AGM Details

  • Date: Monday, September 28th, 2026
  • Time: 03:00 PM
  • Venue: Registered Office at 236 Jai Kishan Industrial Estate, Behind Murlidhar Weighbridge, Veraval-Shapar 360024, Dist: Rajkot (Gujarat) India
  • E-voting period: September 25, 2026 (9:00 AM) to September 27, 2026 (5:00 PM)
  • Cut-off date for eligibility: September 21, 2026

Board of Directors (As of March 31, 2026)

Resigned Directors (effective 30.03.2026):

  • Nathabhai Jerambhai Sadaria (Managing Director)
  • Manoj Harsukhlal Shah (Whole Time Director)
  • Sanjay Jayantilal Patel (Whole Time Director)
  • Kiran Bavanjibhai Govani (Independent Director)
  • Ajay Ramjibhai Patel (Independent Director)
  • Jagdish Manshukhlal Shah (Independent Director)
  • Mausamiben Pareshbhai Sadaria (Women Director)

Current Directors:

  • Richa Kachhawaha (Independent Director)
  • Prashant Sudhir Khairnar (Executive Director, appointed 17th December 2025)
  • Abhay Vasantrao Galgate (Executive Director, resigned 27th January 2026)
  • Jay Narayan Nayak (Independent Director, appointed 24th May 2024, resigned 02nd May 2025)

New Appointments (effective 30th June 2026):

  • Mukesh Jiut Yadav (Independent Additional Director)
  • Bhawana Aswani (Independent Additional Director)
  • Kalpataru Bhogilal Shah (Executive Director and CFO, appointed 9th April 2026)

Key Managerial Personnel

  • Chief Financial Officer: Jayantilal Panchanbhai Kansagara (resigned w.e.f. 30.03.2026), Kalpataru Bhogilal Shah (appointed w.e.f. 09th April 2026)
  • Company Secretary and Compliance Officer: Utsavi Lalit Bhatia

AGM Agenda Items

Ordinary Business:

1. Adoption of audited financial statements for FY 2025-26

2. Appointment of Mr. Prashant Sudhir Khairnar (DIN: 11434708) as director retiring by rotation

Special Business:

3. Appointment of Statutory Auditors: Appointment of M/s NKSC & Co., Chartered Accountants (FRN: 020076N) to fill casual vacancy caused by resignation of M/s H. B. Kalaria & Associates (FRN: 104571W) for FY 2026-27

4. Change in Designation: Mr. Prashant Sudhir Khairnar (DIN: 11434708) from Executive Director to Managing Director effective 17th December 2025 for term up to 16th December 2030

5. Regularization of Mr. Kalpataru Bhogilal Shah (DIN: 11655140) as Executive Director effective 9th April 2026

6. Regularization of Mr. Mukesh Jiut Yadav (DIN: 10778075) as Independent Director for 5-year term from 30th June 2026 to 29th June 2031

7. Regularization of Ms. Bhawana Aswani (DIN: 11230587) as Independent Director for 5-year term from 30th June 2026 to 29th June 2031

8. Share Sub-division: Approval for sub-division of equity shares from ₹10 face value to ₹1 face value (10:1 split)

  • Authorized capital remains ₹30 crore but number of shares increases from 3 crore to 30 crore
  • Issued, subscribed and paid-up capital remains ₹15.89 crore but number of shares increases from 1.59 crore to 15.89 crore
  • Record date to be determined by Board

9. Fundraising Approval: Approval for raising funds up to ₹50 crore through secured/unsecured loans with option for lenders to convert into equity shares

Financial Performance Highlights (Standalone)

| Particulars | FY 2025-26 (₹ in Lacs) | FY 2024-25 (₹ in Lacs) |

| Revenue from operations | 262.03 | 359.04 |

| Other income | 23.64 | 24.54 |

| Total revenue | 285.67 | 383.58 |

| Expenditure | 394.18 | 379.35 |

| Profit/(loss) before tax | (108.51) | 4.23 |

| Exceptional item | 524.69 | - |

| Tax expenses | 34.76 | (3.93) |

| Net profit after tax | 381.42 | 12.07 |

| EPS (Basic & Diluted) | 10.29 | 0.30 |

Material Business Developments

1. Sale of Business Undertaking: Sold manufacturing and trading business of Agricultural Equipments and Bearings to Forgex Rings Private Limited for ₹9.25 crore via slump sale (approved by Board on 11th August 2025)

2. Rights Issue: Successfully completed rights issue of 1,36,58,208 equity shares at ₹35.87 per share (including premium of ₹25.87) aggregating ₹48.99 crore

  • Allotted 1,31,59,655 equity shares
  • Ratio: 5 rights shares for every 1 existing share
  • Record date: 23rd January 2026

Capital Structure Changes

  • Authorized share capital increased from ₹5.5 crore to ₹30 crore in previous AGM
  • Paid-up equity share capital as at March 31, 2026: 15,89,07,220 shares of ₹10 each
  • Post rights issue: Issued, subscribed and paid-up capital increased to ₹15.89 crore

Auditor Changes

  • M/s H. B. Kalaria & Associates resigned as statutory auditors
  • M/s NKSC & Co. proposed as new statutory auditors subject to shareholder approval
  • M/s Ramesh Chandra Bagdi & Associates appointed as secretarial auditors

Other Key Information

  • Registrar and Share Transfer Agent: MUFG Intime India Private Limited (Mumbai and Ahmedabad)
  • No dividend recommended for FY 2025-26
  • No deposits accepted under Section 73 of Companies Act, 2013
  • No subsidiary, joint venture or associate companies
  • ESOP details: Not applicable

Voting Information

  • E-voting through CDSL platform
  • Scrutinizer: M/s Ramesh Chandra Bagdi & Associates
  • Proxy forms must be deposited 48 hours before meeting
  • Corporate members must submit board resolution authorizing representatives