% vs 1.41% (▲105bps) - Auditor issued a qualified opinion on both standalone financial statements (due to insufficient evidence for investment valuation) and internal financial controls (due to lack of internal auditor and material weakness in controls). - Company Secretary position remained vacant for part of the year, and accounting software lacked an effective audit trail. - Company incurred stock exchange penalties for listing non-compliances and has ₹6.14 crore in overdue receivables.

Governance Negative

2026-08-10 21:23

CRITICAL RED FLAG DETECTED

- Board Meeting held on August 10, 2026. - Approved standalone and consolidated audited financial results for the quarter and year ended March 31, 2026. - Resignation of Non-Executive Director, Mr. Rakesh Guda, effective August 10, 2026. - Resignation of Independent Director, Ms. Pooja Pravin Keer, effective August 10, 2026. - Both directors cited pursuing other professional opportunities as the reason for resignation, confirming no other material reasons.

Financials Negative

2026-08-10 21:18

CRITICAL RED FLAG DETECTED

- Maxgrow India Limited reported Standalone Financial Results for the year ended March 31, 2026. - Total Revenue: ₹0.91 Lakhs for FY26 compared to ₹0 Lakhs for FY25. - EBITDA Loss: ₹(109.76) Lakhs for FY26, a significant reduction from ₹(2,539.67) Lakhs for FY25. - Net Loss (PAT): ₹(117.60) Lakhs for FY26, a significant reduction from ₹(2,541.98) Lakhs for FY25. - The Board approved the resignations of Non-Executive Director Mr. Rakesh Guda and Independent Director Ms. Pooja Pravin Keer. - Auditors issued a qualified opinion on investments in Optionally Convertible Debentures due to lack of independent valuation/due diligence. - Auditors issued a qualified opinion on internal financial controls, citing a material weakness due to the absence of an internal auditor and a formal internal audit function. - The company was penalized by stock exchanges for listing-related non-compliances and noted issues with accounting software audit trails.

Governance Neutral

2026-08-05 21:12

- Board Meeting on August 10, 2026, to consider and approve standalone and consolidated audited financial results for the quarter and year ended March 31, 2026. - The trading window remains closed for designated persons until 48 hours after the results are made public.

Governance Neutral

2026-07-31 18:00

- Board Meeting scheduled for July 31, 2026, to approve Q4 FY26 financial results has been cancelled. - The cancellation is due to unavoidable administrative reasons. - A revised date for the meeting will be intimated separately.

Ownership Positive

2026-07-31 10:18

- Metal Industrial Pte. Limited, a promoter of Maxgrow India Limited, transferred 11,25,513 equity shares (2.82%) to Ms. Sadhana Uday Chourasia, a public shareholder. - This off-market transfer facilitates compliance with Minimum Public Shareholding (MPS) requirements. - Promoter shareholding reduced from 92.82% to 90.00%, and public shareholding increased from 7.18% to 10.00%.

Ownership Positive

2026-07-30 15:00

- Maxgrow India Limited's promoter, Metal Industrial Pte. Limited, transferred 11,25,513 equity shares (2.82%) off-market to Ms. Sadhana Uday Chourasia, a public shareholder, on July 28, 2026. - This transfer was undertaken to comply with Minimum Public Shareholding (MPS) requirements. - Consequently, the aggregate promoter shareholding reduced from 92.82% to 90.00%, and public shareholding increased from 7.18% to 10.00%.

Governance Neutral

2026-07-28 17:42

- Maxgrow India Limited withdrew the Board Meeting intimation for Unaudited Financial Results for the quarter ended June 30, 2026. - The forthcoming Board Meeting will now solely approve Audited Financial Results for the financial year ended March 31, 2026. - Unaudited results for the quarter ended June 30, 2026, will be considered at a separately convened meeting.

Governance Neutral

2026-07-28 15:33

- Board Meeting to be held on Friday, July 31, 2026. - Agenda includes considering and approving standalone and consolidated financial results for the quarter and year ended March 31, 2026, and for the quarter ended June 30, 2026. - Trading window for designated persons remains closed.

Governance Neutral

2026-07-28 15:33

- Board meeting on July 31, 2026, to approve standalone and consolidated financial results for the quarter and year ended March 31, 2026, and for the quarter ended June 30, 2026. - Trading window will remain closed until 48 hours after the results are made public.

Governance Neutral

2026-07-28 15:23

- Board Meeting scheduled for July 31, 2026. - To consider and approve standalone and consolidated financial results for the quarter and year ended March 31, 2026, and for the quarter ended June 30, 2026.

Governance Neutral

2026-07-24 16:36

- The Board of Directors of Maxgrow India Limited, at its meeting on July 24, 2026, approved the appointment of Mr. Santosh G. Doke as the Chief Financial Officer of the Company. - The appointment is effective from July 24, 2026. - Mr. Doke has 14 years of experience in Accounts and Finance.

Governance Neutral

2026-07-24 16:34

- Maxgrow India Limited's Board of Directors appointed Mr. Santosh G. Doke as the Chief Financial Officer (CFO) with effect from July 24, 2026. - The appointment was approved at the Board Meeting held on July 24, 2026.

Governance Positive

2026-07-01 15:08

- Board of Directors meeting held on June 29, 2026. - Approved the appointment of M/s. V. G. Kamat & Associates as Internal Auditor for the Financial Year 2026-27. - Approved the appointment of Dr. M Krishnan as an Additional Non-Executive Independent Director for a term of 5 years, effective June 29, 2026. Dr. Krishnan has 37 years of banking experience.

Routine Neutral

2026-06-29 18:11

- Intimation of trading window closure from July 01, 2026, as per SEBI (PIT) Regulations, 2015. - Reopens 48 hours after results for quarter ended June 30, 2026, and year ended March 31, 2206, are made public.

Governance Positive

2026-06-29 18:07

- Board meeting held on June 29, 2026. - Approved the appointment of M/s. V. G. Kamat & Associates as Internal Auditor for FY 2026-27. - Approved the appointment of Dr. M Krishnan as an Additional Non-Executive Independent Director for a period of 5 years, effective June 29, 2026. Dr. Krishnan has 37 years of experience in banking.

Governance Positive

2026-06-29 18:05

- Board approved appointment of M/s. V. G. Kamat & Associates as Internal Auditor for the financial year 2026-27. - Dr. M Krishnan appointed as an Additional Non-Executive Independent Director for a period of 5 years, effective June 29, 2026, bringing 37 years of banking experience.

Financials Negative

2026-06-19 13:28

CRITICAL RED FLAG DETECTED

- The company requested a further extension for submitting Audited Financial Results for Q4 and FY ended March 31, 2026. - The delay is due to pending financial statements and audit-related matters for earlier and current periods. - New submission deadline requested is June 30, 2026. - The trading window remains closed until 48 hours after results declaration.

Business Update Negative

2026-06-04 18:29

CRITICAL RED FLAG DETECTED

- Maxgrow India Limited announced a delay in filing its audited financial results for Q4 and FY ended March 31, 2026. - The delay is attributed to ongoing finalization of pending financial statements and audit-related matters from earlier and current financial periods. - The company expects to submit results by June 15, 2026. - The trading window for designated persons remains closed until 48 hours after results declaration.

Governance Positive

2026-06-02 19:42

- The Annual General Meeting (AGM) of Maxgrow India Limited was held on June 1st, 2026. - All resolutions placed before the members at the AGM, including the adoption of financial statements for various years, appointment of Statutory Auditors, Secretarial Auditors, and Ms. Pooja Pravin Keer as an Independent Director, were passed with 100% votes in favour.

Governance Positive

2026-06-01 17:19

Maxgrow India Limited held its AGM on June 1, 2026, to regularize pending statutory compliances following its Corporate Insolvency Resolution Process (CIRP) and NCLT approval on Dec 6, 2023. The meeting adopted audited financial statements for FY21-FY25 and approved the appointment of M/s. R. B. Jain & Associates as Statutory Auditors, Ms. Pooja Pravin Keer, Mr. Laxman Medudula, Mr. Amarjit Kumar Shrivastav as Independent Directors, Mr. Guda Rakesh as a Non-Executive Director, and Mr. Shivkumar Ramsagar Pasi as Managing Director.

Governance Negative

2026-05-30 16:50

CRITICAL RED FLAG DETECTED

Mr. Akshay Kene has resigned from the position of Company Secretary and Compliance Officer (Key Managerial Personnel - KMP) of MAXGROW INDIA LIMITED due to personal reasons, effective from the closing of business hours on May 30, 2026. The company has acknowledged the resignation.

Governance Negative

2026-05-26 16:10

CRITICAL RED FLAG DETECTED

Maxgrow India Limited filed its Annual Secretarial Compliance Report for FY 2025-26, highlighting numerous non-compliances with SEBI LODR Regulations. These include significant delays in submitting quarterly financial results for Q4 FY25, Q2 & Q3 FY26, shareholding patterns for Q1 & Q3 FY26, and corporate governance reports for Q4 FY25, Q1, Q2 & Q3 FY26. The company also failed to disclose related party transactions and submit the annual secretarial compliance report for FY 2024-25. BSE has levied fines, some of which remain unpaid (e.g., ₹2,30,000 and ₹1,28,000). The delays are attributed to the suspension of trading by BSE and the company's recent exit from the Corporate Insolvency Resolution Process (CIRP).

Governance Negative

2026-05-26 16:03

CRITICAL RED FLAG DETECTED

Maxgrow India Limited's Annual Secretarial Compliance Report for FY ended March 31, 2025, reveals significant non-compliance with SEBI LODR Regulations. The company delayed or failed to file quarterly corporate governance reports, shareholding patterns, financial results, related party transaction disclosures, and depository participant reports for various quarters in 2024. These issues are primarily attributed to the suspension of trading of the company's securities by BSE Limited and ongoing Corporate Insolvency Resolution Process (CIRP) proceedings during the review period.

Governance Neutral

2026-05-25 17:26

MAXGROW INDIA LIMITED announced the postponement of its Board Meeting, originally scheduled for May 25, 2026, to Friday, May 29, 2026. The meeting, postponed due to unavoidable circumstances, is primarily to consider and approve the audited Standalone & Consolidated Financial Results along with the Audit Report for the year ended March 31, 2026.

Governance Neutral

2026-05-20 17:47

Maxgrow India Limited announced that its Board of Directors will meet on Monday, May 25, 2026, to consider and approve the audited Standalone & Consolidated Financial Results along with the Audit Report for the year ended March 31, 2026.

Governance Negative

2026-05-06 16:08

CRITICAL RED FLAG DETECTED

Maxgrow India Limited submitted its Annual Report for FY 2024-25 and announced an Annual General Meeting (AGM) on June 01, 2026. The company recently completed its Corporate Insolvency Resolution Process (CIRP), initiated on June 04, 2021. A resolution plan was approved by NCLT on December 06, 2023, and the Board of Directors was reconstituted on September 19, 2024. The AGM will approve financial statements for FY2020-21 through FY2024-25 to regularize past compliances.

Governance Positive

2026-05-05 18:46

CRITICAL RED FLAG DETECTED

Maxgrow India Limited submitted its Annual Report for FY 2023-24. The company successfully completed its Corporate Insolvency Resolution Process (CIRP) with a resolution plan approved by NCLT on December 6, 2023, and implemented effectively from December 20, 2024. The erstwhile Board of Directors was suspended during the process, and a reconstituted Board was established on September 19, 2024. The AGM for FY23-24 could not be convened due to CIRP.

Business Update Positive

2026-05-05 18:33

CRITICAL RED FLAG DETECTED

Maxgrow India Limited submitted its Annual Report for FY 2022-23, acknowledging the inability to convene the AGM due to its Corporate Insolvency Resolution Process (CIRP). The company successfully implemented a resolution plan, initially approved by NCLT on December 06, 2023. Following this, the Board of Directors was reconstituted, effective December 20, 2024, restoring the management powers previously vested in a Resolution Professional after the CIRP initiation on June 04, 2021.

Business Update Negative

2026-05-05 18:27

CRITICAL RED FLAG DETECTED

Maxgrow India Limited submitted its Annual Report for FY 2021-22. The company has undergone Corporate Insolvency Resolution Process (CIRP) since June 04, 2021, leading to the appointment of an Interim Resolution Professional (IRP) and the suspension of the Board of Directors' powers. A resolution plan by PP Metallix Limited was approved by the Committee of Creditors on January 24, 2022, and by NCLT on December 06, 2023. A Monitoring Agency was constituted and subsequently dissolved on December 10, 2024, upon which the Board of Directors was re-constituted, effective December 20, 2024. The AGM for FY 2021-22 could not be convened due to the CIRP.

Governance Negative

2026-05-05 18:21

CRITICAL RED FLAG DETECTED

Maxgrow India Limited submitted its Annual Report for FY 2020-21, explaining that its AGM could not be convened due to the company being under Corporate Insolvency Resolution Process (CIRP) since June 04, 2021. During CIRP, the company's board was suspended, and an Interim Resolution Professional was appointed. A resolution plan from PP Metallix Limited was approved by NCLT on December 06, 2023. A Monitoring Agency oversaw the plan's implementation, leading to the reconstitution of the Board of Directors, effective December 20, 2024.

Routine Neutral

2026-05-05 16:59

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Routine Neutral

2026-04-20 15:15

Maxgrow India Limited submitted a Certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018, confirming compliance for the quarter ended March 31, 2026. The Registrar & Share Transfer Agent confirmed proper handling of dematerialisation requests and related processes.

Financials Negative

2026-04-03 18:59

CRITICAL RED FLAG DETECTED

Standalone Revenue nil, EBITDA loss widened from ₹14.92 Lakhs to ₹18.00 Lakhs YoY. PAT loss significantly reduced from ₹2,076.72 Lakhs to ₹20.35 Lakhs (a 99.02% reduction YoY).

Financials Negative

2026-04-03 18:52

CRITICAL RED FLAG DETECTED

Standalone PAT improved by 99% YoY from a loss of ₹2,076.72 Lakhs in Q3 FY25 to a loss of ₹20.35 Lakhs in Q3 FY26. Operating revenue was negligible. However, auditors issued a qualified opinion citing significant non-compliance with statutory records, delayed financial filings for multiple quarters (June 30, Sep 30, Dec 31, 2025), and other governance requirements, with potential penal consequences.

Financials Positive

2026-04-03 18:44

CRITICAL RED FLAG DETECTED

Standalone loss after tax reduced significantly to ₹20.35 Lakhs for Q3 FY26 compared to ₹2,076.72 Lakhs for Q3 FY25. Standalone EBITDA loss reduced to ₹18.00 Lakhs from ₹2,075.53 Lakhs YoY. The company reports no revenue from operations.

Financials Negative

2026-04-03 18:19

CRITICAL RED FLAG DETECTED

Standalone EBITDA loss ₹18.00 Lakhs for Q3 FY26 vs ₹2,075.51 Lakhs for Q3 FY25 (99.1% YoY reduction in loss), and PAT loss ₹20.35 Lakhs for Q3 FY26 vs ₹2,076.72 Lakhs for Q3 FY25 (98.9% YoY reduction in loss). Operating Revenue not reported for both quarters.

Financials Negative

2026-04-03 18:14

CRITICAL RED FLAG DETECTED

Standalone Operating Revenue ₹0Lakhs vs ₹0Lakhs (0% YoY). Standalone EBITDA (Loss) ₹18.00Lakhs vs (Loss) ₹2,075.53Lakhs (▲99.13% YoY reduction in loss). Standalone PAT (Loss) ₹20.35Lakhs vs (Loss) ₹2,076.72Lakhs (▲99.02% YoY reduction in loss).

Governance Neutral

2026-03-31 17:26

Maxgrow India Limited issued a corrigendum for its Board Meeting on April 03, 2026. The meeting will approve unaudited financial results for the quarter and nine months ended December 31, 2025, correcting an earlier intimation that incorrectly stated March 31, 2026.

Routine Neutral

2026-03-31 16:36

Maxgrow India Limited announced the closure of its trading window for Designated Persons from April 01, 2026, until 48 hours after the Audited Financial Results for the Quarter and Year ended March 31, 2026, are communicated, as per SEBI PIT Regulations.

Governance Neutral

2026-03-31 14:50

Maxgrow India Limited announced a Board Meeting on April 03, 2026, to consider and approve the Unaudited Standalone & Consolidated Financial Results for the quarter and year ended March 31, 2026.

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MAXGROW INDIA LTD

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