Amalgamated Electricity Company Ltd (501622)
Latest quarterly results (Q4 FY26)
In its latest reported quarter, Q4 FY26, Amalgamated Electricity's revenue was ₹0.0 Cr, and net profit ₹-0.1 Cr (a bigger loss than a year earlier).
| Q4 FY26 (₹ Cr) | Value | YoY vs Q4 FY25 | QoQ |
|---|---|---|---|
| Revenue | ₹0.0 | — | — |
| Operating profit | ₹-0.1 | loss widened | loss narrowed |
| Net profit | ₹-0.1 | loss widened | loss narrowed |
| EPS (₹) | -0.29 | loss widened | loss narrowed |
📢 Recent Corporate Announcements
The Board of Amalgamated Electricity Company approved a massive preferential issue of up to 130 crore equity shares at ₹5 each, aggregating up to ₹650 crore to non-promoter investors. This fundraise compares to its current market cap of approximately ₹38 crore and a zero-revenue base. Alongside this, the board approved altering the company's Memorandum of Association to enter artificial intelligence, machine learning, and IT infrastructure management services. Additionally, Chief Financial Officer Mangesh Narayan Shirodkar resigned, and a postal ballot has been initiated with e-voting concluding on October 31, 2026.
- Proposed preferential issue of up to 130,00,00,000 equity shares at ₹5 per share, raising up to ₹650,00,00,000
- Fundraise size of ₹650 crore represents over 17x the company's current market cap of ₹38 crore
- Substantial equity dilution via shares offered at ₹5 per share against a market price of ₹137.2
- Object clause amendment to enter artificial intelligence, applied AI development, and IT infrastructure services
- Postal ballot scheduled with remote e-voting closing on October 31, 2026, alongside resignation of CFO Mangesh Narayan Shirodkar
The Board of Amalgamated Electricity Company approved a massive preferential equity issuance of up to 130,00,00,000 shares at ₹5 each, aggregating up to ₹650 crore to non-promoter investors. This planned fundraise is extraordinarily large compared to the company's current market cap of ₹38 crore and negligible TTM revenue. Additionally, the company approved altering its Object Clause to enter artificial intelligence, IT services, and healthcare sectors. CFO Mangesh Shirodkar also resigned with immediate effect on September 30, 2026, and shareholder approval is being sought via postal ballot ending October 31, 2026.
- Proposed preferential issue of up to 130,00,00,000 equity shares at ₹5 per share aggregating up to ₹650,00,00,000
- Fundraise represents ~17.1x the company's current market cap of ₹38 crore
- Approval to alter Object Clause to include AI, IT infrastructure management, and technology-enabled healthcare
- Chief Financial Officer Mangesh Shirodkar resigned with immediate effect on September 30, 2026
- Postal ballot remote e-voting ends on October 31, 2026, with Ms. Anushree Keshav appointed scrutinizer
Amalgamated Electricity Company approved a massive preferential equity issue of up to 130 crore shares at Rs 5 per share (at par), aggregating up to Rs 650 crore to non-promoter investors. This planned fundraise is extraordinarily large compared to the company's existing market cap of Rs 38 crore and zero TTM revenue. In addition, the board approved an overhaul of its MOA object clauses to enter artificial intelligence development, IT infrastructure, and integrated healthcare. Chief Financial Officer Mangesh Narayan Shirodkar has also resigned.
- Proposed preferential issue of up to 130,00,00,000 equity shares at Rs 5 per share, raising up to Rs 650,00,00,000
- Allotment is directed entirely to non-promoter entities including 2 QIBs (Almontroz Trust, Uni Growth) and 4 LLPs
- Company is amending object clause to add artificial intelligence, IT services, and healthcare businesses
- Postal ballot e-voting for shareholder approval concludes on October 31, 2026
- Resignation of Chief Financial Officer Mangesh Narayan Shirodkar approved
Amalgamated Electricity Company Ltd has announced the immediate resignation of its Chief Financial Officer (Key Managerial Personnel), Mr. Mangesh Shirodkar, effective close of business hours on September 30, 2026. Mr. Shirodkar cited personal and professional reasons for his departure. The company reported zero revenue and a net loss of Rs 0.34 crore in FY26, with a negative net worth of Rs 1 crore. No successor has been announced yet.
- CFO Mangesh Shirodkar resigned with immediate effect from close of business hours on September 30, 2026
- Resignation letter received by the company after business hours on September 30, 2026
- Departure attributed to personal and professional reasons
- Filing submitted under Regulation 30 on October 1, 2026
Amalgamated Electricity Company has scheduled a board meeting for October 1, 2026, to consider a preferential issue of equity shares on a private placement basis. The board will also evaluate changing the company's Object Clause and approving a postal ballot notice for shareholder approval. The company currently generates zero revenue with a negative net worth of -₹1 Cr and a market cap of ₹38 Cr, making capital infusion and business realignment critical.
- Board meeting scheduled on October 1, 2026 at 1.30 p.m.
- Agenda includes preferential issue of equity shares on private placement basis to specified allottees
- Company to consider and approve change in its Object Clause
- Postal ballot notice and scrutinizer appointment to be taken up for shareholder approval
Shareholders of Amalgamated Electricity Company approved the appointment of Ms. Aradhana Kurup as Managing Director for a 5-year term starting August 21, 2026, without any remuneration. Additionally, M/s. Sharvari Kulkarni and Associates was appointed as Secretarial Auditor for a 5-year tenure from FY 2026-27 to FY 2030-31. The company currently generates zero revenue with a negative net worth of ₹-1 Cr and an annual loss of ₹-0.34 Cr in FY26. Given the lack of active business operations, the leadership appointment reflects governance continuity rather than an operational turnaround.
- Appointment of Ms. Aradhana Kurup as MD for a term of 5 years effective August 21, 2026
- MD appointment approved by shareholders at the 91st AGM with zero remuneration
- Appointment of M/s. Sharvari Kulkarni and Associates as Secretarial Auditor for 5 years (FY27 to FY31)
- Ms. Kurup brings over 27 years of experience in technology consulting and digital transformation
Amalgamated Electricity Company Ltd has appointed Vatsaraj & Co. (FRN: 111327W) as its Statutory Auditors under Section 139(8) of the Companies Act, 2013, subject to shareholder approval. The Board approved the appointment and a revised Notice for the upcoming Annual General Meeting at its meeting held on August 29, 2026. The company remains financially inactive with Rs 0 Cr in TTM revenue and a net loss of Rs 0.34 Cr in FY26.
- Appointment of Vatsaraj & Co. (Firm Registration No: 111327W) approved as Statutory Auditors
- Appointment made pursuant to Section 139(8) of the Companies Act, 2013 on August 29, 2026
- Board approved revised AGM Notice incorporating the statutory auditor appointment agenda
- Board meeting commenced at 4:15 PM and concluded at 4:30 PM on August 29, 2026
Amalgamated Electricity Company Ltd announced that its Board of Directors met on August 29, 2026, to approve the appointment of Vatsaraj & Co. (Firm Registration No: 111327W) as Statutory Auditors under Section 139(8) of the Companies Act, 2013. The appointment is subject to shareholder approval at the forthcoming Annual General Meeting (AGM). The Board also approved a revised AGM notice incorporating this agenda item, with no changes to the AGM date, time, or venue.
- Appointment of Vatsaraj & Co. (FRN: 111327W) as Statutory Auditors approved on August 29, 2026
- Appointment made pursuant to Section 139(8) of the Companies Act, 2013, subject to shareholder approval
- Revised Notice of the ensuing AGM approved to incorporate the auditor appointment agenda
- Board meeting commenced at 4:15 PM and concluded at 4:30 PM on August 29, 2026
Amalgamated Electricity Company Ltd has scheduled a Board of Directors meeting on Saturday, August 29, 2026, at 4:00 PM. The board will consider the appointment of a Statutory Auditor, subject to necessary approvals under the Companies Act, 2013. Additionally, the board will review and approve a revised Notice of the ensuing Annual General Meeting (AGM) to incorporate this agenda. The company currently has zero operating revenue and a market capitalization of ₹39 Cr.
- Board meeting scheduled on Saturday, 29 August 2026 at 4:00 PM through VC
- To consider and approve the appointment of Statutory Auditor
- To consider and approve revised Notice of the ensuing AGM
- Filing submitted to BSE on 26-08-2026
Amalgamated Electricity Company's Board has approved a Revival-cum-Restructuring Plan along with authorization to execute definitive agreements. The Board also approved an enabling limit for loans, investments, and guarantees under Section 186 up to ₹700 Crores, which dwarfs the company's current market cap of ₹39 Crores. Additionally, Ms. Aradhana Kurup has been appointed as Managing Director for a 5-year term, subject to shareholder approval at the upcoming AGM on September 25, 2026. This comes as the company currently generates zero revenue with negative net worth of ₹-1 Crore.
- Approved a Revival/Revival-cum-Restructuring Plan and authorization of Definitive Agreements.
- Approved Section 186 limits for loans/investments/guarantees up to ₹700 Crores (~17.9x current market cap of ₹39 Cr).
- Appointed Ms. Aradhana Kurup as Managing Director for a 5-year tenure effective August 21, 2026.
- Scheduled the 91st Annual General Meeting for September 25, 2026.
Amalgamated Electricity Company approved a Revival/Revival-cum-Restructuring plan along with the authorization to execute definitive agreements. The Board also appointed Ms. Aradhana Kurup as Managing Director for a 5-year term, subject to shareholder approval. Additionally, the company proposed an enabling limit of up to Rs 700 Crore for loans, investments, and guarantees under Section 186, which is substantial relative to its current market capitalization of Rs 39 Crore. The 91st Annual General Meeting is scheduled for September 25, 2026.
- Approved a Revival/Revival-cum-Restructuring Plan and authorized execution of definitive agreements
- Appointed Ms. Aradhana Kurup as Managing Director for a tenure of 5 years
- Approved enabling limit of up to Rs 700 Crores under Section 186 for loans, investments, and guarantees
- Scheduled 91st AGM for September 25, 2026 via VC/OAVM
Amalgamated Electricity Company has scheduled a Board of Directors meeting on August 21, 2026, to review and approve a Revival/Revival-cum-Restructuring Plan along with the execution of definitive agreements. The Board will also evaluate approving loans, investments, and guarantees under Section 186 up to an aggregate limit of Rs 700 Crore. Additionally, the appointment of Ms. Aradhana Kurup as Managing Director and the notice for the 91st Annual General Meeting will be taken up.
- Board meeting scheduled for August 21, 2026, to consider a Revival/Revival-cum-Restructuring Plan.
- Proposal to authorise loan, investment, guarantee, or security limits up to Rs 700 Crores under Section 186.
- Proposal to authorise execution of definitive agreements for the restructuring transaction.
- Appointment of Director Ms. Aradhana Kurup as Managing Director subject to shareholder approval.
- Draft notice approval for convening the 91st Annual General Meeting.
Amalgamated Electricity Company reported a net loss of Rs 20.69 Lakhs for the quarter ended June 30, 2026, a significant increase from the Rs 5.35 Lakhs loss in the year-ago period. The company reported zero revenue from operations, with total income consisting only of Rs 0.51 Lakhs in other income. Crucially, the statutory auditor has issued a 'Going Concern' warning, noting that total liabilities exceed total assets by Rs 93.47 Lakhs. The company remains technically insolvent with a negative net worth and no active business operations generating revenue.
- Revenue from operations remained at Rs 0.00 for the quarter ended June 30, 2026.
- Net loss widened to Rs 20.69 Lakhs compared to a loss of Rs 5.35 Lakhs in Q1 FY26.
- Auditor reported that total liabilities exceed total assets by Rs 93.47 Lakhs.
- Other expenses surged to Rs 17.27 Lakhs from Rs 5.35 Lakhs in the corresponding previous quarter.
- Loss per share (EPS) for the quarter stood at -0.75 vs -0.19 YoY.
Amalgamated Electricity Company reported zero revenue from operations for the quarter ended June 30, 2026, continuing its trend of no operational income. The company posted a net loss of Rs 20.69 Lakhs, a significant increase from the Rs 5.35 Lakhs loss in the year-ago period. Crucially, the statutory auditor has issued a 'Going Concern' warning, noting that total liabilities exceed total assets by Rs 93.47 Lakhs. The company remains dependent on future operations and financial support to survive, given its negative net worth of Rs 1 Cr.
- Revenue from operations remained at Rs 0 for the quarter ended June 30, 2026.
- Net loss widened to Rs 20.69 Lakhs compared to a loss of Rs 5.35 Lakhs in Q1 FY26.
- Auditor reported that total liabilities exceed total assets by Rs 93.47 Lakhs.
- Other expenses surged to Rs 17.27 Lakhs from Rs 5.35 Lakhs YoY.
- Earnings Per Share (EPS) stood at negative Rs 0.75 for the quarter.
Amalgamated Electricity Company Ltd has scheduled a board meeting for August 10, 2026, to approve un-audited standalone financial results for the quarter ended June 30, 2026. The company is currently a micro-cap entity with a market capitalization of Rs 40 Cr, despite reporting zero revenue for the last four consecutive quarters. The financial position remains weak with a negative net worth of Rs -1 Cr and a TTM loss of Rs 0.33 Cr. Investors should note the significant stock price appreciation of 174.2% over the last three months despite these stagnant fundamentals.
- Board meeting scheduled for August 10, 2026, at 1:30 p.m. to approve Q1 FY27 results
- Trading window has been closed since July 1, 2026, as per SEBI PIT regulations
- Company reported Rs 0.0 Cr revenue for the entire FY26 and the preceding four quarters
- Net worth stands at Rs -1 Cr with a Debt-to-Equity ratio of -0.21
- Promoter holding marginally decreased to 23.52% in June 2026 from 23.64% in March 2026
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