AGM Details

The 13th Annual General Meeting is scheduled to be held on Wednesday, 30th September 2026 at 10:30 AM at Incredible One Hotel, 1-2-40, 41 & 43, Park Lane, Sandhu Apartment, Kalasiguda, Secunderabad, Telangana 500003.

Business to be Transacted

Ordinary Business:

1. To receive, consider and adopt audited financial statements for FY ended 31st March 2026 with reports of directors and auditors

2. To appoint director in place of Mr. Devender Kumar Agarwal (DIN: 00042156) who retires by rotation

Special Business:

3. To approve re-appointment of Mr. Devender Kumar Agarwal as Managing Director for 5 years from 03rd September 2026 to 02nd September 2031

4. To fix and approve remuneration payable to Mr. Devender Kumar Agarwal as Managing Director

5. Approval of Related Party Transactions

Key Financial Figures (₹ lakhs)

  • Total Income: 249.25 (Previous year: 431.77)
  • Revenue from Operations: 203.29 (Previous year: 430.84)
  • Profit Before Tax: 168.21 (Previous year: 338.12)
  • Profit After Tax: 165.14 (Previous year: 338.12)
  • Paid-up Share Capital: 349.93 (34,99,270 equity shares of ₹10 each)
  • Retained Earnings: (3,748.70)
  • Total Assets: 472.22 (Previous year: 794.03)
  • Current Liabilities: 2,306.66 (Previous year: 1,983.86)

Management Reappointment Details

Mr. Devender Kumar Agarwal proposed for reappointment as Managing Director with remuneration:

  • Basic Salary: ₹1,25,000 per month
  • Commission: 1% of Net Profits or 50% of basic salary, whichever is less
  • Perquisites including rent-free accommodation, medical reimbursement, LTA, club fees, personal accident insurance, provident fund contributions, and car with telephone

Related Party Transactions

Approval sought for transactions with related parties during FY 2026-27:

  • Suryavanshi Spinning Mills Limited: ₹5 crores
  • Sheshadri Industries Limited: ₹5 crores
  • Suryavanshi Industries Limited: ₹7 crores
  • Moonglade Trading Private Limited: ₹5 crores
  • Moonglade Industries Private Limited: ₹5 crores

Auditor Qualifications

Statutory auditors M/s. K.S. Rao & Co. issued qualified opinion citing:

1. Non-provision of interest payable on non-remittance of TDS aggregating ₹20.98 lakhs (₹17.68 lakhs previous year)

2. Long-pending trade payables aggregating ₹136.57 lakhs where limitation period has expired

3. Commission income recognized only at year-end instead of periodically

Corporate Governance

  • Board comprises 4 directors (1 executive, 3 non-executive independent)
  • Board met 4 times during the year
  • Audit Committee met 4 times
  • Nomination & Remuneration Committee met 1 time
  • Stakeholders' Relationship Committee met 1 time

Shareholding Pattern

  • Mr. Devender Kumar Agarwal: 47.30% (1,655,088 shares)
  • Smt. Narbada Bai Agarwal: 12.72% (445,233 shares)
  • Promoters collectively hold 63.50%

Other Material Information

  • Register of Members closed from 19th September 2026 to 30th September 2026
  • E-voting period: 26th September 2026 (9:00 AM) to 29th September 2026 (5:00 PM)
  • Cut-off date for voting rights: 18th September 2026
  • No dividend recommended for FY 2025-26
  • Company transitioned from textiles to real estate business
  • Spinning division discontinued since September 2020