Annual Report 2025-2026 - Jolly Plastic Industries Limited

Financial Performance Summary

Revenue and Profitability:

  • Revenue from operations: ₹22,59,510 for FY 2025-2026 (previous year: ₹17,02,250)
  • Other income: ₹24,49,000 for FY 2025-2026 (previous year: ₹44,41,185)
  • Total income: ₹47,08,510 for FY 2025-2026 (previous year: ₹61,43,435)
  • Total expenses: ₹45,62,042 for FY 2025-2026 (previous year: ₹59,06,963)
  • Profit before tax: ₹1,46,468 for FY 2025-2026 (previous year: ₹2,36,471)
  • Net profit: ₹1,06,468 for FY 2025-2026 (previous year: ₹1,76,957)
  • Basic & diluted EPS: ₹0.016 for FY 2025-2026 (previous year: ₹0.027)

Reserves and Dividend:

  • Profit of ₹1,06,468 transferred to reserves
  • No dividend recommended for financial year 2025-2026

Capital Structure Changes

Authorized Share Capital Increase:

  • Board approved on 21st January 2026 to increase authorized share capital to ₹27,00,00,000
  • Comprising 2,50,00,000 equity shares of ₹10 each (₹25,00,00,000) and 20,00,000 preference shares of ₹10 each (₹2,00,00,000)
  • Addition of ₹15,00,00,000 equity share capital divided into 1,50,00,000 equity shares of ₹10 each

Preferential Allotment:

  • Board approved issuance of 1,77,00,000 equity shares of face value ₹10 each at nil premium to Bhaum Digital Ventures Private Limited
  • Issue price: ₹10 per share aggregating to ₹17,70,00,000
  • Share swap ratio: 354 equity shares of Jolly Plastic for every 10 equity shares of Sahaj Retail Limited
  • Against purchase by company of 500,000 equity shares of Sahaj Retail Limited (wholly owned subsidiary of Bhaum Digital Ventures)
  • Share Purchase Agreement entered into on 21st January 2026
  • Post-allotment, Bhaum Digital Ventures will hold 72.61% of expanded equity and voting shares

Shareholder Approval:

  • Extraordinary General Meeting held on 16th February 2026 approved both capital increase and preferential allotment

Final Capital Structure as on 31st March 2026:

  • Authorized Share Capital: ₹27,00,00,000
  • Issued, Subscribed & Paid-up Share Capital: ₹24,37,64,000

Board and Management Changes

Board Composition as on 31st March 2026:

1. Mr. Braj Mohan Singh - Managing Director and CFO

2. Mr. Atul Kumar Agarwal - Non-Executive Director

3. Ms. Sandeep Kaur - Non-Executive Women Director

4. Mr. Parul Kumar - Non-Executive Independent Director (appointed 29th September 2025)

5. Mr. Rajesh Kumar Vaid - Non-Executive Independent Director

Management Changes during FY 2025-2026:

  • Mr. Parul Kumar appointed as Non-Executive Independent Director on 29th September 2025
  • Mr. Adesh Kumar Agarwal resigned as Director effective 5th September 2025
  • Ms. Sandhya Yadav resigned as Company Secretary and Compliance Officer effective 30th March 2026

Subsequent Appointments (post 31st March 2026):

  • Board meeting on 12th June 2026 approved comprehensive reconstitution including:
  • Mr. Suvendu Chunder and Mr. Ananjan Mitter as Additional Directors (Non-Executive Independent Directors)
  • Mr. Kamal Nain Pandya as Additional Director (Non-Executive Director)
  • Mr. Shomik Kumar Mukerjee as Manager and Key Managerial Personnel
  • Mr. Joydeep Datta Gupta as Company Secretary & Compliance Officer
  • Mr. Gopal Dalmia as Chief Financial Officer and Key Managerial Personnel
  • Resignations of Mr. Rajesh Kumar Vaid and Mr. Parul Kumar accepted
  • Resignation of M/s GAMS & Associates LLP as Statutory Auditor accepted

Regulatory and Stock Exchange Matters

BSE Approvals:

  • Applied for in-principle approval for preferential allotment on 23rd January 2026
  • Received in-principle approval from BSE on 9th March 2026
  • Filed applications for listing and trading of 1,77,00,000 equity shares
  • Received listing approval on 30th April 2026 and trading approval on 22nd May 2026

Board Meetings:

  • 8 Board meetings held during the financial year on: 27th May 2025, 5th July 2025, 11th August 2025, 6th September 2025, 13th November 2025, 21st January 2026, 13th February 2026, 13th March 2026

Audit and Compliance

Statutory Auditor: M/s GAMS & Associates LLP (Chartered Accountants, FRN: ON500094)

Audit Qualification:

  • Company used accounting software without audit trails (edit log) facility throughout the year
  • Management replied that company is in process of updating accounting software to include audit trails feature

Internal Auditor: M/s Sandeep Kumar Singh & Co. (Chartered Accountants, FRN: 035528N)

Secretarial Auditor: CS Divya Rani (Practicing Company Secretary, Membership No: 64861, COP: 26426)

Compliance Status:

  • No significant material orders passed by regulators, courts or tribunals
  • No fraud reported by statutory auditors
  • No deposits accepted under Section 73 of Companies Act, 2013
  • No subsidiary, joint venture or associate companies
  • Related party transactions disclosed in Note 25 of financial statements

Business Operations

Nature of Business:

  • Manufacturing, processing, trading, importing, exporting and dealing in plastic, polymer and allied products
  • Investment and treasury activities including acquisition, holding, purchase, sale and dealing in shares, stocks, securities, debentures, bonds and other financial instruments
  • No change in nature of business during financial year

Financial Position:

  • Total assets: ₹68,94,325 as at 31st March 2026 (previous year: ₹68,76,428)
  • Investments: ₹3,565 in unquoted equity shares of Shridhar Financial Services Private Limited (60,000 shares)
  • Loans and advances: ₹63,807.05 (unsecured, considered good: ₹53,907.05; doubtful: ₹9,900.00)
  • Cash and cash equivalents: ₹1,484.20 (previous year: ₹30,559.92)

Other Disclosures

Corporate Governance:

  • Company not required to comply with certain corporate governance provisions due to paid-up equity capital of ₹6,67,64,000 and networth of ₹6,87,44,283 as on 31st March 2025
  • Vigil mechanism/whistle blower policy and prevention of insider trading policy in place

Human Resources:

  • Less than 10 employees
  • Cordial industrial relations maintained
  • No employees availed maternity benefits under Maternity Benefit Act 1961

CSR: Not applicable as company doesn't fall under eligibility ambit

Energy Conservation: Operations involve low energy consumption with implemented conservation measures

Foreign Exchange: No foreign exchange earnings or outgo during the year