Solvex Edibles Ltd

Solvex Edibles Ltd's material subsidiary, SHREE OILS AND FATS PRIVATE LIMITED, has approved significant changes in its board meeting held on June 26, 2026. These include the conversion of unsecured loans into equity or preference shares, adoption of a new Memorandum & Articles of Association, and alteration of the object clause to include share trading, investment activities, and dealing in securities and bullions. These changes aim to align the subsidiary's business objectives with its strategic expansion plans, subject to regulatory approvals.

Solvex Edibles Ltd has filed a statement detailing the impact of audit qualifications for its financial results for the year ended March 31, 2026. The Board approved the Audited Standalone & Consolidated Financial Results on May 30, 2026, which received a modified (qualified) audit opinion. Key qualifications include the auditors' inability to obtain sufficient evidence regarding the utilization of ₹830.99 Lakhs in IPO proceeds for plant and machinery, including advances to a subsidiary LLP. Additionally, the company did not recognize employee benefit obligations (gratuity, leave encashment) as per AS-15 due to the absence of actuarial valuation, nor did it provide for interest payable on dues to Micro and Small Enterprises under the MSMED Act, 2006. The financial impact of these qualifications could not be determined by the auditors. Management states the impact is presently not ascertainable or quantifiable, attributing it to documentation issues and ongoing processes to collate data for valuations and vendor reviews.

Solvex Edibles Ltd filed a statement of deviation or variation in utilization of funds raised for the half year and financial year ended March 31, 2026. The company raised ₹1886.98 Lakh through a public issue from September 22, 2025, to September 26, 2025. The report indicates no deviation or variation in the use of funds raised. Funds were allocated for Capex, repayment of borrowings, general corporate purposes, and issue-related expenses, with ₹1303.61 Lakh utilized.

Solvex Edibles Ltd's board meeting on May 30, 2026, approved the audited standalone and consolidated financial results for the half-year and financial year ended March 31, 2026. The board also reviewed the statement on deviation or variation in the utilization of funds. The auditor's report included a qualified opinion due to concerns regarding the utilization of IPO funds.

Solvex Edibles Ltd has scheduled a Board of Directors meeting on May 30, 2026, at its registered office in Bilaspur, Rampur, Uttar Pradesh. The meeting will address several key items, including the approval of audited standalone and consolidated financial results for the year ended March 31, 2026, related party transactions, and the review of IPO fund utilization. Directors can participate via video conferencing. The agenda includes electing a chairman, granting leave of absence, and taking note of quorum and minutes from previous meetings.

Solvex Edibles Ltd announces that its material unlisted subsidiary, Shree Oils And Fats (I) Private Limited, has recommended the appointment of Ms. Rojina Thapa (DIN: 10362834) as a Non-Executive Director. The appointment is scheduled for the subsidiary's General Meeting on June 15, 2026. Ms. Thapa, an Associate Member of ICAI with 4 years of experience in corporate law, audit, taxation, and finance, also serves as an Independent Director on the Board of Solvex Edibles Limited. This appointment complies with Regulation 24(1) of SEBI LODR Regulations.

Solvex Edibles Ltd clarified to the stock exchange that it is unaware of any specific information or event that could have influenced the recent price movement or trading volume of its shares. The company confirms that all material information required under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 has been duly disclosed. Solvex Edibles believes the share price movement is market-driven and due to general market conditions or external factors beyond its control.

Solvex Edibles Ltd has designated three Key Managerial Personnel (KMPs) as 'Authorised Persons' under Regulation 30(5) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Ashish Goel (Managing Director), Vishal Goel (Whole-time Director), and Rohit Gupta (Whole-time Director) are jointly and/or severally authorized to determine the materiality of events or information and make necessary disclosures to the Stock Exchanges. This move ensures compliance with regulatory requirements for timely and accurate corporate communication.

Solvex Edibles Ltd. announced the appointment of M/s NBG & CO., Chartered Accountant (Firm Registration No. 025865N), as its Internal Auditor for the financial year 2025-26. The Board of Directors approved this appointment at its meeting held on April 18, 2026, following the recommendation of the Audit Committee. M/s NBG & Co. is a Chartered Accountancy firm established in November 2012, led by experienced Chartered Accountants including CA Yash Narang, CA Abhishek Bathla, and CA Mohit Gambhir. The firm offers a wide range of services, including statutory and internal audits, across various industries, aiming to support corporate governance.

Solvex Edibles Ltd has received a disclosure from the promoter, Ashish Goel, on behalf of the promoters and promoter group, stating that they along with persons acting in concert, have not made any encumbrance on shares of Solvex Edibles Limited held by them during the financial year ended March 31, 2026. This disclosure was made under Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.