Board Meeting Details

The Board of Directors meeting was held on 20 July 2026 from 10:30 AM to 11:20 AM at the corporate office in Hyderabad.

Key Board Approvals

1. AGM Approval: Approved notice convening the 31st Annual General Meeting on 14 August 2026 at 10:30 AM through video conferencing/audio-visual means.

2. Secretarial Auditor Appointment: Appointed M/s. Ankur Gandhi & Associates (COP No. 17543) as Secretarial Auditor for FY 2025-26.

3. Scrutinizer Appointment: Appointed M/s. Ankur Gandhi & Associates as scrutinizer for e-voting process at AGM.

4. Book Closure: Register of Members and Share Transfer Books will remain closed from 8 August 2026 to 14 August 2026 (both days inclusive).

AGM Agenda Items

Ordinary Business

1. Adoption of audited financial statements for FY 2024-25

2. Re-appointment of Mr. Vuppala Naga Malleswara Rao (DIN: 08858080) who retires by rotation

Special Business

3. Appointment of M/s. Ankur Gandhi & Associates as Secretarial Auditor for 5 years from FY 2025-26 to FY 2029-30 at remuneration of ₹1,00,000 plus applicable taxes for first year

4. Appointment of Mr. Kranthi Kumar Reddy Gajjala (DIN: 10107498) as Independent Director for 5 years from 13 February 2026

5. Appointment of Mr. Satya Narayana Gogula (DIN: 10209811) as Independent Director for 5 years from 20 February 2026

E-Voting Details

  • Remote e-voting period: 11 August 2026 (9:00 AM) to 13 August 2026 (5:00 PM)
  • Cut-off date for voting rights: 7 August 2026
  • Scrutinizer: Mr. Ankur Gandhi of M/s. Ankur Gandhi & Associates

Financial Results (Amount in ₹ Lakhs)

| Particulars | FY 2024-25 | FY 2023-24 | FY 2022-23 |

| Revenue from Operations | 274.60 | 375.07 | 340.67 |

| Other Income | 0.00 | 0.59 | 0.00 |

| Total Income | 274.60 | 375.66 | 340.67 |

| Total Expenses | 18.83 | 291.52 | 269.48 |

| Profit/(Loss) after Tax | 7.38 | 63.05 | 58.81 |

| Earning Per Share (₹) | 0.16 | 0.13 | 0.12 |

Fund Raising Activities

The Board on 19 February 2025 approved preferential issue of 60,00,000 convertible equity warrants at ₹2.50 per warrant aggregating ₹1,50,00,000 to non-promoter persons. Shareholders approved this in EGM on 17 March 2025. BSE granted in-principle approval on 11 March 2025. Warrants were allotted on 21 March 2025 with 25% warrant subscription money received. All warrants were converted into equity shares on 31 March 2025.

Capital Structure Impact

Post preferential allotment, paid-up equity share capital increased to ₹5,29,37,500 from ₹4,69,37,500.

Director Changes

  • Mr. Harish Sharma (Independent Director) ceased from 10 February 2025
  • Mrs. Pragna Makwana (Independent Director) ceased from 13 February 2026
  • Mr. Hasmukh Prajapati (Independent Director) ceased from 25 February 2026
  • Mr. Gajjala Kranthikumar Reddy appointed Additional Independent Director from 13 February 2026
  • Mr. Satya Narayana Gogula appointed Additional Independent Director from 20 February 2026

Key Managerial Personnel Changes

  • Mr. Bheemidi Raghuram Reddy appointed as CEO from 1 June 2024 (was Manager until 30 May 2024)
  • Mrs. Radhika Bathula continued as CFO
  • Mrs. Sanchita Dad resigned as Company Secretary from 30 May 2025
  • Ms. Ravikanti Nirosha appointed as Company Secretary from 20 August 2025 to 26 November 2025

Compliance Matters

  • Company received Stage 3 notice for non-payment of annual listing fees for 2024-25, paid on 3 March 2025
  • Did not publish mandatory information in newspaper as per Regulation 47 of SEBI LODR Regulations
  • Not filed GST returns for last four months (as per auditor's report)
  • Undisputed statutory dues of ₹8,24,473 in arrears for more than six months
  • Income tax assessment order for AY 2013-14 reducing declared loss by ₹98,32,932, appeal pending

Auditor Qualifications

Statutory auditors reported key audit matter regarding non-filing of GST returns for four months affecting verification of GST-related balances and transactions. Also noted that GST not levied on certain income like cheque bounce charges, penalties which may be subject to GST.

Secretarial Audit Remarks

Secretarial auditors reported two qualifications:

1. Company not published mandatory information in newspaper as per Regulation 47 of SEBI LODR Regulations

2. Company received Stage 4 notice for non-payment of annual listing fees for 2024-25

Dividend and Reserves

No dividend recommended for FY 2024-25. Transferred 20% of net profit to statutory reserves.

Corporate Governance

Company has established committees:

  • Audit Committee: Mr. Vuppala Nagamlleshwarao (Chairman), Mr. Hasmukh Prajapati, Ms. Pragna Makwana
  • Nomination and Remuneration Committee: Ms. Pragna Makwana (Chairman), Mr. Hasmukh Prajapati, Mr. Vuppala Nagamlleshwarao
  • Stakeholder Relationship Committee: Mr. Vuppala Nagamlleshwarao (Chairman), Mr. Hasmukh Prajapati, Ms. Pragna Makwana