Popular Foundations Ltd

Popular Foundations Ltd has announced an Extraordinary General Meeting (EGM) to be held on June 20, 2026, via video conferencing. The agenda includes the appointment of Ms. Umaa Sharvani as an Independent Director for a 5-year term and the re-appointment of Mr. A S Venkatesh as the Managing Director for a 3-year term with a salary of ₹7,50,000 per month plus performance allowance.

The Secretarial Audit Report for Popular Foundations Limited for the financial year ended March 31, 2026, confirms the company's compliance with applicable statutory provisions and adherence to good corporate practices. The audit covered various laws including the Companies Act, SEBI regulations, and labor laws. It also noted that the Board of Directors is properly constituted with a balance of Executive, Non-Executive, and Independent Directors. The report explicitly states that compliance with financial laws was not reviewed, as it falls under the purview of statutory financial and tax auditors.

Popular Foundations Limited confirmed no deviations or variations in the utilization of its Initial Public Offer (IPO) proceeds for the half-year ended March 31, 2026. The company raised ₹1986.90 Lakhs through its IPO on September 20, 2024. The funds were utilized as disclosed in the offer document, with ₹494 Lakhs for debt prepayment, ₹1185 Lakhs for working capital requirements, ₹108.21 Lakhs for general corporate purposes, and ₹198.69 Lakhs for issue expenses. The statement, confirming full utilization without deviation, was reviewed by the Audit Committee and taken on record by the Board.

Popular Foundations Ltd approved the audited financial results for the year ended March 31, 2026. The Board also took note of the re-appointment of the Managing Director and Whole-Time Director, subject to shareholder approval. An Extra-ordinary General Meeting (EGM) is scheduled for June 20, 2026, and the Annual General Meeting (AGM) on September 22, 2026, both via video conferencing. Revenue from Operations stood at ₹6,178.59 lakhs for FY26.

Popular Foundations Ltd has informed BSE that its Board of Directors will convene a meeting on May 27, 2026. The primary agenda for this meeting is to consider and approve the Audited Financial Results for the financial year ended March 31, 2026. This announcement is made in compliance with Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Popular Foundations Ltd has announced that the trading window for dealing in securities of the company will be closed from 01st April 2026. This closure is in accordance with the SEBI (Prohibition of Insider Trading) Regulations, 2015. The closure will restrict all designated insiders from buying or selling shares of the company until 48 hours after the declaration of Audited financial results for the year ended 31st March 2026. The date of the Board meeting for considering these results will be intimated in due course.

Popular Foundations Ltd has adopted a Dividend Distribution Policy after approval from the Board of Directors. The policy, in compliance with Regulation 43A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2018, outlines the factors considered for dividend distribution, including financial performance, liquidity position, market conditions, working capital, acquisition plans, regulatory requirements, and general economic conditions. The undistributed profits will be utilized for future business growth, expansion, and strategic plans. The policy is applicable for interim and final dividends and will remain in force until otherwise decided by the Board. Any changes to the policy will be made as deemed appropriate from time to time.

Popular Foundations Ltd has announced the resignation of Independent Director Mr. D H Gopalakrishnan due to personal reasons. The company has also appointed Ms. Umaa Sharvani as an Additional Director (Independent) for a term of five years and Mr. N Chellappa as the Chief Financial Officer. The Audit Committee, Nomination and Remuneration committee, and Stakeholders Relationship Committee have been re-constituted consequent to these changes.

Popular Foundations Ltd announced the outcomes of its board meeting held on 23.03.2026. The meeting was marked by the resignation of Independent Director Mr. D H Gopalakrishnan due to personal reasons. The board approved his resignation and thanked him for his contributions. The board also appointed Ms. Umaa Sharvani as an Additional Director (Independent) for a term of five years. Furthermore, Mr. N Chellappa was appointed as the Chief Financial Officer of the company. The board also re-constituted the Audit Committee, Nomination and Remuneration committee, and Stakeholders Relationship Committee consequent to the resignation of Mr. Gopalakrishnan and appointment of Ms. Sharvani.

Popular Foundations Ltd has announced that it has received a new order from Eversendai Construction Private Limited worth Rs. 13.51 Crores. The order is for the construction of a Service Block at DLF Downtown, Taramani. The order is domestic and is expected to be executed within 10 months from the date of the work order.